Venetian/Palazzo Revenue plummets

Remember when we were discussing this topic not too long ago? The Venetian was basically going to scrap most of their comping policies except for their very high rollers. They wanted to depend upon the convention crowds for normal room revenues. Well it looks like the bean counters failed. Isn't it interesting how some of the Old School Vegas ideas don't need to be altered?

From today's LVA shorts:

looks good on em....BOYCOTT!!!!!

Could not have happened to a more deserving guy.

Even when they change their misguided policy back I will not play their again.

47% decline...wow.

Where is MoneyLA at? Didnt he say the V/P knew what they were doing and they would be just fine?

he is working on his new thread, rumored to be titled "how many seasons need to be cycled before we can determine whether or not revenue has increased or decreased?"

based on this line "The resorts have yet to cycle through multiple seasons that attract different types of customers, from tourists to conventiongoers, said Bill Lerner, a principal with investment analyst Union Gaming Group."

from this article:
https://www.vegasinc.com/news/2011/may/11/revenue-tanks-after/

Maybe he meant that they would be fine in the long term and we won't reach the long term until every possible combination of CEOs and presidents have tried out all of the ideas on how to run a resort.

Ummm... did any of you bother to read the rest of the article?

Agreed. I love seeing the bones of his failed condo tower every time I drive past there.