Everi Innovation Out of Necessity (and a Pandemic)

Innovation often comes out of necessity and with the rapid spread of COVID-19, casino operators are rethinking how their guests’ access cash. Although it is unlikely that casinos will stop accepting cash, a new semi-cashless paradigm is on the horizon. Darren Simmons, Executive Vice President and FinTech Business Leader for Everi Holdings Inc., has been waiting for the industry to take notice on deploying cashless solutions. Everi has long been an innovator in cashless technology for the gaming industry, most recently with the introduction of its cashless wagering feature called QuikTicket, which allows casino guests to access funds at an Everi kiosk through a simple and quick cashless, self-service ticket purchase. The guest can then utilise these tickets directly at an electronic gaming machine (EGM). The feature is currently approved in Nevada and other jurisdictions across the United States. Everi has been monitoring consumer behavior

outside of the gaming industry during the pandemic and saw a significant increase in the use of contactless cards and mobile wallets. The company expects to see greater adoption of self-service solutions to reduce cash handling and help guests feel safe and secure while visiting casinos. Utilisation continues to grow as more casinos reopen and as more guests experience the ease and benefits of cashless offerings like QuikTicket. “We have seen acceptance of cashless solutions multiply significantly over the past three months,” said Simmons. “However, these solutions are not as simple as going cashless at the coffee shop. Deployment of a digital payment solution in a sophisticated integrated casino resort is more challenging as it needs to address the regulatory requirements from both a payments and gaming perspective.”

A Customer Centric Approach

“Our goal is to provide the casino guest the ability to have funds when they want it, how they want it, and where they want it,” states Simmons. Everi knows that not all guests are

comfortable with a pure mobile experience. Everi’s CashClub Wallet is designed to attract a wide demographic by providing a simple, easy to navigate experience. With CashClub Wallet, guests can move funds from their preferred payment type, like a debit card or an Automated Clearing House (ACH) transaction, directly from their checking account. The digital wallet is also linked to their player loyalty account. “We expanded our strategy short term to

provide our casino customers with a simple, intuitive ‘white label’ mobile app that guests can use by registering remotely. The guests link their

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implementing a new cashless technology, especially when funding the gaming wagering account systems (WAT). The mobile wallet journey includes gaming system integrations, but can also be extended to the online and sports betting space and provide bi-directional movement of funds. Social distancing and other pandemic-

player club card and profile and load funds with their bank cards and checking accounts,” said Simmons. Everi also reduces the banking regulatory

burden for casino operators by leveraging their money transmitter licenses from multiple states, enabling guests to move money across state lines for multi-jurisdictional operators. As an added layer of security, player funds are held in Federal Deposit Insurance Corporation (FDIC) insured accounts and all transactions are tracked in the Anti-Money Laundering (AML) compliance tools that Everi provides today. Many Everi casino operators understand that limiting regulatory hurdles is critical to

mitigation measures are boosting demand for touchless access of funds. As consumers become more accustomed to digital services and virtual wallets, expect to see Everi incorporate technology to benefit both operators and casino guests and build upon the self-service solutions to help guests feel safe and secure while visiting casinos.

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