It's Tax Day: Money Matters in Las Vegas

Happy April 15th! I hope you are not preparing to write a check to the IRS today, but if you are, I hope it is because you won a lot of money in Las Vegas.

When you think of Las Vegas, you probably picture the bright lights, the fancy clubs, the posh restaurants, the cool pools and the imaginative shows. You may even think of the casinos, but statistics show that not as many of you are thinking primarily about that, even though there are record numbers of folks visiting.

There are several reasons for this phenomenon, including but not limited to:

• You can gamble anywhere. When Las Vegas and Atlantic City were the only places to place a bet, it was a different story. Now, you can find a casino on almost as many corners as you can find a Starbucks.
• High rollers are not the target market anymore. Gary Loveman did a statistical study some years ago that proved that slot players, not whales, make up the majority of casino profits. Loveman also began toying with the idea of more entertainment opportunities in Las Vegas when he became CEO of Caesars Entertainment Corporation (CEC), the conglomerate that owns Caesars Palace and a bunch of other casinos in Las Vegas and other places. Hence the High Roller observation wheel and related shopping/dining area.
• Las Vegas does not promote gaming nearly as much as it used to, and what used to be the "extras" to lead folks into the casinos (shows, clubs, pools, etc.) are now becoming more of the primary reason to visit. 
• Younger folks make up a bigger percentage of the Vegas pie, and they want to party and hang out first, then maybe spend a few minutes in the casino until their dinner reservation is ready.

Throw all this and more together and what do you get? Lower gaming revenues and fewer people spending money in the casino. So is gambling dead? Nah. It's just sitting in the corner, waiting for the right casino execs to figure out how to make the most of it. Here are some thoughts:

• With better promotion, gaming could skyrocket in Las Vegas. The troubles in Macau mean that more high-rollers could come to Vegas, which means more revenue. But for the rest of us, who don't spend $10k per hand on baccarat, casino execs could dole out better coupons, better stay/play packages, and a better overall gaming experience. Which leads me to…
• Better games/rules. Right now, the rules stink in most casinos, and we notice. We are much more savvy consumers, and we can tell the difference between full pay VP and lousy VP, between 3-2 Blackjack and 6-5 punch-me-in-the-gut Blackjack. Make the rules better, and you will draw in more customers, and you will make more money because the house still wins.
• Better service. I love playing games where the dealers are fun and I don't have to switch tables. I love when drink service is faster than my Corvette and even more attractive. I love when my chair is not crammed next to someone else's and I have room to get up from my seat when nature calls (because the drink service has been so good). These are not difficult things to accomplish, but they are becoming rare. They make a world of difference to players. Easy win for the casino if they have the smarts to do it right.

People want to gamble. If you look at the national statistics on gaming revenue, it continues to increase year-over-year. The idea that "younger visitors from California don't gamble" is only true if Las Vegas makes it true. So, I'm hoping that Las Vegas finds inventive ways to draw more of us punters into the fold.

Viva,
Mike

Can You Really Trust Reviews?

Amazon's recent lawsuit shows that fake reviews are prevalent, and you can't always trust what you read. Fake reviews can come in different forms. Some are used to boost products, so a company gets a lot of 5 stars from people who don't own the product and have never used it. Some are used to make the competition look bad, so people badmouth a service or product and give it a low score, discouraging people to buy.

It's difficult to tell the fake reviews from the real ones, which makes purchasing an item more difficult. Some experts recommend that you ignore the 5 star and 1 star reviews and look at the ones in between. But what if a product is really great, and the majority of reviews are 5 stars? Does that mean that they are fake? What portion of them are real? How can you tell? You can't.

So you have to take reviews with a grain of salt. You can't quickly assess a product or service strictly by the number of good or bad reviews. You have to be a much more savvy consumer and do a bunch of research, especially if you are buying something expensive.

Which leads me to reviews of Las Vegas. Many so-called experts will review hotels, restaurants, shows, etc. What makes their opinions more valid than yours? Even if the reviews you are reading are from a knowledgable, seasoned Vegas veteran, you still have to keep a very open mind when reading them. You never really know if the reviewer had either a bad day or an unusually good experience for no good reason. When you are spending a lot of money on a vacation, you want to be sure you're going to get your money's worth and have a great time.

One of the major premises of my book is that reviews are too subjective, so I put the tools that you need in your hands to make decisions. Now I don't mind telling you what I like, but I make sure that you understand that it is my opinion. My 20 years of experience is just that - mine. You have to make sure that you understand all the things that make your experience something special.

Viva,
Mike

Of Taxis and Ride Share Programs

One of the biggest hubbubs in Las Vegas these days is the Senate Bill 439, which will determine the fate of ride share programs (such as Uber and Lyft) in Nevada. The argument basically comes down to jobs and safety.

