Are Las Vegas Buffets Still Loss Leaders?

Are buffets self-sufficient or loss leaders that casinos can’t afford to to give up? With the rebranding of Park MGM without a buffet and others offering weekend-only brunches, are we starting to see a trend here? Do you see them being offered at the larger casinos only? I love buffets and consider them just as iconic to Las Vegas as the shrimp cocktail.

Park MGM joins New York-New York, Venetian/Palazzo, and SLS as the only major Strip casinos without buffets. We don't see a trend developing there.

It's true that downtown has only three buffets, but we believe that's more a space issue than a move away from all-you-can-eat. Especially since every major locals casino has one.

We also put this question out to a few Vegas veterans.

Anthony Curtis says, "No. The lack of a buffet at Park MGM is the exception that proves the rule."

One correspondent who wishes to remain anonymous agrees: "I see no signs that the buffet phenomenon is on the wane. Quite the opposite. The last time I checked, Las Vegas had about 70 buffets. I think resorts are actually amping up their buffets. The Tropicana relaunched its buffet, AYCE opened at the Palms, Palace Station is remodeling its Feast, and Treasure Island is in the midst of a buffet renovation that will keep it closed until at least August.”

David Schwartz, director of the Center for Gaming Research at UNLV and author of the excellent history of gambling, Roll the Bones, tells us that at Park MGM, “They're trying to offer a higher-end experience, so they cut out the buffet and instead plan to open Eataly, which will have little restaurants inside and food vendors outside. It's just a different way to eat a lot.”

As for the loss-leader aspect, Schwartz thinks they're no longer unprofitable. "They tend to be self-sufficient these days, hence the trend toward higher-priced buffets."

We're not so sure. The economics of buffets are closely kept and have been for as long as we can remember. We've never seen any profit or loss figures.

Buffets are, of course, different than sit-down restaurants. There's a much smaller wait staff. The food is prepared in bulk from a prescribed menu. No one sends food back to the kitchen. And sure, they have to contend with big-eating customers. But buffets are often a family affair, so even if Dad and Buddy can pack away the poundage, Mom, Granny, and Sis most likely balance them out in the food-consumption department.

Excess waste is the big expense. We have seen numbers for that, ranging from a manageable 5% all the way to an excessive 25%. We've also noticed a trend toward single servings, notably at the Wicked Spoon and the new AYCE buffets. No doubt that improves the buffet bottom lines at Cosmopolitan and the Palms, respectively.

We say it’s hard to imagine Caesars Palace’s Bacchanal Buffet at $69.99 for the weekend dinner and Bally’s Sterling Champagne Brunch at $95 losing money. But some of the less expensive gourmet buffets (Bellagio, Aria, Wynn) and certainly Station Casinos' bargain Feasts and the spreads at places like the Rampart, M, and the Rio are almost certainly loss leaders to some extent.

What do you say?

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Comments

David Miller Jul-06-2018

Pricing

 I think buffets should be priced according to a persons weight - the more you weigh, the more you pay. That would be a great dieting incentive and would stop the "peak loaders" from gorging.

Dan McGlasson Jul-06-2018

AYCE buffet

People who load up the plates and then leave half behind to go to waste are frustrating.  The single serve at AYCE does promote better portioning, but it also promotes fresher quality.  Strongly recommended!

Jackie Jul-06-2018

Other

There are many issues to buffets.  Plate loading is mainly due to so many choices that one wants them all.  There is the factor that while something looks good, it does not taste good.  The higher buffet prices force people to "get their moneys worth".  Some people bring baggies to fill and walk out with to get their moneys worth.  Seafood night is a joke offering just crab legs and a few odd ball things nobody wants.  The food is very bland so that it will appeal to the masses just like MacDonalds.  For the prices charged for buffets these days you would be better off eating locally but that would mean wandering too far away from the gambling.

Luis Jul-06-2018

Tradition

It's part of the charm of Vegas, I am aold times vegas Fan, and miss all the old time charm, even the themed and family oriented Vegas. I know, the old Bordwalk was not that great, but it still had It's place, to bad they got "to old" for Vegas. Still the Buffet is a part of and should be allways a part of Vegas.

Larry Stone Jul-06-2018

pocket

i usually put something in my pocket when i leave the buffet to eat later.  one time i did it with soup--what a mess!

Deke Castleman Jul-06-2018

This in via email

For us, a variety of buffets has always been part of the LV attraction.  We loved the variety of tastes and flavors and the chance to try all the good stuff.   The fancy $$$ ones offer champagne (oh.) that we don't want, just good variety.   That's one reason LV has lost its luster.  I love the neon and themes and sound of coins dropping!!!   Excitement!!!

Susan Johnson Jul-06-2018

Love buffets

My husband and I love buffets.  We normally go when there aren't any lines, so we get in quick.  There are usually plenty of vegetables, salad and fresh fruit to go with a main entree, so much better than most "fast food" meals for about the same cost or less. (low priced or comped)   I like trying new dishes, he does not, so a buffet works well for us.  I hope they are here to stay.

O2bnVegas Jul-06-2018

Big eyes, smaller stomach

The buffet business model is what it is, a variety of mediocre food for one price; something for everybody, not all things for all people.  Often the eyes are bigger than the stomach while grazing the steam tables, and/or food item(s) look good but taste blah, hence food left on at the table.  Who would finish eating something that isn't worth the calories?   Best bet at most buffets--soft serve ice cream.

Roy Furukawa Jul-06-2018

Buffets are LasVegas

Buffets are a Vegas icon like the showgirls, but I hope they don’t meet the same fate. I don’t frequent buffets every trip, but when you feel like having a choice of things to eat, it’s nice to always have that in Vegas.

[email protected] Jul-06-2018

Profits

It's hard for me to believe that they aren't making money at the prices they charge.  Last time I was at TI it was $20+ for Breakfast and $30+ for Dinner.  In comparison, at the local Golden Corral, breakfast and lunch buffets are less than $9 and dinner is $12 or $14 on weekends.  And I think, by and large, the food is just as good as what I've found in Las Vegas for general buffet fare.

If I'm spending $30 on a meal, I want a full service restaurant!

Annie Jul-07-2018

Boardwalk, OMG.

Someone above wrote "I know the old Boardwalk was not that great, but it still had its place." The Boardwalk was where I drew the line. I could find a few good things even at the Circus-Circus buffet that were pretty good (when it cost $3 or $4), but I always thought the "blue food" buffet in "Vegas Vacation" was modeled after the Boardwalk buffet.

Someone above wrote that people brought baggies to take away food from buffets. I used to wrap fried chicken and brownies in the buffet's paper napkins as if it were a spur of the moment decision. Bringing baggies, requiring planning and forethought, would have seemed too much like a professional buffet thief.

John Foisy Jul-08-2018

Fewer Buffets?

I like good buffets because I look for high-quality protein and lots of fresh vegetables and fruit. And always a small dessert, otherwise avoiding carbs. Spice Market at Planet Ho used to be very good, but not since the remodel - drastic reduction of seafood. Aria and Wicked Spoon are very good but pricy. Caesars and Bellagio are way too expensive. I haven't been to Flamingo, Harrah's or Orleans for a few years -- I used to like them, but they may have changed. It's not easy eating at restaurants when you're trying to avoid carbs (bread, pasta, potatoes etc.) so buffets are better and easier.

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