While Las Vegas and Atlantic City are popular casino gaming meccas, they also offer the allure of world-class entertainment, dining and nightlife. Though these amenities used to exist as merely a draw to entice the wagering crowd, they have gradually become more influential revenue channels in these and many similar markets around the world – and if gambling trends among millennials continue, these alternative entertainment streams to casino gaming may be a vital part of capturing the interest of future travelers.
Influence of Millennial Gambling Trends
For no other generation has the focus on entertainment and nightlife been more relevant than millennials. In a July 2016 study of Atlantic City casino tourists conducted by Stockton University, millennials (representing the youngest age group surveyed at 21-35) were shown to spend the smallest percentage of their travel budget, just 8.5 percent, on gambling activities. This figure came in barely over 1/3 of the percentage registered by millennials’ over-35 counterparts, at 23.5 percent.
Though sometimes stereotyped as being poor money managers, travel trends among millennials show that they are actually rather savvy and put a heavier priority on the value of experiences. This trend translates to the casino floor as well, where millennials are nearly even with other age groups when it comes to their likelihood of playing table games (a more community-oriented experience). At only 44 percent of those polled, however, millennials were nearly half as likely when compared to visitors over-35 to play a more isolating game such as slot machines.
Considering the low overhead and high return on machine-based gaming, these figures further highlight the importance of bulking up on new and innovative means of entertainment for a younger generation.