I disagree. G&C has always targeted newbies, they are the most wonderful players on earth, loyal and they know nothing of bonus hunting. Yes, they are harder to convert, yes they need education about payment methods and really everything, but if you do well by them and choose decent places for them to play, they will be loyal and you will be seeing them come back to you for years. Especially if you make yourself available and have the patience to explain things personally.
Of course in this business everyone has to find their own niche and do what they feel most comfortable doing. One is always best at what one likes best.
All segements of the player population can be profitable if treated appropriately. Fast or easy revenues do not always equal the largest possible renvenues.
And of course I agree with all who say that the quality of your site makes all the difference. But – we all had to start someplace.