If you are a taxi driver in Las Vegas, your point is that Uber and friends will substantially ruin the taxi cab market in Las Vegas, thus putting lots of folks out of work. You also claim that Uber does not adhere to the same safety standards as the Nevada Taxicab Authority.

If you are Uber or other similar ride share companies, you claim that the system has worked in other cities, that it's safe (background checks, monitoring, etc.) and that an open market is good for consumers.

Is there room for both in the Las Vegas market? Perhaps. But here's the deal. When a new competitor threatens the existing status quo, then there's going to be a market shift. Taxi cab drivers can argue all they want against Uber, but eventually ride sharing is going to come to Las Vegas. Taxis have to offer something more to their customers. They've noticed that visitors want more convenience and better service, so the Nevada Taxicab Authority approved Ride Genie, which is basically an app that hails a cab and adds $3 to the ride. But to me, that's not the answer.

Taxis are already expensive, which is why I rent a car when I'm in Las Vegas. In Las Vegas, the base rate for a ride is $3.30, which is higher than Los Angeles ($2.85) and New York City ($2.50). Taxis have to  lower their prices and provide better service to Strip, off-Strip and downtown locations. That's a tough agenda, considering that taxi cab drivers don't make a lot of money. And, according to Forbes, taxi driver was the 4th worst job in the US in 2014. A lot of that has to do with the lack of projected growth due to... you guessed it, increased ride share programs.

So I don't envy taxi cab drivers in Las Vegas. Unless there are more creative ways to making it work, they may be a dying breed. Fighting ride share is a tough battle, so they will have to think of different ways to compete for Las Vegas customers.


What are your thoughts? How do you like to get around in Las Vegas? What do you think of taxis, public transportation, the monorail, and the potential of ride share programs in the city? I'd love to hear your thoughts.

Viva,
Mike

What's Your Vegas Playlist?

Hi Vegas fans,
Last week I wrote about my favorite Vegas movies. This week, I'm thinking about music. I sometimes create a special playlist on my phone for Vegas trips. Some trips have included alt-rock anthems that I wanted as pump-up songs as I drove down the Strip or travel songs that I like to listen to as soon as I've settled into my seat on the plane.

Past trips have also included some Vegas-themed music, including Sheryl Crow ("Leaving Las Vegas"), Drive-By-Truckers ("Check Out Time in Vegas") and, of course, Elvis ("Viva Las Vegas").

This trip, I'm going to buy a bunch of songs that I don't have on my phone yet, mostly with "Vegas" in the title. Here's what I'm thinking:

• Frank Sinatra - Luck be a Lady
• Sara Bareilles - Vegas
• Katy Perry - Waking Up in Vegas
• Tennis - Vegas
• Semi Precious Weapons - Vegas
• David Gray - Snow in Vegas
• Brandon Flowers - Welcome to Fabulous Las Vegas
• Ray Charles - Blackjack

That's all I've come up with so far. Every trip needs theme music, whether it's a guy's get-away, a gal's weekend, a family vacation, or a romantic honeymoon. Think about the music on your favorite device. Is it Vegas ready? What is your ultimate Vegas playlist?

Viva,
Mike

Vegas Movies

There are a ton of movies about Las Vegas and filmed in Las Vegas. Some are great, and some just plain stink. I wanted to mention a few of my faves here and also to say that a great way to get geared up for your next trip is to watch a movie about Sin City.

In no particular order:

• Ocean's 11 and Ocean's 13: By Ocean's 11 I mean the remake with George Clooney, Brad Pitt, Julia Roberts, Don Cheadle, etc. The original with the Rat Pack is good, but this is one of the few times I like the remake better! These are both really fun movies about a bunch of folks who want to steal a great deal of money from casinos. Complete fiction, and they take a lot of liberties, but you have to lose yourself in them and put away your "that could never happen!" hat. I could watch these two movies over and over and over…
  
• Viva Las Vegas: Elvis, cars, Ann Margaret and Las Vegas. What else could you ask for? There's singing, dancing, gambling, cars that turn over and explode (and no one seems to care) and more. Plus you get to see what Fremont Street looked like in 1964.
  
• The Hangover: Ok, it's immature. It's sophomoric. It's moronic. And it's really, really funny. I say "ouch!" a lot during this move, given what happens to the cast of characters, and it has all of the elements of a disastrous Vegas weekend. You'll see costumed characters on the Strip and Downtown dress like Alan (Zach Galifianakis) with baby Carlos from this movie.
  
• Casino: Sometimes, gambling is a good thing. Like when you hit your point in craps or you get a blackjack or hit a jackpot on the slots. Sometimes, it's a bad thing. Like when you get your head squeezed in a vice or your hand beaten with a hammer. Casino highlight the bad things and is loosely based on the story of Frank "Lefty" Rosenthal, his wife (Geri), Tony "The Ant" Spilotro, and the Stardust hotel.
  
