You Get What You Pay For
If anyone’s interested, the red marker on the photo, showcases where we were staying at the Encore Tower in May 2022. We had a great view of Resorts World , the North of the Vegas strip, and we could also see Circa Las Vegas ( Downtown Las Vegas).
The Wynn is indeed a beautiful resort. What makes them stand out, are the details to the rooms and service. Service and your comfort in your room is everything.
Are Premium Resorts expensive?
If you compare The Wynn to , let’s say Cosmo, Resorts World, The Venetian and Palazzo ( you can see on the photo, it’s next door to the Wynn ) The Bellagio , ARIA and Mandalay Bay, they are all similar in price. You can get a room with the said Vegas Resorts for the same or comparable price from $119 - $136 per night. Of course, this is on the assumption you have their Resorts Players Card. If you just went online to purchase a room WITHOUT the Players Card, expect to pay $350 per night.
So, you see, how important the Players Card are ?
The Players Cards are free, and with some, you can request a card online, on their website. With these cards, you will receive room and entertainment offers in your email throughout the year. IF you gamble in their casinos ( depending how much you gamble ) you can get complimentary ( known as COMPS) , such as, rooms free of charge, plus cash credits. For example, at the Wynn Resort we received 3 free nights and $250 cash worth of credit. Most will think I gamble a lot, but that is so far from the truth. In the 6 days we are in Vegas, we play $600 — tops ! For the whole six days.
I know some Vegas lovers that will spend $3500 for the same period of time. We are retired and NOT wealthy, in any means. We only play what we can afford, which is $600 for the whole trip. This may sound like chump change, but it’s enough for the Resort to notice, we were in their casino.
“The trick, William Potter, is not minding that it hurts.”
― T.E Lawrence
Yes. There’s a trick. This only works with Resorts you haven’t stayed at yet. This part is very important— once you stay there, and you still aren’t gambling big, they will also notice and not offer as big as they did when you weren’t a guest at their resort.
Example: Now that we have stayed at The Wynn ( because they noticed our low gambling strategy) they now offer lower deals. The Wynn now offering us rooms at $109 per night with only $125 credit.
You may ask , “Why is that ? “
Why would they give you higher COMPS when you haven’t stayed there yet, compared to lower COMPS, when you you have stayed in their resort. It’s simple logic— they want your business.
Once you’re a guest of their Resort, you will spend more money on restaurants, entertainment and hopefully gambling. It’s true. You’ll spend money on their property, from restaurants to lounging at the pool. Their motto is,” No matter where you are on their property, you will spend $60 - $400 every time you do something.
For example: I am conservative with spending money, so I head to the pool. The pool oasis is great, but, trust me, you will get thirsty and hungry. BAM ! You unconsciously spend money. Their drink prices are designed to pay, while you lounge at the pool. Drinks will cost from $15 - $38 per drink.
But, hey ! Look at it this way. After all, you are on holidays and you want to pamper yourself. Otherwise, what’s the point— right ?
In comparison to Resorts in Canada, Vegas still comes out way ahead. In Banff, you can spend $650 - $1100 per night. That is just the room ! In Canada, it’s expensive to stay at any of our resorts, in comparison to Vegas Resorts. In any Canadian Resort , it will cost two guests $3600 , just for the weekend !
So, you seeing the picture now ?
In Las Vegas, you can spend 6 - 7 days for the same price, and that includes the flight ! Some may spend more, but NOT much more. This is why Vegas is the worlds hotspot for vacations. Their marketing plan is simple : Get them to Las Vegas and they will spend the money. It’s a matter of getting them there first. So, what do they do ? They offer great room prices and cash incentives.
Brilliant !
Their marketing team are the best in the world.
Wynn Resorts Worldwide , Limited Reports First Quarter 2022 Results : Operating revenues were $953.3 million for the first quarter of 2022, an increase of $216.7 million, from $736.7 million for the first quarter of 2021.
“Wynn Palace Operating revenues from Wynn Palace were $163.3 million for the first quarter of 2022, a decrease of $74.0 million from $237.3 million for the first quarter of 2021. Adjusted Property EBITDA from Wynn Palace was $(0.9) million for the first quarter of 2022, compared to $27.4 million for the first quarter of 2021. VIP table games win as a percentage of turnover was 2.05%, below the property's expected range of 3.1% to 3.4% and below the 4.38% experienced in the first quarter of 2021. Table games win percentage in mass market operations was 20.9%, below the 21.7% experienced in the first quarter of 2021.”
Notice the gambling percentages did NOT reach their prospective range of 3.1 % to 3.4 % . It was a turnover of 2.05 % . Because their projection is lower this quarter, I expect their gambling machines will be at a lower payback then, say, in September, for example. We like to say,” Looks like the slots are tight”. Which means, expect lower payback.
For example: Slot machines at the Palm, Las Vegas have an higher return on your money, at a RTP of 94%.
What does RTP mean ?
Simply means “Return to Player “ You have a higher chance of getting a better return on your money.
Read here for detailed explanation —
In layman’s terms — We say the slot machines are loose.
So — tight means less payout and loose means higher payouts. However, that does NOT mean you won’t loose money. You must play conservative with only the money YOU are willing to LOOSE. Think of it as entertainment for the night. Any kind of entertainment will cost you something. Just remember that, and any winnings, will be a BONUS. NEVER EVER spend any money you can’t afford to loose.
Another important thing about staying at your Resort in Vegas. Be damn sure, after you check-in, go to the Players Club Kiosk and LINK your room stay with your card. I too have made this mistake and wonder why I didn’t receive many comps when I get back home.
In Conclusion:
Las Vegas Resorts are your best bet in enjoying your vacation at a cost suitable for your lifestyle. Never go over your limit, no matter what. Only spend what you can afford and keep enjoying Vegas, my Vegas friends.
Follow me — Next time I will talk about, “ How to enjoy Vegas Entertainment for Free ? “
Cheers !
