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How casinos are betting on big data

Billions of dollars are lost by gamblers every year along the Vegas Strip, but some casino operators are taking strides to soften the blow of serious gambling losses and leveraging big data to keep customers coming back, according to one executive.  "They could win a lot or they lose a lot or they could have something in the middle. So we do try to make sure that people don't have really unfortunate visits," said Caesars Entertainment Chairman and CEO Gary Loveman on Big Data Download.  Caesars and other casino operators offer loyalty programs. As gamblers spend, companies gather data on those spending trends. Customers also receive tailored incentives for gambling and spending. 

"We give you very tangible and immediate benefits for doing so. So we give you meals, and hotel rooms and limousines and show tickets. You share with us information on what you've been doing, what sorts of transactions you've made," said Loveman, whose company is the biggest U.S. casino operator.

Caesars in particular employs about 200 data experts at its Flamingo Hotel alone. They scour through data on the types of games customers have played, what hotel they've stayed at and where they've been dining. So the next time when you visit a casino, expect a suddenly friendlier slot machine after you are on a losing streak.

Read the complete report here:  http://www.cnbc.com/id/101027330

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