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Changes to the CET comp program and room comp rates

Discussion in 'Comps' started by DaiLun, Aug 4, 2016.

  1. DaiLun

    DaiLun R.C., L.C., and A.A.N.G.

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    I recently had a trip with a very disturbing outcome.

    Based of the formula that I had been using for the past year, I thought that everything was "covered" with ease.

    My host told me that he would cover my comps, but I would show this trip as "overcomped". I asked him to explain, and I explained how I thought I was well within the limits.

    So, as it turns out, they have (apparently) changed the way the calculate Theo for slot players. I was told by my host at Reno that for slot players it was TC/2. This trip at LV, it was calculated as TC/3. I have asked my LV host to verify that and I will also ask my Reno host.

    In addition, the room rates at Augustus Tower at Caesars Palace went from $120 a night to almost $200 a night.

    So, 1000TC days are not going to be enough to "make" my room at Augustus Tower anymore.

    I may have to start going to Reno/Tahoe again and save Caesars for "special" occasions.

    Also, 2017 may be my last year as CET 7*, because it just won't be "worth it".
     
    New Orleans 7* retreat. Food, food, and more food . . . .
    Tentatively Tahoe or LV . . . .
    • Informative Informative x 1
  2. FABismonte

    FABismonte Low-Roller

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    Hi DaiLun:

    I am afraid I do not understand what "TC/2" or "TC/3" means. Would you please explain?

    FAB
     
  3. Nevyn

    Nevyn VIP Whale

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    tc=tier credit

    So TC/3 on a 1000 tier credit day would be 333 in theo.

    But isn't 7* a guaranteed comp room anyway?
     
  4. DaiLun

    DaiLun R.C., L.C., and A.A.N.G.

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    . . . and 333 in Theo x 30% is $100 in comps.
     
    New Orleans 7* retreat. Food, food, and more food . . . .
    Tentatively Tahoe or LV . . . .
  5. meyers67

    meyers67 High-Roller

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    Just book your room in Vegas directly with the property. It's comped because you are 7 stars. That way your host only deals with meals and entertainment.
     
  6. MoneyToBurn

    MoneyToBurn Low-Roller

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    I wonder if it has anything to do with the type of slots you play? Going by some American Casino Guide numbers from July2014-July2015, if you're playing dollars on the strip, TC/3 is pretty close to the mark ($5000 coin in at 6.21% hold). Conversely, if you play pennies, TC/2 isn't quite enough. Reno would be even worse generating theo, as the hold is much less.

    I'm assuming you don't play pennies getting to 7*, so maybe after a year of crunching numbers on you, they've found your theo is actually in the neighbourhood of TC/3.
     
  7. DaiLun

    DaiLun R.C., L.C., and A.A.N.G.

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    I think that it's region specific, although my LV host did agree with me earlier that Theo was TC/2. The 17% reduction is a little much to handle, especially when the room went up by 66%.

    I may find another hobby.
     
    New Orleans 7* retreat. Food, food, and more food . . . .
    Tentatively Tahoe or LV . . . .
  8. zignerlv

    zignerlv Low-Roller

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    Any idea what VP is? TC/10?
     
  9. Chuck2009x

    Chuck2009x VIP Whale

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    TC / 2 equates to assigning a 10% theo on slots.

    TC / 3 equates to assigning a 6.66% theo on slots. On the Strip, for anything lower than $1 denom slots, that's a ripoff. For pennies, it's ridiculous.

    It's not a 17% reduction, it's a 33% reduction.

    Please let us know if you find out whether this applies in LV.
     
    • Informative Informative x 2
  10. DaiLun

    DaiLun R.C., L.C., and A.A.N.G.

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    This was in LV. I'm guessing this is the "new" way of doing it.

    I think I'm gonna ask to change my room in October from Augustus Tower to Forum Tower.

    So, I guess that check in I will park at Flamingo 7* valet and after that, at the Forum valet.
     
    New Orleans 7* retreat. Food, food, and more food . . . .
    Tentatively Tahoe or LV . . . .
  11. Chuck2009x

    Chuck2009x VIP Whale

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    Good thing I already booked two stays for January I guess.

    If this is accurate, it's gonna be Hello Boyd for the degen gambling portions of my trips.
     
  12. TIMSPEED

    TIMSPEED !địt mẹ!

