Sports | KRG Hospitality

Woodford Reserve 2024 "Adorned with Flowers" bottle

March 6, 2024by David Klemt David Klemt No Comments

Woodford Reserve 2024 Derby Bottle

Woodford Reserve Unveils 2024 Kentucky Derby Bottle

by David Klemt

Commemorating the 150th running of the iconic Kentucky Derby, Woodford Reserve’s 2024 Derby bottle is now available for purchase.

In keeping with tradition, the bottle’s label features a Kentucky artist’s work.

For 2024, Woodford Reserve collaborated with artist Wylie Caudill, who crafted the painting “Adorned with Roses.” The art is a clear nod to another tradition: adorning the winning horse with a garland consisting of hundreds of roses, the Derby’s official flower.

This should grab an operator’s attention for a few reasons. To start, some operators enjoy collecting bottles. So, they can now get their hands on this annual release.

Further, it’s time to start thinking about this year’s Derby, which takes place on May 4. Millions of people watch the Kentucky Derby every year. Operators need to ensure their Mint Juleps and riffs are dialed in, including the appropriate drinkware.

Impressively, while it has been postponed twice, it has never been cancelled.

Traditionally, the Derby is run on the first Saturday in May. The race was run in June in 1945 due to World War II. And in 2020, Covid-19 restrictions pushed the race to September. Incredibly, a world war and a pandemic couldn’t thwart the Derby.

2024’s race is the 150th running of the Kentucky Derby. It stands to reason that even more people will show an interest in watching and celebrating this year’s race. Woodford’s commemorative bottle at least be on the back bar of any venue running a Derby promotion. It would also make for a great raffle item on race day.

Finally, we celebrate International Whiskey Day this month. The more special edition whiskeys available on March 27, the better.

Learn more about this year’s Woodford Reserve Derby bottle below. Cheers!

Woodford Reserve Releases 2024 Bottle Celebrating 150th Anniversary of the Kentucky Derby

Bottle features the art of Kentuckian Wylie Caudill

Versailles, KY (March 5, 2024) — Woodford Reserve®, the Presenting Sponsor of the Kentucky Derby®, is honoring “The Most Exciting Two Minutes in Sports®” with the release of its 2024 commemorative Derby bottle.

This year’s special release celebrates the 150th running of the Kentucky Derby® and features the artwork of Kentucky native Wylie Caudill, known for his bold, repetitive patterns, and his signature roses. His painting, “Adorned in Roses,” depicts a racing thoroughbred covered with red roses, with a background of multi-colored roses.

The one-liter bottle retails for $55 and is available for purchase globally. A special presale on ReserveBar begins March 5. It also is for sale at Woodford Reserve Distillery and in the Woodford Reserve online store starting March 5.

“Wylie’s artwork embodies the spirit of Woodford Reserve, the liveliness of Churchill Downs during race day, and the heart of Kentucky,” Woodford Reserve Master Distiller Elizabeth McCall said. “We’re thrilled to have a Kentuckian’s artwork on our bottle during this monumental year.”

Caudill grew up drawing and painting in Cynthiana, Kentucky. During college, he spent his free time creating chalk drawings, leaving his mark around campus and leading to his title ‘chalk guy’ among locals. He expanded his public street art to painting murals in Lexington after college, and many of his murals can be seen across Kentucky today. Caudill also created the Official Art of the Kentucky Derby for Churchill Downs for the 150th Derby, marking the first year that Woodford Reserve and Churchill Downs used the same artist.

“As a Kentucky native, I am honored to be a part of this milestone celebration,” Caudill said. “I have painted my signature roses many times over the years, but this one is truly special. The colorful roses symbolize the diverse Derby fans from around the world, connecting people beyond the track.”

Woodford Reserve’s Derby bottle has been an annual collector’s item anticipated by bourbon and racing fans since 1999.

About Woodford Reserve

Woodford Reserve, “Presenting Sponsor of the Kentucky Derby,” is crafted at the historic Woodford Reserve Distillery, tucked in the heart of thoroughbred country in Versailles, Kentucky. A National Historic Landmark, the Woodford Reserve Distillery represents craftsmanship with a balance of historic heritage and modern practices. Woodford Reserve is a product of the Brown-Forman Corporation, a premier producer and marketer of fine quality beverage alcohol brands including Jack Daniel’s, Finlandia, Korbel, Tequila Herradura, Old Forester, Sonoma-Cutrer and Chambord. Please enjoy your bourbon responsibly. To learn more about Woodford Reserve, visit us www.woodfordreserve.com or check us out on Facebook at www.facebook.com/woodfordreserve.

Disclaimer: Neither the author nor KRG Hospitality received compensation, monetary or otherwise, in exchange for this post.

Image provided by Woodford Reserve

A laptop next to a roulette wheel, surrounded by poker chips, dice, and playing cards

October 24, 2023by David Klemt David Klemt No Comments

What Does the Future Hold for iGaming?

What Does the Future Hold for iGaming?

by David Klemt

Like this, but in your pocket, basically.

With so many states legalizing sports betting, the next frontier appears to be Internet gaming or “iGaming.” So, why is it taking so long to move forward?

