As a follow-up to our report on the economy in Las Vegas, we've heard that the Golden Gate casino has finally raised the price of its famous, somewhat edible shrimp cocktail from a buck to two bucks. As explained here when I predicted this increase (an easy call), for years people visiting downtown L.V. have tramped to the back of the Golden Gate — which means they pass every slot machine in the place twice — for the sheer novelty of buying a shrimp cocktail for one dollar. I don't think too many of those folks particularly wanted a shrimp cocktail but the bargain was always too good to resist.
Then in the spring of '08, legions of cheap tourists were jolted by the news that the Golden Gate had doubled the price…but there was an "out." If you joined the Golden Gate slot club, you got your mini-crustaceans for the old price. So everyone did. The same folks traipsed to the rear of the place for the same bay shrimp at the same price. They just stopped en route at the booth where you sign up for the free membership card.
And now that deal is gone and it's two dollars for everyone. I suppose sales will not decline much since the way the economy's going, "two dollars" is the old "one dollar." It's still a bargain but it's still a shame.