A FORCE IN THE WORKFORCE

As new generations of women enter the workforce, they are bringing additional skill and value to the table. For the last 20 years, the percentage of women with at least a bachelor's degree has exceeded that of men. The Council of Economic Advisers reports that women 25-34 years old were 21% more likely than men to be college graduates and 48% more likely to have completed graduate school in 2013.¹ The number of women in senior management positions remains low by comparison, thus garnering the attention of corporate financial analysts. Credit Suisse has demonstrated a connection between a greater number of women on the board of directors and better performance. In 2012 and 2014, the analysis finds that companies with a greater female board presence have better returns.² The latest CS Gender 3000: Women in Senior Management report focused on gender diversity in Senior Management, revealing companies with a greater percentage of women in senior management roles to be more profitable. Those with 15% or more of women in senior management positions saw double digit premiums on ROE, net debt/equity, price/book, and payout ratios.³ As more young women receive higher levels of education and as the value of female executives continues to be acknowledged, the future appears bright for those seeking corporate leadership roles.

 

Gender Diversity in the Gaming Industry

As any executive will confirm, the path to the top takes time, hard work, and a combination of formal training and less formal mentoring. This is crucial for women looking to advance in their industries, given the disparity between men and women in leadership positions, and the gaming industry is no exception. Though women comprise approximately 50% of the gaming workforce, only 3% are in managerial roles.⁴ In order to help shift these figures and support the development of successful female leaders in the industry, American Gaming Association (AGA) established Global Gaming Women (GGW) in 2011. In one of their more recent initiatives, GGW commissioned a report from McClain Resources to examine the development and advancement of women in the gaming industry. Like Credit Suisse, the report finds that gender diversity drives organizational and financial performance in businesses.⁵ As the report notes, women demonstrate complementary and diverse leadership styles that correlate to overall company performance. In this report's focus group research and interviews with women in the gaming industry, all of the respondents note the importance of mentorship, however, many feel that the industry lacks a commitment to engaging in strategies that advance employees. In a traditionally male-dominated industry, this can make rising through the ranks challenging for many women in gaming.

 

 

"Mentors have been instrumental to my success both in the gaming industry and in my previous career. I have benefited from incredible mentors and, in turn, have had the privilege of sharing my insight with women mentees. Having someone with whom to share experiences, explore options, and chart a path forward is very rewarding, and it creates long standing personal and professional relationships."  

Martha Sabol

 

While women tend to have access to career counseling and formal mentoring, companies and individuals put less emphasis on securing sponsors. This is a key component, as sponsors tend to be senior executives who will advocate on behalf of their prot?g?s, generating additional job opportunities.⁶ Renese Johnson, Vice President of Finance & Leisure Development at The Innovation Group, notes the importance of engaging in professional organizations such as GGW, advising, "Don't just look at the four walls of your office for support. Meeting other leaders can give you greater perspective and help you build your brand." Other leaders echo this sentiment, as well. Sue Schneider, Principle at egamingbrokerage.com, encourages women to network, saying, "I like to encourage folks to get involved with trade associations and/or charitable activities. They typically offer great leadership training and a way to 'shine' among your colleagues."

 

In a business world conventionally run by men, women will still need to individually seek out opportunities to gain experience and support in order to build their resumes. It is, however, clear that diversity is gaining momentum as female executives continue to take the reins in both the gaming industry and the work force overall . As Shekinah Hoffman of AGA notes, "The desire for upward mobility and female empowerment within gaming is there. It's what we do with it that matters."  

 

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Sources: (1) s3.amazonaws.com, (2, 3) 30percentclub.org, (4) americangaming.org, (5, 6) globalgamingwomen.org 

Nicole Fields' knowledge of the gaming industry began when she started as an innovative marketer for Caesars Entertainment, one of the largest gaming operators in the world. As an experienced brand manager in the casino industry, Nicole's gaming experience runs the gamut from developing VIP programs to marketing multiple core brands at a local level. Among her proudest achievements at Caesars was the rollout of the newly relaunched customer loyalty program, Total Rewards, and the grand opening of Horseshoe Cincinnati, one of the largest casinos in Caesars Entertainment's portfolio. One of her strongest assets is her ability to network and build business relationships, as well as create new business opportunities for her company. These techniques have repeatedly proven successful in her new role as marketing leader for a top Fortune 500 company within the company's gaming division.  

  

 

Karla Perez-Larragoite

National Director of Gaming

 

Currently, Nicole is in charge of building and implementing marketing campaigns targeted at C-level decision makers to help bring their coveted brands to life through custom uniform programs and specialized business solutions for the customer. Nicole has taken on additional leadership roles outside her day-to-day responsibilities, including serving as co-chairperson of Women Adding Value Everywhere (WAVE), an infinity group at Cintas. In addition, she recently joined Global Gaming Women. She serves on the Conference Programming & Events Committee and is currently overseeing a new event called Power of the Suit, aimed to raise funds for the Global Gaming Women Charitable Education Fund. 

In 2012, we at The Innovation Group decided to expand our exposure within the younger demographic of leaders in the gaming industry, our goals being to foster relationships with emerging leaders, to develop a platform for those leaders to interact, and to provide networking opportunities at industry events and conferences. This venture kicked off with a small meeting of industry leaders under the age of 40 at Global Gaming Expo's 2012 show, marking the first opportunity for young members of the gaming and casino community to interact with peers instead of with superiors or elders in the industry. That event spawned the creation of a LinkedIn Group and database that allowed industry members under 40 to interact, to schedule events, and to meet up at industry functions.  

 

In 2013, as a follow-up to the success of the previous year's efforts, The Innovation Group partnered with Reed Exhibitions - the producers of G2E and American Gaming Association - to develop the Emerging Leaders of Gaming^TM program for its inaugural year at G2E 2013. This program featured the presentation of scholarships, the recognition of a small group of emerging leaders in the industry, and the creation of Global Gaming Business Magazine's recurring feature, "40 Under 40", which highlights up-and-coming young leaders.  

 

2014 marked the expansion of the program to include scholarships for emerging leaders who would otherwise be unable to attend G2E, as well as the recognition of leaders under 40 and the second installment of "40 Under 40". At the conference, TIG, Reed, and the AGA sponsored a networking event allowing people under 40 to interact among one other, as well as with a lauded group of industry leaders. The instant mentoring opportunities at the event were unparalleled.  

 

Continuing into 2015, we hope to increase event attendance to include even more under 40 participants. In addition, we are exploring opportunities at G2E Asia to provide similar experiences for Asian market participants who do not attend G2E in Las Vegas. We look forward to your continued support and attendance at future Emerging Leaders events.  

Thursday, May 7 
9:00-10:00am
Much of the recent reinvestment in casino facilities in the southeast and throughout the country has been on the non-gaming side of the business. Hotels, the overall food-and-beverage product mix, clubs, pools, and spas have been upgraded, and casinos have found new opportunities to build non-gaming profits as a result.  This session will identify ways in which casinos can maximize the ROI of their non-gaming businesses, how profitability can and should be assessed, and how to cement relationships by building loyalty programs that recognize the value of a customer's non-gaming spend.

Moderator:  

• Charles Anderer, Executive Editor, Casino Journal 

Panelists: 

• Angie Dobney, Vice President of Pricing and Revenue Management Services, Rainmaker Group
• Bart Golub, Senior Solutions Engineer, Global Gaming Accounts, Duetto
• Kris Norton, Director of Hotel Operations, Boyd Gaming

Click here for more information on Southern Gaming Summit.