When you walk through the doors of your local casino what age group can you expect to interact with? In most areas you will be socializing with patrons who are at least thirty five years old. In fact, some studies have shown that just 18% of young people frequent gaming floors.
These statistics are very worrying to casino owners because the demographic that shies away from casinos is the same one that has the highest spending power. Consequently, the gaming industry is trying its best to entice these young boys and girls into throwing some money their way.
One of their main strategies is doing away with the old games replacing them with new ones that can compete with the PlayStations and Xboxes. According to those in the know, game developers are ready with flashy games, however, casinos lack the infrastructure to host them. There is just no way that an outdated slot machine can compete with PS4!
As the industry waits for the slots to catch up with the games, it has decided to go digital. Online casinos are now the in-thing; instead of the awkward pull-lever/reel-spin slots you have video slots that increase your chances of winning. Even the table games have changed; you can now play live poker dealt by a real croupier without leaving the comfort of your living room.
Many gaming platforms are compatible with leading smart devices making it possible for you to play on the go. Some casinos have taken it a step further by availing their major jackpots to their mobile gamers. With such incentives it is not hard to imagine the gaming industry finding its way back to profitability.
Gambling establishments have also realized that if they want to stay in the game then they must diversify. Take Steve Wynn for example, who’s making good money from night clubs. The young revelers may not know where his casinos are but they are spending money that is positively impacting his bottom line. In fact, 2013 saw Wynn Resorts make about $5 billion in gross revenues.
It is obvious that casinos need to broaden their services however not everyone can afford to put up integrated resorts like those in Las Vegas or Macau. Furthermore, online gaming is also not a cheap venture and the picture certainly looks bleak for small casinos. All the same, they must do something to stay afloat.