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The casino industry may be too risk-averse to lure in younger customers. SHORTLY after Mark Frissora took over as chief executive of Caesars Entertainment last year, he paced the floors of his American casinos, with their rows and rows of idle slot machines, and grasped the scale of the existential threat that faces his industry.

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  • SHORTLY after Mark Frissora took over as chief executive of Caesars Entertainment last year, he paced the floors of his American casinos, with their rows and rows of idle slot machines, and grasped the scale of the existential threat that faces his industry. Casino customers are ageing, and younger people  Missing: zodiaco ‎maya.

Casino customers are ageing, and younger people have little interest in taking their place. Mr Murren has convened a committee of millennial employees to work out how to keep the business relevant to future generations. Receive our Daily Dispatch and Editors' Picks newsletters. These offer a glimpse of a casino of the future that looks very different indeed.

There are gravity-free rooms where you can literally climb the walls; LED screens that continuously change interior backgrounds; and combinations of gambling machines and virtual-reality shoot-em-ups that allow you to bet on how many monsters you and your friends can blast away. Instead of individuals standing solo at one-armed bandits, groups of players might compete against each other over wireless-enabled consoles offering a menu of wagering games.

Hip, high-tech casinos sound like a lot of fun. But they may not come into being. Building and maintaining them would be expensive, and in the end they still might not appeal to younger people.

More to the point, gambling executives may not have the stamina to see the projects through. Most of them today are curiously short of two things: Smartphones and consoles make traditional slots and table games look stodgy.

Some people worry that casino firms will become like Blockbuster, a film-rental business annihilated by the internet. Alex Bumazhny of Fitch Ratings suggests they might become like Xerox machines, used less frequently but not entirely obsolete.

The signs of stagnation are clearly visible.

In Atlantic City revenues have halved since One was a change in how Las Vegas made its money. Two magnates, Sheldon Adelson and Steve Wynn, led its transformation in the late s from Sin City to a convention and entertainment destination. Mr Adelson built the Sands Expo and Convention Centre, the first private convention venue in the city, and Mr Wynn built The Mirage, a casino resort with 3, rooms—and white tigers—that opened in Everything built on the Strip since has been an attempt to build bigger, better Mirages.

The strategy has worked there—non-gaming revenue now accounts for almost two-thirds of all money that comes in, much of it from hotel rooms. Outside Las Worldwide Casino Zodiaco Maya, however, casinos still depend on gaming revenues.

The lack of fresh thinking to attract new dollars is painfully apparent. The second boost came from the rise of Macau as a gambling destination for Asians, especially Chinese.

The Las Vegas Strip, for its part, can continue to expect modest increases in non-gaming revenues. Casinos everywhere else are badly stuck.

As Mr Murren notes, many have become commodities. The typical casino floor today welcomes visitors with loud carpeting, cavernous rooms and an ocean of slot machines. Even on the Strip, young nightclub-goers pass by the gaming areas. The industry is not best-placed to do much about its lack of appeal to the young. Casino companies and slot-machine makers are heavily indebted, an overhang from the financial crisis and a series of debt-financed projects Safe Online Casino Australia consolidations.

Caesars is only now emerging from bankruptcy. High interest payments have kept Las Vegas Strip operators in the red for much of the past decade. Even so, it would not be impossible for them to invest. But they would have to answer questions from shareholders. A strategy that takes away traditional slot machines or gaming tables that older people are known to like, to take a chance on something new for the young, is hard to buy into.

Even though Mr Frissora and Mr Murren, among others, have made it clear that they want new types of games to attract younger customers, established makers of slot machines, themselves heavily indebted, have evinced little interest in undermining their existing business with costly, Casino Trips To Biloxi From Florida new games. Mr Frissora, for instance, wants to open up their gaming platforms to allow young players to choose their games and compete against each other on the casino floor.

Instead, slot-machine companies have innovated on the margins, says Melissa Price, an executive at Caesars. These make money but they are not game-changers, she says. Startups have been readier to invent.

At the Global Gaming Expo in Las Vegas in September, crowds lined up at the booth of Gamblit Gaming, a California startup, to try out its wager-ready version of The Brookhaven Experiment, a virtual-reality first-person shooter game.

Players can bet on such outcomes as their accuracy in shooting down monsters. The video-game gambling machine, as GameCo calls it, is another first-person shooter with no VR headsetin which the enemies are vicious robots. Inside the industry, some executives look askance at what Caesars and MGM are planning. Video-arcade-style games might appeal to the young, they say, but not in large enough numbers to keep casino revenues high. One argument that traditionalists make is that once millennials have some money in their pocket, a bit later on, they will come and gamble at a conventional casino just like their parents did.

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