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Comps still on a decline. Are you seeing the same?

Discussion in 'Comps' started by LV_Bound, Oct 8, 2016.

  1. LV_Bound

    LV_Bound VIP Whale

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    Used to get limo from the airport, room comped, no Resort Fee and all room charges removed ($200-$400 worth of charges).

    About a year or so ago we stopped doing the limo as we were told it was cutting into the comps.
    Next, Resort Fees had to be "worked" off.

    The latest trip we were told that only the Resort Fee would get comped and 0 room charges comped.
    I directly ask my host if this was due to a decline of comps that we all hear about and his reply was "No, I just need more play from you."

    Oh, ok. So, CET releases their statements for the previous month after the 7th of the current month.
    Well come to find out this past trip had the highest Points out of my past 3 trips.
    In fact it was about 150 higher than the March trip in which all room charges were comped.
    Basically the play was higher than previous trip (in March) yet less was comped (about $300 less) in just 6 months.

    This is not a good sign. Is this similar to what you are seeing?
     
  2. DaiLun

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

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    Referring back to my latest "battle" with CET, they have increased the comp room rates and MAY have changed the way that they calculate Theo.

    I thought I was well within my comp limit, but was told that I was marked as "overcomped". Why?

    1)They raised the comp room rates for Augustus Tower (strip view) from $120 to $200
    2)They calculated Theo at TC/3 where previously it was TC/2

    I am seriously thinking about changing home properties within CET.
     
    Last edited: Oct 8, 2016
    New Orleans 7* retreat. Food, food, and more food . . . .
    Tentatively Tahoe or LV . . . .
  3. LV_Bound

    LV_Bound VIP Whale

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    This means getting the same size room at a different CET property would free up comps for the end of the trip???

    What if the host is making arrangements using an Offer Code for free nights?
    Shouldn't that negate the comp room rate?
     
  4. DaiLun

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

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    With regards to the first question, yes. Even a less expensive room at the same property lowers the comp "cost". The difference between a strip view room and a non-strip room view in the Augustus Tower is somewhere between $50 and $60 a night.

    There is ALWAYS a comp room rate. I am 7* and always comped for the room, but that rate fluctuates depending on day of the week and room type. Also, if you are "upgraded" at the front desk, the higher rate applies. This was all verified by my host. He said that the front desk people don't know how that affects comps.

    Of course, the comp room rate is only really relevant if you want backend comps. If all you want is a place to sleep and pay out of pocket for meals, etc. then it is immaterial.
     
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  5. jgates8

    jgates8 VIP Whale

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    The value of the room at a lesser property should be a lower amount. A Go room at Flamingo should equate out to a lower comp value than a $200 Augustus room at Caesars. (No idea of how much Go ranks at).

    Consequently if you used 5 nights @ Augustus you already need to 'work off' a $1000 room, where at a Go room you may only need to work off $600 to start with. My understanding was that if it is free, it's taken into consideration (hopefully someone will correct that if it is wrong). I am NOT going to ask for an upgrade from my Go to a mini-suite as I hope then it will leave more room at the back-end to comp off food. (My RCs are LOW right now).
     
  6. killswamper23

    killswamper23 Tourist

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    I have no idea how this stuff is calculated.
    I used to run a hundred or two hundred bucks thru a video poker machine at harrash in ac then get comped rooms availble in Vegas 5 nights a week sunday-thurs.
    I had years i used 40-50 nights. at some point they stopped giving me rooms.

    i checked my total rewards account a month or two ago and after giving them no action in at least two years i have lots of comp nights available
     
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  7. LandryBalla9

    LandryBalla9 High-Roller

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    While there's a methodology to their madness, I also feel like there's a lot of arbitrariness. I'm a $50 blackjack player at best and I can pretty much stay at any CET property, with the exception of Caesars and Cromwell, anytime I want outside of a major holiday. Even if I don't have an offer or whatever I'll just call and based on my play and history they'll always find a way to work something out it seems. Mgm on the other hand seems to be much stingier with their rooms however, at least for lower level players like me.
     
  8. Nittany1

    Nittany1 VIP Whale

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    I've been out of CET for a few years.
    What does the TC/3 vs.Tc/2 mean?
    Did they change the formula that calculates Theo or are they paying a lower % back in comps?
     
  9. DaiLun

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

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    TC=Tier Credits

    My host told me that Theo was calculated at TC/2. On my most recent trip, Theo was calculated at TC/3.
     
    New Orleans 7* retreat. Food, food, and more food . . . .
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  10. dmr

    dmr Registered Abuser

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    {BrokenRecord} As long as it remains a sellers market in LV, the conditions will become worse and worse for the player. This will continue until the next market shakeup, most likely at the next economic downturn. {/BrokenRecord}
     
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  11. tringlomane

    tringlomane STP Addicted Beer Snob

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    Does this mean they actually loosened their machines, or are they deflating their theo numbers to lie about how much players are losing plus making it look like you're getting your fair share of comps relative to the Theo number.
     
