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These must be the 'guests' that 'go dark after 2-3 years', according to the article. Churn must be interesting for casinos, there has to be a continual search
by Theodores 8y ago
These must be the 'guests' that 'go dark after 2-3 years', according to the article.
Churn must be interesting for casinos, there has to be a continual search for new 'guests' that haven't already been fully fleeced. The out of this world hospitality is probably the best advertising they have.
Although gambling is as old as money and can be found all over the world, the phenomenon of Las Vegas is extremely American. In the rest of the world there is 'pecking order' with a hierarchy where everyone knows their place, whether they like it or not. This is useful as there is no pressure to 'become king' as that position is not open to you. You can be relatively happy with your status even if you are 'just' a school dinner lady. Furthermore you can gamble on a regular basis to improve your situation (in your dreams). There are the 'turf accountants' on the High Street or at the actual races. Sports betting also allows for the gambling interest to be masked, you can pretend that you 'love' horses, football or dogs.
Meanwhile, in the land of the free, where the dollar is king, there is some pressure to show you have made it, that you are eligible for the top table. With this pressure comes status anxiety, so you 'have' to make it or die trying. Since you can't just pop in to the 'turf accountant' to waste some money on horses (America lacks bookies), you have to save up and go to Vegas, to live it up whilst you are there. Interesting 'monopoly' Vegas has going on there.
- goalieca 8y agoI have a different view of the United States as a foreigner. It seems that people have accepted the lack of upward mobility quite well.
- sh87 8y agoAs a foreigner in US, I have observed some interesting lifestyle choices at play. Most popular media propagates "impulsive", "care-free" choices as the way to "live your life". Add an abundance of options to spend money you don't have (credit cards, personal loans, financing options, Lease Vs. Buy, subscription models, etc.) and you have yourself an ecosystem that is highly likely to overspend, run out of money and fall straight into debt. Throw in social media into the mix and you have cheap, scalable, autonomous marketing campaign that pulls in the masses.
- cco 8y agoI don't think you've been to or are aware of Macau. What you are describing is certainly at play in America but it's by no means exclusive of or born in that country.
- chrischen 8y agoThe article didn't explicitly say this, but it was heavily implied that many of the guests were Chinese or East Asian (99 ranch, male enhancement fungus, superstitious rituals). Not to mention it's characteristic of the nouveau rich of China that have no idea how to properly invest their money.