and can seamlessly integrate other types of table games or innovations.
What are your expectations for the Smart Pit with all four products?
Before rolling out the entire Smart Pit at G2E, we undertook some beta testing with operators taking Craps at one end of the pit and the Dual Roulette table at the other. In my view data speaks louder than words. Te live Craps product we launched on the Strip is one of the highest utilised and occupied products on that side of the Strip at 52 per cent. Over 12 hours a day 16 seats are full, with players gravitating towards the smart pit distribution method.
We are now in discussions with the largest operators in the world about rolling out the Smart Pit. Visitors to Booth #1239 at G2E will see the entire Smart Pit. Technology is technology. Te ability to generate three to four times more decisions per hour means the Smart Pit outperforms traditional pits in terms of profitability and occupancy.
Additionally, there are also no mistakes with chips. How much does the global casino industry lose on dealers and players accidentally getting paid more than they should, or find themselves the victim of collusion? With the Smart Pit, that risk is eliminated. Tere are plenty of both direct and indirect benefits that casinos will be measuring between now and the end of the year.
What’s the ceiling for electronic table games?
It's been an evolutionary process over the last seven years. Around one per cent of the casino floor comprises electronic table game products. We're completely undersaturated. I think many casinos are re-evaluating their product allocations and are making some adjustments. We're such a small portion of the floor that we continue to see organic growth globally.
With that said, because we're involved across different product categories – Standalone, Stadium, Universal Cabinet, Smart Pit - each caters to a different player base. At Interblock, we are learning and evolving as each year progresses that one plus one equals three, four and sometimes five. We continue to add incremental units onto a casino floor in different categories, each attracting a different type of player.
One of the biggest headwinds we faced initially was the premise of house average. I’m not a huge proponent of house average even though I was involved as an executive at a very large slot company. House average is not indicative of all product categories and players. A slot machine holds around nine per cent and a Craps product generally holds around three per cent. To do house average against the Slot, the Craps product must do three times the handle. Tankfully, the industry has come a long way in how we evaluate table games because the definition of house average is extremely dangerous.
Returning to the question at hand, it's evolutionary. We're still significantly under- penetrated and we continue to launch new
P36 WIRE / PULSE / INSIGHT / REPORTS
product siloes or categories within our company to expand organically and attract new demographics to help address labour shortages, costs, and inefficiencies in casino operations relative to table games through innovation and technology.
Are traditional versions of electronic table games still as popular?
When I joined Interblock in 2015 the primary objective was to build a portfolio of the basic games. Basic game concept, basic game math – really it was about creating a foundation. We heavily invested in rounding out our portfolio in traditional live table games. Circa 2016/17 we began to find new ways to distribute with new features, functionality and forms of entertainment that would entice players to have a greater experience, stay at the device longer and ensure greater profitability for our partners and customers.
Heading into G2E we will have approximately 12 different Roulette games and 11 different Craps games on our booth. We've evolved with players. Many traditional Craps and Roulette players are now looking for something more innovative and exciting like in the slots world. Slots started with three reels and now there are five. Once there were nine lines now there are hundreds.
Te electronic table games space can utilise the best practices of slots over the last few decades and its evolutionary cycle. In principle, it can follow that trajectory. In many ways we are doing the exact same at Interblock - with similar results.
“We are now in discussions with the largest operators in the world about rolling out the Smart Pit. Visitors to Booth #1239 at G2E will see the
entire Smart Pit. Technology is technology. The ability to generate three to four times more decisions per hour means the Smart Pit
outperforms traditional pits in terms of profitability and occupancy.
“Additionally, there are also no mistakes with chips. How much does the global casino industry lose on dealers and players accidentally getting paid more than they should, or find themselves the victim of collusion? With the Smart Pit, that risk is eliminated.”
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