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Do Millennials Get Any Respect From Strip Casinos?

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Ethan Miller/Getty Images

Every three years, casino giants and the media press the flesh on the Las Vegas Strip for the International Conference on Gaming and Risk Taking.

This year, Steve Wynn returned to his former casino, the Mirage, to give a keynote speech. And he didn’t disappoint.

Wynn said some things that raised eyebrows, especially about the clubbers who he said earn his casinos about $40 million annually.

"I walk into the clubs and I say to myself, either we have attracted every moron in the world, or there's something about the sound that allows normal people to check their sensibilities at the door," he said, adding later: "We made $40 million a year with the damn things, I guess we gotta put up with it."

Despite that, Wynn Resorts stock rose slightly after he spoke.

Chris Sieroty is the U.S. editor of Gambling Compliance. He told KNPR's State of Nevada that much of what Steve Wynn said was just "Steve being Steve."

"He's at the point where I don't think he really cares if he's attracting millennials,"  Sieroty said, "He knows they're going to come there and spend money anyways."

J.D. Morris reporter for the Las Vegas Sun agreed that millennials are not going to care what the CEO of a company said about them. 

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"I think they're going to go to XS because Diplo is there or because they heard that it is the best nightclub in the country by some respects," Morris said. 

Sieroty said Wynn has been successful by courting the older affluent customer while also bringing in younger customers who want to go to great clubs.

During his address, Wynn also said that non-gaming elements are clearly more important. Sieroty said those non-gaming offerings include restaurants, spas and shopping. 

An example of that emphasis on non-gaming is Wynn's new plan for Paradise Park that he is planning to build behind the Wynn Las Vegas Hotel-Casino. The park is supposed to be centered around a large lake and will include more restaurants and shopping with only a small casino.

"It seems like it really as a lot to do with wanting to give Las Vegas visitors something new and exciting to do during the day," Morris said. 

 

Guests

Chris Sieroty, U.S. editor, Gambling Compliance; J.D. Morris, Las Vegas Sun reporter

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