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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.
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Quote:
Originally Posted by
accountinquestion
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.
Circa does a lot of things right.
They try to be forthright, accessible, and customer friendly.
Look at the sportsbook. They don't ban anyone for being sharp. They run big, juice-free contests. They are good at social media.
And guess what? Of all the casinos I contacted about scammer Christopher Mitchell, they were the only ones to respond and subsequently ban him.
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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.
You're on the right track. The sexual stuff can present some problems (you don't want your property developing the reputation as the place that the pervs and deviants choose), but I like the party bus idea, and I like your general mindset of being different.
That was my point in some of my tweets, in fact. "When you're #2, you try harder."
If you're some mediocre off-strip property, you can't just expect to succeed because you're the new owner and ran some ads on TV. If people don't have a reason to leave the strip and come to your place, they won't.
If you're a new property which is too far south or north on LV Blvd, again, you need to give people a reason to show up. Many of these properties (SLS/Sahara, Resorts World, Fontainebleau, Rio) just assume people will want to come because the property is new/renovated, and therefore "high end". Doesn't work that way. You don't get people to your property simply by being new or high end. You need to provide some appeal beyond what they already find at their normal destinations.
In the '90s, these new resorts understood it. Mirage had the volcano and the tiger displays. MGM had the lions and the nice pool. Luxor had the pyramid. NY NY had the city gimmick and the rollercoaster. Treasure Island had the pirate show. Bellagio had the chandelier and conservatory. These were destinations. Some others did well enough because they were sandwiched in between all the other hotels everyone wanted to visit, such as Monte Carlo (now Park MGM).
Anyway, I think Wynn kinda broke that thinking. They didn't have a gimmick. When they opened in 2005, the only gimmick was, "I'm Steve Wynn, I'm a fucking Vegas hotel legend, and this is my new luxury hotel with my actual signature on the front of it." And it worked. But that made everyone else think that if you just open a nice hotel and charge a lot of money, they'll come. Yeah, if the location is desirable, sure. That's why Aria, Cosmo, and Venetian were slam dunks to succeed. But if you're away from center strip, good luck.
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This video pretty much sums up this thread...
https://www.youtube.com/watch?v=i91XV07Vsc0
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