On August 27, Konami Gaming announced that its Synkros casino management system has been selected as the technology that will be employed by Full House Resorts at two of their casino and hotel resorts. The management system will be used at the Bronco Billy’s Casino and Hotel in Cripple Creek, Colorado and at the Rising Star Casino Resort in Rising Sun, Indiana.
There are other venues within the Full House properties that are already using the Synkros system. Silver Slipper Casino in Bay St. Louis, Mississippi has been using the system since 2006.
According to Daniel R. Lee, President, and CEO of Full House Resorts, it made sense to use a product that they have come to depend on to provide excellence:
“Konami has been an excellent business partner. We were an early adopter of the Konami system at the Silver Slipper and it has worked very well for us for more than ten years. Konami has proven to deliver great reliability, along with an expansive marketing tool kit that will allow us to compete more effectively in our regional markets. We are excited to bring a new level of excitement to our Colorado and Indiana players this fall.”
This is clearly good news for the gaming company. In August it was announced that the AGEM index had dropped by over 10 points, primarily as a result of an underperforming Konami. The gaming company had seen a significant drop from July of the previous year, falling by 8.26 points on the index.
This came after 2018 that saw revenue remain flat for much of the year. In November, for example, the company reported a 1.2% increase over the same period in 2017, this despite the fact that the company saw a 28.4% increase in revenue related to their gaming division.
It appears that the company is seeing that there is greater revenue to be had in this particular area, and is why the Synkos deal should have shareholders feeling much more confident about the future prospects at Konami. Already Full House is looking to add additional systems to their properties in Nevada.
While wanting to remain in several different potential revenue sources, it is clear that their management systems platform related to gaming should be a priority. Not only is this the source of revenue that is helping to increase profits at Konami, but it also seems to be the area where they have the greatest potential to increase revenues.