It seems like a no-brainer, right? Consumers are carrying the internet around with them in their pockets and on wearables. If it’s good business to meet consumers where they are, giving them the ability to place bets online makes sense.

Further, commercial gaming is worth about $60 billion in the US alone. And depending on the source and how we define the term, around 60 percent of adults in America gamble at least once per year. That number climbs to perhaps as high as 85 percent for adult Americans who gamble at least once in their lifetime.

So, those are all impressive numbers. Tens of billions of dollars, hundreds of millions of potential bettors… Intriguingly, tens of millions of Americans plan to bet on the current NFL season.

Per a 2023 Global Gaming Expo panel, iGaming generates nearly $6 billion in revenue annually. Panelists posit this form of gaming will generate $30 billion if and when casinos embrace it.

Incredibly, iGaming, in the handful of states where it’s legal, is generating similar revenue to traditional gaming. This is notable because it hasn’t taken decades to achieve.

Then, there’s sports betting. If sports betting is now legal in dozens of states throughout the country, why isn’t iGaming legal in most of the country as well? Interestingly, the answer to that question ties into sports betting.

iGaming and the current evolution of sports betting are two topics I’m just starting to really dive into. So, I’ll do my best to share what I’m learning accurately and with actionable information.

Slow Progress?

On May 14, 2018, the Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA) of 1992. With PASPA gone, sports betting is legal in more than 30 states and Washington, DC.

Additionally, legislation to legalize sports betting has been introduced in more states. So, we can expect this form of betting to gain traction in more of the country.

Ironically, it’s the explosion in sports betting over the past five years contributing to the slow progress of iGaming.

Simply put, according to Howard Glaser of Light & Wonder, is that dozens of states just agreed to legalize sports betting. During the G2E panel he moderated, Glaser explained that it’s not a wise idea to now approach the same governing bodies and say, “Hey, we forgot to add iGaming when we asked you to legalize sports betting. Can you throw that in now?”

Another item to consider is the fear of casinos in cannibalizing their existing business. Other factors are responsible gaming (who’s keeping tabs on a bettor’s behavior if they’re behind a screen?) and the illegal or “invisible” iGaming market.

So, for now at least, iGaming is legal in just eight states: Connecticut, Delaware, Michigan, Nevada, New Mexico, Pennsylvania, Rhode Island, and West Virginia. However, Nevada isn’t even in the regulatory stage yet, and Rhode Island won’t launch iGaming until some time in 2024.

According to Anika Howard, the president and CEO of WONDR Nation and a guest on Glaser’s G2E panel, Connecticut is further developing iGaming regulations.

Now What?

For now, we wait and watch. Connecticut and New Jersey appear to be leading the way for iGaming in the US. However, the G2E panel notes that the US is far behind the UK when it comes to iGaming.

In fact, Howard says that when it comes to this category, the US is learning from the UK and how they approach it.

Further, the panel appears to agree that many people in the industry have their eyes on Nevada. There’s a belief that industry professionals in Nevada are taking their time so that when they launch iGaming it will be of great benefit to the state of Nevada’s overall gaming industry rather than a threat.

In other words, when Nevada goes live with iGaming, the state will likely be the country’s leader. That is, of course, speculation. After all, New Jersey legalized online casinos back in 2013.

However, the legislation that made online casinos legal in the state expires in November. I would expect there’s already a plan in place, and New Jersey may remain as the iGaming leader for some time.

For now, operators who want in on the iGaming action can plan ahead. One way to do this is to secure their iGaming domain (or domains) so that when it goes legal, they’re prepared.

It’s logical to expect more iGaming dominos to begin to fall in 2024, and for even more to topple in 2025. Are you ready?

Image: Aidan Howe on Unsplash

October 23, 2023by David Klemt David Klemt No Comments

Intersection of Streaming & Sports Betting

The Intersection of Streaming and Sports Betting

by David Klemt

The popularity and ubiquity of sports betting is exploding throughout the US, and its seemingly inescapable presence is due in large part to streaming.

This is one topic we learned about during our first visit to the Global Gaming Expo, also known as G2E.

It’s true that gaming and hospitality are two distinct, different industries. However, they’re inextricably connected. And with gaming platforms and mobile devices making it even easier to place bets on sports, that connection is only getting stronger.

Now, I’m going to take a moment to make my relationship with gaming clear. First, I’m not an expert on the industry. Second, I rarely partake in gaming even though I live in Las Vegas. I’ll throw the odd twenty into a small handful of specific slot machines, but that’s the extent of my gaming experience. I think it has been a decade since I last played craps.

So, I’m going to do my best to share what I learned during G2E. The show is an educational experience for me, and I feel that hospitality business operators can benefit from its sessions.

As far as the hospitality-gaming relationship, however, I certainly believe they’re complementary industries. This is absolutely true in Las Vegas, and it’s true in other markets as well. If casinos weren’t aware that hospitality is crucial to keeping guests returning and risking their cash on games, they wouldn’t bother focusing on dining, drinking, nightlife, and other hospitality amenities.

