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Are slots losing momentum?

Are slots losing momentum?

Slots, both land-based and online, have been one of the most reliable cash generators for casinos all around the world. Now it would seem that they are starting to lose ground to table games. Casinos are blaming younger casino players who seem to prefer a much more rounded casino experience rather than simply putting quarters inside of a machine.

In the past year it would seem that the largest three casinos in Maryland have cut the total of slot machines by 16%. This means that over 1350 slot machines have been put out of commission.

In place of all these slot machines will come more table games like Blackjack, Roulette and casino Poker. They will also add some more restaurants, entertainment spots and other amenities. Reports are coming in that show slots losing popularity in other parts of the US and other parts of the world as well. It seems that there were over 217,000 slot machines in Nevada but that number is now around 175,000.

But this news is not necessarily bad for casinos. In Maryland for example slot machine earnings are taxed at a huge average of 59%. Revenue coming from table games on the other hand is taxed at a much more casino-friendly 20%.

The chairman of the Joint Committee on Gaming Oversight, Eric Luedtke had this to say:"I think it's an expected part of the business. Casinos are right-sizing and responding to consumer demand, and I think they're all getting ready for the opening of that new casino next year."

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