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Ask the Slot Expert: Boyd beancounters say "no backsies" on benefits

6 April 2022

From the "Just Because You're Paranoid, That Doesn't Mean They're Not Out to Get You" file:

A few years ago, Boyd changed the structure of its slot club. It added two additional premium levels and changed the formulas for moving up in level and for earning points.

I met Jean Scott at the Gold Coast the week the new rules went into effect. She told me that when a casino announces a "new and improved" slot club, it may be new, but it's rarely, if ever, improved.

I say that it depends on your point of view. The club may not be improved as far as the players are concerned, but the casino sure thinks it's better.

One of her followers was visiting Las Vegas and at the Gold Coast too that day. He told her that he told the slot club booth staff that he didn't like the new rules and he would play less at Boyd and more at other casinos.

I thought, "That's kinda the idea." The new rules made it harder for video poker players to earn rewards and somewhat easier for slot players. It's easy to complain, but it makes sense to bring a player's club rewards more in line with a player's value to the casino.

Fortunately, none of the other locals casinos matched Boyd's new formulas, but then Covid hit and the casinos closed for three months. That gave them opportunity to run the New Coke play.

I had a theory that the real reason that Coke introduced new Coke was not to make a sweeter beverage that tasted more like Pepsi, it was to get people to forget what sugar cane Coke tasted like so they could switch to using high-fructose corn syrup. When Coke Classic came back, no one would realize that it tasted a little different from the old Coke they were clamoring for.

The only flaw in my theory is that Coke started using corn syrup in 1980 and New Coke came out in 1985, but I still call it a New Coke play whenever a company creates or takes advantage of an interim situation to change what they had been doing.

Station Casinos, the other major locals company in Las Vegas, took advantage of the Covid shutdown to tinker with its slot club and bring its point-earning formulas in line with Boyd's.

We hoped that some of the changes would be rolled back, but Boyd and Station are doing pretty well now. Enough players voted with the wallets and said, "Okay."

There's also another factor. There's been so much consolidation into two companies in the locals market, there's the "Where else are you gonna go?" problem. We're hoping that the club at Palms, which is opening at the end of the month, will have formulas like those in the good old days.

If you thought your offers from Boyd weren't good as they were in the past, you just might be right. In a recent meeting with a securities analyst, Boyd's CFO and Director of Corporate Finance said that there was no going back on promotions in the post-Covid climate and that the overall market was rational with regard to comps and other incentives. Boyd is also going to settle in at about 8500 fewer employees than it had before the pandemic.

David McKee, CDC Gaming Reports, wrote, "Patrons should expect fewer promotional offers and employees when visiting a Boyd Gaming casino. That was part of the message handed down by CFO Josh Hirsberg and Director of Corporate Finance Jake Mulcahy in a meeting with Truist Securities analyst Barry Jonas...Increased marketing spend was, they allowed, possible in the long-term future, but not at the expense of corporate cash flow...[management desires] to keep profit and cash-flow margins at 2021 heights."

I have not seen any changes in my offers that were not commensurate with my level of play in the past or insufficient employees at the Suncoast, but your mileage may vary.

Boyd Promos and Problems
Boyd Gaming throttles back on offers, staffing
Leaner, meaner Boyd

Here are the latest Covid data. There is a difference in the hospitalization data for US versus NV. The CDC reports total number of Covid hospital admissions. Nevada reports current hospitalizations, not admissions.

All data comes from the CDC (https://www.cdc.gov/covid-data-tracker/#cases_totalcases, https://covid.cdc.gov/covid-data-tracker/#new-hospital-admissions), except for Nevada current hospitalizations (https://nvhealthresponse.nv.gov/).


