Vital Vegas is a blogger on Twitter. Vital Vegas is owned and founded by Scott Roeben. Roeben moved to Vegas about 20 years ago from Hollywood. He’s a very good writer who studied at the University of Hawaii. Scott wrote for the Screenwriters Guild’s website in Hollywood. His claim to fame is he’s an “Internet and Social Media Specialist.” I would agree he’s an excellent writer. He’s also really good at social media. However, I don’t get the sense that Scott is guru on updated updated hypertext transfer protocols, internet communication protocols or proxy servers. But what do I know? Maybe he is.
Today Scott tweeted:
Scott says that Las Vegas is seeing 4x the number of players requesting credit but he doesn’t know why. He says the old time casino industry experts haven’t got a clue either.
Most likely, the reason gamblers are seeking more credit is because they do not have cash. This would be another indicator why the Jedi feel that Las Vegas’ recovery is wide but not very deep.
The Jedi made a list of 8 reasons why we feel Las Vegas is struggling. Resorts World has been poaching business from other casinos. Earlier this week, Resorts World stole several VIP Hosts from Wynn. Then they gave the hosts the ability to lure the clients with higher than normal rebates. Typically, casinos would offer rebates anywhere from 10% to 20%. Resorts World upped the offer to 25%. I imagine the other casinos have responded accordingly.
Casinos are competing to lure high rollers to Las Vegas
The fact that Las Vegas Casinos are giving players 4 times the amount of credit prior to the pandemic could be an indication that Las Vegas is struggling to find gamblers with cash. The hosts are luring gamblers by offering looser credit requirements, higher credit limits, and a 25% rebate on actual losses for high rollers. This would allow gamblers to gamble more money. As for the casinos, they are competing with Resorts World who is forcing all the other players to follow suit. At the end of the day, this means less outside money flowing in to spread amongst the other casinos in Las Vegas.