Home » VT News » Venetian, Palazzo Cuts All Comps

Venetian, Palazzo Cuts All Comps

By Chuckmonster on Thursday, 3rd February 2011 4:47pm
  » filed under Las Vegas  comments: 30


Las Vegas Sands honcho Sheldon Adelson wins VT's Honest Guy of the Month award for February 2010 for telling us to not bother carrying around that Grazie Card anymore:

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.


Quote from The Sun.

Tagged: venetian   palazzo   comp clubs   club grazie   


Comments & Discussion:

Makes me glad that I don't play there or a member of Grazie, as right about now, I'd be pretty pissed if I was a regular visitor to their casinos and wasn't getting squat for my play. Sheldon might as well convert the bulk of the Venetian and Palazzo into convention space.....

Reaffirms my decision to skip the Venelazzo on my trip last month. If Sheldon doesn't want my pennies, I won't give 'em to him.

The thing is, the Venetian doesn't really attract the big comp crowd to begin with. They are able to sell their rooms, for whatever strange reason, at the same or higher prices than Wynn. Why give away something you can charge crazy rates for?

They do have quite good poker rates for rooms during the Deep Stack tournaments and they treat poker players well. It is truly an enigma.

Grazie, but no grazie.

I keep sadly looking at my empty Grazie box...sigh.....

makes sense...I haven't recieved a comp from them in months. bastards.

hopefully Wynn doesn't copycat. I really enjoyed my last stay at the pizo. :(

I've never really put any of my play into either one, but this cements the fact that I (and other knowledgeable players) will not. Perhaps he can continue to do well without such play, but seems like there is a growing amount of competition for both of them (Cosmo, Wynn's properties, Mandarin). I don't mind just looking at the place and spending my money elsewhere...I'm quite confident than some casino in Vegas will enjoy giving me small comps for the money I dump into their casino.

Now if they'd put some of the increased income into repairing the chipped room furniture and cracked mirrors.

Let's hope this doesn't start a trend. I typically have 2 or 3 comped stays at Venelazzo each year, but haven't received an offer in 6 months. Adelson has always targeted the convention business to fill rooms at premium prices. With LVS' Macau and Singapore success, the Vegas casino component has become such a small component that he can get away with this. I'm not sure whether any of the other operators could do this; perhaps Wynn but certainly not Caesars.

I guess they were waiting til they won the Trippie...

Wow, Mlife is looking pretty damn good right about now.

I give props to Adelson for having the cojones to tell it like it is. Whether or not this approach would work for all casinos is another matter, but if he's able to increase profits by selling rooms and meals instead of comping them, more power to him.

OK..I give Shel a couple of points (uncomped) for honesty. I do have an idea. Why not use the damaged rooms for comp stays. Guests do notice chipped tile, melting grout, broken mirrors, rings on the tables etc...
Who wants to pay full price for that?

Wow, That kind of "our customers are the tops" attitude will have everyone fighting to get through the door to spend their money, wont it?


did you see my review of the Palazzo? 'twas a comp.

I have kind of like the Venetian but wouldnt consider staying there and thought that Palazzo was trying to hard to look great. Adelson may have a point but does it really matter? People are more likely to stay at one of the Wynn hotels or save cash and stay at TI.

As discussed on Twitter.

Just a quick note concerning the ongoing treatment by our friends at LVS.

Got a call from the Venetian to say that our complementary rooms that we had booked in September were no longer available due to the demand for the weekend. They informed us that we could pay casino rates totalling over $500 and they would consider some freebee if play warranted. WTF!!

My wife explained that we had booked several months ago and they said in the small print that they were within their rights to do this. They then sent a confirmation of the reservation which is now version #7 of the same confirmation.

This is blackmail and extortion and outrageous treatment. We have flights and shuttles and dinner reservations and under normal circumstances our goose is cooked.

What we also have is a complimentary three night reservation at the Hilton for the same time period for their Super Bowl party. Hah!! Screw you Grazie.

She had the pleasure of calling back to cancel and spoke to the shift manager and indicated that this was horrific treatment and that we had made alternative arrangements. He was shocked that we were able to do so as their extortion treatment had failed. "Does this mean that we won't be seeing you this weekend?" We cancelled our reservation at the steakhouse and reconfirmed our Hilton rooms.

Unfortunately, we do have to make a visit there as I have over $400 in winning football under bets to cash (BIlls and Browns) and Moe has a Groupon coupon at a shop there. It is such a pain to get to from the Hilton as the Monorail is useless.

We also have Gold status (for what that is worth) so we wanted to visit the Gold Lounge in the Venetian.

I had heard the the Grazie club was doing strange things but this takes the cake.

Don't forget, Sheldon was saying that to people who get boners from that kind of talk, so he may have been exaggerating a bit.

