The Future of Digital Gambling

The Future of Digital Gambling
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The concept that Las Vegas was built on is inching closer to becoming a thing of the past. The younger generation flock to Vegas to party, dance, and enjoy the nightlife of the vibrant city rather than sitting on a slot machine at a casino. Many wonder what makes this generation different?

For starters, millennial generation, or commonly known as Generation Y, were born between 1980s and early 2000s. This generation is projected to make up over 50% of the workforce by 2020. Let that sink in – the future of casino is in the hands of this generation. This dominant consumer group is the target market for gambling outlets all over the country.

In order to target this group, it is crucial to understand the mindset of the millennials. Similar to every generation, there are various unique characteristics and qualities instilled in Generation Y that determine their response to present day aspects.

Being the first generation to grow up constantly connected to the world, the millennials are not only technologically savvy but also highly dependent on cell phones and tablets. According to a Pew survey, over 50% of millennials stated that they could not go a day without their cellphones, and 30% went further and narrowed that to a few hours. Many described their relationship with their smartphones as an emotional investment.

Now imagine a millennial, obsessed with the technological advancements in the digital age, sitting down at an outdated slot machine. It’s a sight that does not exist in large numbers anymore, compared to ten years ago. To appeal to the younger generation, slot machines are being taken out of many casinos and being replaced with table games. Steve Norton, a casino owner, stated “You want to develop good customers now so that we don’t become the horse racing industry of the future, where all of our people have died off and we don’t have any new blood coming in”.

A new trend is being introduced in many casinos recently; electronic table games featuring live dealers. Casinos are banking on the blend of live table games, lower minimum-bets, and an easy and entertaining interface to appeal to the millennials. These electronic tables games are incorporating popular themes, such as Star Wars, basketball, and other trends. Parx Casino, near Philadelphia, recently revealed a Shaquille O’ Neal-themed electronic blackjack game with a “stadium-style” arrangement around a live dealer.

When it comes to placing a smart gamble on a casino stock, look no further than Vail Resorts (MTN). MTN is currently trading at $130.57 as of April 21, up $7.82 with an increase of 6.37% within the last three months. Over the course of the year, MTN has shot up 28.46%. Many analysts have predicted the stock to rise up to $146, signaling for a strong buy. Vail Resorts last issued an earnings result on March 10th, stating a $3.14 earnings per share (EPS) for the quarter. The firm earned a staggering $599 million during the quarter compared to the projections of analysts at $588 million. If you want to place a smart gamble, MTN is the way to go.

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