Analyzing Casino Money Handling Processes

Analyzing Casino Money Handling Processes

William L Sprake

Webster University

Abstract

The purpose of this paper is to further analyze the processes in which casinos timely, efficiently, effectively, and accurately conduct the drop and hard count processes, secure, and ultimately recognize casino revenues.  This paper will also explore the security challenges and ethical dilemmas routinely faced by casino employees, security personnel, and patrons when exposed to large amounts of casino revenues.  Additionally, this paper will explore the current and potential effects associated with the continuous advances in modern technology. Using information drawn from multiple print media, and online sources, along with data provided by the authors to compile the information necessary to systematically and logically address the questions posed by the Operations and Project Management 14e.(2014) authors Jacobs and Chase, in the case Analyzing Casino Money Handling Processes found on pages 292-293.  The answers calculated will provide information necessary for making strategic decisions concerning the procurement of additional and/or modern electronic gaming equipment for the purpose of expediting the revenue recognition process.

        Keywords: drop and hard count

Analyzing the Casino Money Handling Processes

“Productivity – the amount of output delivered per hour of work in the economy – often viewed as the engine of progress in modern capitalist economies.  Output is everything.  Time is money.  The quest of increased productivity occupies reams of academic literature and haunts the waking hours of C.E.O.s and finance ministers.” – Tim Jackson

From the moment patrons first set foot in the original “saloons” in cities from New Orleans to  San Francisco, through the “legalization” of casino gaming in Nevada in 1931 (Wikipedia 2015), the accountability, security, and integrity of casino revenues are paramount to every employee, but especially to floor managers, owners, and investors of these establishments.  Even in today’s ultra-modern casinos, the efficiency of processes, and ethical issues surrounding how to account for, process, and secure revenues has been continually evolving.  The evolution of high-tech criminals has led to greatly increased levels of security concerning customer data bases, and processing large dollar value transactions.  For the owners and investors’ in these establishments, concerns over security measures and ethics have grown exponentially as have the complexity of the crimes committed.  This paper will focus specifically on the casino industry however, the potential for “insider” crime and invasions of personal privacy are not exclusive to the gaming industry, but an issue for all businesses today.