Wynn Las Vegas, Encore to Begin Paid Parking Aug. 7, 2017

By Scott Roeben, on July 14 2017

2 min read 37 comments

Las Vegas

Two of the few remaining Las Vegas Strip resorts without paid parking, Wynn Las Vegas and Encore, will begin charging on Aug. 7, 2017.

Customers will have to pay for parking whether they use valet or self-park.

There’s been a charge for valet parking for several months. Valet fees are going up. Valet will cost $15 for up to four hours, $20 for 4-24 hours and $20 for each additional 24 hours. (Those rates are $2 higher than when they were first announced in Nov. 2016.)

Now, brace yourself.

Fees for self-parking will be: $7 for 1-2 hours, $12 for 2-4 hours, $15 for 4-24 hours and $15 for each additional 24 hours.

While there are no specifics yet, certain levels of play in the Wynn and Encore Red Card loyalty program will warrant free parking, a common practice at Las Vegas casino resorts on The Strip. Wynn has officially said, “Parking is validated for Red Card members under certain circumstances.”

Wynn Encore paid parking — Hey, Wynn and Encore held out longer than most, so there’s that.

The start of paid parking at Wynn and Encore has been anticipated for some time.

The first major Strip company to “break the seal” of charging parking fees, traditionally free at Las Vegas casino resorts, was MGM Resorts back in 2016.

The other major casino company in Las Vegas to institute paid parking was Caesars Entertainment, in early 2017.

Cosmopolitan began its paid parking program in June 2017.

While the list of Las Vegas Strip casinos with free parking continues to dwindle, you can still park free at Stratosphere, SLS Las Vegas, Circus Circus, Venetian and Palazzo, Treasure Island and Tropicana.

The major shopping malls on The Strip (often adjoining resorts) also continue to offer free parking, including Fashion Show Mall, The Shops at Crystals and The Shoppes at Mandalay Place.

Las Vegas Monopoly — You knew we’d share this classic again. Read the full story.

Fees for paid parking have resulted in a windfall for Las Vegas casinos which, remarkably, had not turned a profit for eight consecutive years prior to 2016 when they broke their losing streak.

While paid parking isn’t a welcome cultural shift in Las Vegas, revenue from gambling isn’t what it used to be (gambling once paid for perks like free parking), so we have to collectively help pay for all the shiny, pretty things in the most exciting city in the world.

Update (7/14/17): Wynn Las Vegas has confirmed our story. See the FAQ on the official Wynn Web site.

Next up

Double Murderer O.J. Simpson’s Las Vegas Crime Scene Is Being Demolished at Palace Station

July 12 2017 — 2 min read — 21 comments

37 Comments

wtfunk555 July 17, 2017

The lost ticket charge is only $30 dollars so if you plan on staying for more than 2 days wouldn't it be smarter just to lose your ticket?
Reply
Funkhouser July 15, 2017

I'm struggling to validate the claim in the article that "Fees for paid parking have resulted in a windfall for Las Vegas casinos which, remarkably, had not turned a profit for eight consecutive years prior to 2016 when they broke their losing streak." Are you implying that gaming has been unprofitable for the casinos? or Did you really mean the operators thru mis-management were unable to turn a profit because their debt load and operating costs were too high. It's feels like the whole narrative of gambling is on the decline, gambling makes less money for Vegas is a self serving story. Yet when we look at NGC numbers and taxes, we are seeing growth. It seems to me that the story of gambling's decline is a sad story the casino operators like to tell to justify all the fee raping they are handing their customers in other areas of the business. Was it not true the higher tier players would not be getting their parking fees waved.
Reply View 2 replies Hide replies

mkhnks July 15, 2017

You raise a good point. If casinos (I'm thinking properties as a whole) have been unable to turn a profit on their hotel rooms, show rooms, retail and restaurant spaces, miscellaneous attractions and casino, why the hell are they in business? I know, they give away rooms and show tickets to entice gamblers to spend more money, so those are loss leaders, allegedly. It's a formula that has worked for decades, yet somehow it no longer works, despite the fact people are dropping hundreds of dollars per dinner each night in some of the finer restaurants, and millenials can't spend enough money for bottle service at an overhyped bar? And if you're looking at only the gambling portion of the enterprise, the math still doesn't make sense to me. If the house always wins, how much are they spending on labor and cheap cocktails served from a gun? Gaming is so over-saturated that nobody can make a buck on their game rooms any more? Yeah, I'm curious, too, how casinos haven't made a buck annually for nearly a decade, until parking fees came along.
Reply
Scott Roeben" height="43" width="43">

