November 2, 2015
Younger Players Find Slot Machines Boring
Millennials are just not into playing slot machines and this poses a revenue problem for casinos and states, according to an article in Stateline Magazine. According to the article, casinos nationwide “are suffering from a generation gap, especially as young people seek more exotic electronic games like the ones they can play on smartphones from anywhere.” The author cites a study by the Rockefeller Institute, which reviewed 16 states and found that tax revenue increased by just 0.1 percent in FY 15 compared to the previous year when adjusted for inflation. Excluding Maryland, which reported a 17.1% growth largely resulting from the opening of a new casino in Baltimore, tax revenue declined 1.2% in the remaining 15 states. The declining revenue is prompting the casino industry and states to seek new ways to attract younger gamblers, “including mimicking the types of games millennials play on the Internet, such as online poker and fantasy sports.” Read more here.