Giesecke & Devrient is aiming to tailor its brand of high-end financial solutions for the small casinos market as the company plans for global market expansion.
[dropcap]G[/dropcap]iesecke & Devrient has been operating for more than 160 years and in this time made great strides in the banking and casino markets. The company is currently looking to the latter as a key area for growth for its financial solutions.
“Casino is a huge growth market for us,” said Jim Goodwin, Giesecke & Devrient’s global business development director. “If you look at our central bank business it is about 85-90 percent market share and when you have that share there isn’t a lot of room for growth, especially with machines like ours that last 10 to 30 years.
“Our global market penetration is quite low, but it is much higher in the USA. We have a lot of growth capability in casino markets.”
The total cost of operation of units is an important metric for Giesecke & Devrient’s sales and Goodwin believes that operators are reaping the rewards of the company’s high-end products due to the efficiency, speed and longevity they provide.
“Many of our products have done really well, BPS C4, which is very good for the small to medium sized casino and NotaTracc which is great for the large casinos with high volumes,” Goodwin explained.
“We are getting a lot of interest in our high-end equipment because of the automation that we are adding that nobody else in the world does. Even a smaller casino can see results with our capabilities, and seeing how we can make them more efficient.”
As we move into the smaller equipment, which we are doing, our capability to serve markets that require these smaller commercial products is really allowing us to do new things around the world.
G&D solutions are already in place in many major casinos in the United States, but the company is looking at the smaller-to-medium casino market as its main area of growth in the coming year. To aid this expansion a new family of products is being developed to be released in time frame.
“As we move into the smaller equipment, which we are doing, our capability to serve markets that require these smaller commercial products is really allowing us to do new things around the world,” added Goodwin.
This expansion will build upon the small market share the company has in Europe, with a particular focus on Eastern Europe, and its foothold in Asia, coordinated from its Hong Kong office. The latter of which is a mixture of direct sales, and a distributor network utilised to navigate regulated areas.
Goodwin noted that the company is keeping a keen eye on emerging markets such as Brazil and Russia where the possibility of large resort-type casinos offers excellent opportunities for the company.