Trump Taj Mahal Casino has been acquired by STHM Management. However, for STHM to be successful where the former owners were unsuccessful requires them to understand the competitive environment, the past performance of the firm, and understand why the past failure occurred so they can avoid the same issues. This paper will address those three issues.
Market Analysis of Local, Regional, and National Competition
The Trump Taj Mahal Casino is located in Atlantic City, where there are currently 8 casinos, including the Taj Mahal (Atlantic City, 2016). The size of the industry is large; in August 2016 total winnings were $229,787,082, with the largest competitor being Borgata where winnings totalled $65,566,500 (Playnj, 2016). However, while there is a high level of competition, the industry in the area has been suffering, with four casinos closed in 2014 and in 2015 total revenues were down by 48% compared to 2006, which was their best year (Johnson, 2015).
There are many casinos in the U.S., in 2014 there were 510 casinos in the country. There are few casinos in the same region, with Atlantic City being the only resort, with several casinos in Philadelphia, Baltimore and Washington (Anonymous, 2016). However, while these are open, they do not provide the same differentiated resort...
Architecture through the Ages Mesopotamia Construction in ancient times is second only to agriculture-it reaches back as far as the Stone Age and possibly further (Jackson 4). Before the existence of master builders in design and construction the Code of Hammurabi (1795-1750 B.C.) referred to design and construction as a simple process (Beard, Loulakis and Wundrum (13). Hammurabi was the ruler of Babylon, the world's first metropolis and he codified his
Planning & Marketing Conferences & Workshops The importance of planning Getting feedback from others Administering a workshop or conference The details of work that can be done in conferences Preparing for a conference Facilities available at conferences At the outset of this exercise, we must start by defining planning and this has been defined as a proactive decision making within an organization. The importance of planning and marketing can start an ongoing process that helps an organization
Visitor Attraction Management (LO 1) Legoland, Denmark and the Sydney Opera House LEGOLAND® Billund is Denmark's most famous and popular amusement park for families and children of all ages (Legoland Billund Resort, 2012). Legoland Billund opened on June 7, 1968 in Billund, Denmark. The park is located next to the original Lego factory which has been a primary economic driver for the entire community since Ole Kirk Christansen began manufacturing Legos mid-century.
Therefore, the suggestions forwarded would most definitely be different if the discussion had been about another country or another industry. But even so, there are some rules compulsory to be implemented, without which the organization will not retrieve the desired beneficial results. These general recommendations include: Clearly analyzing the features of the new market in order to get an idea of the product demand and the needs of the customers,
Given the strong and increasing competition in the gaming and entertainment industry, Mandalay should apply a more aggressive strategy. The group should continue to expand the business. This will attract more clients, and it will expand Mandalay's number of target segments, which will eventually lead to increased incomes. As mentioned above, Mandalay's strategy should focus on social responsibility also. By involving in the lives of its customers, Mandalay will be a
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