Gambling in Las Vegas is on the verge of undergoing a revamp. Clearly, the millennials i.e. those born between the early 1980s and the early 2000s give more preference to skill-based video games over slot machines. And earlier this month, Nevada Gov. Brian Sandoval signed a legislation that said that the newly introduced slot machines will have a skill-based element in them from now on.
That’s right! Since, games such as “Angry Birds” have gained more popularity among young gamers, thus, the slot machines will now require a skill like driving cars or shooting aliens, normally required in a video game.
The Association of Gaming Equipment Manufacturers’ bill was signed on May 21 following the agreed approval of both legislative houses for the measure.
The Association of Gaming Equipment Manufacturers-backed Senate Bill 9’s passage lets the slot machine firms to introduce games with an arcade-style element. It is the belief of slot makers that these machines will lure a gigantic sea of young players. The reason being these machines put the video-game element into a bonus round.
According to Association Executive Director Marcus Prater, it is no less than a monumental moment for the casino industry of Nevada.
Last year, Nevada came up with a significant count of slot machines. For six months out of a total of 10 months from June through March, an increase in statewide slot machine revenue was reported. Also, Strip casinos reported an increase in eight months of these 10 months. This has been encouraging for analysts.
Reportedly, for six of total nine past months, slot volume significantly increased across the state. On the Strip, on the other hand, it increased seven of nine months. The slot volume was reported to have statewide surged just two times in the last half a decade. While in 2011, it rose by 0.3%, 2014 reported a rise of 0.1%. The latest figure is completely on the flip side.
In a much similar manner, the slot machine revenue statewide also rose just twice during the period. It increased by 1.5% in 2011, with some 0.7% augment in 2012.
Michael Lawton, Gaming Control Board Senior Research Analyst, said the slot floor reported an enhancement in the spending patterns and they were comfortable with the same.
In the view of researchers, the increase in the amount bet every month on slot machines by gamblers, indicated that even after recession, middle-market consumers were continuing with their spending habits. And these gamblers were not from the millennial generation.
Director Alex Bumazhny at Fitch Ratings Service’s gaming, lodging and leisure research affirmed that those of age 35 years and younger showed more odds of partaking in nongaming activities. Nevertheless, they gamble. But, they would prefer blackjack tables and not slot machines.