DO… explore possibilities that you might never not have considered before. Initially, we were a little nervous about the prospect of adding casinos at two of our malls, but the additions have far surpassed our expectations and have given us double-digit-plus traffic lifts at those locations.
We felt that the casinos needed to be integrated with the mall to allow for a crossflow of traffic with the mall. We also wanted the casinos to offer more than gambling--like good restaurants and entertainment--and they’ve done that.
There were some security concerns, but they’ve been managed. The casinos are open 24/7, and we just close access to the mall when it closes. Their restaurants have had a very positive effect on building traffic with new customers. The casino has widened our market areas considerably at both locations.
Live!, which is part of the Cordish Company, also made a lot of improvements to the property. They’ve added signage, parking, and physical upgrades. Having great entertainment as a part of your mix is a must today, and Cordish understands entertainment.
DON’T… ignore your market. The mall business is not cookie cutter anymore, so use all the customer data intelligence and other data that is available today. At the same time, don’t rush. A lot of the things we’re trying today are new, and once you do it you can’t un-do it. We’ve looked at some of the things that we did just five years ago and said we’d probably do it differently today.
Stephen Lebovitz’s CBL Properties has Live! Casino Pittsburgh at its Westmoreland Mall in Greenburg, Pa., and a Hollywood Casino adjacent to its York Galleria in York, Pa.