RUMOR: CET removes Daily 4 Drink Redemptions for Some Diamond+ Players

One must keep in mind the STEEP discount big corporations are purchasing booze at directly. If we are only speaking cost of goods on the drink it’s $1.00-$3.00. The $4 - $6 range is factoring in labor , insurance , utilities ect

people using the diamond tickets aren’t getting high end scotch as it’s over the $25 threshold. I would estimate 90% are getting well drinks, beer or a cheap glass of wine.

CPA documents for many large establishments and can share plenty of raw numbers if curious.

CET is free to change terms at any time but I think it’s a terrible look. At least let the year expire and create new rules moving forward for these low EV accounts.

 

Yet they’re selling $25 drinks and having shitty quarters, if not years.

Far be it from me to hemorrhage empathy for Tom Reeg but when people say “the total cost on four “$25 drinks” is $7,” there’s a lack of understanding of basic variable/fixed costs (and I am definitely not the financial-accounting genius in this room— or any room).

 

The post said the cost of a $25 dollar drink is $17-$20 in cost PER drink.

No one said FOUR $25 dollar drinks cost is $7.00. That just silly. Maybe our conversation got lost in translation somewhere. All good

I think it just highlights how mis managed CET is with there capital. Others like Wynn, Venetian, Cosmo (till now) seemed to do well financially while CET struggles

 

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Yeah, but this is assuming everything is being put in place just to service free drink redemptions. This is just a well-earned perk that the company put in for their better players, after removing the better perk of Laurel Lounges. In other words, all those bars and restaurants would be where they are, with or without four free drinks being rung up and a card being swiped and a couple touches of the register screen several times a day. If you look at it in that practical and realistic way, then yeah, the only cost is really the drink itself. Because they are not paying any extra for anything for giving something for $20 or for free. And it's really not free, because players with 25K or more tier points, have given the house plenty in expected losses before getting said drinks.

 

In the case of CET don’t forget the interest on the $25 billion of debt.

 

Caesars giveth and taketh away

 

This is a yet another reason why I have no regard for CET. No feelings of loyalty. I play enough only to get Diamond Plus, mostly because there’s a local about an hour from home which makes for convenient overnight staycations.

Caesars, you’ve made your bed, now lie in it.

 

Most all other costs are fixed. So the actual cost of the benefit is small. Unless you make the assumption that the customer would actually buy a drink.

 

It is. Many people never realize it.
For the food/drink business, sometimes the cost of the ingredients is just a tiny part of the full cost of final product.
I have many friends own restaurants/buffets. Many numbers are jaw-dropping to outsiders.

 

AM I NOT MERCIFUL?!?! (says Tom Reeg):

 

Like A Caesar!

 

Render unto God that which is God’s; render unto Caesar a quarter pounder extra value meal:

 

If casinos don't comp drinks at all, many people will buy drinks.
It's happening in most of the casinos outside USA.

 

I wonder how many will see value in Vegas and fly here if they are buying drinks both in Vegas and at their local casinos? Comp drinks on the floor are not the same as a $25 craft cocktail.

 

The main reason for that is a lot of states’ laws forbid complimentary drinks at gaming establishments.

If a single casino or casino conglomerate in Nevada were to make the decision to stop comping drinks, everyone would just play at competing properties.

 

He's taking his 4 drinks fo' sho'....

 

Without complimentary drinks I’m not sure the value of bartop vp would remain as when I played. Most of the time the bartenders were great unless just slammed with business. But the drinks were my second rating after paytables…..

 

It’s happening at many/most casinos outside of NV (with LA, MS, NJ and a few other states being the exceptions).