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Casino Las Vegas Strip casinos hitting the skids.

Discussion in 'Casino Forum' started by Tinhorn Gambler, Jan 4, 2018.

  1. Tinhorn Gambler

    Tinhorn Gambler Member Lineage to Founders

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    Las Vegas Strip casinos hitting the skids.

    The latest news coming out of Las Vegas is Bad news.

    Of course the bad news is the Strip casinos are doing lousy in the gaming revenue department with two consecutive months (October & November) of 6% decline from last year.


    Perhaps the new policy of charging for parking has something to do with it.

    It doesn’t make dollars and sense when gambling customers are driven away for the sake of the casinos … Pay (Parking) to Gamble.

    Paying to park at the casino sounds greedy to me. The casinos already have the edge with their gambling … why add insult to injury. The casinos high priced food and entertainment does not justify … that extra customer parking expense either.

    This unpopular opinion to charge for parking didn’t deter the casinos, but hopefully more losses of revenue will do the trick.


    Attached is an article from "Gaming Today" by Robert H.Mann expressing his opinion on this issue:

    Industry: Are parking fees, poor odds taking their toll on Las Vegas Strip?
     
  2. superrick

    superrick Active Member Founding Member

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    I won't set foot in a strip casino as long as the charge for parking! Nobody else should either tell all of your friends to go off of the strip!
     
  3. Harley

    Harley Active Member Lineage to Founders

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    The Lucky Dragon Casino had free parking but went out of business, so it wasn't the parking fees that hurt them

    I don't mind the parking fees on the Strip, it keeps away the fleas so that we have don't have to deal with them on the craps table ..... besides, parking on the Strip is free for real players anyway .... only fleas have to pay for parking

    Every day over 500 parking spaces in every parking Strip garage now, never a problem to find a spot .... actually never was, just casino corporate greed to charge for parking, but it has its advantages in keeping away the fleas
     
    Last edited: Jan 4, 2018
  4. Tinhorn Gambler

    Tinhorn Gambler Member Lineage to Founders

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    Superrick

    I agree the strip is not what it use to be.

    Gambling has taken a back seat to the nightclubs, eateries, shows, attractions, exhibits and party atmosphere on the strip.

    Most locals I know are avoiding the strip and are getting better value … gambling off the strip.
     
  5. Tinhorn Gambler

    Tinhorn Gambler Member Lineage to Founders

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    Harley

    As for the flea issue…

    They are everywhere on the strip, and in some of the casinos. They are the mostly party people who came to have fun, drink, and be a nuisance.

    They are not the gamblers or the diners the casino needs. The free parking or paid parking does not deter these fleas. The flea issue in its self …. is destructive.

    If the strip paid parking was meant to deter fleas it’s also deterring many good strip customers.

    The Strip downward gambling revenue spiral … undoubtedly has a lot of more problems, including making locals pay for parking.

    I don’t expect December’s strip revenue to break the slump.

    I agree the free parking didn’t help the Lucky Dragon casino from closing shop. I believe there are two main reasons for their demise. One.. was the faulty business model which targeted only certain clientele and the other is their location.
     
    Last edited: Jan 5, 2018
    Harley likes this.
  6. Harley

    Harley Active Member Lineage to Founders

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    THG... I agree about the Lucky Dragon, so many problems with their business model, not enough comps, machines too tight, no real craps table, etc.
    ... as I mentioned, good Strip customers, whether local or not, still do not have to pay for Strip parking .... Strip Casinos simply cater to larger bettors and larger bettors do not have to pay for parking .... I am by no means a black chip bettor, but I have never paid for Strip parking at MGM or Caesars and should never have to under their current rules (knock on wood)
     
  7. Tinhorn Gambler

    Tinhorn Gambler Member Lineage to Founders

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    Harley

    It’s nice to hear that large bettors in many of the strip casinos are receiving comped parking.

