Part 7/11:
Reflecting on earlier days of Vegas—a time when a couple of thousand dollars spent at a casino would afford you significant complimentary benefits that added to the overall experience—today’s gambling landscape simply doesn’t cater to those same standards. The industry's evolving business model means that, while younger people might be enthusiastic participants, their expectations subtly differ from those of previous generations.
The Calculation of Value in Today’s Economy
One way to frame the evolution of Vegas is with a simple analogy regarding the quality of customer interaction: Would you rather sell something with a minimal profit to many or something offered at a hefty price to few? As the answer leans toward premium experiences, the trajectory of Las Vegas becomes clearer.