It's not so much first-user advantage as it is size of market. Casinos make money hand-over-fist when they're few and far between. Vegas had this sewn up all to itself for the longest time -- it has practically the whole country to itself. Then came Atlantic City, which took in crowds from Boston to DC. Then came Foxwoods, which drew off the Northeast.
As more and more players enter the market, the market fragments and there are fewer and fewer potential customers for each casino. You get both market fragmentation *and* local market saturation... and not *nearly* the money-making capacity you thought you had.
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Date: 2014-08-13 05:50 pm (UTC)As more and more players enter the market, the market fragments and there are fewer and fewer potential customers for each casino. You get both market fragmentation *and* local market saturation... and not *nearly* the money-making capacity you thought you had.