I’m also confident saying Las Vegas in particular wouldn’t have generated nearly $15 billion in 2022. And casinos throughout America wouldn’t have generated over $60 billion last year.

In summary, the connection between hospitality and gaming is what drew me to G2E this year.

Watershed Moments

One of the sessions I attended was “Streaming X Sports Betting: The Future of Engaging Gen Z.” Adam I. Kaplan, the chief operating officer of SportsGrid, was the speaker.

SportsGrid, I’ve since learned, is a multimedia sports betting network. According to Kaplan, the ad-supported network is available on more than 40 platforms and accessed by millions upon millions of mobile devices

Users can access SportsGrid 24/7 via smart TV or their dedicated app. Additionally, people can stream SportsGrid via other platforms, such as:

Roku;
Prime Video;
YouTube TV;
Sling;
Freevee; and
Plex.

Per Kaplan, we can trace the creation of SportsGrid to two genesis points: the creation of Napster, and the introduction of the iPhone.

The launch of Napster in June of 1999 was, of course, a watershed moment. And its influence on society is undeniable. According to Kaplan, the platform’s influence included the belief that content should be free.

When the iPhone hit the scene in January of 2007, it, too, was a massive milestone. Part of its success, as Kaplan pointed out, was how easy it made for users to engage with content.

Taken together, Napster and the iPhone have “taught” people that content should be free and easy to access. And their launches have led to the rise of iGaming and sports betting.

Sports Betting Repeal Day

Like hospitality, sports betting has their own Repeal Day. Whereas bars and restaurants celebrate on December 5, gaming would celebrate May 14.

That’s the day in 2018 that the United States Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA) of 1992. Essentially, PASPA banned sports betting in the US, with narrow exceptions for four or five states.

When PASPA was overturned on the basis that the act violated the Tenth Amendment (states’ rights), several states made moves to legalize sports betting. Currently, sports betting is legal in some form in more than 30 states and Washington, DC.

During the five-year period following the end of PASPA, sports betting has gained massive traction throughout the US. Several publications report that the NFL in particular sees the most betting action.

According to the American Gaming Association, 73 million Americans plan to bet on the 2023-2024 NFL season specifically. That’s up from 46 million in 2022, a huge leap.

Of all adults who said they’d bet on sports this year, 14 percent (more than 35 million people) plan to place their bets online.

Per SportsGrid’s Kaplan, people aged 40 and under—so, Millennials and legal-age Gen Z—make up the majority of sports bettors. Looking at sports betting as an engagement driver, businesses should see the opportunity to attract sports bettors as customers and keep them loyal.

Skin in the Game

As Kaplan points out, one reason that sports betting drives engagement is the sense a bettor has of having “skin in the game.”

Well, they aren’t the only people who want skin in the sports betting game.

Since PASPA ended, hospitality venues across the country have attempted to get in on the sports betting phenomenon. This makes perfect sense, particularly for sports bars.

What operator in that space wouldn’t love the ability to stream content from a platform like SportsGrid, FanDuel TV, or DraftKings Network, with their guests permitted to place bets while inside the venue, legally?

That opportunity could prove incredibly lucrative, generating significant traffic and sales. And that’s to say nothing of the marketing, promotions, and guest loyalty opportunities. Think of what legalized on-premise sports betting could do to attract fantasy sports league participants…

Additionally, venues that can stream sports betting content and encourage betting on-premise (again, legally) could prove incredibly popular with one of the age groups operators focus on the most: the 21- to 34-year-old segment.

So, it appears one of the next frontiers for hospitality is pushing for the legalization of sports betting on-premise. Operators in favor of guests being allowed to place bets while onsite can either wait and see or actively engage their lawmakers.

What a time, eh?

Image: Adrian Curiel on Unsplash

September 27, 2023by David Klemt David Klemt No Comments

Canadians Preparing for NHL Opening Week

Canadians Preparing for NHL Opening Week

by David Klemt

Now nobody can accuse me of showing any NHL teams favoritism. Go Knights Go!

As one should expect, Canadian hockey fans are preparing for the 2023-2024 NHL season opener, and those preparations include on-premise visits.

On Tuesday, October 10, three teams will face off to start the regular season.

First, the Nashville Predators take on the Tampa Bay Lightning. Then, the Chicago Blackhawks will face the Pittsburgh Penguins.

Finally, after raising their brand-new, first-ever Stanley Cup championship banner, which they won just six seasons after their founding, the fastest an expansion team has accomplished this feat, the Vegas Golden Knights will welcome the Seattle Kraken to T-Mobile Arena in Las Vegas.

According to on-premise data from CGA by NIQ, Canadian hockey fans are planning to celebrate the start of the season at bars and restaurants. That means operators have less than two weeks to finalize plans to attract these guests to their venues.

In particular, operators in four provinces need to ensure their NHL opening week plans and promotions are good to go. Per CGA’s data, consumers in Québec are showing the greatest interest in watching this season’s opening games in bars and restaurants. Following and driving on-premise interest are British Columbia, Ontario, and Alberta.

Of course, operators throughout the provinces who serve sports fans should be ready to welcome hockey fans.

