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Economy vs comps

Discussion in 'Comps' started by Wookie, Mar 24, 2016.

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  1. Wookie

    Wookie
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    i think comps could be a leading inverse indicator for the economy. I'm getting better than expected comp offers right now. Does that suggest something?
     
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  2. shifter

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    if anything it's much more likely to be a trailing indicator.

    they pumped up offers back in 2008-2010 well after everything crashed and they were hurting.

    they've generally started to cut back offers in the past year or two well after the economy rebounded and they were started to feel good.

    nothing that corporate suits do is leading. they are always the last to see and react to anything.
     
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  3. VEGASBJ

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    I have heard that most hosts are behind their projections for the year (so far). Must mean that either players are making less visits, or dropping less with each visit.

    That's why I personally think platforms like PGP are insane There are just not that many $50k players around, let alone players above that level, where you can just cut, cut, cut and not have the players realize that they are getting fucked, and not getting the "feel good" benefits of coming into town, dropping some coin, but at least getting a fair shake back in the comps / rebate dept.

    Piss off the players, and they will find somewhere else to go - whether it be another casino, their local casino, Indian casino, etc.
     
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  4. DannyOcean

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    So true. The exceptions to this end up flourishing. Yet the group-think and hesitation rules the day.
     
  5. shifter

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    shareholders aren't in the meetings. they don't make the decisions. and some of these companies are private.

    sorry to the 6 brilliant strategist around the world that I lumped them in with the rest of the worthless suits.
     
  6. Chicken Dinner

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    That's an interesting comment. I don't know if I agree. In this day and age of zero interest rates are shareholders really content to just sit for the long term or do they want the big score...? Its probably unanswerable. There are indisputably some brilliant strategists in high corporate levels. I mean, worker productivity and corporate profit just goes up and up while workers' share has stayed the same since 1970. There's a reason for that.
     
  7. Malibugolfer

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    It is much more a function of how well the corp controllers know or repect their business model.
    If one looks at Detroit changing (for whatever reasons) from companies run by car guys to one run by lawyers and accountants you get a wholly different product.
    The music business was also run by guys who had extensive involvement with artists and who loved music. The bean counters (and societal evolution)
    changed that too.
    Now Vegas has and is continuing to go far afield from Benny's "good food, good whiskey cheap, and a good gamble."
     
  8. Chicken Dinner

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    I think Shifter is right if his point is that some of these casinos are way too focused on the short term. Cutting comps so drastically leaves a bad feeling in people's mouths. Its one thing to know you are just a number its another to really feel the pinch. And to what... Folks don't like to be taken advantage of. And if X spending got me Y comps last year and I increase or keep constant spending but now I get Y minus 1 comps that doesn't sit well. All of a sudden three trips become two or two become one. I'm in Boston. One casino has already opened here. Two more online soon enough, including a Wynn...
     
  9. Chicken Dinner

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    Ahhh!!! Both were only saved by federal intervention! It can be argued that we are all better off for it but they both needed respectively, a bailout or aggressive federal copyright enforcement to survive. How does Vegas benefit in a world where Indian casinos are popping up all over and NJ is debating sport betting?
     
  10. Malibugolfer

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    Music bailouts?
    I am a free market proponent and do not think bailouts help nor are they advisable.
    GM's was as much for the benefit of union bosses and the need to save the pension funds.
    Regardless, gaming, music and auto industries are far, far changed from their original founding principles.
    I leave it to the public to determine whether that is good.
     

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