Vegas gouge during March Madness

There's been a lot of talk on other websites (specifically the March Madness in Las Vegas FB page) about the massive increases in costs for this year. Many people have posted that they're skipping MM in Vegas 2023 for the first time in several years. Speculation is that it's partly due to the general on-going gouge, and partly due to a huge convention taking place the same week. But over the last few days, some watch parties are starting to offer discounts. Also, the best I could do for a strip room two weeks ago was $1200 for Excalibur. That room is now $543. 

I'm hoping that the casinos are realizing they over-reached. Too late for my group, because we've already booked an airbnb a couple blocks off the strip. But, maybe....just maybe... we've reached the bleeding edge of the Great Vegas Gouge. 

Then again, maybe it's just an 11th hour course correction. What do I know. 

As long as there are hordes of lemmings who are willing to be gouged, the casinos will have no reason to let up. I for one can't imagine it being remotely worth it to spend several thousand bucks to watch (and bet on) a few basketball games. But there are plenty of people with money to burn, apparently.

I've been speculating for some time that the gougefest has alienated a lot of visitors who came back to Vegas after a pandemic-forced absence and were appalled at how much everything cost AND how totally, totally shitty the service was. I really expected visitation to fall off drastically. It hasn't.

I've gone to Vegas a couple of times recently to burn through some comped rooms, do an LVA coupon run, etc. But I haven't gotten any more offers, even with fairly heavy play. It's Reno for me from now on.

I booked my March Madness rooms in late September (I usually do early as possible).  We normally stay at the Plaza on Fremont as they also send us comped rooms.  With 3 free nights applied to my early reservation my total with tax is $440 for 5 nights.  I check periodically their current room rates and the current price is over $250 per night before resort fees for a regular room.  Its definitely rediculous for downtown.  

Derek (D, Circa, GG) has also helped jack up the price of table games, last MM I saw (but did not play) $50 minimums at his properties.  Plaza was during prime time I believe $25 black jack.  The day games would drop to $15 if I remember right.

The key is to book very early, keep an eye on price drops and hope for free mailer comps.

The key is to stay the bleepity blank home. At what point does it become not worth it?

You have to ask yourself, if I stayed home and watched the games with the remote in one hand and a cold beer in the other, would it be that much less satisfying than being in Vegas with hordes of screaming loony birds and ridiculously inflated prices for every goddamn thing? Or could I spend that two grand on something else enjoyable?

At some point it may not be worth it, but this is the only time I get to meet up with 5-6 friends from around the country all at the same time.  We've been going for 15 years, so its still worth it for the gathering.  Yes, the loony birds are getting annoying, but some are worth the laughs!

I'm with you, Aaron. This our 19th year (except for Covid), and, yeah, it costs more, not as many deals, etc., etc. Hershey bars also used to be a nickel.

They haven't priced us out of this trip quite yet. Whether other people want me to stop going in the hope that prtices will come down for them is immaterial to me. As long as I'm getting sufficient value in fun and cameraderie, I'll keep going. Even if strangers on the internet want to call me a "lemming". 

Vegas doesn't provide the camaraderie--you and your friends do. But you can certainly pay whatever you want for a place to make it all happen.

What we've all been watching for is some kind of inflection point where a significant number of people say "Naah, this isn't worth it," and by significant, I mean enough to put downward pressure on prices. That's only kinda sorta maybe beginning to happen. Maybe the MM gougefest will accelerate that. What happens in Vegas shows up on your credit card statement.

I don't have much respect for people with no price sensitivity; they're usually the same gang that whines about inflation. I won't pay too much for something even if I can easily afford it, but I realize that I'm in the minority (if I wasn't, Vegas would be empty this weekend).

we haven't even begun to see the full effects of inflation brought on by decades of bad monetary policy.  As we are heading into the greatest bubble pop in world history, people are going to be very surprised when their credit card percentage rates increase exponentially month after month.  Most people are living large on credit and its going to be a disaster in the likely near future.

But back to the topic, prices will drop in Vegas, but few will be able to afford to vacation as their jobs and 401ks will be devastated.  We'll be in a situation like the former soviet union when everything fell apart.  If our current administration doesn't get us nuked and dead, we'll all probably be fighting over a can of cat food behind the burnt out mini mart before too long.

until then, I guess we party like Rome is burning.  And it is.

Well, the only way we will be saved from the apocalypse is if we elect the noble Republicans--"the party of fiscal responsibility," y'know--to every office in the land. Then it'll all be sunshine and rainbows again--0% interest rates, 3:2 single deck blackjack, complimentary cheese on everyone's Whopper, and free parking for all.

And quite frankly, piling up debt is not a bad strategy in times of high inflation. So I applaud the Republican* party for choking off the government's revenue in 2018 and fighting off Biden's eeeeeevil tax-and-spend liberal right-wing radical woke agenda. We NEED to go bankrupt as a nation to teach us a lesson so that we never vote for any of those liberal radical radical liberal radical liberals ever ever ever again. Otherwise, we will definitely see the end of American society as we know it. Unless President Tucker Carlson** saves us in 2028..

*the noble party of fiscal responsibility

**The Prophet

Back from MM. Actually found 5 dollar craps at Ellis Island on the weekend and at Gold Coast on weekdays. I don't think that was the case last year. As usual, we had most of our fun downtown, and the change in Downtown Grand is incredible. Five and ten dollar tables were packed on Saturday with decent VP at the bar. The crowd was lively, employees friendly and efficient. The last few years DTG was a ghost town (which is what our former favorite place Main Street Station looks like now). 

My only gambling on the strip was limit poker at Horseshoe. Just as much fun as the old room at Flamingo, and a LOT more comfortable. Tables were always jammed together at Flamingo.

Personally, I think some cracks are starting to develop.