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MGM Mirage Makes Credit Lines Affordable Again

By MikeE on Sunday, 20th September 2009 10:26pm
  » filed under Las Vegas  comments: 6


Mid-level players, rejoice!

Those of us that brought a few grand to play with were always faced with a bankroll-balancing act. Should I just take cash? 25 hundies puts a significantly uncomfortable bulge in the pocket, causes a premature patina on the Vuitton wallet, and most importantly, is noticeable enough to anyone with bad intentions as you walk passed the Hawaiian Marketplace, or worse yet, Carnival Court on a Saturday night.

Traveler's checks? That was my method for some time, but the inconvenience of going to an American Express travel office before every trip to get them fee-free was tiring.

So our choices were pretty much narrowed down to credit or front money. Personally, I was never a fan of wiring money to an establishment that will eventually win it all from me anyway and cocky casinos on the strip were asking for a $10,000 minimum credit line. Ten grand? Having access to those reserves when you're bankrolling a quarter of that can be mighty dangerous.

But now in what's surely a sign of the times, any electronic credit form you open from MGM Mirage has the "Limit Requested" box already filled out for you at only $2500. Whether it's Excalibur or Aria, MGM Mirage will at last give us mid-rollers a way to rest assured that the only large sums we carry are those we just won from them.



Comments & Discussion:

The downloadable marker application at Excalibur is still set to $10,000 minimum.


Like anyone with $10K to gamble would be staying at Excalibur! Ha.

I'm curious as to how credit markers work. Do you have to be a high roller to get them or do you just have to have REALLY GOOD credit to get them? If you get, lets say, a $20,000 line of credit at the casino, sit there and gamble it all away and can't pay it back before you go back home do they let you make payments on it when you get back home? Or is it one of those "they'll send a loan shark to break your wrists and burn you with cigarettes" to get the money back??

Casino Credit is not like regular credit, and some casinos will not even check your regular credit report. By filling out the app, you give them permission to look at your balances in your bank accounts over the pastyfew months. They look at your average balances and decide how much to extend to you. When you sign for a marker, you area actually signing a check against your bank account. If you have not paid off your balance in 30 days (longer for good customers), They simply deposit the marker as a check, and if you don't have the funds in your account, you are considered to have written a bad check and the Las Vegas DA comes after you. Google Terrance Watanabe for a current court case against a high roller that didnt pay up.

I have gotten credit lines at a half-dozen properties. The default amount has always been $5000 unless you ask for more. I have always found they are more trouble than they are worth. They are only good for a specific property and I typically play at several properties each day. Your bank has to be open for the credit line to be approved. If you arrive/apply on Fri evening, it takes until Mon morning before they approve it. It can take awhile at the cashier's cage for them to retrieve the markers so you can pay them off.

Wire transfers don't really work either since they can cost upwards of $75 and take up to 3 days. Some casinos won't take transfers under $20k (Bellagio).

I feel the cash issue is a big problem in dire need of a solution. Try stuffing $10k in your pocket and not worrying about getting pickpocketed. I know several people who leave cash in safe deposit boxes at their favorite properties. I'm not sure how much they are charged for renting the boxes. I've seen numerous poker players with large bundles of cash. Also, some players travel with high denomination chips.

I never understood this. In Atlantic City the minimum credit line is $300 at the low end properties and $500 at the higher end properties.

Would parchedearth's suggestion work? Buy a couple banana or a few grapes on your way in? Hmm, hadn't though of that.

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