    And yes, I too, have enjoyed the strip comped rooms and amenities with the large bettor action in the past. (Caesar’s, Paris, Bally’s, Harrah’s, Flamingo, Tropicana, Venetian, Palazzo , Wynn, Riviera )

    However, I’ve come to realize there are better options elsewhere and I don’t need to be the big bettor to enjoy the gaming challenge and make a few bucks. Plus I don’t have deal with that many fleas off the strip.

    The real issue becomes … are the strip casinos out of the woods and/or are they still vulnerable! Caesar’s just went through bankruptcy to stay alive … plus there are many dormant hotel/casino projects still unfinished on the strip.

    But on the bright side of things … Las Vegas has a unique habit of reinventing itself… we have gone through “Gambling Town” to “Party Town” …“What happens in Vegas stays in Vegas.”

    And now we’re embarking on a becoming a “Sports Town,” with the Raiders, Golden Knights, and possibly a women’s professional basketball team or a soccer team.

    It will be interesting to see what impact this has on the Las Vegas strip.
     
    Last edited: Jan 6, 2018
  8. Tinhorn Gambler

    Tinhorn Gambler Member Lineage to Founders

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    I consider myself a table’s game player and not a slot player.

    But for those that enjoy the slots for their gaming entertainment … keep in mind that the Las Vegas strip has the worst slot payback percentages compared to its surrounding area.

    To me it’s just another reason to think the strip is not interested in giving the customer a fair shake.


    1 cent Slot Machines

    The Strip - 88.49%

    Downtown - 88.93%

    Boulder Strip - 90.57%

    N. Las Vegas - 90.82%

    5 cent Slot Machines

    The Strip - 91.88%

    Downtown - 93.39%

    Boulder Strip - 96.01%

    N. Las Vegas - 95.47%

    25 cent Slot Machines

    The Strip - 89.97%

    Downtown - 94.41%

    Boulder Strip - 96.56%

    N. Las Vegas - 96.45%

    $1 Slot Machines

    The Strip - 92.63%

    Downtown - 94.76%

    Boulder Strip - 95.90%

    N. Las Vegas - 95.79%

    $1 Megabucks Machines

    The Strip - 86.81%

    Downtown - 86.95%

    Boulder Strip - 87.22%

    N. Las Vegas - 87.83%

    All Slot Machines

    The Strip - 92.00%

    Downtown - 92.78%

    Boulder Strip - 94.37%

    N. Las Vegas - 93.56%
     
  9. Neal Pace

    Neal Pace Member

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    What do you think is missing from the Vegas Strip now? What's been lost along the way?

    I've only been twice because I live in Europe and mainly play online.
     
  10. Tinhorn Gambler

    Tinhorn Gambler Member Lineage to Founders

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    Since the Las Vegas strip has added two new entertainment theaters … the T-Mobile arena and the Park theater, pedestrian and vehicle traffic has increased. Getting around the strip has always been a problem, but it’s getting worse.

    Unfortunately for me I got stuck in a mass of people when the T-Mobile arena and the Monte Carlo showroom released their patrons almost at the same time. The police actually closed the access road between the arena and the Monte Carlo creating a mess. Even though it was only temporary it took almost an hour before things let up.

    Another issue is an increase in crime. In fact, just today there was a robbery at the New York-New-York casino cage.

    Higher pricing and strip fees is also a concern.

    However, in the strips defense it’s a matter of supply and demand.

    Let’s face it … the Las Vegas Strip is one of the most popular tourist destinations in the United States, and the world.

    It offers an experience that has many coming back.
     
  11. Tinhorn Gambler

    Tinhorn Gambler Member Lineage to Founders

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    The Las Vegas Convention and Visitors Authority released some preliminary visitor data on January 9, 2018… as it keeps its pulse on Las Vegas tourism.

    December’s 2017 visitor data didn’t fare very well in a lot of categories.

    However, the report includes all of Las Vegas and not just the strip.

    On the positive side for the hotels … the December’s average room rate went up 1.6% and the convention attendance was up 13.3% .

    I think the bigger issue was that the Las Vegas visitor volume was down 2.3% in December and 1.7% YTD.

    The Las Vegas Convention and Visitors Authority Flash Report.

    ES-Prelim-2017-Year-End.pdf
     

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