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After staying in the Rio Masquerade Suite, I began to wonder what it would take to live in a casino. (1) How much play would it require for the caisno to comp you a suite every night? (2) How many consecutive days would the casino allow you to stay there? and (3) What would it cost you?
Let's say that at 1600 sq ft high rise condo near the strip runs appoximately $2000 per month, which does not include insurance, electric, sewer, trash, laundry, internet, cable, or telephone. Adding those additional expenses you are looking at somewhere between $2500-$3000 per month.
The real question is how much daily play would you need for the casino to consider comping your stay. If the Rio would comp your stay if you earned a 1000 Tier Credits then maybe it would be worth it (It would require $10,000 of vp play per day to receive 1000 TC) . If you exclusively played video poker with an average return of 99%, you would have an expected loss of $100 per day or $3000 per month. Obviously some months it could be worse and some months it could be better.
Benefits: Considering expenses everything seems to be a wash. Plus you would receive free room service, towel service, cable, and local phone service. Plus after 50 consecutive days of play you would become a 7 star member, with some pretty nice benefits. At Diamond status at the Rio you receive access to the Diamond lounge that provides some free food and drinks, free to access to their gym and spa, free access to the pool, and probably special invitations to either drawings or other parties they throw for their diamond members.
Cons: Food would be an issue. There was no actual kitchen in the suite so dining out everyday would get old very quickly. I am sure it would be possible to get some sandwich meat and bread and soup, but if you like to cook this could become an issue. The other major issue would be finding time to play enough to earn the 1000 tier credits. You would probably need to still work your day job and then find at least 2 hours to play video poker.
My other thought is, what kind of bankroll would you need to try this. $10,000? If you aren't hitting the royals then your losses could mount very fast. Obviously playing 2 hours at minimum a day everyday you are sure to hit your fair share of royals, but again anything could happen within the short term (a given month lets say). The other issue would be even if they were willing to comp your stay would they allow you to keep the same room. Moving rooms daily or weekly would be a huge hassle.
I heard that Caesars has a Chairman level as well, reserved for whales. If you earned a 1000 TC per day for 350 days out of the year, you would be looking at 350,000 TC, plus the bonus TC of 1000 that you would receive daily would then give you 700,000 TC. I think at some point, some executive would begin to look at your play and evaluate what the casino is profiting off your stay. We all know Bob Dancer is the best at exploiting small positive expectations games so I am sure he has considered this questions before and done some evaluaiton of the costs.

I am an employee of a Casino. Former Table Games Director, current Pit Supervisor. All the personal opinions I post are my own and do not represent the opinions of the Casino or Tribe that I work for.

The mountain is tall but grass grows on top of the mountain.

Most casinos really do not want to comp your stay beyond the four or five day limit they usually impose on their hosts authority. You really have to gamble big and be known to gamble big to get some favored stay as long as you would like to status. That is why many people who do live in casinos still have to move from time to time.

I believe teddys was the king of casino living for sometime. That is until he decided to kick himself in the nuts with the lack of discipline shoe. Followed buy that evil bitch variance slapping him in the face. The tragic events left him curled up in a ball sobbing, rocking back and forth, sucking his thumb.
Damn those free rooms cost a lot!

Yeah, but one retired geezer who played poker was able to do 40 days in Vegas with only one night paid. And poker players get comped at low rates so his Video Poker helped out at a few places.

All animals are equal, but some are more equal than others

'So as the clock ticked and the day passed, opportunity met preparation, and luck happened.' - Maurice Clarett

I am an employee of a Casino. Former Table Games Director, current Pit Supervisor. All the personal opinions I post are my own and do not represent the opinions of the Casino or Tribe that I work for.

So I have 42 free nights on any CET property, and multiple slotplay offers. I guess it is possible to stretch out your bankroll to get free rooms, but is this standard? I am a Platinum. I also got a free flight and 2 nights at Harrah's Laughlin but I can't make it.