Evolving the Casino from Transactional to Experiential

Evolving the Casino from Transactional to Experiential

October 16, 2019, 1:00 PM - 1:15 PM

Expo Hall: Innovation Lab Booth 5833
Language:
English
Today, we are living in the experience economy. The Harris Poll recently reported that 78% of millennials prefer spending money on experiences over goods. Clearly younger consumers prefer experiences over transactions. Casinos have an unbelievable opportunity to capitalize on what's going on in the experience economy. From amazing infrastructure to being the best at the VIP experience, many of the ingredients are there to be a dominant force in the emerging experience economy. However, a key differentiator for casinos is the thrill and excitement of gaming. On the Las Vegas Strip, 1999 was the last year in which gaming revenue was a larger percentage of overall revenue compared to non-gaming revenue. However, by focusing on non-gaming, casinos are now competing with an ever-wider marketplace of location based entertainment, family entertainment centers, music festivals, "culture museums", and myriad other offerings (including the inertia for consumers to simply stay home and play video games or watch Netflix). Gaming can be a key part of the mix which can push casinos into the front-runner position in the experience economy race. This fast-paced PechaKucha-style session will envision The New Casino and clearly lay out the steps to how our industry can evolve casinos from transaction to experiential and capture the next generation of customers.

Contributors

  • Blaine Graboyes

    Speaker

    CEO

    GameCo

    Blaine Graboyes is CEO of GameCo, the inventor of the video game casino and the first company bringing skill-based video game gambling to the casino...

Program Type

  1. Program Type
    Presentation

Categories

  1. Track
    Innovation Lab

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