No cash? No problem. That’s the focus of cashless casino gambling, and that’s what regulators in Louisiana, Mississippi, and Missouri just approved.
The lucky company behind these approvals? – Gaming technology firm Acres Manufacturing Company, a Las Vegas-based company. Acres hopes to introduce its cashless tech as the standard for modern gambling.
Acres COO Noah Acres said in a statement:
“We want to thank the regulators in Louisiana, Mississippi, Missouri and in the six states that previously approved Foundation’s cashless gaming solution for their diligent review and approval of our innovative technology.
Each of these regulators have taken an important first step in helping to bring modern technology to their state’s operators that brings added convenience to casino players through an engaging and seamless user experience while providing operators with a powerful tool to grow revenue, attract new guests, and operate more efficiently and effectively.”
Acres’ cashless system is now active at 21 casinos and 31,000 slot machines across the three states it launched in.
How Acres’ cashless system works
In a typical situation, a slot player would enter a casino, then head to a slot machine and use cash or coins to play. Many times, they’ll swipe their loyalty card, too, to rack up rewards.
But with Acre’s cashless technology, everything happens on the player’s phone. A customer can deposit cash into the casino’s app. Then use the phone to deposit cash into a machine. And also activate their loyalty card when using a slot machine.
“Cashless Casino also allows gaming operators to transition away from physical player cards, kiosks, and direct mail, all of which are quickly being abandoned by other industries,” the company noted. “It also has the added benefits of maximizing operating efficiency and driving a better overall player experience.”
Company sees cashless casino gambling as the future
Acres believes that cashless casino play is a much-needed trend in casino gaming. Other niches in the hospitality industry have seen the value of cashless transactions. For example, people can use cashless technology for their entire visit to Disneyland or Disney World.
While moving to cashless offers convenience for the customer, the biggest advantage relates to the casino’s bottom line.
“The core belief that drives our commitment to technology innovation is that the gaming industry’s lack of modernization is costing it billions of dollars in lost revenues,” Acres said.
Cashless gambling can reduce a casino’s expenses. It may also be able to help them connect with customers under 50.
“Having grown up with the advantages that technology innovations offer in their consumer transactions, the introduction of a seamless cashless gaming experience will be critical to foster their consistent engagement with casino floor offerings,” the company pointed out in a recent white paper.