It’s hard to believe that 20-plus years ago the vast majority of the cages in our industry were operating under a completely manual system. Manual markers, manual pit fills and credits, manual microfilming of the checks, manual table games openers and closers, and way too many other manual functions to mention. And even now there are many cage and credit functions that are still manual—and outdated. Cage automation has been somewhat slow, but every year at G2E and NIGA I see a much brighter light at the end of the tunnel.
The topic of critical thinking is something that is stressed in business college. It’s important that we learn to look at things from different angles before we render an opinion or make a crucial decision. Some situations aren’t always the same as they first appear. This is true even in casino game protection. Sometimes failing to look at the “big picture” will prevent us from seeing the real problem.
What is it about life that causes us to like what we have and love what we don’t? The quintessential thing that causes us to revert to being 10 years old again, standing in front of the store window, drooling at the hope that we will get that cool new present for our birthday. We like our current toys, but we lust after the toys we don’t have.
For the next several months we will be presenting a series on VLTs. This series will include interviews with manufacturers, operators and regulators. Much of this introductory segment will discuss VLTs in Canada. In future installments, we will expand to the U.S. and provide a comprehensive global look at the VLT segment.
So, do you feel like reading another article debating if, when and how online gaming will come to the U.S. market? Yeah, me neither. So, let’s be clear from the start: This is not one of those articles. But because many U.S. companies have little experience and familiarity with online gaming, many are unfamiliar with the opportunities, the technology and the revenues possible.
Sitting at your desk, reading the latest issue of Casino Enterprise Management, you hear a knock at your door. Looking up, you see Larry Foutz, your helper and go-to-guy who saved the day when you needed to explain why the Crackpot Jackpot machine had never hit the progressive jackpot.
Once a player has walked in through the door and is on your gaming floor, how long the player will play at your tables and how many hands he will play are profoundly influenced by a number of factors. Two of the factors that the casino executive can control are game availability and table occupancy. There is money to be found on the casino floor, and it’s not that hard to come by.
The next time you walk into a card room in California, wander through the Asian gaming or “rotating bank” game section and look for the banking group players. They’re the ones sitting at the table with racks of chips in front of them. These people are neither players, nor are they card room employees. They are a new breed of gaming industry entrepreneurs known as Third Party Proposition Player groups, or more simply, banking groups.
Many moons ago, when I worked in banking, I was taught very early about the four C’s of credit: Character, Capital, Credit History and Commitment. Now, I don’t think that the banking industry still practices the philosophy of these four C’s, but I do—and they can help a credit manager determine whether granting someone a line of credit is worth the risk to the casino.
