Question of the Day - 23 October 2019

It seems like Wynn's overdid it with their prices, but instead of admitting it and lowering prices, they will temporarily suspend the fees, then slowly reinstate them more in line with what the others charge. 

Perhaps I missed it, one of the choices should be "The removal of paid parking at Wynn will little effect the paid parking at other venues".   Visitors know they may save at parking at Wynn, but everything else there will make up for it:  pricey bars and restaurants, costlier rooms, and more  play for comps.   And the other venues (Caesars and MGM groups) know that as does their customers

Greed, Greed, hey strip look at todays best casinos poll, Greed on the strip, listen to the people not your fat cat execs.

Here's hoping all casinos will come to their senses and not charge people to park to come in an spend money at their establishments!

No way do MGM and Caesars walk away from that money. The decision to charge for parking is 100% for the shareholders. This decision wasn't made for employees, or customers, or the community. Decisions made for only shareholders are like drugs ... a cheap thrill and a hard habit to quit. Get used to it - these parking fees are here to stay unless and until either of these companies are taken private.

The Wynn & Encore parking situation decision was mainly influenced by having a high-end property Venetian and Palazzo next door where parking has always been free. The other properties on the Strip will have to feel that they are losing customers due to charging for parking, or that if they go back to free parking that they can steal customers away from the nearby places. It's always been about money, so money will decide what each place does.

As Don mentioned, I don't see Wynn's decision making much if any difference at other properties. Too many people are in the mindset that it just costs a lot of money to come to LV, so they throw it away without a care. Unless you can change that mindset, there's going to continue to be fees upon fees upon fees. One reason for Wynn to be different is they're sort of out on the fringe of the strip, along with having a higher clientele that may be offended by a parking fee on top of that $400 dinner.

I gave up the strip years ago for anything but driving down it to see what's come and gone. Too pricey for me.I stick with out-lying properties, Boyd, Station and sometimes we drive to Henderson to see what's going on. But we never pay for parking. We use valet parking and we tip well so they're always glad to see us and deliver the car promptly. I'd much prefer to pay a pleasant person than a machine or a "fat cat" executive!  :)

MGM and others have grown accustomed to the revenue they get from parking.  Parking is a cash cow and VERY MEASURABLe improvement to the bottom line..  Reductions in traffic, gambling win and other forms of income to casinos on the strip, while measurable, cannot usually be DIRECTLY attributable to parking fees. Casinos can and will rationalize other reason for the declines, from "less convention traffic" to "Bad weather."
  

Don't forget, for about 3 of the last 4 months strip win was down and downtown win was up a lot and still nothing was done about parking fees on the strip by MGM, Caesars, etc. 

Prediction, 

Short term, no change in parking fees at other casinos.  

Long term, any elimination of parking fees will depend on the duration and magnitude of any drop in win and overall income.   The Casino's tendency will be to rationalize lower revenue and blame anything else until the logic that the fees are the cause is inescapable.  Then the bean counters may relent. 

I think the local casinos will make out.  Why would a person pay to rent a car and have to pay for parking?  Next year, I'm going to book a room at the Palace Station or Red Rock.  Greed will hurt the strip. There are plenty of places to gamble that don't charge for parking.  

Wynn will end up having to reinstate their paid parking (maybe at a lower rate) because of one reason, arena and stadium parking costs money and people will take advantage of anything free, especially when it costs $10 or more elsewhere. What the casinos need to do is refund or give free parking if you patronize their restaurants or gamble at their properties. The T-Mobile arena and Raiders stadium will only make parking worse (and possibly more costly) for those casinos nearest the locations.

I would have thought that corporations like MGM would have kept free parking for their lower end hotels (to entice visitors). 
For Wynn  - i think it is a good business decision. It makes me want to visit his hotels more that a CP or MGM property.
Does anyone know what MB, Luxor, Excalibur will do when NFL football arrives on the strip.

Parking costs should be covered by the sky-high resort fees that hotel guests are paying. That would make sense. But nothing about resort fees make sense.

I don't have much opinion on the parking, but I sure will use the word "rescission" a lot going forward. It's a very cool looking word, and it beats hell out of "rescinding," which would have been my likely first option.