Totals Weekly Changes
US NV US NV
Date Cases  Hosp. Adm.  Deaths  Cases  Curr. Hosp.  Deaths  Cases  Hosp. Adm.  Deaths  Cases  Curr. Hosp.  Deaths 
 04/05/22   80,031,627   4,599,403   979,610   713,697   140   10,132   203,709   10,312   4,105   1,059   (52)   76 
 03/29/22   79,827,918   4,589,091   975,505   712,638   192   10,056   206,914   9,572   4,083   1,187   5   40 
 03/22/22   79,621,004   4,579,519   971,422   711,451   187   10,016   200,627   8,502   8,178   742   (71)   83 
 03/15/22   79,418,377   4,571,017   963,244   710,709   258   9,933   253,069   17,393   5,492   24,844   (20)   113 
 03/08/22   79,165,308   4,553,624   957,752   685,865   278   9,820   310,308   24,471   9,870   2,099   (101)   116 
 03/01/22   78,855,000   4,529,153   947,882   683,766   379   9,704   465,845   33,261   14,988   6,421   (189)   196 
 02/22/22   78,389,155   4,495,892   932,894   677,345   568   9,508   551,462   46,726   12,797   4,023   (297)   173 
 02/15/22   77,837,693   4,449,166   920,097   673,322   865   9,335   1,005,691   67,963   17,059   5,280   (375)   149 
 02/08/22   76,782,002   4,381,203   903,038   668,042   1,240   9,186   1,769,556   92,750   18,185   11,144   (387)   235 
 02/01/22   75,012,446   4,288,453   884,853   656,898   1,627   8,951   3,193,570   121,420   17,885   26,555   (344)   191 
 01/25/22   71,818,876   4,167,033   866,968   630,343   1,971   8,760   5,102,999   143,329   16,393   57,574   99   133 
 01/18/22   66,715,937   4,023,704   850,575   572,769   1,872   8,627   4,983,654   147,105   13,301   25,927   (1,787)   99 
 01/11/22   61,732,283   3,876,599   837,274   546,842   3,659   8,528   5,421,565   139,572   12,168   32,486   2,594   100 
 01/05/22   56,310,718   3,737,027   825,106   514,344   1,065   8,428   3,501,427   104,272   8,867   20,966   276   61 
 12/28/21   52,809,291   3,362,755   816,239   493,378   789   8,367   1,693,987   63,185   11,127   7,977   89   56 
 12/21   51,115,304   3,569,570   805,112   485,401   700   8,311   1,063,296   55,734   9,102   5,639   9   110 
 12/14   50,052,008   3,513,836   796,010   479,762   691   8,201   853,262   57,885   8,946   5,008   17   91 
 12/07   49,198,746   3,455,951   787,064   474,754   674   8,110   821,215   66,191   8,575   5,011   23   125 
 11/30   48,377,531   3,389,760   778,489   469,743   651   7,985   563,746   28,426   6,309   3,343   (50)   55 
 11/23   47,813,785   3,361,334   772,180   466,400   701   7,930   667,924   41,145   10,754   4,784   (24)   86 
 11/16   47,145,861   3,320,189   761,426   461,616   725   7,844   604,748   63,164   7,862   4,577   22   85 
 11/09   46,541,113   3,257,025   753,564   457,039   703   7,759   516,764   33,219   8,290   5,539   34   103 
 11/02   46,024,349   3,223,806   745,274   451,500   669   7,656   555,915   38,028   9,226   4,327   45   109 
 10/26   45,468,434   3,185,778   736,048   447,173   624   7,547   488,829   42,265   9,842   4,753   (87)   96 
 10/19   44,979,605   3,143,513   726,206   442,420   711   7,451   578,396   11,963   4,381   136 
 10/12   44,401,209   714,243   438,039   7,315   795,586   14,067   15,710   149 
 10/05   43,605,623   700,176   422,329   7,166   554,194   10,642   3,852   121 
 09/28   43,051,429   689,534   418,477   7,045   817,218   14,463   6,160   165 
 09/21   42,234,211   675,071   412,317   6,880   971,637   14,691   7,466   152 
 09/14   41,262,574   660,380   404,851   6,728   1,176,763   12,919   10,256   145 
 09/07   40,085,811   647,461   394,595   6,583   975,725   10,076   5,237   104 
 08/31   39,110,086   637,385   389,358   6,479   1,113,414   9,385   7,592   173 
 08/24   37,996,672   628,000   381,649   6,306   1,045,491   7,507   8,117   116 
 08/17   36,951,181   620,493   373,649   6,190   959,978   4,715   7,065   150 
 08/10   35,991,203   615,778   366,584   6,040   819,524   3,987   7,652   122 
 08/03   35,171,679   611,791   358,932   5,918   622,832   2,279   7,489   81 
 07/27   34,548,847   609,012   351,443   5,837   652,251   2,394   8,347   79 
 07/20   33,896,296   606,618   341,096   5,758   169,933   1,478   3,351   28 
 07/13   33,726,363   605,140   339,745   5,730   181,047   1,959   4,982   33 