That said, Dshort2727's experience is unforgivable. It's their perogative to change policies, but jeezus, make the changes moving forward, don't start yanking reservations. That's ugly.

That puts the Venetian one step closer to becomming a mall and a hotel.

That shows those big corporations are not concerned with the basics and principles of hospitality at all. I know money is the bottom line in any business, but to not care about their loyal customers and patrons is absurd. This put this corporation way bellow any motel 8! Shame on you, Las Vegas Sands...

hasnt wynn always been the most demanding in terms of giving out comps?

I can't say I'm surprised in my opinion it's similar to the business model they ran prior to the recession, although it seems to be tightened up a bit more. What happened to Dshort is unacceptable in my opinion, but in relation to no more low roller comps, I can understand the Sands here based on their previous model. In my opinion they actually took advantage of that during the recession as they wound up having something to give those they normally wouldn't and kept occupancy up by doing so. I always thought MGM could have better utilized their superior product to CET's props in the same way by adapting CET's business model during that time and while they loosened theirs, I don't think they did so enough. They also would have needed to drive loyalty differently then Sands, since Sands has always relied on the convention business to fill rooms.

I don't think you'll see this beyond Sands or Wynn for the most part, and I think MGM will continue to tighten a bit, but CET's model almost requires they continue to offer free rooms to generate revenue, so as long as that's there, I think you'll see options. If Sands revenue plummets though, I'd expect them to move back to a minimal style comp system they had pre-recession, but it's probably going to be 3 quarters or so before that happens.

Remember that Sheldon had to reach deep into his own pockets to keep things afloat a few months ago..and this his property, given the success of 'Jersey Boys" and "Blue Man Group" is maybe back on the rebound..but as someone who just got a Grazie card and put some points on it a couple of months ago, what's the incentive to go back now?

Dang, I’m regretting booking a room at Palazzo in March. I am a grazie member and I received a slightly discounted room rate…I hope they don’t yank my offer rate and make me pay full price.
I have received comped and discounted room rates in the past but I think it was the minimum they offered to the lowest rated grazie members. I’ve never been comped food and beverage or shows or had credits applied to my bill at check out since my level of play is so low, but at least the potential was there if I ever hit a hot streak or got to drunk and started betting like an idiot and playing above my pay grade. Technically, this new policy really won’t affect me much, except for the occasional comped room in the summer or discounted room rate offers, but they really killed the dream that keeps me coming to Vegas…the dream that anything can happen on any given trip and if I play my cards just right they might throw some comps my way. Now that the dream has been killed, what is the point of staying at Venetian/Palazzo? I’m officially searching for a new place to stay in March.

I am not a hugh player but I always got free room for playing a budget of $500 a day plus a lot of what ever I won as I do not cash out every little hit but when I called for a room for May I was told no free rooms and was quoted a price from $199 to $399 a night. I booked 5 nights free at Paris in a Red Luxury room and I am looking at Luxor for 3 nights for $200 plus the nasty resort fee. Farewell Venetian I don't need you!

I hope all gamblers will do as I have and let everyone they know that goes to Las Vegas to
stop giving Venetian/Palazzo any business. I think if we do they will see a dramatic decrease in their Las Vegas business. I know that most of there business comes from Asia now but if Vegas tanks then this fool hardy plan will fail. I think Sheldon Adelson has forgotten where his bread is butter and things he doesn't really need Vegas anymore.

Paging Cesars, MGM, Wynn, Coso, Trop, etc etc etc.....big business opportunity waiting for you by pimping your player comps. Who takes the first swing?

Dear Sheldon,

Only a fool would pay Wynn rates to stay at Venetian/Palazzo, and only a fool would gamble there without comps. Good luck finding enough fools to fill your hotel.

An ex-customer

I believe that The Venetian has now relaxed their policy or perhaps many individuals don't quite gamble as much as they think they do. I read that The Venetian had virtually shut down their comps and was concerned because it is absolutely our favorite hotel in Vegas. However, it has been at least 4 years since we have been in Vegas, as we have been busy paying off our aviation companies. To be honest, we really are NOT huge gamblers. Together we probably spend at most $5000 daily and so many times we have returned from Vegas actually coming out ahead. There are even many days that I have been very busy at Canyon Ranch Spa or shopping or touring the sights where I have hardly gambled at all. Thank God that John was gambling during those times. I know for a fact that we have never LOST $5000 daily. We do also patronize the restaurants and Grande Canal Shoppes and Spa. This morning I spoke with the Casino Host to determine if we still qualified for any comps. I honestly didn't believe we would as it isn't like we gamble $50,000+. She took a look at our record from years ago and promptly comped us for 3 nights. We are already booked and definitely appreciate our relationship with The Venetian. We have never had a bad experience and have taken several family members with us during various times. I love The Venetian and hope that their policy always remains like this, as it kind of "justifies" the gambling to us.

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