aking into account what you could perceive, how has been the performance of the industry during 2010?
The G2E show in Las Vegas last month demonstrated that we are on the road to recovery from the global economic crisis. We are seeing active movement in some areas that had previously been quiet during 2009. And although there is evidence that some countries are moving at a slower rate than anticipated, there was a lot of positive feedback and a very positive outlook for 2011 from everyone.
What are the main problems that are affecting your business? Which are the potential solutions?
Without trying to be too specific, there are many countries in Latin America that are lacking proper gaming legislation. There also seems to be some indecision among the politicians as to whether gaming should be allowed at all and this makes it difficult for us to know where to focus our efforts.
Proper gaming regulations and legislation need to be a focal point by corresponding governments in order to move forward.
Among the markets in which you operate, which one has experienced the most notorious growth ans why?
The growth in the Latin American markets is very even according to their gaming market development. The reason as indicated before is the economy recuperation signals. Crane Payment Solutions is a highly diversified company supplying bill and coin validators and recyclers and coin dispensing units to other markets such as retail, transportation and vending, not just Gaming, AWP and VLT’s. Although it hasn’t been an easy year for us we are finishing 2010 with a solid foundation and are looking forward to exciting new opportunities for 2011.
Which one of your products has generated a higher level of sales during 2010?
The CashCode one would be our best seller of 2010. Introduced in 2008 as the first truly universal validator, the one was designed and manufacturer to handle any protocol, any voltage and any currency all in one unit. This unit has been taking market share from its predecessors the FL and MFL and can be used in any new or retrofit projects.
Which country has more margin of growth facing the coming year? Why?
It is difficult to indicate as legislation is in the process of being reviewed for approval. Two of the larger markets we hope to have decisions for 2011 are Mexico and Brazil.
In your opinion, which is the most important change at the legislative and regulatory level that took place in Latin America in 2010?
There is a lot of talk about approvals for various countries but there is nothing specific being approved that could be considered as the expected one.
Which opportunities or disadvantages do these changes mentioned in the previous question generate for your company?
If gaming legislations are not approved we will continue facing growth limitations in both the new and retrofit area. This unfortunately would be a big disadvantage for all of us in the gaming industry, not just the suppliers but the manufacturers and operators as well.
What do you expect for 2011?
As most people have heard by now, Crane Co., parent company of Crane Payment Solutions, has successfully purchased Money Controls. We are very excited about the prospects for next year now that we have a larger product portfolio to offer to our customers. The Ardac Elite from Money Controls has cornered the market in South America and can now be offered alongside the CashCode oneTM bill validator. This gives us the opportunity to offer our customers a broader range of products versus just offering them a singular solution. 2011 will be a big differentiator for us as the acquisition has made Crane Payment Solutions the second largest payment solutions provider globally.