Non-Gaming Products Key to Casino Industry's Success

Non-Gaming Products Key to Casino Industry's SuccessThe gambling industry led by Las Vegas has been evolving and placing a greater emphasis on its non-gaming products for several years now. In 2017, the extent to which this sector has now grown subsequently became apparent after it was revealed that between 55 and 65 percent of all revenues generated by casinos in Nevada are derived from non-gaming entertainments, such as hotel accommodation, restaurants, clubs, and shows.
Contributing to such a radical change in how the gambling industry operates is the need to adapt to a different economic landscape following the worldwide recession at the end of 2007, as well as the need to better cater to the requirements of millenials.
The changing focus on non-gambling entertainments has also been adopted internationally, as can be seen from the proliferation of integrated casino resorts currently being built around the world. One such place is Macau, which also had the added incentive to expand the range of its non-gaming products after the Chinese government launched its anti-corruption campaign, in the process resulting in a dramatic fall in the number of high roller gamblers visiting the country’s only legal gambling resort.
In this way, Macau was then able to appeal more to the mass market, with US companies operating in Macau leading the way, including Wynn Palace with its SkyCab” ride, and the Las Vegas Sands’ Parisian which has its own shopping center, water park, and Eiffel Tower replica.
Back in the US, casino operators have also had to add a new twist to the gambling machines which they do offer in order to attract a younger customer. This is especially true of the lucrative slots segment, with the emphasis now on skill-based machines and competitive video gaming.
Finally, more vintage types of performers such as Cher and Celine Dion are being replaced with names which resonate more with millenials, such as Britney Speers, Mariah Carey, and J-Lo. Furthermore, the NFL’s Oakland Raiders relocation to Nevada as the Las Vegas Raiders provides another example as to how diversification into non-gaming activities is now the key focus of the gambling industry.

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