The U.S. casino industry faces a number of difficulties, but money and ticket counters can help facilities stay more competitive. This tool gives casinos a way to increase efficiency without raising operational costs. One of the biggest issues land casinos face right now is online gambling.
While Las Vegas casinos have maintained healthy revenue streams in the past few months, many operators are still concerned about the threat of online gambling. Some casinos are even petitioning state legislators for a ban, according to Vegas Inc. Currently, online gambling is allowed in states where casinos are legal based on a reinterpretation of the U.S. Wire Act of 1961. However, not all states have started online gaming, so it is unlikely that there will any Congressional action in the immediate future.
How physical casinos can rise to the challenge
While online gaming has certainly changed the casino industry in the past few years, it may not be as bad as operators think, Forbes reported. Some states are enacting online gambling to increase tax revenues, but it has not had the impact people have expected. Online gambling behavior is different than in physical locations, and many people still prefer land casinos.
One issue casinos may be facing is the right mix of online and physical gambling. Forbes suggested facilities are spreading themselves too thin by focusing on both these efforts and need to channel investment into either land or online gambling, but not both. This will ensure better revenue.
In addition to honing efforts on physical casinos, operators can implement money and ticket counters. By boosting the efficiency of ticket processing, employees can focus on other initiatives, such as offering top-notch customer service. This can help physical casinos stay competitive, even as online gaming gains a stronger foothold.
August 11, 2014