Las Vegas Review- Journal <\/em>this week that it’s the least expensive of any (of the formerly free) valet services on the Strip. She added that Simon Property Group, which owns the mall, had discussed the fee for months before instituting it.<\/p>\nSector Taking a Hit<\/h2>\n Simon Property Group, which owns the Forum Shops and more than 300 other mall properties across the US, Europe, and Asia, has watched the industry slip in recent years. Online shopping has been the biggest threat, with an estimated eight percent of Americans purchasing products over the internet.<\/p>\n
That’s led to a stock price drop for the company. Simon went from a 52-week high on July 27, 2016 of\u00a0 $229.10 down to $165.31 on July 27 a year later.<\/p>\n
Because of the decrease in value, this year, the company eliminated stock grants tied to its long-term performance for top executives, according to its proxy statement filed with the Securities and Exchange Commission.<\/p>\n
\u201cThe challenging business conditions in the retail industry that the company is facing,\u201d was the reason for the decision regarding stock grants and bonuses, according to the proxy statement.<\/p>\n
New Vegas Order<\/h2>\n Whether the charge for valet parking is because of the industry\u2019s condition or just because everybody else is now doing it, the trend towards charging for previously free services in Las Vegas casinos and their ancillary amenities seems to be here to stay.<\/p>\n
Parking fees at MGM Resorts casinos began back in January 2016 and the program wasn\u2019t even a year old when the gaming conglomerate increased prices at 11 of its properties. Parking there will cost anywhere from $7 to $25. Caesars waited until March of this year to implement parking charges.<\/p>\n
Drink Monitoring at Slot Bars<\/h2>\n Free drinks have also become harder to come by in Sin City of late. The once-revered notion that even playing the penny slots in a Las Vegas casino would keep the liquor flowing seems to be going to the wayside.<\/p>\n
Two years ago, MGM Resorts implemented a program to reduce the amount of alcohol in its cocktails. According to VitalVegas.com, the company went from 1.5 ounces of liquor in its mixed drinks to 1.25 ounces, but that\u2019s only for paying customers. A freebie will only have a single ounce.<\/p>\n
Caesars announced earlier this month it had partnered with local company Arden Progressive Systems & Games to use its Complimentary Validation System to determine when players have “earned” a free drink with slot play<\/a> at the bars. A monitoring device, as well as tracking software, is connected to slot machines to see how much money a player has invested before \u201ccomplimentary\u201d adult beverages come their way.<\/p>\nThe Las Vegas Sands Company\u2019s Venetian and Palazzo casinos are also using the system, as well as the off-Strip Westgate.<\/p>\n","protected":false},"excerpt":{"rendered":"
Whether you’re just window-shopping at the Forum Shops at Caesars Palace in Las Vegas, or dropping $50K or more at one of the chichi designer stores there, the trend started last year by MGM Resorts towards paid parking just took another hit. Because before customers even enter the \u00fcber high-end mall, they’ll pay $7 to […]<\/p>\n","protected":false},"author":42,"featured_media":55583,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,18],"tags":[],"acf":[],"yoast_head":"\n
Las Vegas Forum Shops End Free Valet Parking, Charges Are New Trend<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n