  12. Grid

    Grid VIP Whale

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    I'll agree with this. Its not just CET. My level of play with MGM has also increased while my comps have shrunk. Not to the point of CET where I saw my comps cut in half. But still not on par with where they where/should be.

    Why? They don't have to entice me since a bigger player will take my spot in line for the same offer. They have shoppers so they don't need to run sales LOL.

    The only place that has yet to cut back my comps in LV is Treasure Island. They are also one of the only independents on the strip.
     
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  13. Nittany1

    Nittany1 VIP Whale

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    They are definitely not loosening their machines.
    They are stating your theoretical loss is lower than it actually is based on calculations that have been used for a long time.
    Cosmo has a reputation of stating theo lower than other casinos for the same play.
    Looks like CET is now on the same plan.
    MGM will likely employ the same strategy soon as part of their BS PGP plan.
    Add it to the list of(yes broken record)resort fees,6:5 BJ,tighter slots,bad vp pay schedules,etc.
    But we all keep showing up.
    Actually I can't wait to book another flight right now.
     
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  14. tex55

    tex55 Low-Roller

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    It is all supply and demand now. Total revenues are up, room occupancy is up, no need to be liberal with comps right now. In addition, two corporations control most of the Strip, so there is no need to compete for your action.
     
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  15. Chuck2009x

    Chuck2009x VIP Whale

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    Do you look at availability calendars and TR offers enough to have made your own determination if this is true or not?

    My problem with buying this change outright is that it's so huge.

    1 TC is $5 coin in. So at TC/2, that's $0.50 in theo, or 10%. At TC/3, it's $0.33 in theo, or 6.6%.

    Say you're playing a vanilla low-vol $5 slot. You can make an argument that 6.6% is probably closer to the real theo than 10%.

    But, it's still a 33% drop in theo for slot players. Players should see that drastically affect their comp availability - across every attribute - properties, room types, and dates. I haven't really picked up on that here as much as I'd expect to.
     
  16. DaiLun

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

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    Since I am a 100% slot player, it's easy. I know how many TCs I put in, and my host provides my Theo.

    Here's part of the conversation with my host:

    Me:

    "I racked up about 5200 TC over the three days.
    According to the formula that I had been using.
    5200/2 = 2600 theo
    2600 * 30% = $780 comp value
    Less $360 for the room = $420
    Less about $120 in RC comps first, should have covered $500 in meal comps.
    Where did I miscalculate? That is what I had planned on.

    My host:
    Your total theo for the trip was 1736 and comp rates in the augustus tower are now $196.01 per night ($588.03 total)"

    Note that 5200/3 = $1733.
    Also, in January I had three rooms at the Augustus tower, strip view and $120/night was the comp rate at the time.

    I am more concerned about my backend comp "ability" than the offers. If the offers aren't good, I don't go.

    I go to LV and Reno about 16 times a year. Reno is pretty easy since they typically give me a food voucher to cover meals.

    LV is the "tougher" one, and that is why I am concerned with the comp room rate.

    I was also advised that Reno and LV compute Theo differently
     
    New Orleans 7* retreat. Food, food, and more food . . . .
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  17. Chuck2009x

    Chuck2009x VIP Whale

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    Yeah, I can't question what he told you, and no doubt you're tuned into this stuff.

    I think we had a go-round about this when you originally reported it. I just can't wrap my head around them cutting theo by 33% AND raising room rates at the same time. If the rate hike is limited to Augustus rooms, maybe we wouldn't hear too much, but if all of this was across the board, there's plenty of CET people here and I'd expect to be seeing a lot of stuff like "I used to be able to get an X room any day of the week and now I can only get Y rooms on weekdays."
     
  18. DaiLun

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

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    I think that it's ONLY the higher end rooms (Caesars, and maybe Cromwell), and as I had previously stated, it only applies if you want backend comps. I am having dinner with the Asian Marketing hosts from Las Vegas tomorrow night, and I will ask them if the comp room rates have gone up at their hotels.
     
    New Orleans 7* retreat. Food, food, and more food . . . .
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  19. Nittany1

    Nittany1 VIP Whale

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    Will be real interesting to hear what they have to say.
    CET is pretty loose and easy with room comps so backend comps is what you are discussing.
    Are these CET Asian marketing or independents?
    If it is a new theo calculation it will impact everybody.
    Look forward to your post.
     
  20. DaiLun

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

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    CET Asian Marketing for Reno/Tahoe/Las Vegas.
     
    New Orleans 7* retreat. Food, food, and more food . . . .
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