Loss Settlement Options: •
Client can choose to settle debt directly to the host casino or pass funds through their GBI account as payment to be forwarded. Some clients may not want their bankers to know that they are sending money to a casino.
•
If debt is not paid within allotted time period Casino X can instruct GBI to liquidate debt amount from collateral account as payment.
• Casino X can elect to receive proceeds as physical gold in an omnibus account.
As one can see, looking at the benefits, this is a win-win situation for all parties involved. GBI earns fees from buying / selling transactions plus annual storage fees charged monthly which includes secure storage, insurance and bullion verification. Casino X gains the ability to grant secured credit to customers that would not normally qualify for casino credit. And the player also benefits from the availability of casino credit even though it is secured by pledging his gold as collateral against the loan.
Once he establishes an account his benefits are identical to normal casino credit where he will not have to liquidate assets to wire transfer funds in advance of a visit to Casino X. The host casino may develop its own Loan / Collateral Agreement form with GBI to insure that there is no risk to the casino. In addition, due to the strategic alliance between GBI and Casino X both companies will participate together in certain international marketing campaigns to gain even greater exposure for both companies.
This is definitely a win-win situation for any casino that issues casino credit especially to international clients and GBI.
Steve Karoul is a highly respected casino consultant as well as lecturer and author. Steve has lived in numerous countries and has conducted casino marketing activities in over 100 different countries. Steve is a recognized gaming industry innovator who openly shares his ideas with fellow casino executives to help develop the gaming industry. Steve may be reached at skaroul@
comcast.net or (860) 536-1828.
Tel: +44(0)1624 827 138 Email:
info@gbgc.com Web:
www.gbgc.com
Global Gambling Report 2011
GBGC provides top flight consultancy services, data and publications for the global gambling industry. We look at all segments from the traditional land based business of casino, bingo, sports betting and lotteries to the new vibrant and rapidly growing online gambling business.
GBGC has helped governments develop their policy toward gambling, companies with their corporate strategies, investment banks and private equity with their due diligence
and served some of the major consultancies with the flow of data about the gambling business.
Interactive
Gambling Report 2011 Also available
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52