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My Twitter thread about Vegas hote/casino fails which has 91,000 views (and counting)
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I said from the gets-go that RW and FB would be hard press to make a go of it cuz of the lousy locations, hey hey.
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Surprisingly bad decisions, but not surprising to anyone who’s ever worked in a large organization.
Upper management is often completely out of touch with the frontline realities of the business they are in.
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My opinion:
"Hope springs eternal..." both in the human heart and in the corporate board room.
Ya never know til ya try.
People doubted Wynn would succeed when he went to Wall Street for financing..
Life is change: keep up or get out of the way.
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FB is a stellar property with exceptional food. They could have overcome their location issue by dragging every high roller they could find into the property. Day 1 status match Noir, 7*, Chairman, Owners Club, whatever the fuck Boyd's top card is and give away a generous teaser room and F&B offer. If some people low play you so what. Don't invite them back. Have hosts ready to get credit accounts opened as quickly as possible.
Instead they dragged their feet on wooing the high roller market and didn't even bother with status matching until months after their open. Then they status match diamond which every non gambling cunt has from Founders card or whatever. Just a fucking awful rollout for a truly exceptional property.
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Quote:
Originally Posted by
jdaewoo
FB is a stellar property with exceptional food. They could have overcome their location issue by dragging every high roller they could find into the property. Day 1 status match Noir, 7*, Chairman, Owners Club, whatever the fuck Boyd's top card is and give away a generous teaser room and F&B offer. If some people low play you so what. Don't invite them back. Have hosts ready to get credit accounts opened as quickly as possible.
Instead they dragged their feet on wooing the high roller market and didn't even bother with status matching until months after their open. Then they status match diamond which every non gambling cunt has from Founders card or whatever. Just a fucking awful rollout for a truly exceptional property.
Accurate.
Well, mostly accurate. They were status matching for like a minute when they opened, and then they panicked about something and shut it down for awhile, and then only revived it months later.
And who can forget the embarrassing Nachogate debacle?
The problem is that Fontainebleu strolled into town (well, strolled after sitting idle for 15 years) acting like they were already a big deal. They weren't. They were just starting out, and they needed to establish themselves as a place high rollers would want to visit. Instead, they acted as if they were doing YOU the favor to serve you.
But high rollers alone wouldn't have gotten it done. It's a very large hotel, and it needs a high occupancy. They also need strong visitation from non-guests, in order to support the casino and restaurants. They're not getting it. People have no reason to go there, aside from curiosity. Even the parking structure is confusing with poor signage.
All of this can be fixed with a little market research, consisting of both tourists and locals. Hire executives who truly understand the market -- preferably ones who have recently been in important positions of successful Vegas properties. And by all means, don't come in from out of state, and pretend you know the Vegas market.
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Quote:
Originally Posted by
Dan Druff
Like it or not, people’s perception of center strip still ends at Wynn/Encore, and the strip malls beyond that suggest that you’re leaving the high end area.
Two huge resorts don’t change that, at least not enough to bring sufficient foot traffic & reservations to profit.
Why don't the owners of off-strip resorts buy more of the area around their properties and fill it up with nice stuff that deters sketchy people and attracts normal tourists?
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A couple of idea to help them grow their brand:
1) No resort fees (currently $50)
2) Free parking for all who visit (currently $18)
3) free shuttle bus to and from airport for ALL guests
These are "little things" but easy to implement and it would set them apart from most of the herd.
Or, if not them then perhaps another property, perhaps focus on Spanish speaking people by having only bi-lingual staff and Spanish-Amecian attractions / offerings.
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Quote:
Originally Posted by
MisterV
A couple of idea to help them grow their brand:
1) No resort fees (currently $50)
2) Free parking for all who visit (currently $18)
3) free shuttle bus to and from airport for ALL guests
These are "little things" but easy to implement and it would set them apart from most of the herd.
Or, if not them then perhaps another property, perhaps focus on Spanish speaking people by having only bi-lingual staff and Spanish-Amecian attractions / offerings.
The entire resort fees gimmick started to keep room rates lower and avoid paying more of a commission to 3rd party resellers like Orbitz and Hotels.com. Where else can you find a $25 room like you can on a weeknight on the strip? Unfortunately the idea has moved everywhere where hotels can get away with it.
Your other suggestions are nice, but let’s be real, aren’t ever happening in our lifetimes.
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Maybe have the free airport shuttle bus be a "Party Bus:" free alcohol for those riding to the hotel; lively music; bikini-clad driver.
At the hotel: cater to the Sin City reputation with a floor or two of rooms with "custom" features most of us cannot find locally, e.g. one of those swinging baskets with a hole in the bottom; chains on the posters of the bed; plus any other sex-related toys or implements that those into the scene can suggest.
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I've always been fascinated with the casino business in LV and studied it over the years. Came to the conclusion pretty quick it's not a business I'd ever want to get into or even invest in. Super volatile, you make bank if things go well, but when the economy dips you start hemorrhaging money. Very competitive and things change quickly. It seems to me ventures in Vegas are more about egos than sound business planning.
