Everyday, many travelers become shocked and surprised by the prices of some of the Las Vegas attractions. Since they are swept up in the action of Sin City, many will just pay the money for the attractions without having a second thought until after. This leads many travelers to ask, “Why are Las Vegas attraction prices so high?” As a regular Las Vegas traveler, and a business advisor, I have heard this question many times.
To answer the question, “Why are Las Vegas attraction prices so high,” we have to go into some of the logic that leads to the prices being high in the first place. The attractions have to be picked apart to understand why one attraction might only cost $5 while another one next to it might cost $25.
Back in the older days of Sin City, Las Vegas attractions were owned by the casinos and were around to attract customers that were staying at other hotels that might not have considered going to the particular casino. Many of thee attractions were free, or only cost a marginal amount to view or partake in.
In the 1980s, a trend began in Sin city to have many of the Las Vegas attractions purchased by outside companies. This took the expenses away from the casinos, and put some short-term and long-term profits in their pockets.
In the short-term, the casinos benefited from the sale price of the attractions. In the long-term, the casinos began to charge a flat rent to the attraction owners, a percentage of the take, or both. This kept a constant flow coming from the Las Vegas attractions into the casinos without the casinos having to pay the overhead to the staff. Entrance prices for Las Vegas attractions began to climb for the first time.
Every Las Vegas attraction that comes to mind required some kind of staff to keep the attraction going. The company that owns the attraction has to pay the ticket sellers, the ticket takers, the janitors, the mangers, and any other kind of worker that might be needed.
In the case of an attraction with animals such as the Shark Reef Aquarium at Mandalay Bay, or Siegfried and Roy’s Secret Garden and White Tiger Exhibit, animal trainers, caretakers, and other kinds of specialists will have to be paid competitive salaries. This adds to the price of Las Vegas attractions since specialists do not come cheap.
Remember that space in, or around, the casinos in Sin City is not cheap. Those Las Vegas attractions that take up more room, usually cost more money to experience since the owners are most likely paying a premium price for the space.
There are some Las Vegas attractions that are located closer to the entrances of the casino than others. The closer to the entrances, the more prime the location. The easier, and faster, the attraction is to access, the higher the amount that the attraction owner usually has to pay the casino.
Just like all companies, the owners of Las Vegas attractions have to acquire insurance. Roller coaster rides or attractions where people come in direct contact with animals are going to require more insurance coverage as there is a higher chance of injury then, say, seeing a movie. Insurance has a strong impact on the prices of Las Vegas attractions.
The next time that you are in Sin City, keep these facts and factors in mind when deciding which Las Vegas attractions that you are going to experience. Use them to determine if the attraction is worth your money, or not.