Study Shows How Little Millennials Gamble

Much has been made about millennials’ gambling habits, or rather lack thereof. And a new study verifies that millennials aren’t fond of slot machines and table games.

Stockton University, located outside Atlantic City, found that just under 21% of millennials (35 and under), visit the East Coast resort with gambling as their primary reason.

In contrast, 42% of those older than 35 named gambling as their top reason for visiting Atlantic City.

Millennials also spend just 8.5% of their trip budget versus 23% by non-millennials, according to the research performed by Jane Bokuewicz, Stockton’s assistant professor of Hospitality and Tourism Management.

The millennials were also asked what they would increase their spending on if money wasn’t a concern. 50% said that they spend more on bars and nightclubs, as opposed to 17% of non-millennials.

According to the Philly Voice, Bokunewicz polled over 500 millennials and non-millennials, most of whom were from New Jersey, New York and Pennsylvania. The research was performed for Levenson Institute of Gaming, Hospitality & Tourism at Stockton University.

As for millennials, they represent America’s largest population at 83 million people. And casinos are trying to figure out how they can appease this population.

So far, dancing, dinner, drinks, and nightclubs has been an appropriate answer. But slot machines haven’t caught the interest of younger visitors.

The hope for casinos is that they can attract more millennials by including a skill-based element. In fact, the future of the 7 remaining casinos could be based on the success of skill-based slots.

After all, the town built its fortune on 75 million Baby Boomers, who are now getting older.

“The preferences of (Millennials) regarding entertainment, accommodations and amenities is of major significance to the casino industry and to our region’s future economy,” said Rummy Pandit, who’s the executive director of Stockton.

Borgata Hotel Casino & Spa CEO Tom Ballance said that the research should help the industry moving forward. Borgata was one of the main sponsors of the study.

Other interesting findings from the research include that millennials find “all-inclusive” to be important, Wi-Fi is a must, and over 30% of millennials said that public transportation is very important to them.

As for millennials’ gambling, 57% prefer table games over slot machines, and they like to play video slots with family and friends.

The good news for Atlantic City is that 91% of those who’ve visited within the last year saw it as a very positive or positive destination.

The negatives are the city’s high costs, and a lack of diversification in the casino activities.

“Casinos, city planners and ing businesses should focus on providing midscale accommodations and casual dining options to attract new visitors to the city,” read the study.