For our Canadian readers, the Montréal Candiens will take on Toronto Maple Leafs on Wednesday, October 11. On that same day, the Ottawa Senators face the Carolina Hurricanes; the Edmonton Oilers face off against the Vancouver Canucks; and the Winnipeg Jets will battle the Calgary Flames.

Click here for the full opening week schedule.

Why Does this Matter?

I may catch some flack for this but technically, any bar with televisions events can be a sports bar.

Yes, I understand that’s a very simplistic view. And yes, of course that comes with the caveat that sports should be authentic to a given concept. Also, showing sports should take into account the expectations of bar or restaurant’s guests.

In other words, most bars and restaurants can benefit from sports but they’d likely be a hindrance to some high-end cocktail bars and fine-dining concepts.

With that out of the way, operators who want to establish themselves as the go-to spot for sporting events need to nail opening week. That means having all of their ducks in a row.

Do they have the proper business TV packages in place? Will promotions and programming appeal to the target audience? Are the screens and audio system high quality for the best viewing experience? Does the menu offer sports fans what they want for great value? Is the team pulling out all the spots to make viewing fun?

Regarding the menu, CGA by NIQ has a couple of valuable insights. First, beer is the top beverage alcohol category among those planning to celebrate NHL opening week on-premise. Second, among those who plan to consume spirits, tequila is the top pick. Sounds like offering beer and tequila shot pairings could perform well.

However, operators should certainly take into account their own data. What F&B items are selling the best? Which items performed the best this same time last year?

Between 15 and 16 million Canadians follow hockey. That’s a vast pool of potential customers to convert to loyal guests. The importance of becoming their sports home base, their third spot, cannot be overstated.

This coming opening week, lay the groundwork to become the go-to place for hockey fans, fantasy sports competitors, and sports bettors.

Image: cottonbro studio via Pexels

September 12, 2023by David Klemt David Klemt No Comments

Fantasy Sports, Sports Betting on the Rise

Interest in Sports Betting and Fantasy Sports Grows

by David Klemt

A recent CGA by NIQ On Premise Impact Report for August, 2023 reveals an interesting insight into consumer behavior and expectations.

To be clear, all the data on this new one-pager is useful. However, a particular revelation stands out from the rest, for me.

The CGA by NIQ US On Premise Impact Report for August 24, 2023 addresses:

total on-premise sales;
dining versus drinking occasions;
cost of living impact in the past month; and
consumer interest in fantasy sports and sports betting.

It’s that final bullet point that I find compelling. However, let’s check out the numbers for the first three points before we jump into sports.

To download your own copy, please click here.

August by the Numbers

In comparison to August 20, 2022, check value is up one percent to $50.09. Ticket count, however, is down one percent to 1,569.

As one would expect, dining occasions outweigh drinking occasions. Seventy percent of consumers have dined out in a restaurant or bar in the past two weeks.

Compared to July 2o23, that’s a two-percent increase in dining traffic.

Over the course of the same amount of time, 40 percent of consumers have gone drinking in a bar or restaurant. That’s a decrease of one percent in comparison to July 2023.

Considering that many families travel in the month of August before kids head back to school (or to drop them off at university), these numbers make sense.

Of course, cost of living may also be impacting dining and drinking occasion. Most consumers report no changes to the frequency with which they go out for drinks. Some consumers even report going out more frequently for drinks. But some are also cutting back.

For example, 28 percent of consumers have decreased how often they go out for drinks. Eleven percent are consuming lower quality drinks when they do go out, and nine percent are decreasing the “quality” of the establishments they visit.

That said, 20 percent of consumers are increasing drink quality and 21 percent are increasing establishment quality per visit. Seventeen percent are increasing how often they go out for drinks.

Fantasy Sports & Betting

This, as you may have guessed, is the statistic that I find most compelling.

Fantasy sports and sports betting has been on the rise for some time in the US. Who among us isn’t the target of sports-betting-app ads when streaming or watching sports?

Sports bar operators and operators who can position themselves as sports fans’ “third spot” will find this next number interesting.

According to CGA by NIQ’s latest report, 63 percent of consumers revealed they had plans for NFL week one. Those plans included participating in daily fantasy sports or sports betting.

So, it would be wise for operators who will air NFL games this season to ensure they’re catering to fantasy football and sports betting fans. Becoming the hub for fantasy sports groups in your area can increase traffic, sales, and loyalty. And, of course, it opens up the door to many traffic- and revenue-generating sport- and team-themed LTOs.

Again, to download this new report for yourself, please click here.

Image: Adrian Curiel on Unsplash

Mint Julep in copper Woodford Reserve cup

May 23, 2023by David Klemt David Klemt No Comments

Sugar. Water. Whiskey. Mint.

Sugar. Water. Whiskey. Mint.

by David Klemt

…and sometimes Angostura bitters.

Get ready to break out the stainless steel and copper cups, whiskey, and crushed ice: National Mint Julep Day is right around the corner.

This classic cocktail’s traditional time to shine—Derby Day—has come and gone. However, we celebrate this ice-cold drink on May 30. This year, FYI, this bar and restaurant holiday falls on a Tuesday.

