Earlier this week I had the opportunity to listen to John Farahi speak on business success. John Farahi is the CEO of Monarch Casino & Resort Inc. who own and operate the Atlantis Casino Resort in Reno, NV. In spite of the tough economy and declining casino industry, Monarch Casino & Resort Inc. is growing. Here are John’s tips for business success:
Opportunity can be anywhere
When John Farahi’s father David first moved to the U.S. from Iran in 1970 he began looking for a business. When he was told of the Golden Door Motel (the original site of the Atlantis Casino Resort) in Reno, NV he initially dismissed it saying:
‘I did not come to the U.S. to go to Reno, NV, I’m not interested.’
Some how he was persuaded to take a look and realized that there was actually a lot of opportunity to be had in the hospitality industry in Reno, NV.
Surround yourself with honest & successful people
Distancing oneself from people with issues is another of Farahi’s recommendations. He encourages entrepreneurs starting out to approach people who have experienced success in your desired industry and to ask question after question to learn from them.
Don’t give up
John and his brothers took over the Golden Door Motel in 1976. The motel struggled in its early years and the brothers found themselves doing every job in the resort, to try to turn the business around.
Later when trying to build the Atlantis Casino Resort, the brothers had to fight the city of Reno in court to get casino-zoning laws changed. Financing was also extremely challenging and the brothers became accustomed to hearing ‘no’ a lot. John says that in business there are always obstacles to overcome and you can never hit every mark perfectly. Thus it is important to be tenacious, work hard and not give up when you encounter hurdles.
Do your homework
In Fall 2011, Monarch Casino & Resort, Inc. began the process of acquiring Black Hawk Casino in Colorado from Riviera Holdings Corporation. Prior to this acquisition the company had spent five years researching the area, looking at every property in their industry, evaluating restaurants, what the market was missing and what resources would be needed to get the property up to par. Once the acquisition is complete the company will evaluate every employee at the resort in order to build a good team.
What was good yesterday may not be tomorrow
John Farahi talked about the importance of being willing to continually change and take risks. In 1993 when Monarch Casino & Resort, Inc. looked to go public, many people thought they were making a crazy decision. However, after many rejections they succeeded in going public, raising enough funds to build the Atlantis’ second tower.
Today the company has starting making moves into the Internet gaming industry, which may offer the opportunity for future joint ventures. Farahi believes that being a brick and mortar company will enable them to offer better customer incentives (such as resort stays) relative to what Internet gaming companies can offer.
What tips would you give new entrepreneurs on how to be successful in business? Please share in the comments section below.
Marie Wiere's Blue Sky Management Blog 
I’ve been a member of Atlantis Casino Resort Spa since 1992, this is the only casino in Reno, that I’ve been loyal to because of it’s boutiqueness, warm, friendly. I kept coming back because I felt at home, I had a very good Host by the name of Ali. The main reason of why I kept coming back to Atlantis was the excellent customer service and it’s employees. They make you feel welcome and happy to see you back.
Most of those employees are no longer with Atlantis with the exception of Mr. Ali at the VIP. During that time I, my family and friends were treated very well by Mr. Ali and his assistant Marial Maldonado.
I didn’t come back to Atlantis for over 3 years, and when I did Mr. Ali was no longer my host. I didn’t know I had to maintain my status yearly. I didn’t really even know my card level at that time, I just kept coming back because I was treated like a VIP. They treated me very well.
When I came back to Atlantis and has not gambled over 3 years, they told me that my card level dropped to a Gold and not to worry because I had a track record and be able to work my card level back up.
As time went by, I was assigned to a Host. In May of 2012, I stayed on off Atlantis for 6-7 months. By that time I worked my way up to Platinum, During my lenght of stay at Atlantis I noticed a big changed, in Customer Service, the people at the VIP administration change constantly.
The good employee who showed excellent service to the VIP, were replaced and now the people worked at the VIP lounge has gone from excellence to dry, no personality type of people.
This changes occured since this gentleman by the name of Frank (do not know his last time) became the director of VIP.
