The land-based gambling market is ever-plagued by the issue of problem gambling among patrons. As such, operators in this industry are always looking for new ways to help prevent players from gambling irresponsibly. One of the most recently developments in this arena will see Wynn and MGM introduce cashless table games to better monitor player spending.
A recent report by Innovate Gaming notes that MGM Resorts International and Wynn Resorts will launch a new initiative that will do away with cash being spent at table games and poker. In addition to monitoring player activity, it will also help to prevent money laundering – a common crime at land-based gambling venues.
This means that players will only be able to use chips while playing poker or table games like roulette, blackjack and baccarat. All of the chips being used must be processed through the casino’s system before they can be wagered. This will prevent unaudited transactions, and ensure that all bets are accounted for at the casinos.
“Think about what happens each time a customer enters your casino,” says Shasky Calvery, Director of the Financial Crimes Enforcement Network. “Often, the first thing a customer does is conduct a financial transaction, they cash out those chips. And while the vast majority of these transactions are purely for entertainment purposes, casinos can serve as the vehicle for the use, movement, and concealment of ill-gotten gains.”
This is a great initiative in the land-based gambling market, and we are confident that it will make a difference in problem gambling rates at Las Vegas casinos. The operator will obtain a more accurate view of player habits, and offering up intervention when necessary to prevent players from gambling irresponsibly.
About the Author