Scott Roeben July 16, 2017

Casinos, as a whole, overall, on average, didn't make a profit for the eight years prior to 2016. The reasons for that are numerous and varied.
Reply View 1 replies Hide replies

Funkhouser July 17, 2017

Sorry Scott, I am going to have to disagree with that as 'Fake News", or shoddy reporting here's why. Lets look at 8 public traded gaming companies over the last 5 years stock profit analysis. I won't get too deep in the weeds since depreciation write down, expenses, etc can make it look like a 'loss". Lets look at Gross Margin for the periods. 5 year industry average 43.73%. Wynn 38% Gross / Net 9.30%, MGM 37.80% Gross / Net -3.10, Sands Gross 46.90% / Net 16.30%, Caesars (I'll give you that one!), Genting Gross 29.80% / Net NA, Boyd Gross 45.90% / Net -4.0, Stations Gross 45.10% / Net 1.0 %, Red Rock Resorts Gross 55.10 % / Net 2.10. So that's 4 out of 7 with a 5 year net average in the black and 6 with a very healthy 5 year gross margin. Now there is no arguing bad real estate investing took it's toll from 2008 to 2011 during the Vegas downturn and resulted in huge write downs. Some of which never recovered from debt loads. I think it's safe to say, that operator revenue was still very healthy for those periods and nowhere near as bad as we think. Taxes were still collected, rooms were still remodeled, headliners were still paid, clubs still opened, and visitor attendance still grew. Gaming operators just want to see the same net profit growth that other businesses are enjoying in the market these days and on the backs of their customers.
Reply View 1 replies Hide replies

Scott Roeben" height="43" width="43">

Scott Roeben July 17, 2017

I don't know about all that. I just read articles on the Internet. https://apnews.com/afb696a68ee8410080937c1d608ce079/nevada-casinos-turn-profit-fiscal-2016-first-2008
Reply View 1 replies Hide replies

Funkhouser July 17, 2017

I hate these articles, they are self serving crap pieces. First the author is factually incorrect in the headline. A basic review of financial statements available to share holders of Wynn and Sands have those companies turning profits thanks to Macau during this period. Digging deeper into financials you can report 'some' of these public companies took a loss (which could be attributed to write downs, employee expenses, end of tax credits, etc). Let me put it another way. If they were bleeding money as bad as the shoddy author presents, access to capital and operating lines of credit would be severely limited. There's the bond market of course as we know thanks to CET, how you can sink a company. The loss he describes is .0269% across the 24 billion. Easily the write down on real estate values erosion. The devil is in the details like GA expenses, Gaming Drop, Average Room Rates, YoY gambling win, etc. All which play into Net income. Which a lot of these operators have seen growth. This is why stock investors and bankers pay little attention to articles like these
Reply View 1 replies Hide replies
RustyHammer July 18, 2017

I'm not going to say who is right or wrong, but I find it hard to believe that the industry as a whole has been hemmorhaging cash for eight consecutive years. Have some been losing money/market share? Naturally... nature of all businesses, I'd say. How good or bad the past eight years have been is a lot like any good political debate. You can cherry pick statistics to argue on the side you're lobbying for, and ignore the rest. Seems rather convenient that casinos are adding/hiking parking fees and, look, here's proof that we can't make money any more! So while I am in no position to judge which argument is more accurate, (I'm a casserole expert, dammit, not an economist), I find the wholesale idea that casinos have been losing money for eight years to be preposterous.
Reply View 1 replies Hide replies
Funkhouser July 18, 2017

Hi Rusty. So Scott was accurate in the article he quoted, it was just a flawed article that was factually incorrect. All the information I sited is for publicly traded companies and available to shareholders and investors. I pulled my research from Morningstar and Streetwise historical profit analysis. While it's true some of these companies posted a loss, digging into their financials shows it was not always from revenue generating activities such as rooms, F&B, and gambling drop. I think it is untruthful to project LV casino operators as running loss businesses for past 8 years and presenting parking fees as the solution to getting them to profitability. Much of what is generated by the LV PR machines if fabricated to serve the business as investors are presented with a story that talks about growth and the public is presented with one that talks about losses to justify squeezing the customer thru fees and reduction in comp offering. A little digging below the surface can reveal a lot.
Reply

