SuzoHapp Group, a supplier of cash-handling systems to casinos and other businesses, says logistics hurdles and commodity shortages are among the reasons for higher prices of some of the group’s products. The explanation was included in a Thursday statement from the company.
“Over the past few months, you may have noticed price increases on some of our core products,” stated the firm, adding that it wished to clarify the reasons the “price increases were necessary”.
“Shipping costs and lead times have increased due to higher fuel prices, higher demand for, and limited supply of, shipping materials,” said the company.
“Operating costs have also increased due to stricter safety protocols,” it added. That was understood to be a reference to stricter safety steps as countermeasures against the Covid-19 pandemic.
SuzoHapp also said the group’s “power supplies, harnesses and assemblies” had been affected by a “global shortage of copper and rare earth metals”.
The gaming supplier said additionally that a “surge” in remote-working arrangements globally due to the pandemic had “created unexpected demand for monitors,” causing a “shortage in LCDs and panels and resulting in higher prices and longer lead times.”
Despite what it described as “unexpected market events,” SuzoHapp said it remained “committed to providing” its clients with “excellent service and high-quality products at fair prices.”
In January, SuzoHapp announced it was splitting its cash-handling product business from its “core” gaming-, amusement-, and sports betting-technology business. At the time, the company said the move would allow the group to align its offerings “more directly” with the needs of its clients.
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