"Cash only, thats the way" .... oh really?

The opposite of cash-only is ??

Casino Credit .... the phrase alone has associated images of Robert de Niro giving out massive amounts on a whim, and Joe Pesci collecting it using a variety of not-so-technical collection "techniques".

Well there may or may not have been some truth in that in years gone by, but in the land of regulation and taxes that we all live in these days its nothing like that, anywhere off a Hollywood set.

There's nothing less profitable than a dead punter, what were they thinking?

Why don't Casino software developers cater for corporations?

OK, we accept that if you're investing in Casino software development, you want maximum bang for your buck!

So, you take the safe route and develop where you expect to make the most in the short term . So sort out slots first, get the operation going, improve it as you continue to roll that big cash machine along.

It's competitive out there so youd better make sure you add value and differentiate your product.

When the marginal benefits of development are less for slots than the likely profit of new module sales, move on and develop again. Slow and steady wins the race...

Casino Credit

"Very much maligned and misunderstood ...."

To understand the relevant issues around Casino Credit, lets unpack what your are dealing with here.

What are the characteristics of those transactions?

• They are discretionary at the option of the operator, a client cannot demand a credit line, it is a privelege, not a right (but they can, and will try!).
• In most cases these transactions will carry a significantly higher average value than other non-cash transactions which carry less risk
• They (in general) are applied only to well-known clients (who trusts a stranger?)
• A reputational obligation is created at point of initiation that is equal to the value (i.e. should all be well with the client, you will have a tough job explaining why you would take it away).
• A debt on your books has been created which requires management intervention and internal explanation
• As opposed to a cash-only player, the potential for a future negative change in the relationship is now a possibility (e.g. how will non-payment affect the relationship, would the company ultimately pursue payment, will the client play with your competitor when they are outstanding?)
• They (or rather, you) now have the potential to over-extend the client if the privelege is handled incorrectly or is abused. You cant blame the credit card company any more.
• They have the potential to create significant revenue where otherwise there would be none.

So, you gonna make a decision or not?

All that has to be weighed up before you advance any value on "trust". It's not the same at this level as anything else in the transactional spectrum. So, in a nutshell once more, will it be worthwhile?

The answer is yes it is beneficial to revenue, but there are a few rules.

Give us a call, or check out our services at http:www.cashefficient.net

Cash costs

Ever stopped to think about how much handling, storing and managing all that cash costs your casino and/or hotel business? It WILL be a lot more than you think. 

Once you have arrived at the total for your labour, equipment, maintenance, building, support labour, and count consumables costs, take a really deep breath and establish your banking, CIT and insurance costs, add to that the lost opportunity cost of your residual "dead" cash in cage, machines and cashier floats and you begin to get the big, and very expensive, picture. 


Surely there has to be a better way?

Until we create a cash-free society, we must live with the burden of carrying a cash float of some description, but that doesn't mean that we have to do it the same way we always have, and it certainly doesn't have to cost anything like it used to.

Well the good news is that there is, or rather there are, cheaper and more efficient ways! With our help you can knock a hole the size of a CIT truck in your cash handling costs. 

Cash Efficient - it all makes sense.

www.cashefficient.net
 

Where do we go from here?

Well, we got rid of coins and all that backbreaking count and cashiering labour, we don’t have coin hoppers to keep the techies busy or make that welcoming clacky racket. We should be making a substantially better ROI than before, but surprise, surprise, technology isn’t cheap, and it can bite you. You need to choose carefully. 

We now have tables games that don’t need dealers or inspectors, and if you've got enough of them, you dont even need any expensive middle management! Don’t need dirty chips either. "Place your bets please" can be expressed in every language known to man (including one that seems to be a little known Chinese Yak farming dialect). You can have that language spoken to you by any pseudo-sexy whisper or rasping growl within the human audible range. Superb and flexible technology if accompanied with the personal touch.

Self service machines now perform cashiering functions faster and cheaper than cashiers do, and they don’t take sickies or give backchat, but no chance of a smile, friendly joke or a shoulder to cry on when you’ve lost your lot. Big opportunity to improve your ROI, if you do your costings right, and don’t forget the warm and fuzzy.