Bill Singh, VP of FP&A at Genting Americas, talks about FP&A in the gaming industry including metrics like 'win per unit per day' and 'hold'. He shares insights on budgeting, salesmanship, lodging metrics, and AI impact. Bill also gives insider advice on gaming and emphasizes the importance of continuous learning and analysis in budgeting.
FP&A in gaming industry requires unique metrics like 'win per unit per day' and 'hold'.
Effective storytelling and clear communication are crucial skills in FP&A career progression.
Utilizing advanced analytics and automation is vital for FP&A professionals to stay competitive and adapt to evolving industry trends.
Deep dives
Bill Singh's Journey into Financial Planning and Analysis
Bill Singh, a seasoned corporate executive in the FP&A function of the gaming and hospitality industry, shares his experience of transitioning from an initial interest in banking to finding his niche in FP&A through a role at a casino in Nevada. Despite aiming for Wall Street, Bill embraced his role in FP&A after recognizing his knack for analyzing data and driving business decisions.
Embracing Business Storytelling in FP&A
Bill discusses the importance of understanding business narratives and storytelling within FP&A. Drawing parallels to the professorial aspect of interpreting data and conveying insights, he highlights the critical skill of delving beyond surface numbers to uncover deeper business implications, emphasizing the significance of clear and compelling communication in financial planning and analysis.
Critical Skills and Evolution in Financial Planning
Bill emphasizes the essential skills necessary for a successful FP&A career, outlining the importance of data analysis, problem-solving abilities, and salesmanship at different career stages. He underscores the evolution of the FP&A role over time, emphasizing the impact of advanced analytics and automation on skill requirements and the changing landscape of financial planning.
Key Metrics in the Gaming Industry
Delving into unique metrics within the gaming industry, Bill sheds light on key performance indicators like 'win per unit per day' and 'hold.' He explains how analyzing metrics specific to gaming and lodging, such as occupancy and revenue per available room, offers insights into customer spending behaviors and revenue optimization strategies.
Advancing Data Quality and Automation in FP&A
Bill highlights the significance of data quality and management in FP&A, focusing on establishing a single source of truth for accurate financial insights. He emphasizes leveraging technology, data warehouses, and BI tools to streamline data processes, ensure data accuracy, and enhance decision-making efficiency within financial planning and analysis.
We host our first ever FP&A guest from the US casino and gambling sector with the head of FP&A at Genting Americas, a world leader in casinos and lodging with luxurious loactions in Las Vegas, Bimini, Malaysia, Singapore, the Philippines, and the United Kingdom.
Bill Singh is VP FP&A of Genting Americas, part of the world’s largest Destination Resort operator operating as Resorts World . Genting boasting five public companies capitalized at $45 billion and employing more than 50,000 people worldwide. This episode reveals their inside FP&A game including metrics such as “win per unit per day” tacking the “hold”. Bill is strategic leader with more than a decade leading FP&A and providing insights on skills and budgeting management, to insider advice about gaming.
In this episode:
Getting an unexpected offer of an FP&A role at a casino in Nevada
Why FP&A at the “nexus of data and decision-making” is an “ultimate” career path
Critical skills you must develop in FP&A
Giving “X+1” in your FP&A answers
Salesmanship in FP&A
FP&A metrics: “Win per unit per day and hold”
Lodging: occupancy, your ADR, your revenue per available room
Odds and statistics from tables, games and FP&A modeling
Insider advice about gaming (including “Don’t play a game right by the door”)
The power of leading budget for the operating side and the capital budget for all divisions +lessons from 10 years of budgeting
The impact of AI in getting answers faster for operators
MATCH+TEMPO – My favorite Excel function and lessons from drumming