Konami Introduces Cashless Payments at LA Casino

Japanese gambling company Konami Gaming has become the first Japanese brand to introduce cashless casino slot markers at Ellis Island Casino, Hotel and Brewery, Las Vegas. 

More About Konami Gaming

Owned by Konami Holdings Corp and headquartered in Las Vegas, Nevada, the company claims to be “innovators of slot machines and gaming enterprise management systems for the global gaming market.”

Founded in 1997, Konami is an international name with a solid presence in a number of countries including Canada, Australia, Africa, and America.

Why This New Feature?

Cashless payments are the future.

We have seen more people turn to contactless and cashless payments due to the pandemic; however, the trend is expected to continue since cashless payments have been proven to be fast, safe, and reliable.

It’s believed that the industry will be worth $10.07 trillion by 2026, hence it doesn’t come as a surprise that Kanomi has jumped the bandwagon.

The company has taken this step to provide customers what they want – safety and ease. The introduction of cashless payments may help bring more players to physical casinos.

According to Konami, this is “the first field trial” of this incredible technology on such a large scale. The company believes that this step will provide several benefits and may help bolster Anti-Money Laundering.

How Will It Works?

Customers in the US are well aware of cashless payments.

We’re among the largest users of debit cards, credit cards, digital wallets, and cryptocurrencies. 

Still, casinos might have to educate customers and provide signage so they’re aware of all payment methods. 

Thanks to this new tool, Ellis Island Casino consumers will have the option to sign up for cashless accounts. The property will use Konami’s software called the Synkros system to manage users.

Each customer will be awarded a Marker Trax slot credit line that they will be able to use at any Konami cashless solutions. 

The same goes for withdrawals. There will be no physical cash outs; the money will be deposited to a digital wallet. The user, however, may have the option to withdraw it from the wallet to a bank account or use it directly to make online or offline purchases.

What The Experts Say

Gary Ellis, Ellis Island Casino’s owner, welcomed the idea with open arms. He said:

“It’s incredibly simple for guests, and truly streamlined with Synkros for staff and supervisors.”

Experts are excited about the future and possibilities and many expect the industry to follow suit. 

The Nevada Gaming Commission is already considering the option to introduce cashless payment options for users.

Users are comparing this to the ticket-in, ticket-out (TITO) technology and many hope that it will provide a much needed boost to the gaming and betting industry. 

Not many casinos in the country have adopted cashless payment due to the presence of tough regulations and red tape. The American Gaming Association called for the government to streamline regulations and offer more cashless options to help the industry.

Casinos in Las Vegas are operating under SOPs to prevent the spread of the novel coronavirus. The Nevada Gaming Commission took the bold step to expedite processes and quickly allocate cashless systems licenses so that more casinos can benefit from the technology.

While Konami appears to be doing well, it isn’t the only company offering such systems. Scientific Games introduced a similar solution in May. It makes use of a mobile app to manage payments and withdrawals.

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