NORTH END GOES SOUTH: Riviera posts first-quarter loss

The stickiness of Sticker Shock?

>"Here are some per night averages:
North Strip:
Sahara $69
Circus Circus $80
Stratosphere $112
Riviera $144
Center/South Strip:
Luxor $125
Harrah's $125
Imperial Palace $130
Tropicana $117
Bally's $144
Planet Hollywood $169 ..."


These are the prices that appear on the car window ... but just how valid are they?
Car models compete on image and I imagine hotels in Vegas compete on their Tier Image as well as their Geography, not just on sticker price for the room.

We have these quoted rates that are adjustable by that ever-hated Resort Fee, by actual comps, by hoped-for comps, by three-day sales, by Internet Specials, by Twitter Specials and by Mobile Phone Specials. Heck, I don't know what a sticker price for a hotel room means anymore and that doesn't even involve all these aggregator deals wherein airfare, rooms and rental cars are sold as a package. Nor are we even considering hotel packages such as those that offer golfing tie-ins. It is beyond my math skills to factor in reservations-lag, but most people do make reservations well in advance so there is a difference between "spot" prices and "futures" prices.

>I think it is worth it to pay the extra cost for the better location and amenities.
That's fine, but some couples have kids and will be gambling in shifts so they don't want to trek away from the oasis of their room. Or some people just know they are largely going to gamble where they stay, be it by logistical obligations or sheer habit. Some go casino hoping as a matter of routine and would never consider staying put. Some enjoy pubic transit and others would not hop onto a bus even to escape gunfire. And some who might regularly ride buses won't be inclined to do it while on vacation! So I'm not certain that geography's effect on travel time and travel cost is precisely known.

Upthread there was a discussion of buffet prices and buffet geography. Again, we have a mix of customers. Some are content with one hotel's buffet and some want to wander around and graze all over town. Some will in fact stay put but somehow place value on their ability to wander even if they acknowledge to themselves that they probably won't use it. Some consider the buffet critical some consider it simply a part of their other expenses such as Teen Age Arcade or Movie Theater charges. And let us not forget that buffets compete on reputation which tends to lag well behind the reality of cost-cutting measures. Look how the Wynn has been able to maintain its buffet pricing but has apparently been suffering very short lines and considerable adverse commentary.

Closed?
I understand there is a firm that specializes in operating "closed" casinos in such a manner that the license is kept active. I would agree that everyone knows a casino is closed even if only the politicians and lawyers think it is open.

About the definition of "closed," if there is any dispute, a casino will be deemed closed if we walk up to the front door, and it is closed and locked, or the door no longer exists (as might happen if the property goes immediatly to implosion, like the Dunes). The value of the free dinner shall not exceed $50.

The sources of the prices I listed earlier was Travelocity. Agreed, the honest thing to do would be to include resort fees, and any other mandatory fee, but I don't wish to change to topic.

Riviera should bring back GLOW! (Gorgeous Ladies of Wrestling) :D

I guess the reason I am hesitant to make a bet, is that it is so seldom that a casino actually closes down for non performance. Key Largo certainly closed down, and Binion's closed for a few months. A handful of very small casinos close down and are replaced with stores or condominiums. Casinos are closed and demolished but only because a newer and bigger casino is announced for the property. Now in a few cases we have yet to see the casino, and people are speculating as to when another one will appear (New Frontier, Stardust, Castaways, etc.).

In the case of the original strip casino (El Rancho Vegas) it burned down 50 years ago. But the site is still cleared, and they keep talking about building a new casino on the site. MGM announced it was going to build a casino there 3 years partnered with the owners of the Atlantis casino hotel in the Bahamas.

Most normal business close not long after they cease to make money. But there seems to be no reasonable way to predict when a casino will close.

Okay, no bet. Any other takers?

Quote: Wizard

Okay, no bet. Any other takers?

I hope you didn't write me off because I was offline for a few hours.

There are so many facets to this, including a definition of 'closed'.

Quote: Wizard

The value of the free dinner shall not exceed $50.

Then again, for a mere $50, I'd be just as happy to buy dinner for the opportunity of spending dinner with the Wiz, without concern for the resolution of the bet. If the bet ever resolves, winner gets bragging rights.

Although I'm still juggling flight options, I should be in Vegas from 9/19 to 9/25. The convention is 9/21 to 9/23.

Whaddaya think? Wanna have dinner one night?

Sorry, I read pacomartin's comment, but incorrectly attributed it to you in my head. I should be around those dates and would be happy to have dinner with the #1 poster. Shall we bet honor on the Riviera/Circus Circus thing as well?

Dinner with the Wiz, and honor on the line.

It almost makes me wanna come to Vegas sooner than September.


See ya then.

I will take the bet that none of them will close within the next year. Will anyone give me odds on that?

Man, oh, man. I am glad nobody took me up on that bet. The Sahara closed on May 16 of last year. I would have lost the bet by three days!