The shift to cashless is providing opportunities both within the gaming space and the non-gaming space, with TransAct Technologies poised to leverage its experience across multiple markets in Asia and abroad. Chief Revenue Officer Tracey Winslow says that gaming has driven at least half of the company’s revenue over the years, with the company aiming to “meet the players where they are”.
We’re joined today by Tracey Winslow, Chief Revenue Officer for TransAct Technologies. Thank you for being with us.
Thank you.
Well, we’re here at the ASEAN Gaming Summit where we’ve got a lot of different topics which are being debated, one of which is cashless. Cashless transactions are not only increasing in general but they’re becoming mandatory in a lot of different jurisdictions. How is that impacted, and how do you think that will impact, TransAct?
Cashless is an important new component to the gaming world and TransAct actually welcomes this addition to our current way of gambling with slot machines. So, we were one of the original cashless options, with Tito tickets. TITO was the original cashless. Now it’s just adding another way to automate “How do I add funds to my game?” And then “how do I take those funds off of the game when I’m done?”
So, much like the TITO ticket, cashless offers convenience to the players. We want to meet the players where they are, for those who are comfortable with cash, and TITO, we’ll continue to do business as we do today. For those that would like to maybe move to an electronic wallet, then there’s a lot of options to do that. So, TransAct welcomes the change. Anything that aids in getting players onto the game and playing, we welcome.
There are more trends that are coming out aside from cashless. What are some of the ones that you’re seeing within the gaming space which you consider to be exciting?
I think the non-gaming options tied with gaming are quite exciting. And so non-gaming options might be something like rewarding the player with a hotel room stay, a meal, a show, anything that gets the player to explore the rest of the integrated resort is a good thing. We at TransAct do that through Epicentral, which is our software program that allows the player to be rewarded at the game with a coupon. But there’s many ways of doing that particular type of transaction.
That’s interesting. And it ties in the various arms of TransAct, whether it’d be the F&B related or the gaming related. In regards to the gaming side, how much of a component is that for TransAct right now?
The gaming business within TransAct is clearly a large portion of our business, but also an important component to the profitability of our company. We’ve been established in gaming for quite a while, since the early 2000s. And I’m happy to say that we’ve driven at least 50 percent of the revenue for the company over the past number of years with gaming. Now, we’ve added our food safety technology business, and we expect that business to continue to grow as well. So, having responsibility for both, I’d like to see us grow in both areas. But certainly, the back of house automation, BOHA products for TransAct, is where our growth engine will be in the future.
We’re here in Asia, obviously, we are focusing on the Asian market. How important is that Asian market for TransAct? And do you see that that’s going to grow? Or is that going to shift in any way?
It’s extremely exciting to be here in Asia with our Asian customers. It has been a very important crucial marketplace for us. From the early days in Macau, to now expanding here in the Philippines and the growth of the integrated resorts here in the Philippines. I attended two panels this morning that talked about more jurisdictions that could be coming online, like Thailand, for example.
So, there’s a tremendous amount going on in this part of the world, and TransAct’s committed to supporting our customers in Asia where we can’t do enough to to help our customers here in Asia. And the market has met us with a lot of market share as a result, I believe, of our investment.
It’s been interesting, there was the pivot to Asia. But now it seems like there’s also a lot of companies which are pivoting from Asia to North America, to LatAm, to Brazil. How is that shaping in with TransAct’s approach?
We’ve always approached it from a global perspective. We’ve provided coverage in all markets of the world and have have done well with our customers both in the US, Canada, Latin America. Europe is a big market for us as well, so we don’t leave anyone out. I think it continues to be a dynamic global market.
We look forward to seeing how that can grow and all the best to you at TransAct. Tracey Winslow, Chief Revenue Officer for TransAct Technologies. Thank you for your time.
Thank you.
