I started going to Las Vegas regularly in 1968. With the changes in parking, resort fees, etc., I now longer visit. Has the age demographic changed with the increased price gouging and decreased odds on casino games?
Yes, it has. And we'd say significantly, although whether or not it's because of gouging is unclear.
According to the latest visitor-profile statistics from the Las Vegas Convention and Visitors Authority (in its third-quarter survey), the demographic is not only skewing younger, but there's been a noticeable uptick in parents bringing their children. Again, like happened during the previous family-friendly era in the 1990s.
For example, in 2019, the number of families traveling to Las Vegas was around 5% of total visitation. In 2021, it jumped to 21%. Since then, it's hovered around 16%. The bump is directly attributable to the pandemic: Parents were working and children were attending school remotely, so out of necessity, more families were traveling together. But even now that kids are in school, plenty of parents are still bringing them on their Vegas trips.
Another reason is that there's much more for the under-21 set to do, with all the sporting events, concerts, Area 15, digital museums, food halls, and plenty of other traditional non-casino attractions, such as pools, thrill rides, and exhibits.
All that definitely skews the demographic younger.
So does the increase in Millennial visitors. That category, between the ages of around 27 and 42, so far makes up 57% of the visitors in 2023, up from 43% in 2019. Casinos have been trying to attract this cohort for many years, in large part to replace the Boomers, whom we'll get to in a moment. And it looks like they've succeeded, in part due to the younger headliners and residencies, plus the sports and to a certain extent an aging in of casino-game players.
Today, the median age of Las Vegas visitors so far in 2023 is 43.7. Prior to the pandemic, it was 46.2 years, which indicates that older patrons have yet to return in full. Indeed, again in the first nine months of 2023, 9% of visitors in 2023 were 65 and older. In the third quarter, it was only 6%. Compare those to 19% in 2019. Boomers seem to have gotten out of the "habit" of coming regularly to Las Vegas since COVID put them in particular danger and the statistics show that less than half as many ever started coming back.
Our own demographics bear this out.
Finally, we'd say that younger visitors, per force, simply don't have the good old days to rue and compare today's Las Vegas to. They know nothing about ninety-nine-cent breakfasts and shrimp cocktails, $2 steaks and $4.99 buffets, 3-2 blackjack and full-pay video poker, $30 rooms on the Strip, no parking and resort fees, easy comps and cashback, free tournaments, free rolls of nickels and other funbook coupons -- in fact, coupons at all -- and all the other perks that made Las Vegas such a great vacation destination for low rollers.
And we old-timers can bemoan and begroan the slings and arrows of outrageous Vegas fortune all we want, but the fact is, those days are gone for good. Sadly, to be sure. But you can't stop progress, even if it comes at a seriously inflated cost to those of us who remember the loss leaders of yesteryear.
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