Adam July 14, 2017

I've never stayed/played at the Wynn/Encore but I'm sure going to now because paid parking will no doubt enhance the experience.
Reply View 2 replies Hide replies

mkhnks July 15, 2017

You're going to get so many added services and features for your parking fee that you'll wonder how you ever lived without one.
Reply View 1 replies Hide replies

Mike L July 15, 2017

Like complimentary less than 1 mbps wifi access for up to 2 devices, access to that pool of rainwater at the Linq, exclusive access to overflowing trash receptacles, and use of an automatic elevator. The value proposition here is amazing!
Reply View 1 replies Hide replies

Three Slice Toaster July 15, 2017

Don't forget the complimentary newspaper that you have to go down to the front desk and get yourself. And the $15.95 they charge if you have something delivered to the hotel. And the artistic patterns of decades-old vomit stains in the garage that act as helpful guideposts so you can find your car again. And thank God for free local phone calls within the 702 area code, since there is no cell service in Nevada.
Reply

Scott Roeben" height="43" width="43">

Scott Roeben July 16, 2017

What if that actually happens? What if self-park is less busy and their customers can get better spots and have to walk less far in the heat? That would enhance my experience. I think they anticipate even bigger traffic and crowds at the new attraction, so they're weeding out the folks who are using the spots to visit other casinos, etc. Just a thought.
Reply View 1 replies Hide replies

Adam July 17, 2017

I see what you're saying. But wow, that's kind of a long stretch for me.
Reply View 1 replies Hide replies

Scott Roeben" height="43" width="43">

Scott Roeben July 17, 2017

Agree. It's a money grab, but that sounds less romantic.
Reply

Manybar Goatfish July 14, 2017

I always try to look on the bright side. As a tourist, exorbitant parking fees make jumping into a taxi at the front door of a casino all the more sensible and enjoyable. It's convenient, hassle free, and I won't spend one minute of my time explaining to the cop that pulled me over, that I only had two beers in the last six hours. Also on the plus side, I could argue that parking fees at least keep some of the riff-raff away. Because, after all, if I wanted to rub elbows with riff-raff, I could have stayed home and gotten drunk with my family and friends. And seriously, if $15 a day is going to upset the donkey cart that much, then I'd go the astral projection route, and my next "trip" to Las Vegas wouldn't cost me a dime. That'd teach 'em.
Reply
Bouldersteve July 14, 2017

I think the Venetian and Treasure Island will be the next ones to charge
Reply View 1 replies Hide replies

FYMYAWF July 16, 2017

They're going to be forced to or people will simply park in their garages and walk to the resorts that don't have free parking. Now that almost every strip resort charges, it's a catch-22 for them - charge and piss people off, or not charge and have a parking structure jammed full of people who aren't in your property.
Reply View 1 replies Hide replies

Bouldersteve July 16, 2017

Agree..I blame MGM. They are the ones who started pay to park.
Reply

Brian Janis July 14, 2017

Miracle mile shops valet and self parking is free.
Reply View 1 replies Hide replies

Funkhouser July 15, 2017

I know, and it is a horrible experience for guests staying at the resort. I am a diamond player who arrived on a weeknight to see valet line stretching back to Harmon Avenue. Trying to park in the MM shop garage was horrible and I was lucky to get a spot on 6th floor of garage. MM garage has become the free parking spot for the strip at the expense of hotel guests.
Reply

Mike L July 14, 2017

So they don't waive the parking fee for guests already paying their asinine "resort fee"? So it will not be an additional $54 ($39 resort+$15 parking) daily to stay at this hotel? This is the reason I stay downtown. Even though several of the downtown properties have adopted the "resort fee" scam (with the exception of The Cal, Fremont, Four Queens and Main Street Station), they don't gouge guests for parking and the "resort fees" are still about half of what they are on the strip.
Reply
RustyHammer July 14, 2017

Hey, if Pizza Cock is going to charge for parking to access their very special flatbread casserole, why shouldn't the casinos? What, Pizza Cock doesn't charge for parking? They don't have a parking lot? Bastards!
Reply View 1 replies Hide replies

FYMYAWF July 16, 2017

Rusty when we're both in Vegas next I'm going to take you to Giordano's for a nice hunk of Chicago style deep dish pizza. We can call it "feeding the troll".
Reply View 1 replies Hide replies