• Vegas Vacation: My luck at the blackjack table is almost as bad as Chevy Chase's, but I bet in smaller quantities so it's not as painful. My favorite scene is when Audry (played by Marisol Nichols) is hanging out with her cousin Vicki (Shae D'lyn) and friends in the Neon Museum's Boneyard. When Audry finally starts letting loose and enjoying herself by dancing on top of one of the neon signs, Vicki's friends says "She's going to break a lot of hearts" to which Vicki replies, "She's gonna break something."

Honorable Mention:

• Bugsy
• Rain Man
• 3000 Miles to Graceland
• 21
• Last Vegas

What are you favorites? 
Viva,
Mike

Stratosphere Wants Us to Take Back Vegas!

Kudos, Stratosphere!

I love your new campaign. It's a little risky because you may alienate people with lots of money, but I think it makes an important statement. One of the things I have always loved about Las Vegas is that whether you are a shmo or a super-important celebrity, there has always been a place for you. However, there are fewer and fewer places that cater to the grinds, the low rollers, the average Joe and Jane. It doesn't have to be that way.

There is no reason that properties can create a fun, relaxed atmosphere while still promoting high-end merchandise for those who can afford it. Treasure Island (TI) is a great example of this. TI is mid-strip and you can see the beautiful Mystere show or catch bikini bull riding at Gillies. The casino is small but contains many lower-minimum tables and machines; it is also very clean and appealing to everyone. Restaurants range from the posh Phil's Italian Steakhouse to the pretty simple Señor Frog's Mexican restaurant and bar. Balance - it's a good thing.

The Strat has always been more of a joint for the low roller. Perhaps being on the very northern boundary of the Strip (some say it's not a Strip property at all… but it's close) has lead to its complex of not being the Wynn or Bellagio. Or perhaps they just don't care to be a fancy-pants place. In any event, I love visiting the Strat and spending a few dollars in their casino, sports book, and moderate restaurants. I've stayed there many times, and the rooms aren't spectacular, but heck, at their prices you don't expect them to be. 

The Strat borders on a neighborhood that you wouldn't write home to momma about, but I've never had a problem. Like anywhere in Las Vegas (or any major city), you should know where you are going, you have to be aware of your surroundings, and you shouldn't walk around alone late at night.

One way the Strat could improve on its Take Back Vegas program is to reduce or remove the resort fees. These are getting obscene in Las Vegas, and while the Strat's is not as bad as mid-Strip properties, it's still around $18, which is too much.

Aside from that, I love the Strat. It is not pretentious, which is nice considering some of the trends in Vegas.

Viva,

Mike

Au Revoir, Riviera

Forget for a moment all that you know or don't know about Riviera Las Vegas. Forget the punch lines, the dank casino and the dwindling crowds, the maze to get from point A to point B. Forget the butt statue.

Forget its history. Forget the fact that it was classic Vegas even before there was such a thing. Forget that it opened in 1955 and will close in May, 60 years after its debut. Forget the facade that was added in the 1980s, which most people hate. Just forget all that stuff for a moment and bare with me.

We all know that nothing is permanent in Las Vegas. Landmarks tumble, properties change hands to new corporations, and your favorite show moves from the Strip to Downtown back to the Strip overnight, then it goes dark for good. This is just the nature of Las Vegas. You get used to it. It reminds you that, like the weather in most places other than southern Nevada or California, change is constant, and there's not much you can do about it. Next year, I'll be waxing poetic over how the new Las Vegas Convention and Visitors Authority building in its place is so cool. Probably.

But I'd like to take a step back and just remember for a moment. Ah, the Riv and the Stardust (also gone) were my first memories of Las Vegas 23 years ago. The Riv was the first hotel my buddy Steve and I stayed at and where we had our first gambling experiences.

I recall sitting down at my first blackjack table, a nervous young man, barely out of college. I had read books about how to win at blackjack, how to pick the best tables, and so on. But in my haste I sat down at a game where the dealer pitched cards to players instead of dealing from a shoe. I had very little idea what I was doing, and it showed. After a few hands, I got up and left to find a table with a shoe, where all I had to do was bet. Back then, we gambled at $2 tables and ate like kings.

The Strip seemed bigger than life. We didn't have a rental car that trip, so we walked everywhere. In July, no less.  It didn't matter. We were young with very little responsibilities or worries at that time. No mortgages. No big car payments. No debt. In fact, I used my credit card for the very first time on that trip.

Fast forward. I've stayed and played in many places in Las Vegas, and they all have something unique, some story to tell. I'll miss the Riv, just like I miss the Stardust. Not for the inexpensive food or low-roller tables. Not for the pool (which is huge!) or the sports book. Not for the butt statue (although like everyone else, I had to put my hand on it). I'll just simply miss the fun that I had while I was there.

Viva,
Mike