Maybe he was hired to cut cost, to provide negative energy to the environment,
the new employees are rigid, unprofessional, cold,detach,shallow just like himself. The quality of Atlantis has dropped tremendously since he took over the Director of VIP position.
The points that are accumulated on the card holder, became harder to achieve.
If the points on the card that a play card holder accumulates in a period of time and if the player card holder do not pay attention, the points drops. I find this unfair, since a player card gambles there and with the hope to accumulate points for themselves.
As a player card holder, becomes or establish a higher level the benefits drops too, I suspect that Atlantis got what they want from the player and retracts the priveleges that the player spend so much money gambling to earn those points.
Ever since, Atlantis hired the ex-Harrahs employee the Atlantis had dropped their quality of service. The ex-Harrah’s employee hurt Harrah’s business and now it’s going to happened too to Atlantis and it’s just a matter of time. It’s so obvious now, most of the Royal Diamond and black Diamond are seeing the difference. Sooner or later they will get fed up.
The other improvement that Atlantis thought was beneficial was when they become the AAA Four Diamond property, since then instead of being better than before, that title has to be maintained exceptionally but instead they retract from their original concept.
Most of the people that gambles there now are people are lower class and gain their status quo through gambling. Although, they are treated VIP, it’s not necessarily classy, well mannered gamblers. Basically, Atlantis in my opinion has lost it’s luster, finese, people oriented.
People oriented type of management which no longer exist at Atlantis, lacked employee autonomy, creativity, resulting low morale in the office, casino area and bars of Atlantis. I believe that when an employee has to work under a very strict environment, excessive task orientation, brings company culture down.
For example, the bartender, instruction: Do not serve a player card customer if they do not have enough points on their card or has deposited a minimum $10.00 into the machine at the bar. Since the quality type of customers of Atlantis are lower type of individuals but well treated because they gamble there will take offense, insulted specially the lower types will now resent the bartendr and files a exaggerated complain. Then the bartender gets suspended when he was just doing what he was told by the upper management.
This bartender was suspended and terminated without a chance of explaining really what happened.
I believe that a true and professinal manager, brought the customer to his office and offer some kind of compensation, a free buffet or something and an apology, and explain the bartender was just doing his job and apologies if there was some foul words that was used, according to the customer complain, this is a catch 22, bartender words against customer. Although, the rule of thumb that the customer is always right, which is realistically, not always true, we all know there are people out there that take advantage of that.
This is why a good Manager should offer something to the customer to compensate the complain. The Manager should also investigate the level of the customer player card. If the customer is lower than a Platinum, then the Manager should offer something as an apology for the misunderstanding, insult if this is the case. But I think the new manager, blew it out of proportion and fired the Bartender who has been with Atlantis for over 7 years.
The lack of creativity of this new Manager by the name of ASPI, can have a negative effect on a company, employee, customers since it tends to deaden innovation. When a manager is too task oriented, the cons can sometimes outweigh the positives. Ineffective decisions may result if the focus is consitently put on the manager and employee relationships, rather than the important business decision that need to be made.
The morale of the employees of Atlantis in the 6 years I’ve noticed died. I personally do not go to Atlantis anymore, because they no longer provide me what attracted me to Atlantis that kept me coming back.
Their focused so much on their employees, (like walking on eggshell, fear to lose their job) this employees can no longer provide the warmt, friendliness to their guest and customers because of this type of management.
There were two bartender just got fired back to back. The gentleman by the name of Don (swing shift) and a gentleman by the name of Shawn Holstius (day shift).
I suspect this new Manager by the name of ASPI, has plans to bring his own team. This two gentleman I mentioned both worked over 7 years with Atlantis, why would a company keep an employee for that long, if this employee’s weren’t any good at their job.
I hoped that in the very near future, Mr. Farahi looks into this. Company fails from the people below him. He needs to look at the people that are in Management position to takes advantage of their position and stand by the employee who are not in management, because those are the people who really takes good care of his customers and guest to Atlantis.
I hope that this comment of mine to be taken in consideration. If not, I wanted to this for a long time to be able to express my point of view as a loyal customer since 1992.