Reviewing the Current State of the Gambling Industry
The impact of COVID-19 on the land-based gambling industry cannot be understated . Closures , travel restrictions , and new safety measures following mixed re-openings have all landed significant blows to the market . But , even prior to this most recent and unexpected cataclysmic shift , there were signs of an industry pivot .
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For decades , casino floors have been dominated by slot machines , sometimes occupying more than 80 % of floor space , and with good reason . According to the Center for Gaming Research at the University of Nevada , Las Vegas , the hold advantage of slot machines ranges from 5-10 %. As a result , slot machines typically account for approximately 80 % of casino gaming revenue .
The greatest hold for a table game , by contrast , is double-zero Roulette , at 5.3 %, which also requires significant staffing costs as well as slower wagering velocity . But the greater question has become one of player interest . The average slot player is aging , and the current landscape of the casino floor is leaving roughly one-third of carded players hugely underserved , accounting for less than half of their represented market share in slot revenue . Players under the age of 50 simply aren ’ t playing slots in meaningful volume despite the prevalence of these machines on the floor .
Considering the changes currently underway in the casino and regulated gaming market , there needs to be significant adjustments to the way players are catered to on the floor . That means understanding players in a much more profound and nuanced way .
Understanding the Evolution of Player Psychographics
The gaming industry has always been wary of shifting player demographics and psychographics .
Life Magazine ( Attribution : LIFE Magazine , June , 1955 )
In June of 1955 , LIFE magazine published an issue
http :// bit . ly / 3srXAww that argued that Vegas ’ s luck had run out and that its doomsday clock was ticking . The question was simple : was there really anything to offer every potential player in the market ? That same question , which proved alarmist over 60 years ago , is one that Vegas has been asking and answering ever since . That said , the question has become more valid over time . In fact , it is because of the evolution of the player , the player ’ s access to the rest of the world , and the notable data about player engagement that the supposition holds far more weight now than it did in 1955 .
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