If you ran a Vegas Casino, what would you change and why

Hi all,

Here's a fun little topic I thought of today: Assuming you were on the board of a Vegas casino, what would you change and why.

Here are the rules to responses, you're on the board so anything like 3:2 BJ needs to be validated by how it'll bring profits. As well, the initial cost must not have a 2+ year ROI. In other words, you can't suggest rebuilding the RIO as that'll take 10+ years to recoup costs.

That said, if I worked at VP, I'd do two things: create and SEO/AD strategy to steal people away from the Wynn / Encore and offer crossover incentives to have them switch their play. I'd lower the slot hold on weekdays, to liven up the casino and get more people in. And, I would raise the threshold to getting Gold Status to 40k points -- high enough to make people try for it, but not too high. I'd then offer more perks like a Plat/Gold member lounge with food and snacks to make it more of a worthwhile milestone.

 

get rid of resort fees and just raise the room price slightly.

 

That actually works in more ways than one because a lot of casinos comp resort fees when you've reached a certain status. If room prices were higher accordingly, you would retain more cash. I always thought that room prices in Vegas were pretty reasonable to begin with, especially given how much everything else is there.

 

No, you'd have to pay a massive amount of more commission to 3rd parties.

As for the topic itself, I'd get rid of the resort fees and add $50-100 to regular room rate. For whatever reason there seems to be a load of suckers who can't do basic math and would happily pay $150 for a room without extra fees instead of $70 room rate + $30 RF + $10 parking ($110).

 

Would make it a grind joint for sure. Cheap beer and rooms and low table limits. sort of like a casino royale but with new carpet. No fancy place, enough of those everywhere. My target audience is the people who want some cheap beer and fun. Also no one would get head of the line. Oh and you could tell people off if they whine and toss them out the old fashioned way.

 

Get rid of the parking fees for the gamblers with a minimum amount of play, regardless of tier. No resort fees, or minimal resort fees for things that people actually use. (Why am I paying a resort fee to make a local call????) If you raise the room rates $25, it is sort of like southwest airlines... show me the complete cost. Make sure there is a sleep timer that works on the tv in the room. (Huge peeve of mine in all hotels.)

 

I would personally inspect each and every set of guest room drapes to make sure they close completely.
(And that they match the carpet!)

RICHARD

 

ALL TABLES $1,000 GO FISH

 

I'd have a kick ass coffee shop with actual graveyard specials. I would round out the restaurant lineup with a great steakhouse, buffet, a sports bar and grill, Italian, Asian and a BBQ joint . No chains. I would do retail and throw in a food court in that area. I get why the crappy rules and tight slots earn casinos fast cash but I would make sure there were playable versions of all games. I'm happy to let folks grind it out because the house will still win. I would also have a free lounge act if I thought I could get a good return on alcohol being sold. I would not only ditch fees but I would raise rates and get away with it because I would include wi-fi in the room rate. I would love to do a fridge in all rooms but I don't know how reasonable that would be. There has to be a least a way to do small beverage coolers at least. Since women of a certain age are the best demo for Vegas and have been for years, I would take that into account from the making sure the bathrooms have makeup mirrors and double vanities to ditching a few of the ESPNs from the tv lineup in favor of more women centric channels to throwing a few hunky male servers into the mix.

 

I would think in terms of grooming the client base and think of the long term as opposed to the current reporting period.

 

I would make it fun, affordable, sexy, and offer a good gamble. people will come, and in the long run they will lose plenty of money if they are having fun. I may require certain employees to work in the nude, just as an experiment, to see if revenues spike based on volume.

 

I hope I'm invited back for a second interview!

