Las Vegas Strip can blame high prices, fees for sales drop

The Las Vegas Strip has become too expensive for mid-tier gamblers who have lots of other lower-prices options. Even off-the-Strip properties have become enticing when Strip resorts offer Starbucks grand lattes for $12.

Yes, mid-tier gamblers get rooms for free, but that's hardly the biggest cost when it comes to visiting Las Vegas. If you (or I) want to remain a Vegas loyalist, there are ways to do it as, aside from during the biggest events, there's always a deal in Las Vegas.

If you want to stay in a third-tier property like Circus Circus, The Strat, or Holiday Inn without a casino, deals are there. Off-Strip casinos like the Palace properties, and other similar operators may offer low room rates, food credits, and no resort fees.

The bigger operators, Caesar’s Entertainment, Harrah’s, and Wynn Resorts might offer some added free play, slightly better offers for bigger gamblers, and even food credits, but they have not looked at their overall pricing problems.

That's not enough, and it's time for Las Vegas Strip to face that its biggest operators have pushed non-room prices too high.

You generally have to pay extra for anything other than being in the pool (like chairs, cabanas, and more.

Image source: Daniel Kline/TheStreet

Why I'm not visiting Las Vegas

I used to be a frequent, like at least eight times here Las Vegas Strip gambler. It no longer makes any sense for me to do that because the cost of even a “free”’trip has gone up so much.

The problem is now that even a free room in Vegas cannot even vaguely compare to taking a cruise, and it might be more expensive than visiting a casino on a tropical island.

First, I live in Florida, so getting to the cruise port costs me almost nothing although parking can be about $150 a week. I'd still have to park, though, if I flew from the airport to Las Vegas.

On a cruise, I'm paying taxes and port fees (usually about $200 for a 7-night cruise per person). I'm usually traveling alone, but if my wife or son came along, that number would double, but that's the only cost I would have to pay.

A free cruise not only covers my room, but also as many meals as I want across multiple restaurants. I can watch the shows, use the pools, and hear all sorts of live music without spending a dime.

Sure, I'd be drinking water and coffee only more or less, but I get free drinks in the casino on many cruise lines and Royal Caribbean gives me five drink coupons every day due to mu loyalty tier.

It's really a free (aside from the expected gambling) trip while a Las Vegas visit is not even close to that.

A free cruise versus a free Las Vegas Strip room

Las Vegas Strip room:

Free room, but may have to pay resort fees depending upon my loyalty tier.
Maybe a food voucher worth up to $100, but usually not.
Promotions like bonus free play in the casino.

Free cruise:

Free cabin, but have to pay taxes and port fees (about $200 per person for a 7-night cruise)
Free meals: Eat from the buffet, the main dining room and other included restaurants.
Free production shows and lots of live music, comedy, and other entertainment included.
Free resort amenities: All the pools, water slides, and other amenities are included (with exceptions).

Las Vegas Strip has not kept up with value

Las Vegas Strip revenue has dropped and you can blame the city's top casino operators for exhibiting two of Sin City's sins, pride and greed.

“For a fourth consecutive month, general gaming revenue (GGR) on the Las Vegas Strip was down year-over-year. Strip casinos won just $713.7 million, a nearly 4% decline from May 2024. Last month marked the lowest Strip tally since May 2021 amid the pandemic recovery,” Casino.org reported.

Slots were most responsible for the downturn, as the machines kept $381.2 million of players’ bets, down 5.4% from a year ago.
Despite slightly loosening the machines, Strip casino slots took considerably fewer bets to drive net win down.
Tables also didn’t fare well, with baccarat leading the losses. The player-banker game, popular with high rollers and Asian clientele, saw GGR slide 10% to $109.9 million.
Roulette win slowed 29% to $26.6 million
Blackjack was down 4% to $89.4 million.

Las Vegas has not adjusted its prices accordingly given the other options gamblers have, including regional Caesars Entertainment and MGM Resorts International (MGM) offers.

I am regularly offered airfare to Biloxi, Atlantic City, and other regional casino hubs controlled by Caesars and MGM with better food and gaming credits than what their Strip counterparts offer.

“More and more visitors complain openly about hidden charges such as resort fees or parking charges,” TravelMole reported. “Some tourists wonder how it is possible for example to pay US$20 for a bottle of water. General complaints point to excessive drink and food prices in casinos and entertainment venues. They often exceed prices in cities like New York or LA.

Such policies,” create the perception that Las Vegas is no longer a good-value destination,” the site added.