Mega-Resorts: The Monster that ate Las Vegas
Odysseus
I think that the following web page gives a good explanation of what
happened to the bargain rates I used to get in the 1990s.
http://www.ratelasvegas.com/hotels/analysis.html
To sum it up.
Before the mega-resorts rooms and food were cheap. The casinos made
most of their money from the tables. Comps were easy to get and worth
the effort of obtaining them. With the arrival of the mega-resorts
the casinos decided to attract the small time gamblers who preferred
slots. These gamblers could still get a value priced vacation.
Increasingly, casino management decided to focus on non-gaming revenues
to offset the high costs of running the huge hotels. They increased the
cost of rooms, food, show tickets, and souvenirs. Comps have been made so
difficult to get that, for the small time gambler, they are not worth the
effort to obtain. The small time gamblers are now being priced out of the
market.
"...As the Mega-resorts continue to get larger, and perforce more
expensive to operate and maintain, they are forcing the gaming consumer
to begin making harder and harder choices about where they can/will go
to spend their money; sometimes even having to decide not to partake
at all..."
DocDice
my experience over the last 35 years that the desire to go to Vegas
wains in many people for just that reason. That is, casinos decide to
get bigger and provide less for more. When this happens many people
decide to change the location of their vacations. Las Vegas has done an
admirable job of marketing itself the last 5 years. It will interesting
to watch and see if the changes I suggest in vacation habits actually
happen. If it does, Las Vegas wil have some quick-step dancing to do.
DocTCW
exhaustive study of the hotel/casinos in Vegas.
I really didn't get YOUR message out of the article however. And I do
agree with your analysis. The casinos are now secondary to the hotels,
at least in terms of sure income.
And in truth, this is sort of surprising to me with the proliferation
of gambling throughout the US. Maybe Katrina helped Vegas more than we
thought.
Tom
DocTCW
I've posted this before, but it bears repeating.
Once I was reviewing the information my host had on me to determine
comps at the GN, and I wasn't surprised to see almost all of the
various stats they had down. It really is a science.
One stat they had estimated really threw me. They had estimated my
"Expected Lifetime Loss" to the penny.
What this meant to me was that they have it figured that although a
small percentage of gamblers will become thoroughly addicted and
eventually crash and burn into oblivion, the majority will develop into
the casino's bread and butter, but after a certain number of years will
slowly fizzle out and quit gambling, realizing the futility of the
game. After 15 years of fairly heavy gambling, I definitely am on the
downside of their projected curve, and consequently am receiving fewer
and fewer comps, which is alright with me. I finally figured out, duh,
that NOT making and losing $200 bets will buy me some pretty nice meals
and pay for some very nice accomodations.
Tom
DocDice
$200 bets will buy me some pretty nice meals and pay for some very nice
accomodations. "
I really understand where you are coming from. My March Madness trip
may be my last for a while. I usually go out twice annually, however, I
have scheduled a September carribean diving/golf trip instead of Vegas.
If I can only figure out how to "roll dem bones" underwatrer?
Are you going to be able to be in Vegas in March as you planned?
Skip
It's not the mega-resorts, it's who owns them. When I worked at the
Horseshoe in the 60s, they made a ton of money even if their hotel,
buffet and restaurant continually ran in the red, just like the rest
of downtown. It was cheaper to eat at a hotel/casino than it was to
buy food. 6 of us rented an apartment in Las Vegas and a house in
Boulder City. The fridge in the apartment was always empty.
The strip wasn't much different. The "boys" figured maybe 15-20% of
the people who wandered in for the cheap buffets, shows and
attractions would drop money in a machine or at the tables.
They figured around 80% of the hotel guests would spend time in the
casino.
When the corporations took over from the "boys", they brought in the
bean counters who motto was, "Every part of the property must make a
profit."
The doomsayers said that this will be the end of Las Vegas, just as
they did when gaming became legal in Atlantic City and just as they
did when the Indian casinos started popping up all over the country.
Now, the doomsayers are saying that the hotels and casinos are pricing
the small time gambler out of the action. Considering most of the
visitors to Las Vegas are from California and most are small time
gamblers, one would think that they would stop coming to Las Vegas and
go to the local Indian casino for their gambling Jones. That isn't
happening.
The end of Las Vegas isn't in sight. Full planes land in Las Vegas
almost around the clock. The hotels and casinos are pretty much full
and people are paying the price increase. Las Vegas is making more
money than ever, evidenced by the constant building of new
hotel/casinos and additions to existing properties.
What has happened among the small time gamblers is a migration from
the strip to other areas, downtown and off strip properties, all the
way to Primm, because the rooms are more affordable. It's doubtful
any of the strip properties even notice.
Skip
Skip
Everybody's Gonna Be Happy
"Skip" <skipf...@yahoo.com> wrote in message
news:4q7kv1pg2rgd2797d...@4ax.com...
I wonder what the bar profits are these days.
Probably about 10 gagillion times what they used to be. I'd bet that some
properties make as much money off booze as they do their casino, if you
count all the drinks sold in those trendy expensive one word named
nightclubs.