While many people associate the Mint Julep with the Kentucky Derby and the South, the drink traces its origin to Persia. According to some historians—the fun experts who love researching culinary and drinking history—”julep” is a derivation of “julepe,” which derives from “golâb.” “Julepe” is a Spanish Arabic word that comes from “golâb,” a Persian word that translates to “rosewater.” As one might expect from the translation, golâb was a drink made by combining water with rose petals.

Over time, it’s believed, the rose petals were replaced by people making Juleps in the Mediterranean. The replacement? Mint leaves native to the area.

Eventually, like so many centuries-old drinks, medicinal elements were introduced. The English Julep, for example, added alcohol and camphor. To think, there are decades of human history where doctors prescribed cocktails to patients.

The Kentucky Connection

Of course, like so many centuries-old drinks, it’s difficult to separate the fictitious from the factual. Some say mentions of the Mint Julep can be traced to 1770s, others say the early 1800s.

As far as the Kentucky connection, there are historians that say Henry Clay, who served as a Kentucky senator and congressman, brought the Mint Julep to Washington, DC in 1850. Clay is said to have shared the recipe with the Round Robin Bar at the Willard’s Hotel (now the Willard InterContinental). The hotel’s website makes reference to this part of the Mint Julep’s history (or legend, as it were).

Chris Morris, Master Distiller for Woodford Reserve for 20 years and now the distillery’s Master Distillery Emeritus, supports the idea, historically, that the Mint Julep was a medicinal cocktail.

“The Mint Julep has a long history, and in the 1800s it was considered a morning drink,” Morris has said. “People working on horse farms or in the horse-racing industry during this time period may wake up with aches and pains.”

It’s safe to say Morris and Woodford know their way around a Mint Julep.

Further, if you dig deep enough, you’ll come across mentions of horse jockeys taking home Julep cups as trophies. Literal trophy cups, if you will.

Consequently, given its ties to horse racing, it makes sense that the Mint Julep would one day become the Kentucky Derby‘s official drink. Of course, as this brief and (hopefully mostly) factual history shows, the Mint Julep undoubtedly had a presence at the famous race long before 1939.

Craft Your Own

Below you’ll find two recipes for your National Mint Julep Day LTO menu. However, this is one classic that people don’t seem to gatekeep much.

In fact, industry experts like Chris Morris encourage experimentation and creation of signature Mint Juleps. So, engage your bar and culinary teams, highlight flavors authentic to your menu and brand, and come up with your own variation.

To help you get started, bear in mind that while spearmint is a common ingredient, there are other species of mint available. The base spirit can also be substituted. Per some cocktail historians, genever-powered Mint Juleps were a common variation in the 1800s.

There’s nothing wrong with sticking to tradition. However, the Mint Julep practically begs for experimentation. Flavored syrups, all manner of spirits and liqueurs, garnishes… National Mint Julep Day is perfect for the LTO treatment.

Cheers!

Mint Julep

2 oz. Bourbon
0.25 oz. Simple syrup
6 to 8 Mint leaves
Mint sprig to garnish
Angostura bitters to garnish (optional)
Crushed or shaved ice

Add simple syrup and mint leaves to Julep cup, and muddle. Next, add bourbon and crushed or shaved ice. Tightly pack ice in cup, then stir until frost builds on exterior of Julep cup. Top with more crushed or shaved ice, and form a dome on top of cup. Add mint sprig to garnish. If desired, also garnish with two or three drops of Angostura bitters.

Woodford Reserve Secretariat’s Mint Julep

This recipe is for the special Mint Julep served at this year’s Kentucky Derby.

2 oz. Woodford Reserve Kentucky Straight Bourbon Whiskey
1 oz. Housemade chestnut liqueur
1 sprig of Mint, for garnish
1 stalk of Virginia bluebells, for garnish

Pack a Julep cup with crushed ice, making sure to make a dome over the lip of the cup. Add the whiskey and liqueur to a mixing glass and stir. Pour over the prepared cup. Garnish with one sprig of mint and one stalk of Virginia bluebells.

Should you prefer a more traditional build, express the oils of a mint leaf inside the cup. Add the bourbon, chestnut liqueur, and crushed ice. Garnish with more crushed ice, mint, and Virginia bluebells, then serve.

Image: Adam Jaime on Unsplash

May 17, 2023by David Klemt David Klemt No Comments

Leverage These 3 Sports for Growth

Leverage These 3 Sports for Growth

by David Klemt

Sports receive more than three million mentions daily on social media and in online communities, and three sports are driving conversations.

Media-monitoring and SaaS platform Meltwater‘s recent report shows growth in media mentions and community engagement. The report, “2023 Industry Snapshot: Sports,” also identifies three sports that are growing globally.

Most restaurant and bar concepts, at least throughout North America, can benefit from sports. They have televisions, at least decent audio, and the proper licenses to air sports and other programs.

