Casino gaming, with a global market value of approximately $150 billion, is the largest and most profitable form of legal gambling. Over the years, the casino business has undergone a tremendous change, with numerous small amusement halls converting to resort casinos, offering everything from accommodation to restaurant to entertainment options. The advancements, however, have brought with them major cash management challenges that call for state-of-the-art processes and tools. Cash handling process is one of the important areas for casinos; if tapped right, could majorly impact the efficiency and growth of the casino.
Best Practices of Casinos Operations
Preparation and Processing
Casinos have machines to count, identify and authenticate banknotes. All the kiosks, tables, and slots are consolidated in one count room that makes the process faster than counting them at several location. The centralized counting procedure also increases transparency.
Best Practices of Casinos Operations
Preparation and Processing
Casinos have machines to count, identify and authenticate banknotes. All the kiosks, tables, and slots are consolidated in one count room that makes the process faster than counting them at several location. The centralized counting procedure also increases transparency.
Connectivity and Accounting
All the related components of the machines have built-in interfaces to integrate cash processing with the accounting systems of the casino. The advanced accounting systems perform customized analysis and produce reports in an accounting format so that the team can verify the figures immediately.
Vulnerabilities
Many casinos have a decentralized structure where the currencies from different cash points are processed at different places. Cash operations also involve manual labor and despite having an automated counting equipment, currencies are handled multiple times.
The Solution
When opting for an automation system, it is imperative that the casino does an in-depth analysis of the specific needs and requirements. The management needs to consider future plans, current status and challenges faced in everyday work to find an automation system that fits the requirements. Instead of having multiple machines for multiple jobs, it is always better to have a single automated procedure that does everything with accuracy. The system needs to cover everything including:
All the related components of the machines have built-in interfaces to integrate cash processing with the accounting systems of the casino. The advanced accounting systems perform customized analysis and produce reports in an accounting format so that the team can verify the figures immediately.
Vulnerabilities
Many casinos have a decentralized structure where the currencies from different cash points are processed at different places. Cash operations also involve manual labor and despite having an automated counting equipment, currencies are handled multiple times.
The Solution
When opting for an automation system, it is imperative that the casino does an in-depth analysis of the specific needs and requirements. The management needs to consider future plans, current status and challenges faced in everyday work to find an automation system that fits the requirements. Instead of having multiple machines for multiple jobs, it is always better to have a single automated procedure that does everything with accuracy. The system needs to cover everything including:
- Counting the case
- Checking for counterfeit
- Keeping real-time update of collected cash
- Connecting with banks for an auto-update
- Securing the cash from incidents of theft