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    I didn't read the entire thread. but I can tell you, your host has and is bold-face lying to you..there's no way they just "lump" all slot players at TC/2 or even TC/3 for theo..there's a much more complicated formula, that each machine generates a certain theo.
    for instance, lately in tahoe I found some 99.17% video poker that earns 3% theo and $10 per TC...
    truthfully, I don't think 1000TC, even for a slot player is all thwt much (I'd bet they give you about a 6% theo, so that's only $600 in theo)
    if you consider they charge your backend like $50-$100 per night for the room...that doesn't leave much wiggle room.
     
    Palace Tower Suite!
  13. Multifarious5

    Multifarious5 High-Roller

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    I have been toying with playing a bit at CET JUST in case my MLIFE comps ever dry up, as Ive been spoiled and don't want to have to pay for rooms (on the same bankroll I've always gotten free rooms with. If I'm playing less, different story).

    I've always heard CET is more generous than mlife, so it seemed like a great backup.

    I hope others chime in on future trips, as if they're tightening up, there's no point in my wasting bankroll on a backup that no longer is really worth it.

    If mlife dried up for us, and CET became stingy, I'd try downtown!

    Thanks for the insight DaiLun, and for the great follow up Chuck
     
    Sooooo far away still...
    Cosmo, always our favorite part of our trip!
  14. DaiLun

    DaiLun R.C., L.C., and A.A.N.G.

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    I'm seriously considering going back Downtown. Derek Stevens and the D always (and continues) to do well by me, and Derek's plans for downtown sound ambitious, but he's always pulled through and done what he said he was gonna do.

    I have a full year or two to think about it.
     
    New Orleans 7* retreat. Food, food, and more food . . . .
    Tentatively Tahoe or LV . . . .
  15. Chuck2009x

    Chuck2009x VIP Whale

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    I will say that on my recent trip at the beginning of July, my coin in average over 7 nights dropped from ~4,000 (on the previous trip) to about 3,400 and I haven't seen a drop in room availability yet. I can still get Palace Tower comped.

    Part of that may be that Caesars gives you 5 nights comped upfront max, so if you divide the coin in by 5 instead of 7, I didn't fall out of the "Palace bracket."
     
  16. Funkhouser

    Funkhouser In Charge of the Big Door

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    I think CET is tightening the reins everywhere. I have noticed that comp reduction seems to be prevalent everywhere. While my free room offers have been consistently coming, room types and availability with certain offers has definitely reduced. I looked at my Theo loss year to date and it does not appear to be off in comparison to last year. Also IMHO I feel like the hold has tightened on the machines based on number of winning visits I have experienced, this is all subjective and I realize you will have losing periods but in talking with fellow gamblers, some of them feel the same way.

    My personal opinion is CET is having to watch cash flow very tightly and they are comping in ways to encourage players to gamble in a method that keeps cash flow high, while reducing risk. These TR credit promotions seem to re-enforce that. Which if you think about it costs them very little if there is no guaranteed upfront comp for certain point levels and they can always reduce the general offering. My local casino has instituted bounce back cash while reducing the monthly mailer amount. The bounce back formula is more generous then the month upfront offering now.

    Caesars is also spending major dollars on renovations of rooms and property, so that could be influencing comp spend at that property in the short term.
     
  17. zignerlv

    zignerlv Low-Roller

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    This is really nothing new. Casinos have been tightening on comps and game odds year after year after year, and will continue to do so. In 5 years people will be looking back at the "new" comp rates and say that they miss those good old 2016 comp rates.
     
  18. Grid

    Grid VIP Whale

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    Exactly this! 15 years ago I would go to Vegas and stay put. Meaning i would get decent food and free play from the casino of my choice and thats where I would do most of my damage. Then Vegas became even more popular 10 years ago, before the housing bust, and I started splitting my stays between 2 places to maximize my up front offers.

    So instead of one place giving me $250 in free play to stay with them for 4 nights. I was staying 2 nights for $125 and another 2 night at a competitor for another $125 in free play.

    Now I'm usually staying at 3 places on a trip to get the same stuff I once got for being loyal at one joint. If I can at least get my flights covered in the form of free play I'm happy. I just hate having to move so much to do so. So I'm still pulling ion the same total comps I just have to bust my butt to find them!
     
  19. grosx2

    grosx2 VIP Whale

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    I would think the comp formula would be the same for VP as for slots, since it's already more coin in required for VP to earn 1 TC.
     
  20. grosx2

    grosx2 VIP Whale

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    Are Derek Stevens' properties the same as CET, where one could stay at Golden Gate, but go to Andiamo's for dinner and charge to their room?