Casinos across the nation are suffering from a generation gap, especially at the slot machines, as young people seek more exotic electronic games like the ones they can play on smartphones from anywhere.

Casinos are facing a generation gap, which spells trouble for the states that depend on them for tax revenue.

Casinos across the nation are suffering from a generation gap, especially at the slot machines, as young people seek more exotic electronic games like the ones they can play on smartphones from anywhere.

Finally, the Internal Revenue Service is considering ideas to rewrite current gambling-related tax rules, including possibly lowering the threshold for mandatory reporting of slots and bingo winnings from $1,200 to $600, reports Bloomberg Business.

Nothing kills the thrill of a big-money win at the casino quite like a tax form—and soon the grasp of the taxman could be felt before the jackpot celebration stops at a lucky slot machine.

The University of Nevada, Las Vegas offers a program where students have the opportunity to create and patent casino games for the $100 million-a-year industry. Ben Tracy reports.