Try making him collide with reality: stop paying for certain bills. Don't throw him on the street, but basicaly: you want to play games? No problem: but you need to have the money to be able to pay for internet, food, electricity etc...
Show him that in real life there is no problem playing video games as long as he knows that you need to have money to support that thing.
This is also my stance on parenting. Mine are 9 & 11, but I always try to view the place they are at now vs the 'hello reality' future (18-20ish?) and raise the expectations on what they can do along the lines of the imaginary slope connecting now until then.
And I explain it to them. It's coming, it's real, you'll have to do so many things -- but that if these things are learned at a consistent steady pace, I imagine a bit less earth shattering than the notion of do whatever you want, until life beats you up.
Parenting, all about preparing them for their future in all the ways, or at least giving it your best shot. Communication here, like in everything, is key.
Show him that in real life there is no problem playing video games as long as he knows that you need to have money to support that thing.