Blog Hero Image

Six Critical Considerations in Evaluating Casino Ticket Redemption Kiosks

Ticket redemption kiosks have historically been viewed as a vehicle for reducing expenses and customer friction associated with the cage. However, as outlined in a recent Global Payments Gaming Solutions whitepaper, consumer preference for self-service is growing. As a result, the once-siloed goals of decreasing cage costs and increasing floor profitability are converging at the kiosk.The full evolution to kiosks-as-a-profit-center will take time, and change on the part of casinos, their vendors and the payment industry. In the meantime, Gaming Entertainment organizations can take big steps forward by considering these six factors during their next ticket redemption kiosk evaluation:
  1. How will this device help maximize guest spend? On average, ticket redemption represents approximately 80 percent of kiosk transactions. Is your vendor giving you insight to improve kiosk placement for maximum return play? Are they providing you with solutions to maximize cash access? For example, we recently advised one client to move self-service e-check to dedicated kiosks. The result was an approximately 30 percent increase in transaction volume and a 25 percent increase in transaction size. That’s real dollar volume delivered to the floor.
  2. How can it promote my revenue-generating cage services? Today, cash advance and e-check solutions make up only 4 percent of kiosk transactions. However, these transactions are typically 4-5x the size of an average ticket redemption transaction, putting more cash in circulation on the floor and providing fee revenue to the cage. Is your vendor enabling these services in a way that limits consumer friction? Are they using signage and screen prompts to steer your guests to products that will maximize cash and fees?
  3. How can it help maximize spending across the property? Putting more cash in your guests’ pockets is nice, but how can you ensure it gets spent with you? Kiosk transactions provide you with a captive audience where, unlike the cage, communicating and delivering offers and information is easy. They can play an invaluable role in steering guests to other parts of your experience. Do your kiosks enable the ability to run video during idle time, and signage to engage consumers as they’re walking up to the device? Do they offer the flexibility to complement your brand experience through video, signage and other forms of customization?
  4. Is it minimizing space? A gaming kiosk the size of a Buick is a function of poor design. Cash-capacity and efficiency are not mutually exclusive. Every square inch of a casino either costs money or produces it. Maximizing room for revenue-generating slots and table games should be every GM and slot floor manager’s priority.
  5. How can it keep my guests and my business safe? Ticket redemption kiosks have solved a number of problems for casinos. They also created a big one: security. Vendors not experienced in this area have been putting devices on casino floors that spew guest data in the clear, aren’t close to being EMV-ready, are susceptible to skimming, and can easily be duped by employees in order to steal funds during replenishment. Does your vendor operate around a culture of security? Are they using multiple layers such as EMV, encryption and tokenization to protect your guests’ data? Does their kiosk design maximize consumer privacy? Reputational damage due to fraud will crush your future profit aspirations.
  6. How can I be confident the device will be running when I need it most? Unlike gym equipment, you don’t see revenue-producing slots out of service on a casino floor. Why would you tolerate the same for your cash access devices? Everything breaks at some point. It’s how fast your vender gets you back in the game that counts. Does your kiosk provider offer around-the-clock service? Can they proactively monitor your device to predict breakage and order parts? Can they provide the parts and adequate training to enable casino staff to fix common issues?
For many, kiosks will ultimately become a profit center – and a cornerstone of the guest engagement experience – in only a few years. However, these devices typically have a 5-7 year shelf life, which means that the decision you make today will help or hinder your future plans. Please contact us to learn more.

 

1 Comment
previous post NIGA Attendees: We Have the Answers to your top Questions
Next Post Supreme Court Allows States to Decide on Sports Betting
Steven Q. Riddick, Head of Product, Global Payments Gaming Solutions

Steven Q. Riddick, Head of Product, Global Payments Gaming Solutions

Steven Q. Riddick has over 15 years of leadership, relationship management, product management and program management. Skilled in both waterfall and agile methodologies, Steven is committed to the standards of integrity and excellence in work and life. He a strategic thinker whose focus is translating the voice of the customer into consistent execution and delivery while leading teams, projects and financials to success. He is an asset to any organization to which he is connected and also has the willingness and ability to learn new things with sufficient speed and precision to drastically reduce learning curves.