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I think the point is just that young people don’t participate as much as they would because they don’t have the money for it. In previous decades young people had more money to spend.
The relative costs of computers, consoles and games themselves is significantly lower today than in the eighties.
We’d need per capita data over time for each age group to conclude that. Might be in the actual study, but it’s behind an absurd paywall (3000 UK pounds). I think it’s plausible that both groups have been increasing over time, but over 55s increased more. There is probably a hard limit on how many young people are going to enjoy gaming, whereas there is a lot of growth to be had in the over 55s group (as historically, few played games).