Millennials are the key to casino revenue growth

Published on June 29, 2016 in Industry News

Cash and mobile casinosWhile many older generations see millennials as a problem, according to Lovell Walker from MGM Resort, Millennials are expected to become a force to be reckoned with in the near future thanks to their love for spending and technology. Online casinos are the perfect place for the approximately two-billion strong, tech-savvy but price conscious 18-34 year olds.

"According to the statistics, there are at least 80 million millennials with $200 billion in their yearly buying power."

Most casino operators would love to take a piece of the revenue pie and who wouldn’t? It looks like a very large, delicious pie!

Even though casino operators have tried out their best advertising formulas to attract these millennials to their gaming establishments several years ago, it seems as if they just can’t connect with them. According to Walker, casino operators should think of new tricks to capture this generation’s attention. He also said that casino operators should be specific on who they are targeting and know how to sell their business to that group, especially when it comes to your business and the management of it.

Millennials are considered “spoiled” and in order to capture their attention you need to bring their environment to them and build your gaming platform around that. This will not only change the dynamic of gaming and how it is today, but it will also bring a massive spike in revenue to the casino. Dynamic slots in particular are the perfect opportunity for this sort of innovation.

It’s a fact that millennials love being on their phones, mobiles have become another limb which connects them to the world around them. Millennials don’t go anywhere without it and they use their phones to capture moments, interact with anyone and everyone and broadcast everything they love and hate in a social space. This is why games should be made more appealing to attract this large group of potential players.

Attracting millennials to online casinos will not only spike up the jackpots and the overall pots but it will also increase the revenue of the casino smart enough to draw these users. There are so many ways to lure millennials to a specific online casino as they have the advantage of changing the design and layout of the casino. Hence, they can claim the attention of millennials and start cashing in sooner and more easily than land-based casinos could.

Millennials are a force to be reckoned with and should not be discarded as they can breathe new life into the online gambling world.