Cash management software and hardware company SuzoHapp and gaming equipment and financial technology supplier Everi Payments Inc have formed a partnership to sell their combined cash management know-how to casinos, SuzoHapp says.
SuzoHapp issued on Monday a written statement saying the partners would use advanced automation technology to streamline cash management.
It mentioned “an ambitious plan” to tie automation of cash management processes to “core accounting systems”.
The partnership with SuzoHapp offered corporate customers in the casino sector a chance to integrate “front-of-the-house with back-of-the-house cash operations”; and would offer transparency in cash management, said Darren Simmons, Everi Payment Solutions senior vice-president. He further suggested such a tie up “ultimately helps casinos efficiently monitor, process and forecast their cash”.
The statement also quoted SuzoHapp Americas president Ron Partridge, who said SuzoHapp would provide Everi with its CashComplete software that would unify payment management processes.
At its analyst day in Chicago, Illinois in the United States last month, Everi’s top brass forecast next year’s adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) would be US$248 million, on revenue of US$493 million, and 2020’s EBITDA would be US$265 million, on revenue of US$522 million.
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"I am not going to speculate on what the [casino licence refreshment] tender requirements would be. I have full confidence and faith in the Macau government to treat everyone fairly"
Wilfred Wong Ying Wai
President and chief operating officer of Macau-based casino operator Sands China