2nd Quarter I think, so likely April 1st.

Wow.

That means that it will be over a year between MGM announcing it and when they will be vindicated (or punished) by the market (assuming the first 10Q to report the revenue comes out in August 2016). That means a full year of the CEO taking **** from the media and the public for a decision he knew was going to be a lightning rod for criticism. It gives his critics a ton of ammunition if the move fails and he has to backpedal.

Are you implying that Jim Murren might not be America's best CEO?

I've paid for buffets several times on the Strip. I know that people complain about paying for $40 buffets, but I prefer a $40 buffet over the cheap locals buffets anytime. And I prefer to pay for a $35-$55 buffet over the cheaper stuff that's $15-$25 because I feel I'm getting something much better at places like Caesars, Wicked Spoon and Bellagio than I'm getting at a place like South Point or Fiesta.

But I'm almost having a hard time believing you asked that question. If I didn't want to pay for anything then I'd own almost no possessions at all.

Wait a second? People bitch and moan when they treat customers poorly?

Also, you left out the resort fees.

And I've seen plenty of bitching and moaning from people like James Murren in response to the backlash this has gotten.


I'm not surprised they're bitching and moaning about gambling revenues after they made slots and blackjack less fun to play.


If people didn't complain at all then wouldn't that give them a reason to charge much higher parking fees? I thought one reason it took this long to start charging for parking is they knew it would be unpopular. If people didn't care about paying for parking then why not get more bold and charge somewhere around $20-$40?

I see this type of reasoning all the time. Murren and others have a similar argument when they said "But other places charge more so $10 and $17 for valet isn't that bad!"

These are textbook examples of the fallacy of relative privation. You can always come up with worse examples. That doesn't mean we should dismiss what's going on right now. Someone having it worse than us doesn't make our problems irrelevant.

There are bumper stickers and magnets being sold now.

I'm implying that he's either very secure in his position (that he'd risk getting canned in the meantime) or very insecure in his position (that he'd defer such a risk to the distant future).

Most CEOs want to make a bold decision and then find out they're right as soon as possible.

It's a weird thing to basically volunteer to be grilled for a year.

Using the word "fallacy" makes your position sound far more logical than the reality, which is "I'm mad and I don't wanna!"

Sure, casinos bitch and moan about deteriorating gaming revenue. But in the end, they didn't sit there and continually bitch and moan while the stream of life passed them by. They went out and made money off clubs. And restaurants. And now their parking garages.

You want to go do something about it, sure, sign petitions and post comments on their Facebook page and put bumper stickers on your car. But more likely than not, you'll get nothing except for the satisfaction that you tried.

You can boycott, of course, but all that means is that you don't get free parking by not getting parking. Boycotts only work if valuable customers boycott, and fundamentally poker players are not valuable.

Look back 15 years. 6:5 blackjack was an anathema, now it's standard. Top of the line buffets went from $15 to $25, now you'd even pay more. You're in the midst of a fundamental shift in the Vegas economy, and if you want to pretend worse times for gamblers aren't in store, well, nothing I can do.

What calli said.

Bumper stickers are slacktivism at its finest. If I were the MGM CEO, I'd sell them myself to keep people from objecting in a way that actually mattered.

You make it sound like we should admire them for starting the parking fees. I don't really see how it compares well to clubs and restaurants either. Those are things customers are far more willing to pay for and they get something for their money. Almost nobody looks forward to the parking experience the same way they look forward to experiences in a restaurant or a club.

Poker players are only a small percentage of the people threatening a boycott.


Actually I agree with you here.

So far on whether they will validate parking, this is all I've heard:



I thought I read somewhere that the second part (being charged each time when going to another MGM property) was inaccurate. Am I wrong?

I neither admire them nor despise them. It's simply an economic inevitability that we need to adjust to.

This made me laugh

Until you discovered them on the walls of your parking garages and public bathrooms.

Next they will charge for bathroom like in europe. To get into the stall you must insert coins or credit card.

Strip is transforming from casinos with a hotel to hotels with entertainment and attraction. Tourism and entertainment is bigger than gaming now

This isn't because they want it that way; the little guy supports this resort area and the farther away from the old lady at the slot machines the closer to the demise.

Back in the good old days LV had a monopoly on gambling (except for AC) and now there are casinos in most states and large metropolitan areas. You don't have to go to vegas to gamble any more so vegas had to adapt and evolve.

Gambling could still be big there, but when they make the rules/odds worse, less people gamble, when their gambling revenue declines, they make the rules/odds even worse trying to make for it, quite the vicious cycle.

I'm not sure if this was serious, are a sarcastic response to something I missed.

What will be the best places to park near Aria poker during WSOP this year? Cosmo or PH?

And is anyone familiar with this Crystals lot that they say will still be free?

Vegas needs a total reinvention as you can gamble anywhere now and everyone knows "Sin City" is really just a safe Disney version of sin. Nevada needs to legalize prostitution and hard drugs full stop. Vegas was built way out in the middle of nowhere so that people could get away and do things that were frowned upon throughout the rest of America.

It couldn't exist if prostitution and hard drugs were legalized instead of mostly just "might as well be legalized."

We residents have to make our money somehow...

I apologize if my statement is aggressive.
I went there January and I didn't get charged for anything (I drive everywhere)
I think, Blackjack card counter and poker player (among other professional gambler) are the few groups of people going into casino with an expectation of winning. All other people went into the casino to have a good time (value of enjoyment) and if they win it is better.
So I am very sensitive about rule/fee like parking fee, resort fee, table rake, tipping and promotion while all other hotel guests are not so much. And I dont blame MGM for charging those fee.
Most casino guest are price demand inelastic.
If we make strip as a Cournot Duopoly:
MGM and CET
if price demand is inelastic on parking, 40% people drive
It is very possible that MGM has a first mover advantage, SPNE in MGM advantage
This can also caused by
1 brand name
2 MGM location against CET
3 Attractive for tourism
4 Convention space (Business pay for parking rather than the driver)
5 attract higher roller/ higher bankroll player than CET
6 parking fee used to add more parking structure.

It is very possible, MGM charge 5$ for parking, MGM parking improved, CET get worse.
Non-driving player does not move
CET get more low roller
MGM get more price demand inelastic player (wealthier player value convenient of parking better than 5$), and MGM dominate the convention guest. and maybe MGM get less advantage players as a $5 or $10 parking will do

I'll 100% agree with this. I'm sure Vegas culture was "edgy" when 1950's values ruled the bulk of America, but in this day and age, nothing that happens in Vegas, outside of casino gambling, isn't available in every major city in America every day of the week.

Everything supposed to be sexy or risque is like impressive if you're maybe 12-14.

I really do get the vibe that it's this very sterile, corporate safe version of what a rube would consider "sin"

Actually there are plenty of non poker/blackjack players who are extremely upset about the parking fees. Some people don't seem to realize how big of a deal it is here. The folks with MGM probably didn't expect so much of a backlash.

I know that people say that people will pay anyway, etc. But I'm sure some people won't pay the fees and one thing that hasn't been mentioned is many locals are former tourists who moved to Vegas because they love to gamble in casinos, and I've seen some of those people get really upset even when there is a chance they won't have to pay the fees.