LTM Consulting Group is a New York based firm that focuses on FP&A in the gaming/lodging sector. The company was founded by Bill Singh, CFA - a seasoned finance executive who led Genting Americas' Corporate FP&A function for over a decade. Call us to outsource your FP&A reporting so that your team can focus on analysis.
External link for LTM Consulting Group
A great post from Bill Singh, CFA to discuss a fundamental question - why does a business needs a budget. Shout out to Finance Alliance for a great educational partnership with us.
Since it is the budget season, let's ask ourselves a fundamental question: Why does a business needs a budget? Shout out to Finance Alliance for a great educational partnership with LTM Consulting Group; sign-up for the full Masterclass at https://lnkd.in/e9ASzPpG
Had a good chat with my friend Manish Gundecha who led FP&A at HP. I asked the most fundamental question - Why does FP&A even exists? Enjoy.
How do you actually define FP&A? We reached out to an FP&A executive from the giant Hewlett Packard. Great insight! 🎢
A lot of us work for a gaming/lodging company, and it sometimes feels like our perspective of the company is a foot wide and a mile deep. Imagine if you actually had to run a company! What do you need to know. Here is a crash course! When you think of the management team, think a triangle, with Operations, Marketing, and Finance at each end of the triangle, with a lot of codependency. In a nutshell, Marketing promises, Operations delivers, and finance ensures that all of it makes money. Finance then “raises” more money for future profitable projects, gives the money to Ops and Marketing to do more of what works, and the wheels of the bus go round and round. Where does the money gets made? From highest to lowest margins, it is ATM Commissions (yes!), Parking (for sure!), Slots, Tables, Hotel, Retail, Entertainment (especially Vegas), Food and Beverage. Gaming/Lodging is a discretionary business, so the loyalty program is key. For a typical operation, about 70% of the customers are part of the loyalty program, and they get tiered based on the last 30 days revenue per customer, and get monthly points to be used at the facilities. The worst usage of points is definitely the casino floor. Broadly speaking, gaming is split into non-tribal and tribal gaming, with the major difference being that the tribal casinos don’t have to pay the gaming tax, which can range from 10% to 65% of revenue. The high end of the tax rate is generally in blue states (that are also new to the gambling business). Overall trends in gaming is that is proliferating across the United States after the Supreme Court Decision to legalize sports betting. So gaming/lodging is enjoying its growth. Recently, there have been news that two of the large sports betting operators FanDuel and DraftKings are seeing a significant growth in their business. Congrats, now you can give an overview of gaming lodging. Subscribe!
How to best pitch an idea
A little personal life story by Bill Singh which speaks to "Improvise, Adapt, Overcome" - a Marine Corps slogan. Happy Memorial Day!
Let's get you a little smart about the largest expense in gaming/lodging - labor!
How does your FP&A team prepares for the monthly financial reviews in Gaming/Lodging? Here is our first of many posts in helping you get there.