Okay, let's see if I understand this "new" slot club approach:
1. The comp/cashback rate has been savaged: what used to be .33
comps/cashback is now .1, or, worse, .05 on the pitifully few FPVP
that remain.
2. In order to not have every local player run screaming to other
competing casinos, they are offering frequent 3X days, and not so
frequent 7X point days, which roughly compensate the negative EV
player for the reduction from .33 to .1 (restoring the rate to .3),
and also making up for the loss of "holiday double points". The FP
player has been all but told to take his or her stinkin' carcass
elsewhere.
3. The mailers are roughly the same as they have been, with an
optimal return of about 1% (if you count comps at face value) at
$10K coin-in.
4. The out-of-town visitor should keep moving, stranger.
Do I have this about right?
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