I thought the group would find this interesting.
http://tinyurl.com/dmhtkt
Atlantic City Comps Decline
bigdog_08108 wrote:
I thought the group would find this interesting.
http://tinyurl.com/dmhtkt
Thanks.
What I find "interesting" is the spin put on things. The headline is, "State's casinos cut back on comps". This would lead one to expect that the casino is giving out less as a % of play (which wouldn't be surprising).
Instead it turns out that while revenue (gross casino win) was down 7.6%, the article states that comps fell only by "near 5%, to $1.55 billion".
This is a decline in the dollar value of comps, not the comp rate. In having fallen slower than the casino win, there's room for a fair presumption that, overall, comps have actually increased modestly as a percent of player gaming theo.
Now that's a little perverse in terms of what some of us have witnessed, but that's how the numbers play. (It's conceivable that mid-tier slot players have seen offers strengthen as casino strive to get people in the door, while low-hold vp/table players and generally low-rated players generally see offers weaken.)
It'll be interesting to review 4th quarter AC casino reports (which detail comp allowances) when they're published.
- H.