Nevada Gaming Commission's regulation 5.225 effectively required all new cashless wagering technologies to create a wagering account. However, wagering account creation causes numerous challenges, among them:
-
- Increased consumer friction and confusion
- Higher enrollment expenses for the casino
- Incremental IT complexity and cost
- Incremental operational costs and change management issues
Those challenges created a negative ripple effect across the gaming industry for casino operators on multiple levels. But, while some only see the negatives, others see the opportunity.
Pavilion Payments enables the world's gaming entertainment leaders to create exceptional consumer experiences and maximize spend across all of their physical and digital properties, saw the opportunity, and proposed a change to regulation 5.225, which was approved.
So, what does that mean to the industry, and how does that impact Pavilion Payments?
Simply said, Pavilion Payments' VIP Mobility™, an industry-leading payments platform for gaming organizations, enables true cashless casino gaming and is the only cashless solution in the market that doesn't require creating a wagering account. This change allows for the deployment of a solution that is easier for the casino to install, operate and maintain while delivering an exceptional consumer experience.
Regulation changes rarely occur with the Nevada Gaming Commission. While that is news, the regulation change speaks to the forward-thinking and quality of the Pavilion Payments innovations. It also highlights the regulator's need and commitment to deploy this into the market.
As the business model of the gaming industry continues to evolve, this regulation change is a win for the patrons and casino operators as it sets the stage for more robust, cashless betting options as regulators pinpoint the difference between wagering accounts and wagering vouchers.
To learn more about Pavilion Payments and how they are helping casino operators and patrons enjoy a better experience, and why more than 3.5 million patrons rely on their solutions for simple, safe, and responsible play, click here.
