When brick-and-mortar casinos temporarily closed in 2020 due to health concerns caused by the COVID-19 pandemic, gamblers looked for other alternatives.
Increasingly, they turned to igaming. According to the American Gaming Association’s State of the States 2020 report, igaming generated $1.6 billion in revenue in 2020, three times the amount brought in the previous year.
It might seem like igaming could cannibalize revenue from brick-and-mortar casinos. Why go out if you can safely gamble from the comfort of your home? But Christopher Justice, President of Global Payments Gaming Solutions (GPGS), thinks igaming is an opportunity to grow the overall gaming experience.
“We expect brick-and-mortar casinos to remain a staple within the gaming community as many patrons prefer the traditional gaming environment only available in brick-and-mortar casinos,” Justice says. “While the industry should prepare for igaming to continue to thrive, it cannot completely replace the traditional experience of physical casino gaming. In fact, brick-and-mortar gaming revenues have been shown to grow alongside igaming revenues when it is introduced.”
Global Payments Gaming Solutions helps gaming operators create entertaining and safe experiences for customers and works to maximize spend across physical and digital properties. Based in Las Vegas, GPGS is at the forefront of cashless, contactless, and touchless payment solutions for the gaming industry.
One of the customer-facing products GPGS provides is VIP Mobility, which is an extension of the company’s VIP Preferred fund management solution that provides the ability for patrons to access cash at more than 500 gaming establishments across the U.S. and online.
The genius of VIP Mobility lies in its accessibility. Users download the mobile app to their smart phones, apply funds from their bank accounts or credit/debit cards, and can start using it to play their favorite games or to pay for other services and amenities at casinos including restaurants.
“Traditional forms of wagering and betting leave casino operators and their patrons with an outdated cash-only experience,” Justice says. “However, VIP Mobility transforms casino gaming to provide a seamless, cashless, and secure player experience from start to finish, easing the workload on operators and staff and improving the user experience for patrons.”
VIP Mobility was recently launched at Viejas Casino & Resort near San Diego, which operates via VIP Preferred. It’s one of the first true cashless gaming experiences in the country and has been used by thousands of customers who have provided overwhelmingly positive feedback.
“We are seeing great traction with the app, including a steady increase of time on device amongst VIP Mobility users,” Justice says. “As patrons continue to use VIP Mobility, their level of trust in the app, as well as transaction volumes, grows measurably”.
One of the effects of the COVID-19 pandemic is a shift to cashless payments, not only in gaming, but for society in general. Since the pandemic struck, payment methods that don’t require contact and the exchange of cash or cards are increasingly being implemented, not only because of health concerns, but for convenience.
According to the San Francisco Chronicle, a survey conducted by Zelle, a service that lets people transfer money between U.S. bank accounts, 75% of respondents said digital payments were safer than paper currency. And half of those surveyed, from Baby Boomers to Gen-Z, said they will keep using digital payments instead of cash once the pandemic ends.
“The global pandemic has fueled the need for safer, alternative payment methods to meet the expectations of patrons as they returned to the casino floor,” Justice says. “Patrons have grown accustomed to cashless, contactless methods and we fully expect this new way of gaming to grow across all age segments, no matter how old. Moving forward, land-based operators should strive to provide contactless and cashless solutions to meet the evolving needs of their patrons. With VIP Mobility, casinos can tap the tools needed to cater to consumer demand while ensuring patrons enjoy convenient and flexible gaming options to boost their experience both in person and online.”
