Fifty-three percent visited casinos once or twice per year, 17% said they visited casinos once every three to five months, and 19% went at least once a month.
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Toronto, Canada (PRWEB) February 28, 2015
Refund Management Services (http://www.RefundManagement.com), the number one choice for Canada’s biggest winners for U.S. gaming and casino tax refunds, is weighing in on recently announced efforts aimed at turning slot machines into video games on casino floors in Las Vegas to attract the highly lucrative Millennial market.
While Las Vegas continues to be one of the top vacation destinations for Millennials (those born between 1980 and 1989), the number of those choosing to play slots has dwindled. Efforts are underway to revitalize Nevada’s moribund slot machine business by adding more skill-based games that play like video games. (Source: Ryan, C., “Slot machine biz needs rebirth in Nevada, regulator says,” Las Vegas Sun, February 18, 2015; http://lasvegassun.com/news/2015/feb/18/slot-machine-biz-needs-rebirth-nevada-regulator-sa/.)
The Senate Judiciary Committee heard testimony Tuesday, February 17 in support of Senate Bill 9, which directs the state’s Gaming Commission to adopt regulations to permit the games of skill in state casinos. There was no opposition to the bill, and the committee could vote to recommend its passage by the end of the month.
“Canadian Millennials love Las Vegas, but have become less enamoured with slot machines,” says Brooke Sacks, vice president of marketing and business development at Refund Management Services. “That’s because Millennials play skill-testing video games on their smartphones; by comparison, slots seem pretty dull. This is important because slot machines are the lifeblood of casinos.”
Sacks explains that Millennials continue to enjoy the skill of popular Vegas games like poker and blackjack, but slot machines seem primitive compared to modern video games. As a result, Nevada needs to evolve to attract a younger audience.
Since 2009, the average age of visitors to Vegas dropped from 50 to 45. The share of visitors to Vegas who are gambling has also dropped from 83% in 2009 to 71% in 2013. The move to enhance slot machines and attract Millennials is an important development. Over the next 20 years, Millennials will enter their peak discretionary spending years and become the main players in leisure spending. (Source: Harwell, D., “Vegas’s new bet on grabbing millennials: Turning slots into video games,” The Washington Post, February 11, 2015; http://www.washingtonpost.com/blogs/the-switch/wp/2015/02/11/vegass-new-bet-on-grabbing-millennials-turning-slots-into-video-games/.)
“According to the most recent data, the frequency with which Canadian Millennials visited casinos is increasing,” Sacks adds. “Fifty-three percent visited casinos once or twice per year, 17% said they visited casinos once every three to five months, and 19% went at least once a month.” (Ibid.)
“Canadian Millennials visiting Las Vegas or any other gaming destination in the United States need to remember that their winnings from playing slots will have 30% withheld by the IRS,” Sacks concludes. “The slot and gaming tax recovery experts at Refund Management Services can help non-U.S. Millennials get a portion or all of their withheld winnings back.”
To find out how Refund Management Services can help with U.S. gambling tax recovery, visit http://www.RefundManagement.com.
Founded and owned by a Canadian Chartered Accountant, Refund Management Services (RMS) is the easiest way to get money back. As registered agents of the IRS, RMS helps Canadians and other non-U.S. residents recover all or a portion of their casino and gaming taxes up to three years after their winnings have been withheld. With the expertise in gaming-related tax laws, RMS understands all the IRS requirements to ensure that any entitled refund is successfully recovered. RMS only gets paid for successful gambling tax refunds. Refund Management Services is a member of the Better Business Bureau and the Las Vegas Chamber of Commerce. Contact Refund Management Services toll-free from the United States and Canada at 1-888-272-5559 or e-mail RMS at info(at)refundmanagement(dot)com.