Venetian/Palazzo Revenue plummets

No....they spend their time trying to prove you wrong for whatever reason.

Geesh....hey Money, when did you become the FFA "whipping boy"? I find it as no surprise that their gaming revenue took a steep dive along with hotel occupacy rate. I stayed away from the V/P on my last trip...usually I have at least one breakfast and lunch at the Bouchon and Grand Lux per trip and play a couple of hours of BJ and several hours at my favorite Star Trek machine. I have no sympathy for them after their 'bush league' strategy of pulling the plug on players who had already booked rooms from comped offers. However, I think I will wait for a couple more business quarters to see how they fare, before I leap onto the boycott Victory bandwagon. Maybe their increase in rooms being occupied by "cash" customers will ultimately pan out....time will tell. Still, I think they have dug themselves into a hole in ruining the average gambler's trust with their tactics.

Glasses can affect your vision; especially when they have been emptied several times......

Even with the use of creative accounting, showing improvement in "cash" room occupancy, F & B, retail, etc, I do not see how those numbers will be enough to offset the lost revenue from the casino gaming "win".

The use of "Creative Accounting" could probably be used to put a positive spin on just about anything.

Is it possible that LVS doesnt care about gaming revenue at the Las Vegas properties? (I think I raised this before in the "original" thread.) They want the convention business in Vegas with the Conventon Centers nearby and they get plenty of gaming revenue from overseas.

did anyone else notice that Caesars Palace at the same time started to upgrade their lodging and restaurants and entertainment venue also DECREASED the number of table games and slot machines?

Perhaps there are some companies that have a different strategy?

Their former customers have moved to Wynn, Caesars, Cosmo and City Center. If losing market share was the strategy, they are succeeding.

Former Palazzo customer here.

Now we are based out of Csmo and exploring their restaurants, places at Aria and re-visiting Bellagio.

Bad move from LVS.

Former Palazzo customer here.

Now we are based out of Cosmo and exploring their restaurants, places at Aria and re-visiting Bellagio.

Bad move from LVS.

Some belated random thoughts...

The main complaint when V/P first implemented their comp cuts was the way they treated their customers. This may end up as a classic case of don't burn your bridges. The arrogance of assuming that this was a winning move and pissing away any customer loyalty they had established may come back to bite them. I for one hope it does. Karma baby.

This discussion about V/P's also illustrates something that is common to many casino business threads. There is always one camp that operates under the belief that the casino suites MUST know what they are doing. They have more data to base decisons on, they do it for a living and they have extensive experience in the industry. The other camp does not assume that the casino suites know best and they question the wisdom of most of the current strategies. IMHO, it is a mixed bag, I would guess that they make the correct calls in most cases, but there are times when they screw up bigtime.

Unfortunately Mr. Adelson is probably listening to either his beancounters or someone who has run surveys of how hotel business is done in other cities. Las Vegas is unique, and one must throw out the Standard Operating Procedure manual when it comes to hotels in Vegas. Even with a change in policy, V/P should have honored all existing offers and comps that they put out.

the casino suites I have stayed in haven't known a whole lot