This was the question I asked myself when I read the recent article regarding the change in pricing coming from the Encore execs.
Now correct me if I am wrong. Typically people that make high-end six figure salaries don’t just land a job like that because they are stupid. This is why getting an education is so important kids. Here the educational lesson, however, is that you don’t need to be book smart and memorize a bunch of useless shit anymore. What you need to have is a little common sense and know about the laws of supply and demand. Knowing both, it comes as no surprise that Encore jacked up the prices for parking and table minimums to take advantage of all the people who are attracted to new shinny things and a good night of wasting your money with the hopes of winning it big. Myself included! I was one of those idiots who played at the 50 dollar minimum table for a piece of the action. Luckily I didn’t lose my shirt, but being an avid betting junky, I have seen things go sideways on many occasions. When that happens and I try to “shift” money around to justify the loss, I ask myself, “Why am I such an idiot?”
When I was there, I also noticed a bunch of 20 somethings walking through the billion dollar establishment smashed with their clothes all F’ ed up and their hair all disheveled like they got hit by the Encore shuttle. They couldn’t walk in a straight line to save their life. But what they could do is take an obnoxious amount of “Look at me, I’m cool” selfies in front of Popeye and every other landmark. More on what Popeye was thinking about all this in a later post. How did these kids get so hammered? It happened at the bar while drinking ridiculously overpriced bud lights and well vodva thinking it was greygoose(probably showing my age and the fact I don’t drink anymore) I will admit though, seeing a bunch of hammered people was actually the highlight of my night when I thought. “Wow, those people are mutilated!” It’s like watching a car wreck. You know you shouldn’t stare, but it’s hard not to rubber neck and wonder“what the heck happened?”
Back on topic. The reality is that these millionaires knew exactly what they were doing. Go in high(no pun intended) to exploit the novelty then when things drop off, lower prices to bring in a new wave of people willing to lose money. Not as much money, but money is money. Sounds like an economically sound plan, not a mistake!
The moral of the story is, “Don’t believe rich CEOs when they say, We were wrong about our predictions. There is no way in hell they thought Encore could sustain paid parking and $50 table minimums. They knew exactly what they were doing and you are a sheep to think otherwise.
A for effort Encore. F for honesty.
P.S. I’ll be back to visit the $15 tables.