They take into account your life experience and the transferable skills from that to your chosen degree, and expect in general a higher work rate and ethic, low drop out rate and you are seen as a positive statistic that will contribute to the Universities drop out / completion rates.
Elitism is pretty dead really, its all about the money. Mature students have a good rep with most Uni's..
A good example of my experience being used, is my career in sales being used heavily in my personal statement for a joint honours in psychology and marketing. Recieved an Unconditional offer. Cant say for sure but alot of it is down to your personal statement, and alot of that is using your life experiences to sell yourself really. Plus the grades on the course no doubt.