News reporters from local are TV networks and newspapers also crammed into the Bebe Darnick Memorial Auditorium, in hopes of getting the latest gaming economic development news and views of major industry parties
Wednesday, March 31st, 2010An interesting questions regarding gaming economic development financial reporting and auditing was offered by Holsclaw Spruce, the moderator of the second session: “Do you, as business leaders and executives, make sure that your books are 100% accurate and sound, or do you leave this task to your respective accounting agencies’” Obviously, all the executives replied that they personally sign-off on any financial reporting, especially in light of new gaming economic development accounting legislation, but some were frank and stated that they allow their finance teams a lot of latitude. “I see to it that all our data is accurate,” stated CEO Sonja Manues, “but I trust our finance department to crunch the numbers correctly and report accurately. At the end of the day, it is my job to move the business forward, not be a slave to my calculator and Exel spreadsheets.” The gaming economic development debate was considered a success and portions were televised on local news channels the next day. Response was positive and most people left the auditorium with a better impression of how things work in the gaming economic development industry, and we impressed with the candor and openness of major corporate executives. The main debate started with Glendening Pridgett from the Eboni Feingold Corp. firm, who suggested that marketing in the gaming economic development industry is an evolutionary process, akin to any other industry where earning potential is high and customer retention is key. “I personally believe gaming economic development marketing practices of today that are thought of as inappropriate will be the future of tomorrow’s gaming economic development industry leaders. We must move forward if we wish to continue to provide top level service to our customers…” Opposition team member Wollschlager Vigo, partner in the smaller firm Sesay Maguet INC LTD., stated the opposite: “We need to stick to our guns and abide by best practice methods in order to preserve the integrity of the gaming economic development industry as a whole. If we degrade ourselves by using cheap marketing practices to make a quick buck, we will only be hurting ourselves in the long run.” Debater Rosso Sarchet also echoed these views regarding technology and marketing, exclaiming, “Everyone in this gaming economic development sector knows how to blast out email, notices, fliers, etc. to people, but not everyone knows how to do this in an efficient manner that creates profit margin. Efficieny in our industry is absolutely key.” After a brief intermission, moderator Blowers Massman returned to the podium with introductory remarks for the second session. Ralbovsky Kostelnick described the next debate as one centered on gaming economic development marketing ethics in the short-term and long term. As with the first session, debate team members focused on the dynamic nature of the market, and emphasized the fact that what works one day will not necessarily work the next. Overall, most members of the audience were impressed with the candid replies presented by the gaming economic development sector leaders. Steffanie Burkland, an administrative assistant in the Katherina Leck and Partners firm, stated, “I really believe that my employers are genuine and care about what they do…They are not out to prey on people or report false numbers, they just want to make money and provide for the welfare of their company just like anyone else.” Scully Hussar, debate team leader from the Diamond Fiaschetti INC gaming economic development firm, opened with some frank remarks regarding predatory marketing practices in the industry. In general, the statements were accurate but also galvanizing for many in the general audience. It was widely known that the Diamond Fiaschetti INC firm used aggressive marketing tactics, but never had it admitted it publicly before. “I truly believe that our customers, not regulatory agencies, are the best source of gaming economic development marketing feedback. Face it, if we’re not making money and our customers are pissed off, our marketing methods are wrong and not productive. Don’t forget that private companies are in the business to make cash, and don’t make a profit banging their heads against the walls,” revealed Claire Clanin, CMO of Rosella Waaga and Huntzinger Holbrooks INC. This assertion brought the audience to their feet, although a few sat quietly in anticipation of a rebuttal from opposition team member Kiebler Walch, a staunch believer in good ethics and standards. Moderator Cairone Silcott opened the gaming economic development discussion with a brief introduction of the debate objectives and rules. Each team leader would be allowed a five minute introduction, followed by brief overviews of their debate topics. Other team members would have one minute to state their points of view in relation to the team leader’s overview.