The Impact Millennials Have On Casinos

The Impact Millennials Have On Casinos

Casinos are changing the way they attract gamblers in light of the expectations of millennials. This is a targeted demographic because millennials thrive on high energy activities that get their adrenaline pumping. For those who aren’t daredevils, that often leads to casino visits.

Major chains such as Caesars Entertainment are focusing on the addition of skill based video games to their casino floors. Research has proven that millennials are not as likely to play a game in which whether they win or lose is determined by luck. Two of the largest gaming software companies in the industry have added games to Caesars owned casinos such as Tetris, Call of Duty and Grand Theft Auto. Having grown up playing these games, millennials are flocking to the gambling industry’s version of them.

Other casino operators are shying away from tailoring their entertainment to millennials because they don’t believe it is a good long-term investment. These casino magnates believe that targeting Generation X gamblers is a more profitable use of their time, as many millennials are more interested in the other entertainment options casinos offer aside from gambling.

One argument for casinos avoiding catering to millennials is that they have better opportunities to play enjoyable games from the comfort of their own home. Online and especially mobile casinos are keeping millennials at home to gamble. In large part this is due to the fact that many of them prefer sports betting to playing table games or slot machines. With major online and mobile sports betting companies in business, millennials are not looking for a reason to visit a land based casino. In fact, on average only 7% of a casino’s profits come from millennials who gamble.

Another argument is that casinos will benefit more by catering to the demographics that gamble the most, which is not millennials. Some experts in the industry feel that it is a waste of time to cater to millennials when they aren’t the ones filling the casinos and spending their hard earned money in the hopes of winning more back. While some casinos are swapping out older slot machine games for new skill based games, it has been said that this is not advisable because it cuts down on the number of a casino’s games that appeal to an older generation of gamblers. What casino operators are being urged to do instead is to take their existing games and incorporate today’s technology into the games of the past in an attempt to attract both demographics.

Some casinos are now choosing to lease certain new games rather than purchasing them. This prevents them from losing money on the purchase of a game that either millennials or older gamblers, or both, won’t play.

Overall, casinos are aiming to keep the games that they have always had, while finding new ways to attract as many gamblers of all ages as possible. Time will tell if casinos are able to strike the right balance in games.

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