Vegas really isn't so much about gambling anymore as it is partying,
especially for young people. Partying is expensive, especially in Vegas.
And you certainly don't get the same party atmosphere at the Flying Eagle
Casino in Bumfuck Washington, so they pay the $300 room rates and the $100
per person sushi dinner tabs.
Mega-corporate-homogenized-must-make-a-profit-in-every-department-resorts
won't be hurting anytime soon. The customer they're shooting for really
isn't the average gambler anymore, its the young person who wants to get
drunk, laid, and go high end shopping (or forced to go by their lay-ee),
with a little gambling thrown in to kill some time. High rollers are of
course still always welcome.
60 year old workaday Joe Shmoe with the baby blue baseball cap and the fanny
pack is becoming an anachronsim, and I doubt that causes much concern in the
offices of MGM, Sands, or Wynn.
EGBH
zenc...@comcast.net
go to the local Indian casino for their gambling Jones. That isn't
happening."
I know I do.
"And you certainly don't get the same party atmosphere at the Flying
Eagle
Casino in Bumfuck Washington"
LOL
No, I don't: Saturday night I gambled at the Lucky Eagle casino in
Rochester, Washington.
I had a free meal (comped, as always), and played craps at a table with
a competent crew.
Screw the thonged 20-somethings high on "E," all I care about is
gambling.
FWIW, the reason tribal casinos are growing and Vegas is still raking
it in is because of the explosive growth in gaming across this fair
land of ours.
Many more people gamble than before, it has become a socially approved
form of entertainment.
As demand continues to spike, the casinos will move to accomodate it.
It will be fun to watch when the worm turns.
roll dem bones
Odysseus
>especially for young people. Partying is expensive, especially in Vegas.
>And you certainly don't get the same party atmosphere at the Flying Eagle
>Casino in Bumfuck Washington, so they pay the $300 room rates and the $100
>per person sushi dinner tabs.
I don't party or get drunk. I don't go to ultra-lounges since I don't care
about status. I don't pay $300 for a hotel room or $100 for a meal even
though I could easily afford to. I probably earn more than most of the
20 somethings who can't wait to get to Las Vegas and run up more credit
card debt.
At $300 per night plus taxes, I don't consider a strip casino to be a good
value. Most of the off strip casinos don't have the level of quality or
service I desire. I am flexible with my vacation plans. One option is to
wait for slack periods when the strip casinos lower their price. If that
does not happen, I will spend my vacation dollars at resorts and hotels
outside of the United States.
>
>Mega-corporate-homogenized-must-make-a-profit-in-every-department-resorts
>won't be hurting anytime soon. The customer they're shooting for really
>isn't the average gambler anymore, its the young person who wants to get
>drunk, laid, and go high end shopping (or forced to go by their lay-ee),
>with a little gambling thrown in to kill some time. High rollers are of
>course still always welcome.
>
>60 year old workaday Joe Shmoe with the baby blue baseball cap and the fanny
>pack is becoming an anachronsim, and I doubt that causes much concern in the
>offices of MGM, Sands, or Wynn.
>
That was my point of the original post. The mega-resorts are no longer
interested in the small time gambler.
slaz...@stargate.net
New Hyundai Plant in Alabama $1.1 Billion
2,000,000 square feet
1744 acres
2500 emplyoyees
or
Last U.S Super Aircraft Carrier built was about same cost as Wynn's +
Encore.
The casino's in Vegas can be compared to the red light district in
Amsterdam.
To locals our lives don't center around these things, but to travelers
you are in heaven!
As a many time vacationer to Vegas and poster to this newsgroup as
a vacationer, now a local posting a locals point of view, I can't
believe the difference in prospective.
When I'm driving down Eastern Avenue and seeing those planes landing
every 30 seconds, I wish I were on one!
Last night I had a dream, In the dream it was 5pm, my last night I will
be in Vegas, then reality set in the dream, that the next morning I
will be leaving Vegas not knowing if I will ever return and I was sad.
A few minutes later, I woke up in my bed in Vegas.
So when you are getting off that plane in Vegas look at all those
sad faces, who are sad because they are leaving, in a
matter of a few days it will happen to you.
Also when you are leaving look at all the happy faces that are
arriving!
Just go with the flow, you can't go back to the good old days, the
good old days for most visitors is now, not some tired senior citizen
with failing memories.
dr. Baf
Walt
<slaz...@stargate.net> wrote:
> Comparing cost: Wynns + Encore about $4 Billion
>
> New Hyundai Plant in Alabama $1.1 Billion
> 2,000,000 square feet
> 1744 acres
> 2500 emplyoyees
New Hyundai plant on the Strip near Wynn: $20 billion. Wynn is a
bargain!
> Last U.S Super Aircraft Carrier built was about same cost as Wynn's +
> Encore.
If you lay Wynn and Encore on their sides, they can serve as 2 aircraft
carriers.
> The casino's in Vegas can be compared to the red light district in
> Amsterdam.
I'd sure pay to see a billion-dollar whorehouse.
--- Walt