Resorts World given head start in cashless gaming revolution
A casino equipment and lottery services providers said cashless technology gives customers the option of a contactless, safe and effortless gaming experience.
GGR Asia reports that equipment provider International Game Technology said that its recently rolled out equipment in upstate New York could pave the way for more cashless and contactless technology for casino players.
In a media release, IGT quoted Ryan Reddy, the group’s vice president for global systems and payment products, as saying: “IGT’s Resort Wallet solution gives Resorts World Catskills the early-adopter advantage among commercial casinos in the state of New York, with the debut of cashless gaming at their property.”
The Resort Wallet product is part of the IGT Advantage product suite, and is available as an add-on module for casino operators using the IGT Advantage casino management system, stated the company.
According to the release, players would “benefit from the safety of minimising cash handling and the convenience of accessing funds any time.”
The company added the product “also generates greater operational efficiencies by reducing cash handling costs and associated safety and security risks.”
IGT said in a separate release that it would publicise some of its “high-growth potential” products, such as “cashless gaming technologies, sports betting and digital gaming”, at the virtual version this year of Global Gaming Expo, a casino industry trade show and conference usually held in Las Vegas.
The in-person event will not take place this year due to the coronavirus pandemic.
The firm’s “IGT Advantage” casino management system and cashless Resort Wallet were examples of products that could “help operators modernise the player experience, increase player safety and reduce in-casino dependency on cash handling an in-person interactions,” the firm said.
Cashless casino payment methods are few in number
The American Gaming Association has released a report that providers a framework for regulatory flexibility allowing digital payments on the casino floor.
Yogonet reported in June that according to the AGA, enabling payment choice allows casino customers the ability to supplement cash with safe and secure digital payment options on the casino floor.
This not only improves responsible gaming efforts by equipping customers with digital tools to help them monitor their gaming and set limits, but also provides operators, regulators and law enforcement increased transparency into matters of anti-money laundering and monitoring of financial transactions.
In early 2019, the AGA convened a working group of members to evaluate the regulatory, processing and consumer landscape related to expanding payment options on the casino floor.
The Payments Modernisation Policy Principles, the product of that collaborative effort, seek to educate state and tribal regulators who are considering expanding payment choice.
It included a number of points including the ability to equip customers with more tools to wager responsibly, give customers payment choice and convenience, ensure state laws enable a flexible regulatory approach and address heightened public health concerns.
Recent AGA research found that 59 per cent of past year casino visitors are less likely to use cash in their everyday lives because of the COVID-19 pandemic.
This translates to customer preferences on the casino floor, as 54 per cent indicate that would be very likely to utilise a digital or contactless payment option when they gamble.
Presently, a small number of casinos use such payments, which include debit or credit cards, as well as apps like Apple Pay, Google Pay and PayPal.