The Chip Board
Custom Search
   


The Chip Board Archive 05

Re: Why do casinos issue LEs?

From reading all the recent posts on this subject it seems to me that most casinos, have no financial interest in producing these chips. As has been mentioned a few times, the profit from the editions is negligable compaired to, as one person put it, one big bet at the tables. I know from shopping around for a set of poker chips that HC chips sell for about .65 ea. Figure with the number of chips a casino will order on a regular basis Paul-son gives the casino a better price. Say .50 . If they are producing a $5 chip in a 750 limited edition they would be making $4.50 per chip x 750 = $3,375 on a chip release. If they produce 1000 that, of course, would be $4,500. Chicken Feed?

I would guess that all the casinos are playing the PR and Marketing game with their chips. They may be figuring that if they cater to these collectables they will feed peoples appetite to, (read the following in a low whispering voice)"Come Back To Las Vegas." Each casino probably has a different strategy. Some produce limited numbers of these editions and usually have a reason. Major Holiday like Christmas, New Years, Halloween etc., Headline Acts like Blue Man Group, Penn and Teller, Sigfried and Roy, Danny Gans etc., or Special Events like poker tournements, dart Tournements, George Burns' 100th Birthday Party... They clearly are trying to promote something at their establishment, commemorate some event or special person and draw people in or reward patrons with some souveniers. There are other casinos that produce so many editions and release them in ways that they may just be trying to sell them and supplement their income with them. Just like they do souveniers in the gift shop. While a single limited edition of chips does not generate much to be worthwhile, if a casino produces as many editions as say the 4 Queens does, that may add up to a sizable amount. Add in the attention they get from collectors that go to get the chips and they may be doing fairly well with them.

The motivations expressed here may just be the original intentions. Some houses may actually still follow these strategies. However, it appears as though a lot of casinos are straying from the traditional motivations. Increasingly we are seeing chips being sold straight from the cage to people who are standing in line and are in and out. They are not playing in the casino, patronizing the show or restaurant or attraction that the chip is released for. Many of the holiday chips are not being released on the holiday. I believe one casino didn't actually release their Mothers Day chips till almost Fathers Day. The only benefit that I can possibly still see, that is consistant with some of the expected strategy, is that by selling to dealers and brokers the casinos are sending little advertisements out to potential visitors in other states who, as I said before, have an appetite for anything Vegas. If they feed that appetite you will just have to go back.

Messages In This Thread

A question for Mark Karoll
Re: Why do casinos issue LEs?
Re: Why do casinos issue LEs?
Re: Why do casinos issue LEs?
Re: Why do casinos issue LEs?
Re: Why do casinos issue LEs?
Re: Why do casinos issue LEs?
Re: Why do casinos William
Casino Chip Cost?
Re: Why do casinos William
Re: Why do casinos William
Re: Why do casinos William
Re: Why do casinos William
Re: Why do casinos William
Re: Why do casinos issue LEs?
Re: Why do casinos issue LEs?
Re: Why do casinos issue LEs?
Re: Why do casinos issue LEs?
Re: Here's my hypothesis

Copyright 2022 David Spragg