TITO readers an important asset as casinos change hands
Casinos have a lot of tangible assets at their disposal, and money and ticket counters are no exception. These machines serve as the modern foundation of the cash desk. When customers visit, they have only one demand: their winnings, fast. With these machines, that's an easy proposition. Through ticket-in, ticket-out technology, clerks only need to scan the barcode, and the money gets counted and sorted automatically at a rapid pace. This enables a speedy run through the line as well as an ideal customer service experience, which will be the defining element at many gaming halls in the years ahead.
Despite so many buyouts, money and ticket counters stay put
The casino industry is like any other big business, and occasionally a wave of buyouts, acquisitions, mergers and sell-offs occur to keep the money flowing. The most recent movement comes from MGM Resorts International, one of the largest casino businesses in the world. It seeks an exit from Reno, Nevada to concentrate on other major properties, including its development of a casino in Springfield, Massachusetts. There was no shortage of potential buyers in that situation, and eventually the powerful Nevada Gaming Commission gave its blessing to the buyout.
World Casino News reported the commission confirmed the purchase of the Circus Circus Reno as well as the remaining half of Silver Legacy by Eldorado Resorts. Along with the Eldorado Casino in downtown Reno, the company now runs six properties in five states. Within the city itself, it controls 32 percent of all the hotel rooms, giving it significant revenue sources during major events. It looks to take advantage of a recent economic boom in northern Nevada.
That wasn't the only buyout approved by the Nevada Gaming Commission in November 2015. Another big purchase was of the remaining 35 percent of the Golden Gate Casino in Las Vegas by its majority owner Derek Stevens. Previously, the Brandenburg family, which founded the Golden Gate in 1906, held on through President and former owner Mark Brandenburg. In addition, Stockbridge Capital Partners bought back a 10 percent stake of its SLS Las Vegas, previously held by Sam Nazarian.
With casinos changing hands so often, it's in the best interest of the management to keep some things intact. Money and ticket counters are one thing to keep around. With efficiency and speed a benefit of these machines, it will help ensure quality customer service remains a priority.