Casino operators must begin to treat their venues like shopping malls to attract millennials, according to Oliver Lovat, the Founder and Managing Director of Denstone Real Estate Advisors. Lovat, speaking in a seminar on millennials at ICE Totally Gaming today (Wednesday), revealed the findings of his research into the major gaming market of Las Vegas in the US, with a special focus on those under the age of 40.
He highlighted the fact that many casinos are offering the same layouts as they were half a century ago, even though consumer habits have changed. “The more you get people to come, the more loyalty they’ll give you,” he said. “The gaming industry is missing a trick. In every way the things we are doing now are different to our grandparents, but where is the level of innovation on the gaming floor? “I think you have to compare casinos to shopping malls, which have transformed in terms of the design, layout and amenity set-up over the past 50 years.
“They are very different places even though they are still offering a retail experience. However, they have reinvented themselves for a new generation.” Lovat earmarked the Hippodrome (pictured), the host venue for the 2016 International Casino Conference on Monday, as a benchmark for casinos worldwide.
“It’s a terrific example of an offline and online offering,” he said. “It’s important to make things customer-centric. People don’t want different things necessarily, but they want them in different ways.” Lovat concluded that it was important to look at casinos as “experience centres”. He added: “You have to remember that land-based casinos should be selling experiences. Casinos should be using space differently and increasing food and beverage options. “You can do so much with a casino floor at different times of the day.”