Competition in the U.S. gaming industry can be fierce, but tools such as money and ticket counters can help casino managers increase operational efficiency so as to stand out from other institutions.
Because there are only a few states in the U.S. that allow gambling, organizations must compete closely to attract customers and generate enough revenue to create meaningful returns on investment. A recent report from The Associated Press highlighted the fact that difficult economic times in Atlantic City, N.J., recently caused one of the area's mainstay institutions to shut its doors for good. The Atlantic Club, which operated for 33 years, fell prey to market trends, as two rival companies purchased the property for a combined $23.4 million earlier this year. The AP reported that the Atlantic Club had been struggling to keep up with larger organizations in the area.
Similar competition is happening in Ohio. According to WCPO, an ABC affiliate based in Cincinnati, the introduction of a fifth gaming institution in the city in December has made it more difficult for existing establishments to make the most of available revenue opportunities. Casino revenue in the area was already scarce because of spending-averse consumer behaviors in light of the recession. In fact, total income from the five area casinos totaled $51.3 million in December, which is 0.7 percent lower compared to November.
As gaming businesses compete for revenue, eliminating back office inefficiencies may prove to be a valuable strategy. Some casinos have found ways to differentiate themselves from the rest of the market by offering a variety of other entertainment attractions besides gambling machines. Instead of having these events create more work for managers and employees, automated money and ticket counters create more time in the day to focus on other important projects.
January 28, 2014