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New habits in Casinos lowering revenues




New habits in Casinos lowering revenues


Casinos all across the US are currently suffering from a generation gap which just keeps getting bigger. This is visible especially when it comes to slot machines where young people are looking for far more exotic electronic games which they can enjoy from their smartphones.


This will be a problem not only for casinos but for the 23 states that rely on the revenue that casino taxes bring in. The Rockefeller Institute which studies tax revenue has said that the taxes from gambling have been pretty much flat since the Great Recession after you adjust them for inflation.


Daniel Sahl who is an associate director at the Center for Gaming Innovation at the University of Nevada in Las Vegas says that the industry has already accepted the idea that Millennials are not as attracted to gambling like their parents and grandparents.


Alex Bumazhny who is a financial analyst at Fitch Ratings and studies gambling had this to say: "They want more direction, more choice at decision points, and they are more comfortable with different technologies, Internet gaming and social gaming. Those games are technology-enable, require decision-making and you have a chance to win or lose money in the course of a day. That is increasingly important with Millennials and tends to take away players from casinos, especially on slot floors."


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