Comp guidelines in Vegas have been in a constant state of flux for a couple of years now. Some of that is due to increased tourism to Vegas. Some is due to the expectation of Wynn Resorts. The Wynn resorts approach, IMO, is related to the ?let?s get ours before they get theirs? approach, as there is no doubt in my mind that Wynn will have an effect on all the other properties on the strip.

I recall talking to the staff at the Beau Rivage, and how they all ?missed? the Steve Wynn ownership. In Vegas, there are very few, again, my opinion only, who wouldn?t jump at the opportunity of working at Wynn resorts. When the Golden Nugget was finally transferred from the MGM/Mirage to the Vegas carpetbaggers (who have now sold it) the employees there were thrilled to be out from under the MGM. And reminisced about Wynn

All this brings me to my comments on comps, of which for the next six months, or longer, there will be increased opportunities for APs.

We know that the beancounters have been out of control, and have had free reign due to the increased tourist effect. But that is about to change. On April 28th, i.e., the day Wynn Resorts opens, the tightening of the comp guidelines for all properties in Vegas will end, at least temporarily. Competition brings out the internal paranoia (between themselves) that casino properties have when confronted with lost revenues. And make no mistake about it, there will be lost revenues due to Wynn.

It is an excellent opportunity to get on as many mailing lists at as many properties as you can. Introduce yourself to as many hosts (even if you don?t qualify at their normal levels) as you can. Ask every pit for as many food comps as you can. And make stopping in at Wynn Resorts an immediate visit the moment you arrive in Vegas, and then constantly make banter at the tables about Wynn this, and Wynn that. Make them work harder for your business.

If you already have hosts, call them up and tell them that you?re planning to come to Vegas, but are thinking about staying at Wynn, as ?you have a guy?, and they claim they?ll treat you right. You?ll be surprised, I think, at how accommodating they?ll be. I have been receiving calls from Vegas hosts recently.

This is a good time to develop a different comp strategy. Share some of your thoughts, and we?ll all benefit I?m sure.

cheers
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