Quote:
Originally Posted by phunkphish
Vegas is not what it once was.
I had a thought... and this is a "It's 1am and I'm probably too tired to be coherent or sensible" thought. Vegas is really doing **** backwards.
Think about it. In the 50's, when the mob ran Vegas, there was zero competition for what Vegas offered. Atlantic City existed, sure, but it was nothing like Vegas, even back then. The mob could have gotten away with charging for parking, resort fees, skimping out on drinks, making food more expensive, etc. Where else would people go? Instead, they gave away the farm knowing that whatever they lost, they'd get back ten fold in gambling revenue.
Now, 30 states have legalized gaming (either state-run or tribal-run). Competition is everywhere. People literally don't have to even go on vacation to get their degeneracy fix. If Vegas wants to remain a destination, they should be doing things like giving away the farm. Instead, with all this competition around, they're starting to price themselves out of the market.
The logic of everything just seems completely backwards to me. I understand why the CEOs are doing it - they don't care about anyone except the shareholders. And with MGM, the stock price actually ticked up once they announced the pay-to-park scheme. Every Vegas local could mail their MLife card back to the MGM corporate offices and tell them to shove it, and it wouldn't change a thing as long as that stock price held steady.
Why the **** am I still awake...