Las Vegas Gaming Wire
LAS VEGAS -- Middle-aged tourists' have bigger gambling budgets than do senior citizens and visitors in their 20s and 30s, Las Vegas Convention and Visitors Authority statistics show.
The results, culled from the 2002 Las Vegas Visitor Profile Study, reflect the relative wealth of each age group, authority Research Director Kevin Bagger said.
And that's why almost all casinos target people between 50 and 64, gamblers' demographic sweet spot, University of Nevada, Las Vegas professor Bill Thompson said.
Among visitors who admit gambling during their Las Vegas trips, gamblers in their 20s said they had per-trip gambling budgets of $377, the smallest number of any age group measured.
Each successively older age group admits to gambling more than younger groups admit, until a slight drop-off from the $608 reported by those 50 to 59 to the $605 admitted by the 60 to 64 age group.
Those in the 65 and older category report a big drop-off, to $472.
"The numbers mirror the wealth of each age group," Bagger said.
Demographically, the average person at 25 or 35 is more likely to have lower-paying jobs than those in their 40s and 50s, and the expense of raising children also contributes, Thompson said.
"These people over 50 have higher incomes, more vacation time and empty nests," Thompson said. "Unlike people with kids at home or in college they don't feel guilty about blowing a thousand bucks."
Retirees typically experience a drop in income, explaining the drop in gambling budgets for those older than 65, he said.
Thompson said almost every Las Vegas casino markets to the 50-plus market, noting that even places that attract a lot of younger customers because of less expensive room rates can't afford to alienate older customers.
"Age is important, but money's most important, and the big places want everyone with money," he said. "The one beautiful thing about these (authority) numbers is that 10,000 people turn 50 every day, and that'll keep happening for 10 years. That's a beautiful thing for the casino business."
The authority recognizes that gambling is a sensitive subject for tourists being surveyed.
"People aren't as candid about gambling," Bagger said. "They won't necessarily provide how much they won or lost."
The authority surveys visitors within 24 hours of the end of their Las Vegas trips. Those who admit gambling are to quantify their gambling budget for the trip.
Visitors are surveyed on and near the Strip, downtown and on the Boulder Strip, Bagger said.
http://www.casinocitytimes.com/news/article.cfm?contentID=137486
LAS VEGAS -- Middle-aged tourists' have bigger gambling budgets than do senior citizens and visitors in their 20s and 30s, Las Vegas Convention and Visitors Authority statistics show.
The results, culled from the 2002 Las Vegas Visitor Profile Study, reflect the relative wealth of each age group, authority Research Director Kevin Bagger said.
And that's why almost all casinos target people between 50 and 64, gamblers' demographic sweet spot, University of Nevada, Las Vegas professor Bill Thompson said.
Among visitors who admit gambling during their Las Vegas trips, gamblers in their 20s said they had per-trip gambling budgets of $377, the smallest number of any age group measured.
Each successively older age group admits to gambling more than younger groups admit, until a slight drop-off from the $608 reported by those 50 to 59 to the $605 admitted by the 60 to 64 age group.
Those in the 65 and older category report a big drop-off, to $472.
"The numbers mirror the wealth of each age group," Bagger said.
Demographically, the average person at 25 or 35 is more likely to have lower-paying jobs than those in their 40s and 50s, and the expense of raising children also contributes, Thompson said.
"These people over 50 have higher incomes, more vacation time and empty nests," Thompson said. "Unlike people with kids at home or in college they don't feel guilty about blowing a thousand bucks."
Retirees typically experience a drop in income, explaining the drop in gambling budgets for those older than 65, he said.
Thompson said almost every Las Vegas casino markets to the 50-plus market, noting that even places that attract a lot of younger customers because of less expensive room rates can't afford to alienate older customers.
"Age is important, but money's most important, and the big places want everyone with money," he said. "The one beautiful thing about these (authority) numbers is that 10,000 people turn 50 every day, and that'll keep happening for 10 years. That's a beautiful thing for the casino business."
The authority recognizes that gambling is a sensitive subject for tourists being surveyed.
"People aren't as candid about gambling," Bagger said. "They won't necessarily provide how much they won or lost."
The authority surveys visitors within 24 hours of the end of their Las Vegas trips. Those who admit gambling are to quantify their gambling budget for the trip.
Visitors are surveyed on and near the Strip, downtown and on the Boulder Strip, Bagger said.
http://www.casinocitytimes.com/news/article.cfm?contentID=137486
