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Leveraging modern payment technology helps casino operators retain customers and engage a wider audience
The question of engaging millennials to go to casinos has been on the minds of gaming industry executives for the better part of a decade. As that generation creates more wealth, they come closer and closer to aging into the gaming ecosystem.
There are some who view the challenge as futile—like searching for a white whale—as the next generation isn’t entertained and doesn’t spend their money like older generations.
But it is a challenge that can be solved. The key is remembering basic business fundamentals still apply: You’ll need to offer services that appeal to modern customers to attract them. That is why ideas such as “offer more entertainment” and “reduce the number of slots on your floor” are common answers to the question of “what types of services?” Of course, all these ideas are easier said than done and often come with more challenges than it solves.
But what if there was a simpler way?
The Next-Gen is the Digital Generation
The one service often overlooked by casino operators is the most common on a casino floor: payments. According to a 2021 research report by The Harris Poll and Fiserv, a leading global provider of payments and financial technology, people 40 and under prefer interacting with a financial organization digitally over going into a branch at a rate of nearly 6:1. Furthermore, nearly seven in 10 of this group used a digital wallet in the past year.
So, if younger generations are clearly more comfortable moving money and managing payments digitally, why are you not offering cashless payments at your gaming operation? Additionally, the COVID-19 pandemic increased the use of digital transactions and digital wallets across all generations, including Boomers.
It’s Not as Complicated as It Sounds
As the leading digital payments provider in the sports betting and casino gaming industry, Sightline Payments has successfully integrated cashless payments for over 80 gaming partners nationwide. Our award-winning Play+ solution is an FDIC-insured account your patrons can use to fund all their favorite resort, sports betting, and gaming activities at your casino. It can even be linked to an iLottery account, and it can be created and funded online or in-person seamlessly through one’s mobile device.
Cashless Payments Mean More Than Cashless Payments
For casinos, the benefits to offering cashless payments only begin at offering more convenience and safety to your customers. The data you can collect by offering cashless payments provides invaluable insight about your customers. It’s also another way proven to increase customer loyalty as it provides you with another avenue to reach those customers on a consistent basis.
The future is now and we’re just getting started.
For more information, visit SighlinePayments.com.