For casinos around the country, the checklist for reopening can be complex, but one item that should not be overlooked is cash on hand. While many are reopening under a hybrid approach that we wrote about in a previous blog, this still leaves the question of how much physical cash to have available.
So far, casino guests have welcomed re-openings and flocked to their local casino in larger than expected numbers and cash demands have been high. Considering that financial institutions and armored carriers require advanced notice, we wanted to share our experience with you. We have seen an increased cash demand of 3-4x for ATM Cash and 2-3x for cash services. While there's no guarantee that all reopening casinos will see the same positive success, your management team will need to value the downside risk of running out of cash.
To all of our customers that are reopening soon, we stand ready to assist you and wish you success.