At the risk of oversimplifying, that means that any bar or restaurant can be a sports bar. Before anyone begins furiously hammering out an email to send me, I’m not saying any bar or restaurant can automatically become a great sports bar because they have TVs. I’m simply saying that operators who want to leverage sports and specific sporting events are at a good starting point to do so.

With that caveat out of the way, let’s check out what Meltwater has uncovered regarding sports.

Sports Conversations

According to Meltwater, sports is a hot topic every day of the year. On average, there are 3.16 millions mentions of sports each day.

And that’s just on a “normal” day. Last year, that number jumped to well over 12 million mentions during the FIFA World Cup.

Meltwater identifies 2022 as a particularly strong year in terms of growth for sports conversations. That boost is expected to carry into 2023, providing savvy operators with opportunities to leverage sports.

Per Meltwater, sports social media handles, hashtags, and keywords have grown by more than 20 percent. That’s significant growth.

Now, let’s look at the sports driving much of that growth.

Football

When I say “football” in this context, I mean the sport some people call “soccer.” So, not American football, which Dave Grohl and Crown Royal pointed out is a Canadian invention during Super Bowl LVII.

For the past few decades (at least), much has been made of Americans maligning football (soccer). Well, all the tropes of that mockery may be wearing very thin.

Last year, mentions of football keywords were up 56 percent—in the US. The second-place country was Nigeria with an increase of 33 percent.

Globally, the sport’s online conversations went up by 32 percent. The day of the FIFA World Cup final? That number exploded to 630 percent. Could be smart for operators to begin planning their World Cup promotions soon.

Baseball

There are some interesting stats surrounding baseball and online conversations.

Last year, conversations of this sport grew by just three percent. And for a country that claims the sport as their national pastime, American baseball convos saw a notable dropoff: a decrease of 11 percent.

However, baseball grew by nine percent in Canada in 2022. Japan saw an increase of 36 percent, and Venezuela was up 22 percent.

Unsurprisingly, the sport’s two largest organizations dominate baseball conversations.

Leading the charge, Major League Baseball mentions grew by 16 percent in 2022 globally, and by 54 percent in Japan. Right on MLB’s heels, Nippon Professional Baseball 23 percent globally and 28 percent in the US.

For those who are curious, three teams stood out in the baseball conversation: the Los Angeles Dodgers (+59 percent), New York Yankees (+55 percent), and NY Mets (+46 percent). However, LA Angels pitcher Shohei Ohtani saw truly incredible growth with an increase of 74 percent.

An important takeaway: Baseball fans in America appear quite interested in watching (or listening to) NPB. That gives operators another organization—and all their scheduled games—to leverage.

Formula 1

Ah, my favorite sport. I’m happy (for the most part) to see this motorsport growing around the world. In fact, Formula 1 keyword mentions grew 13 percent globally, and #F1 was among the hashtags used most in 2022.

On July 3, 2022, Ferrari driver Carlos Sainz, Jr. (driver #55) won the British Grand Prix at Silverstone. Red Bull’s Sergio Perez (#11) took second and Mercedes’ Lewis Hamilton (#44) took third. And on this day the F1 conversation skyrocketed, growing by 338 percent.

The country leading the way for F1-related keyword mentions in 2022 was Japan, growing by a staggering 91 percent.

Much of the increase in interest in F1 can be traced back to Netflix and its Drive to Survive docu-series (some call it a reality-TV drama).

Looking at American interest in the sport, it helps that there are now three races on the calendar that take place in the US: the Miami Grand Prix, the US Grand Prix at Circuit of the Americas in Austin, TX, and the Las Vegas Grand Prix. That’s three opportunities (Miami has already happened) for American operators to take advantage of this sport’s growing popularity.

Last year, former Aston Martin driver Sebastian Vettel (#5), Red Bull driver Max Verstappen (current champion and #1), and Ferrari driver Charles Leclerc (#16) saw the most growth in terms of individual drivers.

I can only hope that my other favorite motorsport, MotoGP, starts to become more popular throughout North America.

Takeaways

Some operators may find that sports don’t work for their concept, such as a high-end cocktail bar or fine-dining restaurant. Those are two venue types that tend to eschew televisions as they don’t work with their vibe and aesthetic.

That said, each operator must choose how to best implement sports and related promotions. This includes understanding which sports, teams, and players their guests like. Then, of course, it’s also a matter of gauging interest.

With that determined, operators must also decide how to make sports work with their concept. Some things to consider are themed F&B menus, sports-related LTOs, FoH uniforms, and how far to go with promotions. That latter consideration will depend on how rabid a fan base each operator is targeting. A truly dedicated fan base encourages some bars to “officially” support a certain team.

Another important consideration? Will leveraging a particular sport or team alienate other guests due to rivalries or a lack of interest or comfort? Sometimes the cost of implementing promotions includes pushing away a percentage of guests on particular days.

Because I live in Las Vegas, I have an array of venues available to me around the clock. It’s conceivable that I could find a home bar or restaurant to watch F1 and MotoGP. Personally, the capability of comfortably watching my two favorite sports would boost my loyalty and visits. However, there may not be a large pool of people like me in this market. Would a bartender want to turn on an F1 race just for me?

