Big Show and I used to laugh when we'd get offers in the mail from Venetian as we used the quality of the offer to indicate the amount of pain the company was in. When times were good, they'd offer us $25 match play (that's like a free $25 bet, basically). Recently, the offer includes free rooms almost without restriction, as well as match play of $50 to $100. In other words, they've been much more aggressive with their comps, understandably.
Today I got an email from MGM, offering a free flight. "Stay are ARIA or VDARA and your next round trip flight is free!" The terms are here, obviously there is some fine print, and you basically have to stay there twice - on this trip, when you earn the free flight (up to $350, actually) and on the return trip where you use the free flight as well. Interestingly, the rates they are offering for the hotel on this promotion are pretty cheap as well: $99 for weeknights, $169 for weekends.
In any case, I'd say this is a pretty aggressive comp, indicating misery in Vegas.
disclosure: NO positions in LVS, MGM, WYNN, BYD or any other Vegas stocks.