Venetian and Palazzo Cut Freebies

Where: 3355 Las Vegas Boulevard South [map], 89109

Last week, we were finally able to confirm rumors that comps from Palazzo and Venetian are no longer available to most of us.

On a quarterly conference call to discuss Las Vegas Sands earnings, Chairman and CEO Sheldon Adelson said the following:

"We've essentially cut all of our comps except our most highly-rated players. No more comped rooms. No food and beverage. No showroom credits. We're selling rooms. We see it's resulting in a substantial increase in cash income."

We consider ourselves medium rollers and haven't received a comp offer since we stayed at Venetian this summer for a slot tournament. First we thought we may not have gambled enough (not likely) to receive any more offers, then we began to see grumblings on various blogs and message boards about others feeling the pinch.

This is a curious move as Sands Corp. reports that 72% of their worldwide revenues come from gaming.

So, where do we go from here? Wherever we want. This doesn't change our plans to eat at the restaurants or visit for conventions that will be housed at Venetian. At the same time, this does tell us we don't need to visit specifically to gamble.

Since we don't gamble just to get comps nothing will change for us. We'll visit Venetian and Palazzo as we normally would. Comps are incentive for us to stay at a property and since we've received less incentives to stay and play over the past six months, we'll likely continue to stay elsewhere.

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