- The Lucky Dragon has been open for three months but is already opening another VIP room
- Rolling chips innovation is proving popular with Chinese high rollers
After just three months of operation, a small Vegas casino is making the city’s gaming industry sit up and take note.
The Lucky Dragon is an Asian-themed casino based north of the Las Vegas strip, and, at 27,500 square feet with a little over 200 rooms, is small by Vegas standards. It’s been generating headlines in the casino industry, though, most notably on the VitalVegas.com website which recently issued a glowing report on the Lucky Dragon.
The main focus of the attention, and the secret to the Lucky Dragon’s success is its innovative new VIP program, which some experts think could exert a significant influence on how other Vegas casinos treat VIPs and reshape this aspect of casino business.
Of course, VIP guests have always been crucial to the profitability of a casino, and consequently, most casinos offer perks for high rollers. Traditionally, a senior executive is responsible for watching these customers, and, based on how much they bet, and how often they pay, offering them discounts or compensation.
This subjective process was not always satisfactory to the casino or its VIPs, so casinos in Macau developed a technique known as rolling chips. VIPs are initially given ‘dead chips’ which are progressively replaced with ‘new chips’ every time the high roller wins. This practice makes it possible to produce an accurate picture of each player’s success rate and the volume of their play, leading to a more objective apportioning of benefits and rewards.
The technique has proven to be popular with VIPs and, according to Lucky Dragon COO Dave Jacoby, it is high roller business that is driving the casino’s success. The operation has also benefited from fortuitous timing. An anti-corruption drive in China has driven many Chinese high rollers to Vegas, and the Lucky Dragon is perfectly placed to cash in.
It would seem obvious to many that casino high rollers would react well to being treated fairly.
No one likes the feeling of missing out, and where casino comps and other perks are concerned, this could be a serious matter of contention for some high-stakes players.
The rolling chips system seems fair and transparent, and it is clearly going down well with the target Chinese clientele.
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