2nd Sep 2014 07:44
LONDON (Alliance News) - Boxhill Technologies PLC Tuesday said the first casino cash machines operated by its Pay Corporation Ltd subsidiary are operational in London's Hippodrome casino, and it has signed more contracts which will see the machines put into many of London's biggest casinos.
In a statement, the company said the next cash machine will be installed at the new Hilton Park Lane Casino, while eight further sites have been agreed subject to contract. Pay Corp will also be surveying sites across the country over the next two quarters.
The company says the cash machines mean casino clients don't have to carry around large amounts of cash and aren't limited to the maximum daily withdrawal limit set by their card issuer. The machines also captures data on players who will spend between GBP1,000 and GBP100,000 a visit, data that can be used by casinos to "enhance the player experiencefor this important group of customers".
"There is a significant group of casino visitors who want to stake amounts in excess of GBP500 and do not have arrangements with casinos - Casino Cash allows those players to access larger amounts of money at the casino," Boxhill Chief Executive Philip Jackson said in a statement.
Boxhill also said it has received notice that the remaining GBP46,875 of the GBP250,000 loan it took out a year ago from a consortium of private investors will be converted into shares. It will issue 28.8 million new shares at 0.1625 pence as a result. It had converted GBP203,125 of the loan into shares in July.
Boxhill Technologies shares were down 4.4% at 0.110 pence early Tuesday.
By Steve McGrath; [email protected]; @stevemcgrath1
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