The other day I read a fascinating article about a Canadian guy who figured out how to determine whether scratch-off lottery tickets would be winners… without scratching them off. He decided not to take advantage of his discovery, because he realized he made more money as a statistician then he would have made taking advantage of the flaw. When he tried to tell the Ontario Lottery and Gaming Corporation, they thought he was some crackpot and ignored him. Finally, he got their attention when he sent them 20 tickets with predictions of their outcomes—he was right on 19 out of 20 of them. The article mentioned the names of a few U.S. based companies that work in the scratch-off lottery games, and I instantly wondered whether they had any entry level jobs. One of those companies is Scientific Games, which is headquartered in New York, NY but appears to be operationally based in Alpharetta, GA. Lotteries in the U.S. are a $50 billion market, and Scientific Games is “the primary instant ticket provider for 8 of the top 10 U.S. lotteries.” It may not seem as though there is a lot of room for innovation in lottery games, but Scientific Games has consistently proved otherwise.
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For the past couple of months we’ve been including more numbers than usual in our daily posts—things like three-year growth rates and annual revenues. Since we’ve been looking mostly at companies on the Inc. 500, we figure that it’s useful information. If simple numbers like those intimidate you, then today’s company is definitely not for you. However, if your response to our daily posts is to seek out more numbers and dig into annual reports and other similar documents, then you’re in luck. MCG is a Providence, RI based company that does mathematical, statistical, and strategic consulting. Their motto is “Nothing is too complex.” The first person listed on their Management Team page is their Chief Analytics Officer, so that should tell you a lot about MCG’s focus. And I almost forgot—MCG has grown at an 834.4% rate over the past three years to $2.2 million in revenue (they were only founded in 2006).
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My family is in Colorado Springs this week, and we’re staying at an amazing ranch on top of a mountain in the middle of nowhere. Yesterday we went back to civilization for the first time, and we decided to visit Cripple Creek—an old mining town that was home to “the last great Colorado gold rush” and more than half a billion dollars in gold ore. Unfortunately gold mining can only last so long, and Cripple Creek eventually became a ghost town. In 1991 voters legalized gambling in Cripple Creek, and the city was reinvigorated, albeit with most of the storefronts inhabited with gaming establishments. Our visit was interrupted by a massive hail storm, so we waited in the car until it let up a bit and ran into the first restaurant we could find. Turns out that it was a restaurant inside of a casino, and we had to walk past a bunch of slots and other machines to get a bite to eat. Of course, I couldn’t make it past the Game King video poker machine without playing, and luckily I came away from “lunch” 90 bucks richer. That gave me the idea to take a look at IGT (International Game Technology), the Reno, NV based gaming company that designs and manufactures the Game King machine among many other casino machines.
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Usually when I’m talking about jobs in gaming, I’m talking about jobs in the video game industry, but today “gaming” means something a little different. We’re going to take a look at WMS Gaming, a Chicago based company that produces the machines that you find in casinos. I found out about them from Brill Street’s list of Top 50 Gen-Y Employers in Chicago (which is surprisingly light on companies with entry level jobs available—I think the #1 thing a company can do to be “Gen-Y friendly” is hire new grads). WMS was founded in 1943 by Harry Williams, a Stanford engineer, who invented the tilt mechanism for pinball machines (which prevents cheating and damaging the machine). Luckily for WMS Gaming, the decline of the pinball industry coincided with the rise of the casino industry, so their transition to focusing solely on slot machines went pretty easily in 1999. I guess people would rather win—err lose—real money than “points.”
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