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Comps pre-2008 ?

Discussion in 'Comps' started by Hoowaa, Mar 7, 2013.

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  1. Hoowaa

    Hoowaa Tourist

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    I've only been to Vegas 4 times (July 2011-Sept 2012) and have no sense of where comps are in terms of historical averages/norms.

    Thread after thread where MGM, CET and now Stations Casinos offers are being scaled back.

    Two ways of asking a similar question;

    Are comps normalizing to where they were before the real estate bubble of 2008 and the ensuing recession or is it something worse ?

    Is the scaling back of comps justifiable considering record numbers visiting vegas, the record stock market index and gamblers are just feeling entitled based on recent history ?
     
  2. nostresshere

    nostresshere Mr. Anti Debit Card

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    I have read your post a few times. What is the question?

    Anything in 2008, 2009 or even 2010 really has little to do with today. Heck, even quarter to quarter things change a bit.
     
  3. Kickin

    Kickin Flea

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    The main difference I remember is it was a lot more discretionary. Or at least it seemed that way, at least for MGM properties. Even though that wasn't too long ago. However that probably has more to do with the new MLife program than the economy. Its made it easier for people to get nickeled and dimed over small things and to watch their comps which I felt was less of a concern before.

    The casinos list their overall comp expenditures in their financials to some degree. You can go back and see if there's been any material change. My guess is there hasn't been as a % of gaming revenue but for a few years during the recession they were probably a lot more generous and people are feeling it tighten from that period.

    By the way, the record number of visitors can be a very misleading statistic. Average spending per visitor is still down and capacity has increased much more substantially.
     
  4. Drambler

    Drambler High-Roller

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    I don't think comp levels are as tight as they were before the recession. MGM used to laugh at me and they are still giving me free nights and free play. Granted it isn't as much as last year or so but before the downturn they would give me nothing. At least this is my experience.
     
  5. dmr

    dmr Registered Abuser

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    We NEVER got, even at the Platinum level, the freebee rooms we've been getting the past few years at Caesars! Granted this was all on slower weeks, but prior to the Great Recession it was mostly offers of reduced rate at Flamingo and IP and such.

    We have a very decent rate at Flamingo in a few weeks, sans resort fee, but nothing was available cheaply at Caesars, Rio, PH, or even Bally's.

    Quite honestly, I'm not expecting to stay at Caesars this coming December.

    Let's face it. The Great Recession is over and the casino management people don't have to work as hard to get people in the place. All ECON-101 stuff, not even that, high school economics, law of supply and demand!
     
  6. JDinTN

    JDinTN MIA

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    Comps aren't really tighter than they were before 2008 at least from my point of view. If you're a serious high roller things may have tightened up a little because like kickinchicken wrote they keep making things less discretionary. For the majority of us that doesn't change things too much. All of these casinos have been making bigger efforts to bring in lower and mid rolling gamblers.

    It is tightening up a little from 2009-2011 when casinos were just worried about surviving. Now they are getting back on track and need to pay for all that badly timed expansion.

    The bigger change I see is gambling conditions getting worse. That's a big way the casinos are raising prices without making to obvious to a lot of people. It's also why they can keep comps about the same since they are raising the average house edge in a bunch of games.
     
  7. maximus56k

    maximus56k Tourist

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    That is tough to say on the corp offers. I know with my hosts they seem to sling the RFB around better now than 2008-10. My bankroll is much larger now than the rec years so i would say relative to that it is the same. I still feel like the host has been much more giving now as opposed to 4 years ago.
     
  8. Nevyn

    Nevyn VIP Whale

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    Good question. I never had my play tracked before 2008 so its tough for me to compare.

    I just know its been pretty easy the last few years.
     
  9. littlepiggie

    littlepiggie VIP Whale

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    I have always received free rooms when visiting vegas. I believe however the discretionairy comps from just sitting at a table were much more available. I remember visiting Vegas in 2001 and playing 25 dollar BJ for 30 minutes and I asked about getting comps and the guy at Ceasers comped me 2 lobster buffets. I also recall earning plenty of comps that trip at Monte Carlo as I had over 400 dollars comped off my bill with a bank roll of 1500 dollars. I also recall more recently in 2006-2008 were all the awesome slot tournament invites I got from Mandalay Bay and other properties where they had elaborate dinner and drink set ups and big bands. Eventually the food options got watered down to buffet style and then just snacks. Things have changed in my opinion and not for the better.
     
  10. littlepiggie

    littlepiggie VIP Whale

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    I also recall it was so much easier to earn free play or cash with my points. I used to play at Mandalay bay and i would often redeem roughly 100+ dollars in my cash at the end of the trip and this was not counting my comp dollars. This was a really nice perk they had. I also remember some awesome slot tournies at the pool at treasure island. I was by no means a high roller but things were better before.
     
  11. smartone

    smartone VIP Whale

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    I know one thing that was drummed into my head... "Noir is bullshit"!
     
  12. Viva Las Vegas

    Viva Las Vegas Ramblin' Gamblin' Man

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    Statewide percentages - 1990 & 2012 Source: Nevada Gaming Abstract:

    % of Total Revenue - Gambling ; Rooms; Food: 1990 - 61%; 14%; 12% & 2012 - 45%; 21%; 15%

    % of Gambling Revenue - Pit Revenue: 1990 - 38% & 2012 - 30%
    % of Gambling Revenue - Coin Operated Device Revenue: 1990 - 58% & 2012 - 66%

    Occupancy - Room Sales: 1990 - 84% & 2012 - 80%
    Occupancy - Complementary Rooms: 1990 - 16% & 2012 - 20%

    Beverage - Sales: 1990 - 47% & 2012 - 60%
    Beverage - Complementary: 1990 - 53% & 2012 - 40%

    Total Casino Employees: 1990 - 52,307; & 2012 - 43,454
    Total Room Employees: 1990 - 19,467 & 2012 - 29,735

    Room Occupancy Rates: 1990 - 88% & 2012 - 83%

    Average Daily Pit Revenue Per Room Per Day (Not adjusted for inflation): 1990 - $86 & 2012 - $71

    Average Daily Machine Revenue Per Room Per Day (Not adjusted for inflation): 1990 - $131 & 2012 - $156

    Las Vegas, NV Casinos Owned by:
    The Promus Companies Inc.: Harrah's Las Vegas
    MGM Grand, Inc.: Desert Inn Hotel & Casino; Marina Hotel & Casino


    Company with most Las Vegas Casino Hotels in 1990:
    Sahara Resorts: Hacienda Hotel & Casino; Sahara Las Vegas Hotel & Casino; Pioneer Hotel & Gambling Hall
     
  13. sco5123

    sco5123 VIP Whale

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    enjoying this topic.
     
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