Houston Crosta

There's no concierge anymore at most of the hotels.

Some of the really expensive hotels still have the service, but your basic property, you know, Luxor and, you know, Luxor Excalibur, Manly Bay, they don't have concierge services.

They don't have guest services.

It's no different than walking into the Hilton now, just fancier and they have gaming, right?

And so they've done a really good job of cutting all those people out to keep people inside the casino.

Is that because private equity came in during the pandemic?

Well, I think that the margins for everybody changed, right?

And the casino margins, they have obviously shareholders.

They want to make people richer than they are, right?

Why would you buy MGM stock if it's not going to go up?

The only way to make it go up is to show a better P&L, right?

Or to show vision.

So the better P&L is lay off the people that aren't required, right?

And so that's going to be the most of the support staff.

uh interim housekeeping now at some resorts so like if you stay for three days to only clean your room once wow right and and you have to request it right like that's a big thing that's crazy so they they've laid off so many people that that do housekeeping and all the cleanliness like vegas is not the service city anymore vegas is like the do-it-yourself go have fun city that's uh that's the change and we were just talking about how you want to move now is that is that why

It used to be like when I bought my house for $1.2 million, that same house in California or any other big city, coastal city, was three to four to five times more.

Well, now a lot of people left California and came to Vegas.

So the prices in Vegas went up.

And I argue that the prices in California have kind of come down.

So they're really meeting to where they're almost at the same level, right?