Originally posted by: Dan Svatass
The rake that the casinos got operating a 9/6 quarter JoB machine in 1986 is no longer profitable 39 years later.
Times change, folks.
To be fair, the change only involves video poker players, and their slot club at 0.15% return is still three times what Boyd and Stations offer (0.05%). So it looks like they're doing what businesses do often do: raise the prices and hope that the resultant loss of customers doesn't cancel out the increase in revenue.
So I blame the other locals' casinos just as much. South Point created its generous players' club because they were fighting with Stations and Boyd for locals' business. But Stations said, "No deals for anybody!!" and slashed players' club benefits, while Boyd said "No points for you!!" to anyone who plays less than $75000 a quarter. I'm surprised that SP waited as long as they did for this downgrade.
Their scaling back of promos over the last few months is arguably worse. But as we've all noted, they're packed day and night.