“Our Mobile product was the outstanding innovation from NEWave in 2012”

What is the evaluation of this year?
2012 was an absolutely incredible year for NEWave. We dramatically expanded our footprint, outpacing all competitors, and 2012 was also a year of firsts, with our first installation in Connecticut, Maine, Maryland and Ohio, and we were the first company in the U.S. to successfully eFile under the new FinCEN regulations. We expanded our staff at many levels, including adding our VP of Sales and Director of Sales, and increased our business/sales support team. We launched our new Mobile product to widespread interest, and Mobile was named to Global Gaming Business Magazine’s “Best Productivity Enhancement Technology” list. We wrapped up the year winning Gaming & Leisure Magazine’s Innovation Award.
 
What were the main challenges that you had to face within your major markets?
Casinos across the U.S. – both existing casinos and newly opened properties – want to do more with less. That meant our challenge was to continually enhance our products to help our customers be even more efficient and cost effective.

In your opinion, what was the most outstanding novelty (positively or negatively)?
The FinCEN changes were definitely novel. Early in the year, there was a great deal of concern about the major changes that are involved in the guidelines, and there was a very early deadline. Fortunately, the deadline for compliance was extended, and we have been working very hard with our clients to ensure they are in compliance. As we wrap up 2012, most casinos are in the process of updating their software to remain in compliance.

What was the most innovative product or service launched this year by your company?
Our Mobile product was the outstanding innovation from NEWave in 2012, and clients and the press have agreed. Client interest was extremely high from the minute Mobile made its debut at G2E, and Global Gaming Business Magazine named Mobile to its “Best Productivity Enhancement Technology” list. Mobile is a user-friendly tool that expedites the entire tax form process. Because it works in conjunction with our Title 31 Manager and Tax Form Validator software, Mobile allows casino staff to confirm already stored and validated guest information, create tax forms, speed payouts, maintain Title 31 compliance, track MTLs, and more, all while maintaining face-to-face contact with the guest. Mobile streamlines processes for casino staff across multiple departments and works on a variety of mobile operating systems, including Apple, Android and Windows.

What are your company's plans for 2013?
As casinos are looking to do more with less, in 2013 NEWave will focus increased energies on providing efficiencies allowing operators to do more with less. This will include our current three product lines (myCompliance Manager, myRevenue Manager and myDocument Manager), which provide the benefit of reducing mundane labor intensive process and provide a collaboration of products that can be utilized to reduce manual steps.

In 2013, a major focus for NEWave will be the launch of a number of new efficiency-driven programs, including audit tools for Food and Beverage, Retail and Casino Cages. Many of these processes have remained the same for 20 years or more without technology being leveraged to improve the process. When these new tools are added to our already powerful suite of audit efficiency products, we believe the value to operators will be hundreds of thousands of dollars per year.

Another source of efficiency that we forecast casinos will look to in 2013 is paper use and storage. Regulations require casinos to store documents for good reason; however the paper and space involved is reaching a breaking point in terms of cost and space. As 2012 ends and casinos are looking at their year-end obligations, we are getting nearly countless requests for solutions to document management. We see this as a growth area in 2013 for NEWave, as we have software and hardware solutions that increase compliance efficiency and document management.

How do you picture the gaming industry in 2013? Will it be similar to this year? Will there be a growth or slowdown?
All signs point to growth in 2013 in the U.S. Labor and commerce statistics are forecasting a promising future as the recovery continues, and we expect as consumer confidence continues its climb, that will bring additional casino visitation as consumers increase their entertainment budgets. That said, we believe casinos everywhere will continue to strive to maximize their efficiencies and do more with less, and we are prepared to help.