RustyHammer July 16, 2017

Pretty boy blogger says it's not pizza. By his standards, anything made with a crust, sauce and cheese is either a quiche or a casserole. You can call it trolling. I call it giving the people what they want. Since PCock is part of the DGrand experience, I guess, do they validate for parking in the Grand ramp?
Reply

mkhnks July 14, 2017

Thank you for not using the "paid parking is the norm in other major cities" excuse. As I've illustrated before, that's not apples to apples. Your new apology for the casinos is a far better justification for the cash grab casinos are doing. Despite that, I don't pay to go shopping or dine at Mall of America. The mall may not have gambling, but it does have restaurants, retail and bars that are open late. There's no bottle service at the mall bars (which aren't nearly as exciting as they were in the 1990s -- that's another story), but the mall's tenants can somehow pay for parking for bums like me. (I rarely set foot in that place, and I live about seven miles away.) It's hard for me to believe that hotel rooms, restaurants, showrooms, ridiculous clubs and a few token gamblers can't offset the cost of providing parking at a strip casino for all of that. I won't stop looking at parking, at least on the strip, as nothing more than a cash grab. But at least we're not using downtown Chicago to justify it! Thanks, as always, for your info. It's always good to know when I have less incentive to spend my vacation dollars on the strip.
Reply View 2 replies Hide replies

Alex July 14, 2017

Seems as if you're not comparing apples to apples either. You're trying to compare a shopping mall to a casino-hotel. But, shouldn't you be comparing a shopping mall to a shopping mall? As noted in the article, you can park for free at Las Vegas area malls...just like you can at the Mall of America.
Reply View 1 replies Hide replies

mkhnks July 14, 2017

In some sense I am comparing a shopping mall to a casino. MOA specifically. Neither MOA nor most casinos on the strip are landlocked like downtown districts where you build sky high. And they're both retail/entertainment destinations with lodging. Far more similar than Caesar's Palace is to downtown Atlanta. If you can't see the similarity between MOA and Circus Circus, not much I do for ya. MOA doesn't make a dime from gambling (although a convenience store that pays rent does sell state lottery tickets.) MOA has two giant ramps for parking, and an overflow surface lot, and it costs not a dime to park there. Shouldn't it cost more for that parking when there's no gambling to subsidize it? But hey, if you're happy to pay for parking at strip casinos, where there's always space to develop something and not exactly a shortage of parking, more power to you. MGM and Caesars will appreciate you far more than they'll appreciate me.
Reply View 1 replies Hide replies

mkhnks July 15, 2017

Am I blind... my follow up comment I typed this morning about my assumptions regarding MOA and everybody else's knowledge of it, or lack thereof, is nowhere to be found. ANNOYING! I had a link to MOA visitor statistics vs. the Vegas strip... and more. Dammit, Beavis!
Reply View 1 replies Hide replies

Scott Roeben" height="43" width="43">

Scott Roeben July 16, 2017

This comment system holds comments that include links for moderation. Believe it's a spam prevention filter.
Reply View 1 replies Hide replies
mkhnks July 16, 2017

Foiled by spam prevention. It'll get me every time.
Reply

Funkhouser July 15, 2017

Glad you brought that up. As we know in other cities, on street parking is available and little parking meters are available for low cost parking. In Las Vegas there is no parking on the Strip and most side streets. It's just another fleecing of the customer. On the plus side Uber and public transportation should pick up in the city.
Reply View 1 replies Hide replies

mkhnks July 15, 2017

Every time the parking rates on the strip increase, or another casino adds a parking fee, I have to assume that's more money in the pockets of Uber/Lyft drivers.
Reply

T Diddy Vegas July 14, 2017

Linq ramp and lot behind Big Wheel is free for locals. Vital Vegas do you know more about locals being free?
Reply
Kevin July 14, 2017

Venetian and Palazzo offer free parking. I was just there on Tuesday.
Reply
Rocky Sullivan July 14, 2017

I thought you could still self park for free at Planet Hollywood.
Reply

Wynn Las Vegas, Encore to Begin Paid Parking Aug. 7, 2017

Next up

Double Murderer O.J. Simpson’s Las Vegas Crime Scene Is Being Demolished at Palace Station

Leave your thoughts on “Wynn Las Vegas, Encore to Begin Paid Parking Aug. 7, 2017”

37 Comments

Recent Stories…

Mr. Beast Announces Air Dates of Controversial Competition Show

Chilangos Tacos is Coming to Grand Bazaar Shops

Days Are Numbered for Señor Frog’s and Yacht Club at TI