EDITORIAL: That $26 bottle of water? ‘Shame on us’

The first step toward fixing a problem is acknowledging there is one. Some Las Vegas heavy hitters have finally come out of denial.

The September tourism numbers are in, and they continue to disappoint. Visitation to Southern Nevada in September fell 8.8 percent when compared with the same period in 2024. That marks eight straight months of decline.

The region — the Strip in particular — has been hammered in recent months by social media posts accusing casinos of pricing out potential visitors with parking and resort fees, high room rates, exorbitant food and liquor costs and expensive table minimums. In June, a meme featuring a $26 bottle of water from a minibar at the Aria went viral.

It’s difficult to pinpoint, of course, the precise reasons for the sliding tourism numbers. Several factors are likely in play, including the usual economic cycles and a slowdown in international travel. But the “value” perception — $13 beers and $20 bagels — certainly wasn’t helping.

Through the criticism, casino executives and tourism officials insisted all was well, that their metrics showed Las Vegas remained in a good place. Yet cracks in the facade appeared when several casinos in September began offering discounts to locals, and the Las Vegas Convention and Visitors Authority launched a five-day sale with deals involving many Strip resorts.

And now the pretense has all but evaporated.

During an earnings call Tuesday, Caesars Entertainment CEO Tom Reeg acknowledged the criticism over high prices was legitimate. “I don’t discount that there are areas in our business and in Las Vegas that might have gotten over their skis pricing-wise,” Mr. Reeg said.

On Wednesday, MGM President and CEO Bill Hornbuckle made the same point. “When we think about pricing and things that got everyone’s attention, whether it’s the infamous ($26) bottle of water or Starbucks coffee at Excalibur that cost $12, shame on us,” Mr. Hornbuckle told analysts. “We should have been more sensitive to the overall experience at a place like Excalibur.” He admitted, “Look, we lost control of the narrative over the summer. I think we would all agree to that in hindsight.”

Mr. Hornbuckle noted that his company has taken steps to “price correct” at various resorts. Mr. Reeg believes “it won’t be long” before stories about $26 bottles of water become old news.

Las Vegas remains a world-class destination offering the finest in gaming, dining, entertainment and sports. It will emerge from this mini-slump stronger and more competitive than ever, particularly now that the two men whose companies operate 17 Strip casinos have acknowledged part of the problem.