Las vegas Business Model now money off 200 lost/person and $300 for room

For many, the Stardust represented the most accessible place to stay in a city that gives VIP treatment to the biggest gamblers. But the concept of discounting rates to keep people coming is rapidly fading from the Las Vegas Strip as many casinos nowadays make more revenue from hotel rooms, clubs, shows and cuisine than from gambling.

"There was this implicit idea that invisible high rollers came in and funded everything, so that Mr. and Mrs. America could have a steak for $2 and see Frank Sinatra for the price of a drink," said David Schwartz, director of the Center for Gaming Research at the University of Nevada Las Vegas.

"Now you can build a 7,000-room hotel and charge $300 a night for rooms," he said. "With slots being so big, it is all the people losing $200 per trip that are driving the growth."