Electrocoin has championed the redemption market since its inception, and as we head into the 2020 season it shows little sign of slowing, comments, John A Stergides.
Coinslot: Redemption has been one of the defining products in the amusements sector over the past few years, how do you see the marketplace developing in 2020?
John A Stergides: “We have been involved with redemption since 1990 with the first ticket redemption product, PCP. Basically redemption is like bonus points you get with reward schemes like avíos / air miles nectar etc but we just use tickets in our industry. The market will continue to grow as we are giving families an experience with amusement machines by giving the tick to collect a prize of their choosing. As my father said it’s Like the green stamps from the 1970’s.”
CS: What innovations are driving this genre forward and what kind of impact are they having on the operational side of the business?
JS: “It’s another product in the industry with new products being developed all the time so it is giving operators another tool to offer electronic entertainment which isn’t available at home or on smart phones.”
CS: You’ve invested a great deal in redemption over the years, which of your products are resonating with the market, and why?
JS: “We are growing our portfolio of redemption products on the back of the Galileo POS system and ticket eaters which have been a huge success. We are now offering more redemption and prize games like the Skill Cut Winner, Hit and Smash , Drop a Winner, GoGo Chicken as well as Intercard’s cashless system.”
CS: What are your plans for the redemption market over the coming year or two?
JS: “We will look to offer new products like the Hoops mania shown at ice or the Tiki Tumble at EAG as well as promote Intercards cashless system.”
CS: Simple question: what makes a good redemption unit?
JS: “An attractive design, a lot of testing hours, fantastic sounds and great gameplay. Like the Tiki Tumble which took seven years to develop.”
CS: With an increasingly tech and trend savvy audience, how do you ensure this is reflected in the prize offering?
JS: “Players need to be kept entertained with a challenge and rewarding with tickets and prizes which is up to the operator to be ahead of the market by buying the latest plush.”
CS: Creeping regulation is an on-going issue for the industry, do you see this a viable threat to the redemption sector and what message needs to go back to government about how important – a safe – redemption is?
JS: “It is not a threat as We follow the regulations and try to work with the authorities as we are providing entertainment for all the family which is not gambling.”
CS: How important is the physical engagement, and excitement factor for redemption units, especially viewed in the context of smart phones, tablets, video games at home etc.
JS: “It’s very important as we are providing an experience and memories when they win prizes which can’t be replicated at home or on smartphones.”
CS: How have you perceived the rise of cashless payment solutions affecting the redemption market?
JS: “Solutions like Intercard’s are benefitting the everchanging market as more transactions are contactless than with cash. Intercard’s products offer all the solutions in one and has been around for many years as it was one of the first systems so it is ready to go. They are always a step ahead of the competition as they develop new software offerings for many countries.”
CS: Today’s youth is increasingly brand-focused and tech-savvy. Is there an onus to develop machines and swag to reflect this? Be it in licensing, use of touch screens on machines etc?
JS: “Yes it is important which is why many operators keep an eye on the latest trends for swag purposes. A license can help a good machine however if the game is not good enough then a brand license won’t make it successful.”