RICHARD

 

I have to break apart your message, but all in all I love your post!
- Late night coffee is so underrated and such an opportunity
- I think the venues that provide the broadest array of dining win in the long run (hence why VP has seen serious success)
- The no chains might be a missed opportunity as people find comfort in the known, it's why TGI Fridays in Times Square is one of the most profitable restaurants
- Yes to grinding it out -- AND, if they think they can win it back, they will gamble more to try to win it. I do think there's an equilibrium with respect to house holds
- pH stops comping drinks after a certain time and people still happily pay -- just make sure the bartenders communicate it and they provide happy service. I had a shit bartender last time
- Raise rates and keep fees? That's pretty nuts...now will your prices stay competitive?
- Fridge in all rooms will be compensated by the higher rate within a week -- feel like it'll even out and provide rationale for the higher rates
- Funny that you say that: it's a sort of a chicken or egg argument.. Do you attract the females to bring the guys? Or do you attract the guys who will spend more because of the females who are getting paid
- A "ladies night" could be the happy medium -- Harrahs, pH and others go with the male first approach which ends up attracting ladies of the night...I feel like it's not easy to be a girl in Vegas without feeling harassed

 

They need to conduct a loyalty study on the Vegas properties to understand the residual effects of their decisions. I feel like we're going through a second resurgence downtown by virtue of the Vegas strip gouging.

 

or adopt the Benny Binion model.

 

Simple... I'd recreate the mid-90s version of the Stardust...and everything that goes along with that.
"nostalgia"...
(language warning on video, by the way)

 

I'd love to say no resort fees, but kolmenskai nailed it, then 3rd parties would take a cut on everything.

I'd love to say no parking fees, but then you get people parking from other resorts.

My big thing if I owned a casino? Do away with the stupid 11:00 am checkout time. Seriously? Noon is standard almost everywhere, except in the city known for partying and late nights?

Make noon standard, with possible later check out for late arrivers. They have house keeping around the clock. If there was a way to easily give late arrivers later checkout, I'd do it. Why does someone who checks in at 11:00 pm have the same checkout time as someone who checks in at 3:00 pm? A small rolling check out window of 11:00 am to 2:00pm. If someone is a night owl like me, I'd definitely delay check in an hour or two (or 3) if it bought me an hour or two on check out. Now, everyone checks in as soon as possible, but a rolling window could work, and the first hotel that marketed this aggresively could win a lot of new guests.

I'd maybe even offer something small if someone checked out before 10:00 am, so that we could get the early risers out early.

Or I'd charge resort fees, but give wi-if plus an ala cart option...gym OR late check out, OR early check-in OR free parking OR vip line pass at the buffet...something tailored to each individual guests' preferences.

I'd also consider giving some perk to anyone that posts a NEW 5 out of 5 star rating on trip advisor or other major social media travel hub---you could even specify which sites. 4/5 nada...5 stars? $20 food credit or free play, something that incentivizes free positive marketing!

I'd also give all VMBERS free stays. (Ok, just sucking up on the last, but the rest I meant...)

 

a rolling checkout time I like. I say if you arrive / check in late, you should be able to have the room for at least 20 hours.

 

If I were to open a casino (Hey, should I try a gofundme?) I would model it on the Stardust.

 

1 - An all inclusive resort in Vegas. Why do I need to go to the Caribbean to become a degenerate alcoholic (no offense to anyone here if you are ) for a week when I could do it in Vegas AND go shopping, gamble, etc... Jack the room rates; make it an additional fee like the resort fee; use bracelets, whatever - just do it.

If they can do it in Mexico / Jamaica, etc... why not here? Someone figured out how to make it profitable, regardless of the crap wages those employees get paid.

You'd think people would be quicker to part with their money in the casino if they were happily drunk.

2 - Swim up bar by the pool. I think a few have them but MB doesn't.

3 - I want an adult playground. For those of us that don't gamble, I want a resort with water slides, obstacle courses, etc... MB comes close (which is why we keep going back to it) with the lazy river / wave pool - I want everything else it's missing.

4 - NO GD KIDS. It's a casino! Go to Disney if you want to bring kids. Kids meaning anything < 18. Sure as hell no crying babies in the lobby at the least.