Casinos need ways to reduce the cost of operations to maximize profits, and money and ticket counters present an opportunity to do just that. Labor costs are a major part of overhead, and reducing the number of staff needed at the cash desk can make a positive change in overall hours worked. After all, customers can come in at any time and request their winnings. To make this process quick and efficient, ticket counters utilize ticket in, ticket out reading technology that automatically identifies how much money a winner receives, and then sorts it accordingly. With this level of automation, casinos can reduce the number of people that are needed at the cash desk, thus cutting down on overhead.
While Las Vegas remains the casino capital of the world, competition from through out the country means that the profits gaming resorts enjoyed there are in decline. Operators have to subsequently get clever about maintaining a steady profit margin for expansion and to placate shareholders.
One cost-saving measure recently gaining popularity among these casinos is control of power generation. Currently, all residents of Nevada must buy and receive power from NV Energy, the state's monopoly on electricity generation and transmission. The Las Vegas casino resorts are among the largest and most lucrative customers of the power company. At the same time, these businesses now want to generate their own power and purchase it from competitors, according to the Las Vegas Sun. They're looking to take advantage of low natural gas prices and customer demand for businesses to use renewable energy.
Because of the immense size and influence of these large facilities, an exit would adversely affect the rest of the state's residents and businesses in the form of higher electric bills. Nevada law requires businesses wanting to discontinue service with NV Energy receive approval from the state Public Utilities Commission, generate new power to the electric grid and pay an exit fee. Recently, the PUC announced that the casinos combined would have to pay more than $128 million in exit fees in order to leave the power company. The fees take into account several factors that ensure the rest of NV Energy's customers won't suffer from the loss.
Seeking alternate means of generating and using electricity is one way casinos can cut down on operations costs. So can money and ticket counters. With an efficient means of giving customers their winnings, gaming centers can make their employees more flexible in their duties. That helps bring down the cost of labor, a major component of operations.
October 21, 2015