There’s a lot to consider when choosing how to best leverage sports. The upsides include converting customers to loyal, repeat guests; a realistic idea of what to consider in terms of labor and inventory for specific days, weeks, months, and seasons; and boosts in traffic, revenue, and online engagement (which in turn can translate to more traffic and revenue).

Image: Photo by PRAT clement via Pexels

2023 Woodford Reserve Secretariat Julep cups

April 14, 2023by David Klemt David Klemt No Comments

How to Make a $3,500 Mint Julep

How to Make a $3,500 Mint Julep

by David Klemt

If you want to craft an incredible $3,500 Mint Julep, the first step is to acquire one of 50 Woodford Reserve gold Secretariat Julep cups.

Now, should $3,500 seem a “bit” exorbitant, you can also opt for one of 100 silver Julep cups for $1,000.

Cup in hand, simply fill it with crushed ice and pour a refreshing Mint Julep over it. Et voilà—a delicious $3,500 or $1,000 Mint Julep!

Okay, so you’re probably wondering what I’m on about. Am I really suggesting you craft thousand-dollar-plus cocktails? I mean…if you have guests who’ll pay that much, yes, I am.

In reality, however, I’m making you aware of this year’s Woodford Reserve $1,000 Mint Julep™ charity program. This program is a longstanding Kentucky Derby tradition.

For 2023, the $1,000 Mint Julep™ will benefit the Secretariat Foundation. That makes sense given that this year marks the 50th anniversary of Secretariat winning the Derby.

The foundation, the brainchild of Secretariat’s owner Penny Chenery, is a non-profit that focuses on equine-related industry subjects, such as:

veterinary research into lameness of the horse;
Thoroughbred retirement and rehabilitation facilities;
therapeutic equestrian programs; and
general funding for related established charitable programs.

Silver and Gold

As you probably can put together yourself, there are 150 Secretariat Mint Julep cups available. One hundred are silver, 50 are gold. Respectively, they cost $1,000 and $3,500.

In keeping with this year’s theme of celebrating Secretariat and supporting the horse’s namesake charity, each features blue and white checkered silks in sapphires. The 2023 Mint Julep cups are handmade by Louisville, Kentucky jewelers From the Vault.

People who choose to support the charity via purchasing the gold cup will have their name engraved on the bottom of the cup. These cups also come with the autograph of Ron Turcotte, Secretariat’s jockey.

In addition to supporting the charity, people who buy one of the 150 cups will have access to the $1,000 Mint Julep Experience at Churchill Downs on Derby Day. (Which is also where and when buyers must pick up their cups.)

Secretariat’s Mint Julep

Alright, so let’s be more realistic. Only 150 people are going to splash out for the $1,000 or $3,500 Secretariat Mint Julep. And while supporting a charity like the Secretariat Foundation is a great thing to do, people are struggling.

So, below you’ll find the recipe for the Mint Julep variation that those attending the $1,000 Mint Julep Experience will be enjoying. It’s up to you if you want to offer it on Derby Day to raise funds for the Secretariat Foundation or a charity of your choosing. It’s perfectly reasonable to simply offer the refreshing cocktail as a Derby Day LTO.

2 oz. Woodford Reserve Kentucky Straight Bourbon Whiskey
1 oz. Housemade chestnut liqueur
1 sprig of Mint, for garnish
1 stalk of Virginia bluebells, for garnish

For our most bourbon-centric Bar Hacks podcast episodes—including episode 32 with Woodford Reserve—click here.

Images: Woodford Reserve

March 27, 2023by David Klemt David Klemt No Comments

Why Pickleball Should Have Your Attention

Why Pickleball Should Have Your Attention

by David Klemt

The explosive popularity of pickleball and its legions of rabid players should have the attention of restaurant, bar, and hotel operators.

In fact, the sport may just result in the next Topgolf-esque eatertainment concept.

According to an October 2022 Fortune article, pickleball is the fastest-growing sport in America for three years running. That article follows previous coverage from an array of publications that come to the same conclusion.

In Canada, the popular sport is also growing fast. It’s up against soccer, lacrosse, and cricket, but the numbers are impressive. In 2020, estimates showed 350,000 Canadian households playing pickleball. As of last year, that number was growing past 900,000.

Another sign that the sport is gaining incredible traction throughout North America? Doctors are encountering growing numbers of pickleball injuries. The Journal of Emergency Medicine says that about 19,000 people suffer pickleball injuries per year.

That may not seem like a lot when considering how many Americans play. According to the Association of Pickleball Professionals, there are 36.5 million Americans playing, from beginners to professionals.

Speaking of professional pickleball, there are professional leagues and teams. And those teams have the attention—and backing—of big-name sports celebrities. Major League Pickleball (MLP) boasts investments by Lebron James, Draymond Green, and Kevin Love. Tom Brady and Kim Clijsters are investing in an MLP expansion team.

Attention-grabbing Statistics

There’s a website—Pickleheads—that helps people locate pickleball courts. When I visit the site it shows me three casino resorts with courts immediately.

And the site just happens to have a page of useful statistics. I choose to accept that these stats are accurate.