Did San Manuel overpay for the Palms?? I think they got it for about the cost of the remodel finished just prior to the purchase. You would think it wouldn't be too bad of a deal?
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Quote:
Originally Posted by
MisterV
Maybe have the free airport shuttle bus be a "Party Bus:" free alcohol for those riding to the hotel; lively music; bikini-clad driver.
At the hotel: cater to the Sin City reputation with a floor or two of rooms with "custom" features most of us cannot find locally, e.g. one of those swinging baskets with a hole in the bottom; chains on the posters of the bed; plus any other sex-related toys or implements that those into the scene can suggest.
Party bus. Get em loobed up before they show up. A smaller brand with a different approach could likely do well. Mavericks and risk takers don't really make it to the top of established business models though.
Funny.. Mavericks and maverick gaming. That nerd who got on roids and tats
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There is also the issue of how efficiencies of scale never lead to a an unforgettable experience. Same boring food court at every caesars .. makes the places all seem the same.
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Have the manager walk the floor hours each day.. Derrick stevens sorta does it. Look at how they've grown. Normal corporate guys never do that.
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Quote:
Originally Posted by
MisterV
A couple of idea to help them grow their brand:
1) No resort fees (currently $50)
2) Free parking for all who visit (currently $18)
3) free shuttle bus to and from airport for ALL guests
These are "little things" but easy to implement and it would set them apart from most of the herd.
Or, if not them then perhaps another property, perhaps focus on Spanish speaking people by having only bi-lingual staff and Spanish-Amecian attractions / offerings.
Paying for a chance to LOSE your money is one of the WORST Casino ideas ever IMHO. :/
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Quote:
Originally Posted by
Tasha
Quote:
Originally Posted by
MisterV
A couple of idea to help them grow their brand:
1) No resort fees (currently $50)
2) Free parking for all who visit (currently $18)
3) free shuttle bus to and from airport for ALL guests
These are "little things" but easy to implement and it would set them apart from most of the herd.
Or, if not them then perhaps another property, perhaps focus on Spanish speaking people by having only bi-lingual staff and Spanish-Amecian attractions / offerings.
Paying for a chance to LOSE your money is one of the WORST Casino ideas ever IMHO. :/
They aren’t paying for a chance to LOSE money. They are paying for a chance to WIN money.
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Quote:
Originally Posted by
DGenBen
Quote:
Originally Posted by
Tasha
Quote:
Originally Posted by
MisterV
A couple of idea to help them grow their brand:
1) No resort fees (currently $50)
2) Free parking for all who visit (currently $18)
3) free shuttle bus to and from airport for ALL guests
These are "little things" but easy to implement and it would set them apart from most of the herd.
Or, if not them then perhaps another property, perhaps focus on Spanish speaking people by having only bi-lingual staff and Spanish-Amecian attractions / offerings.
Paying for a chance to LOSE your money is one of the WORST Casino ideas ever IMHO. :/
They aren’t paying for a chance to LOSE money. They are paying for a chance to WIN money.
It's also a chance to LOSE money.
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Quote:
Originally Posted by
Tasha
Quote:
Originally Posted by
DGenBen
Quote:
Originally Posted by
Tasha
Paying for a chance to LOSE your money is one of the WORST Casino ideas ever IMHO. :/
They aren’t paying for a chance to LOSE money. They are paying for a chance to WIN money.
It's also a chance to LOSE money.
Of course. LOSING money is the most likely outcome, but from the customer’s perspective it’s a chance to WIN money which is what they are paying for.
From the casino’s perspective it is a WIN WIN because although the most likely outcome is the customer will LOSE money, the casino has also figured out a way to get the customer to pay for that opportunity.
It’s what makes capitalism & America great.
Did you know you that in some communist countries when the government executed someone they would send the bill for the bullet to the deceased person’s family?
If paying a casino for the opportunity to LOSE is wrong, I don’t know if I wanna be right!
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Quote:
Originally Posted by
Tasha
Paying for a chance to LOSE your money is one of the WORST Casino ideas ever IMHO. :/
You have no choice if you are in an area far from home and need a place to sleep.
Oh, wait a minute...here's an idea...what if casinos gave you a FREE ROOM and FREE FOOD if your casino play meets their minimum gambling requirements?
You're just going to gamble anyway so why not get comps?
Oh, wait a minute...to get that level of comps you need a pretty decent bankroll; never mind, you seem (ahem) "underfunded" to say the least.
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Quote:
Originally Posted by
MisterV
Quote:
Originally Posted by
Tasha
Paying for a chance to LOSE your money is one of the WORST Casino ideas ever IMHO. :/
You have no choice if you are in an area far from home and need a place to sleep.
Oh, wait a minute...here's an idea...what if casinos gave you a FREE ROOM and FREE FOOD if your casino play meets their minimum gambling requirements?
You're just going to gamble anyway so why not get comps?
Oh, wait a minute...to get that level of comps you need a pretty decent bankroll; never mind, you seem (ahem) "underfunded" to say the least.
Don’t pick on Tasha. She may be underfunded but she over delivers.
