Casinos’ fascination with Millennials appears to be a one-way street. A new survey by YouGov found that 47% of respondents ages 18-34 found casinos “depressing.” (I think I know what they mean.) As a matter of
fact, older age brackets didn’t find the casino experience so hot: 41% of those aged 35-64 also got a downer vibe from the casino floor. The 65-plus demographic was most supportive of the casino experience. Young people prefer online gambling, with 50% of the Millennials favoring its legalization, and the 35-49 demographic 52% supportive. Of more concern to us is the revelation that Millennials are experiencing anxiety, depression and suicidal ideation than has been the case in generations previous. There’s not much the casino industry can do about that, but it should be of concern to decision makers in state houses everywhere when they haggle over mental-health funding. Sheldon Adelson may think he can force Millennials onto his casino floors by getting Web betting illegalized but he’s got another think coming.
* Over at Wynn Resorts, the shareholders are revolting. While the details of a new executive-compensation plan weren’t disclosed, stockholders rejected it like a fastball, voting 80% against. Given all the nonfeasance of late in the Wynn executive rank, shareholders have a right to say “Not so fast, buddy.”
* Remember that eye-grabbing new ad campaign that the Las Vegas Convention & Visitors Authority unveiled this week? They’ll have a big war chest to buy airtime now that $101.5 million, more than a quarter of the LVCVA’s operating budget, has been earmarked for ad buys. That’s a bit less than last year but shows the primacy of getting the word out about Sin City, especially with a 10-month slide in visitation. The LVCVA helped make room in the budget with some trims in other areas, like the abandonment of Cashman Center. In other hand, $800 million has been pledged toward sponsorship of Las Vegas Ballpark in Summerlin, spread out over 20 installments.
* Benny Binion‘s statue at South Point has been all blinged out in Golden Knights gear, another testament to the team that has captured Las Vegas‘ imagination. South Point owner Michael Gaughan suggested the number 00 as a nod to Benny’s favorite caliber of ammunition. When the Oakland Raiders come to town will Benny be decked in gang colors? Only time — and Gaughan — will tell.
* We don’t have Greek Mythology Casino (where Roman centurions anachronistically stood guard) to kick around anymore. Darn those Macao business disputes. They’re taking all the fun out of this job.