 07/06   33,545,316   603,181   334,763   5,697   75,104   1,373   2,234   27 
 06/29   33,470,212   601,808   332,529   5,670   87,507   2,057   3,020   24 
 06/22   33,382,705   599,751   329,509   5,646   75,420   2,157   1,930   22 
 06/15   33,303,285   597,594   327,579   5,624   95,797   2,293   1,560   17 
 06/08   33,207,488   595,301   326,019   5,607   114,250   3,762   2,271   21 
 06/01   33,039,238   591,539   323,748   5,586   123,333   3,709   991   27 
 05/25   32,969,905   587,830   322,757   5,559   174,125   4,234   1,676   26 
 05/18   32,795,780   583,596   321,081   5,533   223,966   4,230   2,301   27 
 05/11   32,571,814   579,366   318,780   5,506   303,856   4,687   2,541   33 
 05/04   32,267,958   574,679   316,239   5,473   343,348   4,908   2,559   40 
 04/27   31,924,610   569,771   313,680   5,433   383,163   4,958   2,747   65 
 04/20   31,541,447   564,813   310,933   5,368   464,556   5,072   2,590   36 
 04/13   31,076,891   559,741   308,343   5,332   480,061   5,321   2,986   57 
 04/06   30,596,830   554,420   305,357   5,275   448,935   7,124   3,084   38 
 03/30   30,147,895   547,296   302,273   5,237   439,510   6,793   939   63 
 03/23   29,708,385   540,503   301,334   5,174   388,928   7,446   1,863   53 
 03/16   29,319,457   533,057   299,471   5,121   381,695   8,362   3,078   81 
 03/09   28,937,762   524,695   296,393   5,040   480,902   11,573   2,413   83 
 03/02   28,456,860   513,122   293,980   4,957   463,356   14,129   2,835   75 
 02/23   27,993,504   498,993   291,145   4,882   451,083   13,923   2,406   162 
 02/16   27,542,421   485,070   288,739   4,720   602,906   21,411   4,149   198 
 02/09   26,939,515   463,659   284,590   4,522   779,305   21,828   5,444   244 
 02/02   26,160,210   441,831   279,146   4,278   1,007,777   22,004   7,249   249 
 01/26   25,152,433   419,827   271,897   4,029   1,312,565   23,385   10,324   250 
 01/19   23,839,868   396,442   261,573   3,779   1,317,119   21,318   11,324   279 
 01/12   22,522,749   375,124   250,249   3,500   1,790,345   22,660   17,217   294 
 01/05   20,732,404   352,464   233,032   3,206   1,499,561   18,435   14,655   233 
 12/29/20   19,232,843   334,029   218,377   2,973   1,258,540   15,460   12,493   186 
 12/22   17,974,303   318,569   205,884   2,787   1,656,411   18,537   16,472   239 
 12/15   16,317,892   300,032   189,412   2,548   1,494,763   17,247   18,825   229 
 12/08   14,823,129   282,785   170,587   2,319   1,375,502   15,483   18,418   175 
 12/01   13,447,627   267,302   152,169   2,144   1,114,175   10,286   15,942   121 
 11/24   12,333,452   257,016   136,227   2,023   1,197,199   10,784   14,130   106 
 11/17   11,136,253   246,232   122,097   1,917   1,099,790   8,501   11,115   65 
 11/10   10,036,463   237,731   110,982   1,852   767,645   6,838   8,868   68 
 11/03   9,268,818   230,893   102,114   1,784   588,207   5,809   5,936   35 
John Robison

John Robison is an expert on slot machines and how to play them. John is a slot and video poker columnist and has written for many of gaming’s leading publications. He holds a master's degree in computer science from the prestigious Stevens Institute of Technology.

You may hear John give his slot and video poker tips live on The Good Times Show, hosted by Rudi Schiffer and Mike Schiffer, which is broadcast from Memphis on KXIQ 1180AM Friday afternoon from from 2PM to 5PM Central Time. John is on the show from 4:30 to 5. You can listen to archives of the show on the web anytime.

Books by John Robison:

The Slot Expert's Guide to Playing Slots
John Robison
John Robison is an expert on slot machines and how to play them. John is a slot and video poker columnist and has written for many of gaming’s leading publications. He holds a master's degree in computer science from the prestigious Stevens Institute of Technology.

You may hear John give his slot and video poker tips live on The Good Times Show, hosted by Rudi Schiffer and Mike Schiffer, which is broadcast from Memphis on KXIQ 1180AM Friday afternoon from from 2PM to 5PM Central Time. John is on the show from 4:30 to 5. You can listen to archives of the show on the web anytime.

Books by John Robison:

The Slot Expert's Guide to Playing Slots