Voting with your dollar in the Casino Industry Doesn’t have an effect anymore due to patron self-indulgence, historical awareness, and stupid money management.
There – I said it. And I feel better. Tim Dressen, of “Five-Hundy by Midnight” taught me a very valuable thing – it’s my blog and I can express my feelings how, when, and to the extreme i want to. Thank you Tim! Here goes…..
How we spend our money is an important factor in where we gamble, stay, eat and be entertained. Where we spend our money and actually win is probably more important to us. You supposedly VOTE with your dollar by choosing to spend, or not to spend, your hard-earned money where it gives you the best experience, thus giving management input on change or status quo. But the issue of “Voting with your dollar” to influence the gambling industry to me is like attending a meeting for input without having an actual influence or “vote” at all.
Put the whole casino experience together and it comes down to one thing – we are seeking best value for your dollar – or, in my opinion we should be. The dollar, the money, the moolah…..voting with it by spending it on the best value. Do you REALLY believe that individual financial vote with YOUR money makes a difference?
Let’s look at a gambling trip. If you are against poor video poker tables, then you gamble at places with better pay tables. Best table games odds should be looked for and slot play should last longer than other casinos. Then you play at those casinos that statistically can give you a better and longer play, thus a better and more financially pleasing experience. Easy, right?
Do we do it? NO – or not nearly enough as a large economically committed group to influence the casino industry. Gamblers are growing by the thousands with each additional casino built from coast to coast.
Do you really think you have any power in your wallet when it comes to the casino industry? I’m an eternal pessimist on this issue, not because the casino industry doesn’t watch & listen, but because too many gamblers don’t care – especially new gamblers in their 20’s and 30’s. They just don’t get it. If the millennials were concerned about their debts (as statistics show us), then why are they visiting casinos spending tons of money on poor odds table games and inflated-pricing on cocktail service in clubs?
Twenty, or even ten years ago, there were great odds provided by casinos with great offers in the forms of coupon books, free this and free that. Not anymore. Spearheaded by casino giants like MGM with their Profit Growth Plan, casinos are looking to squeeze everything they can out of their patrons. Is it their fault for being greedy, or running their business in a manner to maximize profits? Smart business associates would say the latter.
The fact is, we did this to ourselves. Yes, it’s true. In this capitalistic society, you’d think the “almighty buck” would be an instrument of change, but it isn’t. Why does your dollar has the economic weight of a feather in casinos these days? Lack of awareness, lack of perseverance, and lack of money management. Because when it comes to gambling, there are too many stupid people (that’s right financially irresponsibly stupid) making stupid economic decisions that casino bean-counters are depending on. The casinos actually think we want to pay higher prices, get less comps, and play decreased odds – because that’s what patron’s “voting with your dollar” keeps telling them. Do YOU –
I’m talking to each and everyone of YOU who gambles or visits a casino for some leisure experience – do you enjoy the following changes we’ve seen:
- PAID PARKING at MGM LAS VEGAS PROPERTIES
- RESORT FEES
- 6/5 BLACKJACK
- LESS AMENITIES IN HOTEL BATHROOMS
- LESS AMENITIES IN HOTEL ROOMS
- SMOKE SCREENS ABOUT WHAT RESORT FEES PAY FOR – who makes local call these days?
- PAYING TO USE THE POOL & GYM
- PARTY PITS – LOWEST TABLE GAME ODDS FOR THE ENTERTAINMENT
- PAYING $4 – $6 for a BOTTLE OF WATER or paying $9 FOR A DRAFT BEER AT AN ARENA EVENT
- PAYING FOR DRINKS WHILE PLAYING
- DRINK PRICES SKYROCKET BECAUSE THE BARTENDER CAN JUGGLE BOTTLES
- GAMBLING ODDS LOWERED ACROSS THE BOARD, FROM TABLE GAMES to SLOTS & VIDEO POKER
- DIMINISHING REWARDS CLUB BENEFITS BY CHANGING THE CLUB TIERS, BENEFITS AT EACH TIER, AND INCREASING THE DIFFICULTY TO KEEP YOUR STATUS
So, what’s the solution? Maybe as patrons in all forms of gaming and entertainment we should diligently start looking at VALUE we get for our dollar. When visitation and revenue decrease, the bean-counters notice. The good news about the vast casino expansion in the U.S. is that for most of us, there is a casino close enough – go where you are treated well and spend your money where the value is. If you’re not getting the best possible gambling offered to you in odds, comps, and hospitality, MOVE YOUR OPERATION ELSEWHERE.
We’re losing the battle. OUR DOLLAR DOESN’T MATTER UNLESS WE START ASSESSING WHERE IT SHOULD GO AND WHOM IT SHOULD GO TO!
In New England, by 2020 there will be at least TEN casinos in operation. Visit all close enough to you and give the casinos that give the best value for you. It may not be the closest one to you. VOTE WITH YOUR DOLLAR.
Vote with your dollar. But realize, the battle and the war may is in the process of being lost. By 2020, we will see how value-driven we New England residents can be. Or we will join the rest of the country in letting the casino industry dictate what what the future of casinos will be.