Penn National Gaming CEO Timothy Wilmott says his company is not pushing to introduce skill-based games into the 27 casinos it owns or operates in the U.S. and Canada.
Speaking to analysts on a conference call to announce the Nasdaq-listed company’s third quarter results, Wilmott said that while Las Vegas may be attracting a younger demographic, “Sixty percent of our revenues come from customers between the ages of early 50s to early 70s, the heart of the baby boomers, and that hasn’t changed much.”
“Over the next, say, five to 10 years, I’m of the belief that focusing on millennials is not going to produce good economic results,” he added.
Rather, PNG, which operates in 18 U.S. states and one Canadian province, will focus on ”the 50 million group of Gen-Xers out there that will be moving into the period of when they become more interested in casino entertainment,” he said.
He did, however, speak highly of the company’s expansion into social gaming with moves like the purchase of Rocket Games, “an attractive addition,” as he termed it, to PNG’s remote gaming arm, Penn Interactive Ventures.
Interactive’s operations are “profitable, growing and provide synergies to our casino business,” he said.
PNG saw revenues company-wide increase by 3.5 percent year on year in the third quarter to $765.6 million. Earnings were flat at $211.3 million but net income rose tenfold to $46.5 million.
