--- In vpFREE@yahoogroups.
<tralfamidorgooglyc
>
> The mistake that Vegas casinos are making is to think that Las
Vegas
> is such an attractive destination in itself that people will put up
> with lousy gambling and price gouging just to BE there. Well, in
the
> first place, as you note, it's a certain amount of hassle to get
> there: a long drive from just about anywhere, or the alternative of
> enduring airline travel into and out of one of the worst-congested
> airports in the country. In the second place, they no longer have
> exclusivity as a gambling destination-
> consider their "market" have closer-to-home options.
>
> In light of the above, you would think that Vegas casinos would try
> to retain a competitive edge in terms of offering the best gambling
> value available, but they've done just the opposite--because they
> have been temporarily able to sustain a hype-based marketing
> campaign that focused on gouging the new crop of equity-refugee
baby
> boomers flush with cash. This strategy has worked in the short
term,
> but it cannot be sustained. Once the casino's new class of victims
> has spent a couple of trips paying $300/night for rooms,
$200/ticket
> for shows, $100/meal for food, and on top of that, being nickel-and-
> dimed to death at every turn, from the cab ride to the minibar to
> the "resort fee" or "energy fee"; once the gambler finds that the
> price of his enjoyment is sky-high table minimums at games that
have
> a higher house percentage than at any time in human history; once
> they've been rode hard and put up wet by the casinos, and they take
> a sober look at what their fabulous Vegas vacation has COST
> them....they won't come back. Ever.
This has been the recent history and I agree it is not sustainable.
This is one of the reasons I see the current recession digging deep
into the casinos revenues. What will follow is more competitive
offerings. I don't think this will lead to hordes of new positive VP
machines, but I think the incentives will increase making current
machines more lucrative. The people WILL come back if the offers are
reasonable.
Dick
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