Casino News

Las Vegas casinos launch special offers to combat downturn

2008-11-27 12:12:10

Casinos in Las Vegas are responding to the economic downturn by cutting prices in order to attract customers feeling the financial pinch.

According to Reuters, resorts such as the Mirage and New York-New York are offering rates of $60 a night for some of their four-star hotel rooms, down from approximately $200 at this time last year.

Parent company MGM Mirage is not the only operator changing up its pricing strategy either. There was a 20 percent reduction in average daily room rates across the city in September, the Las Vegas Convention and Visitors Authority revealed.

"Casino operators are going to have to be very creative in their approach," commented Michael French of PricewaterhouseCoopers. "[They] are going to make less money than in the past."

Other deals include Harrah's Entertainment's $100 credit offer to slot-machine-playing new members of its loyalty program and MGM Mirage's 20 percent sale on merchandise for Thanksgiving.

In other news related to MGM Mirage, Terri Lanni - who announced that he was retiring as chief executive earlier this month - will also step down from the board of directors, Reuters reports.