Those who want to take a look themselves can do so by following this link. However, I’m going to share a few below:

Pickleball growth: 158.6 percent over the last three years
Top age bracket: 18 to 34 years old
Compound annual growth rate through 2028: 7.7 percent

Also per Pickleheads, the only popular sports with higher participation rates than pickleball are running and hiking.

The Next Topgolf?

The stats above should get operators’ creative juices flowing. The current growth of the sport along with the largest age group, growth projections, and support in the form of leagues, teams, and celebrities, is highly appealing.

Will a pickleball-forward eatertainment concept be the next Topgolf? It’s possible, and that’s why people considering their first or next concept need to look into pickleball.

The sport is perfect for our industry. It’s easy to learn, simple to play, and popular with most operators’ ideal age bracket—ages 21 to 34. However, pickleball is also very popular amongst the 50 to 70 set, a group with disposable income and time to indulge their interests.

Then there’s the undeniable fact that the sport is often described as fun and social. There are even articles lauding pickleball for encouraging networking.

Finally, there are organizations with which pickleball-centric eatertainment concepts can partner. An illuminating example comes from Shake Shack.

Toss and Spin, a racket sports organization, is partnering with Shake Shack this year. Their 2023 campaign is called the Shake Shack Pickleball Club. This nationwide activation centers around a nationwide tour across America featuring one-day pickleball clinics for all skill levels and tournaments.

One can only assume that this tour, backed by such a visible restaurant brand, will introduce even more people to pickleball. In turn, that creates an even larger pool of potential customers for the right concept.

Opportunity

We speak with a hospitality group pursuing an F&B-driven pickleball concept on the Bar Hacks podcast.

Brian Harper, a partner in Competitive Social Ventures and the company’s senior vice president of sales and marketing speaks about Pickle and Social on episode 94. Not only do his partners on the leadership team see potential for the sport, they love to play it themselves.

Should you think you have a solid idea for a successful pickleball concept, let us know.

Our industry standard feasibility studies will help you select the right market and site. Our fully customized concept development plans will help you and others visualize your big idea. And our in-depth business plan will provide a realistic roadmap for you to throw open your doors and march toward success.

Someone out there has the next big eatertainment concept inside their head. Is it you?

Image: Brendan Sapp on Unsplash

February 14, 2023by David Klemt David Klemt No Comments

Top X Super Bowl LVII Beverage Ads

Top X Super Bowl LVII Beverage Ads

by David Klemt

As everyone knows by now, the commercials that air during the Super Bowl are nearly as big a draw as the game itself and its famous Halftime Show.

But before we get into the ads, congratulations to the 2023 Super Bowl champions, the Kansas City Chiefs!

Of course, we can’t help but feel a bit of a sting. With an office in the great city of Philadelphia, we were cheering on the Eagles.

However, I think Super Bowl LVII featured one of the best matchups in the championships recent history. Also, I feel confident in saying that I expect Jalen Hurts and the Philadelphia Eagles to fight there way to another Super Bowl in the near future.

Super Bowl Ads

Big Game ads are famous—perhaps infamous—in part because of the cost for a 30-second commercial.

Per reporting, the price of a Super Bowl LVII ad was set at $7 million. That’s double the cost in comparison to 2012. A 30-second commercial cost $3.5 million during Super Bowl 46.

In other words, brands spend huge dollars on Big Game commercials, with the price increasing each year. After doing some digging, I found that anywhere from 70 to 100 ads will run during the Super Bowl. Assuming $7 million per ad, that’s just shy of $500 million to $700 million in ad revenue.

Companies wouldn’t spend that kind of money if they didn’t expect a healthy ROI. In fact, if you sell any of the items below you may see a sales bump.

And if you don’t sell some of the products below, you may want to consider doing so. That’s why knowing your guests, collecting data, and listening to what guests would like to see on your menu are so important.

Sure, some guests are brand loyal and don’t want to try new products. But there are plenty who are easily influenced by ads and seek out the products they see on their screens.

Bud Light: “Hold: Easy to Drink, Easy to Enjoy”

This would be my favorite Super Bowl ad if Crown Royal’s “Thank You, Canada” commercial didn’t exist.

The ad below is a worthy runner up.

Busch Light: “Cold + Smooth Survival Skills”

Crown Royal: “Thank You, Canada”

Personally, this is my favorite of the Super Bowl LVII beverage ads. Given that KRG Hospitality’s global headquarters is located in Toronto, Ontario, this shouldn’t come as a surprise.

I have to wonder how many people’s heads exploded when Dave Grohl thanked Canada for basketball and football as North Americans know it.

Heineken 0.0: “Ant-Man and the Wasp: Quantumania”

Michelob Ultra: “New Members Day”

Michelob Ultra: “Full Swing Gossip”

Miller Lite vs. Coors Lite vs. Blue Moon: “The High Stakes Beer Ad (Extended Version)”

If John Wick weren’t a loyal bourbon drinker, he’d probably appreciate this commercial the most. Of course, that would require John Wick to be a real person…

Still, excellent fight choreography, and you have to love Blue Moon’s strategy.