A new study of spending by millennials released today by New Jersey’s Lloyd D. Levenson Institute of Gaming, Hospitality & Tourism finds the prized demographic enjoys dining out, drinking and nightclubs and would likely gamble more on slot machines that involve an element of skill.
There are more than 83 million millennials, defined as those born between 1980 and 2000. They now outnumber the 75 million baby boomers and represent more than 25 percent of the nation’s population, according to the U.S. Census Bureau figures.
Which renders them “of major significance to the casino industry and to our region’s future economy,” said Rummy Pandit, executive director of the institute, which is located at Stockton University about 15 miles inland from Atlantic City.
The study, based on a survey of more than 500 millennials and non-millennials from New Jersey, New York and Pennsylvania, was funded by four Atlantic City casinos—Borgata, Tropicana, Resorts, and Harrah’s Resort—and the N.J. Casino Reinvestment Development Authority. It was led by Jane Bokunewicz, assistant professor of Hospitality and Tourism Management Studies at Stockton.
The survey found that millennials were most interested in casual dining and nightlife and less expensive accommodations such as mid-scale hotels and those found on AirBnb, an apartment-sharing app. “All-inclusive” resorts also were cited as a consideration in both millennials’ and non-millennials’ travel planning. Free Wi-Fi was the top amenity cited by both groups in considering accommodations.
Unlike non-millennials, 30 percent of millennials indicated that public transportation is important to them. Only 7 percent of non-millennials said the same thing.
“Uber is important to this demographic,” Bokunewicz noted.
The study recommends that Atlantic City work with the company and other ride-sharing providers “to allow them to operate efficiently in the city without creating barriers to entry”.
Most of those surveyed in both age groups had visited Atlantic City in the past year, and 91 percent of those who had viewed the city as “positive, very positive” or “neutral” as a destination.
As casinos have learned, millennials prefer playing table games (57 percent in the institute’s study) but they do play slots (44 percent of those surveyed. Most prefer to play with family or friends, as opposed to older gamblers, who play alone. However, both groups would like slots to include an element of skill.
“I think the slot machine manufacturers are on the right track in developing these types of games,” Bokunewicz said.
