Las Vegas Casinos raise Prices with Improving Economy

Las Vegas is looking to take advantage of an improved U.S. economy, now raising hotel prices, adding resort fees and reducing comps.

According to the Las Vegas Convention and Visitors Authority, the average Vegas hotel room was only $93 in 2009, mainly because of the “Great Recession” that plagued the country. That recession is decidedly now over, with average hotel prices jumping up to $117 in 2014. Compare this to the previous high of $109, which was set in 2008.

Aside from cashing in more on the actual rooms, Sin City is also collecting on resort fees too. Initially introduced in the late 2000s as a means of charging more for non-smoking, location or bed types, these fees are becoming a norm at many Vegas Strip casinos. For instance, MGM Resorts now levies a $30 charge to guarantee a hotel room with your individual preferences.

If you want to avoid these resort fees, some casino resorts that don’t charge them include Boyd Gaming-owned downtown properties, Four Queens, M Resort and the Cannery. Those wanting to stay on the Strip and avoid these fees are limited to Casino Royale.

Don’t expect to get as good of comps when you visit Sin City either. The Venetian dropped its hourly poker comps from $2 to $1 an hour, while completing ridding earned rewards for players who don’t play for 365 straight days. Grazie is another casino that’s fallen in line with this, now negating comp points for anybody who doesn’t play for 12 straight months. The Wynn’s poker room is yet one more example as they’ve dropped comp rates from $2 to $1.50.

Caesars Entertainment is also taking a new direction, refusing to give completely free comped rooms to non-Diamond-tier players; those not in the Diamond status must pay a $25 resort fee for any comped rooms that they win.

One might think that all these negative changes would result in lower tourism numbers for America’s gambling capital. However, the truth is that tourism numbers are at an all-time high. A record of 41.1 million visitors were reported in 2014, which beats the previous top mark of 39.7 million visitors in 2012.

Based on all of the pricey changes in Vegas, it looks like Sin City is banking on more revenue from the higher prices without a subsequent tourism drop. And if the U.S. economy stays like it is, this may very well be a good gamble.