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Regency Entertainment Casino Group in Greece Specifies MEI after Extensive VAT Trial

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Reading, England– December 2007

The Regency Entertainment Group of casinos in Greece operates two major casinos – in Thessaloniki in Northern Greece and Mont Parnes in Athens. Both casinos belong to one of the largest and most profitable casino groups in the whole of Europe. Indeed Regency Casino Thessaloniki alone welcomes over 1 million visitors every year. With the combination of 911 slots, 77 tables, restaurants, bars and a theatre, customer entertainment is assured and the casino draws visitors from far and wide. Casino Mont Parnes operates 708 slots and 76 tables with plans for a major expansion which will see the number of the slots being doubled. It was back in 1994 that the Greek State decided to privatise casino ownership at Mont Parnes and Hyatt Regency assumed 49% with 51% remaining in state ownership. It was the intention of the State to allow private enterprise to modernise the casino. In 1996 Hyatt Regency opened Casino Thessaloniki, situated very close to the airport. In March 2006 BC Partners (a major investment company) acquired a substantial percentage of Hyatt Regency and in October 2006 renamed the casino group to Regency Entertainment S.A.

Over the years, Regency Entertainment has focused on growth via customer care and has always welcomed  technological advancements. While the move to TITO provided a real challenge to the casino industry,  it gave Regency the opportunity to review all facets of their business. Given the growth in slots, they needed to make sure the best banknote reader was selected for their TITO initiative. Indeed, the strong usage of slots makes the banknote reader a real focal point. Increased acceptance rates, but more importantly higher acceptance of normal, everyday used notes can increase the take on the slot floor and thus increase its profitability. In a group that will soon have over 2500 slots to its name, banknote reader quality is key. Thus, both Slots Directors, Dmitris Kristallis at Regency Casino Thessaloniki and Evaggelos Dimou at Regency Casino Mont Parnes, welcomed the opportunity to trial the banknote reader from MEI – the CASHFLOW® SC83. Dmitris Kristallis stated, “The positive feedback that MEI has created amongst casinos in America and now into Europe and Asia made it clear to us that we should participate in the VAT process. We tested the MEI CASHFLOW® SC83 over 6 months against the best that the market has to offer. Our results clearly demonstrated that MEI is the market leader in casino banknote technology. The product is really user-friendly and is virtually free of problems; a key benefit that our technical team really appreciates ”.

Regency Entertainment indeed performed a major, extensive VAT. Over 50 units were involved in the trial with data being finely analysed. The technology of the MEI CASHFLOW SC83 has again proved its worth. Its technology has underlined the advantages MEI brings to casinos. The product design ensures that each and every banknote can be analysed with excellent accept rates of banknotes in all conditions – regardless whether new or old and worn – thus increasing the banknote take and increasing profitability. The management of both casinos have pledged their support to MEI and will be specifying MEI as the standard banknote reader for future slot purchases.

Mark Greenawalt, MEI’s European and African Gaming Director stated, “We are absolutely delighted with Regency's decision to specify MEI CASHFLOW on all new machine purchases.  I am convinced they have selected the best product for their casino floor and I know they will continue to see the benefits of the CASHFLOW.   The results of the trial confirm the promise of making more money with MEI.  We look forward to working with Regency now and with their expansion plans.  With all of the major OEM slot producers supporting and offering MEI, we will be able to satisfy Regency's future specifications and their performance demands”.  Mark added, “We are very pleased with the results of Regency trials, and would like to thank the Regency team for their support and for their continued business.

Evaggelos Dimou confirmed why Regency Casino Mont Parnes has decided to specify MEI on all future slots, “We wanted to make sure our decision was the best for the business.  So, we took a look at the banknote readers which are the most well-known brands in Europe. After the trial, we concluded MEI outperformed their competitors by a favourable margin. To this end, we know we can make more money with MEI. When MEI suggested the VAT to us, we asked what we would get out of it. Now that it is over, we are pleased with the outcome. MEI and the CASHFLOW product delivered what was promised”. Dmitris Kristallis added: “The choice at the end of the day was simple. MEI offers us more advantages at no extra cost as it is priced the same as other banknote readers available from slot OEM’s. The CASHFLOW SC83 has brought something new to the casinos – something we can see the benefit in using”.