For the past year, gaming leaders have made the adoption of cashless or digital payment technology for casinos an industry-wide initiative.
Another step in that direction occurred Monday, as Everi Holdings announced it was bringing its mobile wallet technology to the state of Florida.
Through an agreement with the Seminole Indian Tribe, the Las Vegas-based Everi will provide the equipment for cashless and touchless funding of electronic gaming at the Florida casinos operated by Seminole Gaming.
In a statement, Everi said the technology was currently being used for electronic casino play, restaurant and bar purchases, and at retail outlets inside the Seminole’s flagship Hard Rock Hollywood near Fort Lauderdale and at the Seminole Classic Casino, also in Hollywood.
By the end of March, the tribe and Everi plan to have the mobile wallet in all six of the tribe’s Florida casinos, including Hard Rock Tampa.
Seminole Gaming and Hard Rock International CFO John Eder said the mobile wallet “eliminates the need to handle cash at slot machines, creating a frictionless experience for the customer and allowing all patrons with flexible options to fund their gaming experience.”
Earlier this month, Everi said that Oklahoma’s WinStar World Casino Resort was the first property to utilize the company’s digital wallet platform.
The mobile application allows casino patrons to deposit funds into their digital wallet at their convenience – while they are on-site or away from the resort, and via a bank card or directly from their checking account.
The funds can then be accessed for use directly at the game, enabling the casino to offer a fully touchless solution. At the conclusion of play, customers can move funds back into their digital wallet, which can hold the money for future use or electronically send the funds back into the customer’s bank account.
“We are excited to collaborate with the Seminole Tribe of Florida and Hard Rock International for the launch,” said Everi Executive Vice President Darren Simmons. “The wallet will provide gaming patrons at these casinos with a digital payment solution which fulfills our collective goal of enabling the casino’s guests (to have) a fully cashless, mobile experience.”
Since 2019, the American Gaming Association has advocated for the industry to adopt cashless or digital payment solutions to help modernize the industry. In the past year, spurred on by the COVID-19 pandemic, several changes have already taken place.
Regulators in Nevada and Pennsylvania have approved new rules to permit digital payments in their casinos, and New Jersey, Indiana, and Iowa are expected to follow suit.
“Our strong partnership with Everi for the announced launch of this innovative cashless funding solution will bolster the security and ease of funding transactions as well as interoperability with other back office tools to support our operations, such as anti-money laundering, Know Your Customer, and providing tax forms for casino winnings,” Eder said.
Several other tribal casinos are already using digital payment technologies.
Southern California’s Morongo Casino and Resort will introduce a new cashless wagering product early next year that will provide slot players with gambling markers. The platform, which runs through Morongo’s casino management system, is not a mobile wallet, since the funds rely on credit provided by the property.
Everi first introduced cashless technology in 2017 through a ticket product. Everi said the mobile wallet allows customers to move funds in and out of the casino or online across sports betting or social casinos, and manage their spending limits, helping to support responsible gaming.
Shares of Everi, traded on the New York Stock Exchange, closed at $13.30 Monday, down 19 cents or 1.41%.
Howard Stutz is the executive editor of CDC Gaming. He can be reached at hstutz@cdcgaming.com. Follow @howardstutz on Twitter.
