(PRESS RELEASE) -- – Las Vegas-based Marker Trax, LLC and its affiliate Koin Mobile today announced the launch of Koin, a stand-alone gaming financial wallet platform that dramatically improves convenience and reduces costs for both gaming patrons and operators alike.
Koin, combined with Marker Trax, delivers on their joint mission to create a seamless and convenient digital marker experience. The new Koin solution allows patrons to use a single digital wallet for all their gaming, resort, and general retail purchases.
“Customers want the convenience of a single digital payment solution they can fund however they choose, 24 hours a day, seven days a week, and use seamlessly throughout their resort experience, while operators love the ability to track spend, optimize brand loyalty, reduce operating costs and generate gaming lift. Marker Trax with Koin addresses all these objectives head-on,” said Charlie Skinner, chief operating officer of Marker Trax.
Customers enrolled with Koin can use a single digital wallet for all of their resort purchases, including gaming, food and beverage, accommodation and retail. Operators, in turn, will see the benefits of lower overhead cost in customer loyalty programs, increased spend and game lift with better systems to track customer behavior across the entire resort.
“It’s a mutually beneficial innovation for all parties, and we’re excited for where it will lead gaming, as the industry continues to embrace broader digital and payment technologies,” said Gary Larkin, chief strategy officer for Koin.
Marker Trax is currently active at commercial and tribal casinos throughout the United States, including some of the largest resorts in the country. It is a digital alternative to traditional casino markers. It increases convenience for patrons, while allowing operators to manage underwriting and repayments more easily, ensuring money remains in the casino by tracking the marker in a digital account, and automatically collecting funds at the end of each gaming session.
Available with integrated Marker Trax features or as a stand-alone payment solution, Koin integrates with any existing casino technology, without requiring extensive system upgrades. It allows customers to track, manage and control both gaming and retail spending, and features a digital “wallet” that can be used throughout an entire resort, including all gaming and retail locations. Customers can also choose to add a debit card to their Koin wallet, providing extended payment options through millions of retailers.
For customers, this integration enhances convenience, eliminating the need to pre-fund an outside wagering account, or pay expensive ATM or cash advance fees. With Koin and Marker Trax, a patron can wager using their own funds or take advantage of the unique Marker Trax credit solution for gaming. Through the Koin wallet, customers can simply play their favorite games, enjoy their favorite restaurants at the resort, pay for their hotel stay or shop at participating retail outlets, settling the transactions through their Koin digital wallet.
Operators, too, will benefit from this new partnership. Cash management has been a traditionally high-cost barrier for operators interested in utilizing this emerging technology. Migrating to more digital wagering greatly reduces operating burdens, and Marker Trax with Koin allows operators to track player gaming and other spend throughout the resort, increasing game lift while supporting more player-centric loyalty programs, and stronger brand-building opportunities, with minimal upfront expenditure.
The Marker Trax and Koin integration will debut at October’s Global Gaming Expo (G2E) in Las Vegas, before officially launching to the public later this year, starting at the Ellis Island Hotel & Casino in Las Vegas.
“This is a transformative time for both our companies and gaming as a whole, and we’re confident Koin and Marker Trax will play a leading role in that evolution, just as Marker Trax has thus far,” said Gary Ellis, founder and CEO of Marker Trax.
The announcement comes on the heels of the company signing a definitive agreement with Euronet Worldwide, Inc. in March, increasing the scale of its operations.
Kevin Caponecchi, Euronet’s executive vice president and CEO for epay, software and EFT, Asia Pacific Division, explained his company’s involvement by saying, “Watching the rapid adoption of the Marker Trax solution has been very exciting, and we are even more enthused to be an invested player in their future success.”