Casino Credit Questions

I am going to Las Vegas next month and had a couple of questions about casino credit:

1. According to Max Rubin's book Comp City, casino credit is actually check-cashing privileges. The casino does not do an actual credit check, but rather just cares how much money you have in your checking account and how long you have had said money. Is this information correct?

2. If I open up a line of credit at the Mandalay Bay, can I take markers out at other MGM casinos? For example, can I walk down to the Luxor, sit down at a table and ask for my money? Or do I have to fill out the paper work at each MGM casino I wish to play at.

Thanks for your help.

Thanks for the posting, I have had the same question for awhile as well. It would be nice to not have to travel to Vegas with a wad of cash and just be able to pull credit at the casino, but I dont want to be charged fees or take hits on my credit due to credit checks. Anyone out there with experience on this topic?

Quote: bdrobet

Thanks for the posting, I have had the same question for awhile as well. It would be nice to not have to travel to Vegas with a wad of cash and just be able to pull credit at the casino, but I dont want to be charged fees or take hits on my credit due to credit checks. Anyone out there with experience on this topic?

Don't worry about a "hit" on your credit. One inquiry won't make or break you on a loan decision. The public is too concerned with one "hit." If they looked today and you went for a loan in June at worst the bank will ask you what it was about when they see no corresponding new credit to go with it.

Btw, it is an actual hit on your credit report, and at least with MGM properties, the credit line is not transferable among casinos, you would have to reapply at each individual casino, at least this is what they've told me.

Quote: gambler

1. According to Max Rubin's book Comp City, casino credit is actually check-cashing privileges. The casino does not do an actual credit check, but rather just cares how much money you have in your checking account and how long you have had said money. Is this information correct?

2. If I open up a line of credit at the Mandalay Bay, can I take markers out at other MGM casinos? For example, can I walk down to the Luxor, sit down at a table and ask for my money? Or do I have to fill out the paper work at each MGM casino I wish to play at.

1. No. Casino credit is just that. They will do a credit check, and you don't have to present a check first.

2. They can "move" the line of credit from one MGM property to another. It might take an hour or two, as long as it is during normal business hours. All it takes is a verbal request at the property you want the credit moved to. At least that is how it worked with me. I would advise you arrange that before you leave home.

Thanks for all of the great replies. How about front money? If I send the Mandalay Bay a check prior to my trip, can I only get my cash from the Mandalay Bay?

Quote: gambler

Thanks for all of the great replies. How about front money? If I send the Mandalay Bay a check prior to my trip, can I only get my cash from the Mandalay Bay?

I don't think that is what most people do, so I'm not sure what would happen. They would not just give you cash, but would let you give you markers against the check, assuming they cashed it or approved it. If you want to have access to more funds that you're comfortable carrying around, getting a line of credit is the thing most people do.