I just want to know everybody's thoughts on Resort World, LV (Chinese-themed luxury casino/hotel) opening sometime in 2018. I am cringing to the idea of another hotel opening when I feel like the market has not bounced. I think this will be good for the consumers as it will create more competition, but for Las Vegas don't you think adding another hotel will make Las Vegas more unstable? Sure it will bring new construction jobs until it is built. It will also create jobs at the resorts temporarily, but after the dust settles, I feel like it won't survive. I think they are aiming to bring in rich gamblers from Asia, but if I were them I'd rather stay at a non-asian themed hotel when vacationing. If you're from Italy, do you really feel the need to stay at the Venetian when you're visiting LV? I think the revenue on the strip is pretty finite for now, and having Resort World open will steal some businesses from the same piece of pie. It may mean lots of casinos becoming more desperate and throwing better offers for the customers, or casinos tightening up their offers to weather the storm. I'd love some views/opinions about this subject.
I think competition going the other way (from 6:5 BJ etc) is a good thing, for gamblers in the short run and Vegas in the long run. The big issue IMO is all the local gaming keeping people home, playing smaller amounts and not saving up for that annual LV trip any more. Vegas has diversified their offerings with the gourmet restaurants, bigger shows, and superclubs, but gotten worse on the gaming, making losers out of their regulars at higher percentages than before (both more of them, and more quickly with worse games).
They need to work together to offer the best odds on everything, offer new games that are decent, advertise the hell out of what they're doing, and let the traffic for gaming build back up. Go back to table minimums that will draw in red-chippers; Wynn/Venetian/upper MGM properties have gotten too expensive for their own good. Penny slots are waaay too low on RTP. Set 'em good and brag about 'em.
It's fine for them to market to different segments of the gaming public, whether regional, financial, age-related, whatever demographic defines them, but at base the product has to have some value, and most of them have gotten away from offering that, and more into money traps and bad bets to make their short-sighted nut.
Hotel rooms don't do them much good empty; make them available at a casino rate with carded play to lower-tier players than they do now. Do a better job of area transport by underwriting the Deuce , making it free to anybody who has a check-in chit, and run it 24/7 on 15 minute intervals. Put in Strip transfer points to the monorail and other major branches where casinos are just off-Strip, like the Rio-Palms-GC corners. Get the crowd moving to and from their attractions.
No reason they can't all have a 2-tier system for those who play and those who don't on a daily basis. Charge all you want for Valet non-gamers, but it's a super-cheap perk to give your players.
You can't do Disneyworld everywhere. But, these days, you can do Vegas within a day's drive anywhere in the Continental US. They need to make it special again, and gambling is the heart of that.
So. Not sure if that's completely on-topic, but it goes to the heart of making Vegas viable again (if it's not now). And I'm not completely sure I accept the premise of the contention, that they're not making money off gaming. Perhaps, if they don't think they're making enough, they're overpromising their stockholders or beancounters. Anyway, everybody should profit by well-planned competition and infrastructure to support it.
Sell the dream that you can and will win in Vegas and everything else is 3rd rate.
Advertizing and having Better odds would be a start.
Many other states actually give out significantly better free play.
Some states give out a large percentage.
They have a similar wealth to Sands and eclipse Wynn by quite a margin. They also have a fairly diverse portfolio so can take the rough with the smooth without suffering too much. They are very dominant in other areas of the globe and the brand has a very good image compared to Sands etc..
I think that end of the strip will be more of a buzz when this is finally complete.