The idea is simple. Las Vegas Club lowers the hold percentage on a bank of slot machines by 40% (an example would be a 6% machine being lowered to 3.6%). They then post signs on the machines telling customers that those slots have been loosened.
The change has been successful so far, as the property has seen an increase in visitors and play. Most of the increase is by word of mouth too, as the property hasn't advertised except for signage.
I've wondered when a casino was going to try something like this. Usually when a property is struggling they do the opposite and make payouts worse for the customer, which eventually drives them away. This strategy looks to be having the opposite effect.
I've always thought that if a property offered low limit table games with fair odds (3:2 blackjack), full pay video poker and loose slots, that place would be crowded and successful. The house is going to win in the end so why not let the people play a little longer before losing their money?
Check out the full Las Vegas Club article at Vegas Seven.
Las Vegas Club loose slots ad:
