Casinos & Gaming Risk Management Solutions: Get to Know Your Odds to Mitigate Risk
By Ashish Sam 03-Mar-2022
The gaming industry thrives on games of chance and the accompanying risk. Whether casual players on slot machines or high rollers, gamblers at casinos are drawn in by the thrill of that chance and its associated risk. When it comes to financial institutions, however, risk management and mitigation are critical components of operational and reputational stability. The gaming industry cannot afford to gamble on its own security.
The experts at Scadea have been serving the casino and gaming industry in the U.S. and internationally for more than 10 years. Scadea Solutions Inc. works on behalf of casino owners and their insurers to provide affordable risk mitigation solutions that deliver measurable results. Whether your need is employee theft reduction, IT security, or internal loss controls, Scadea Solution Inc. has the experience and expertise to help.
We offer a broad range of services targeted to meet the specific needs of casinos and the stringent requirements of insurers and regulators:
- Risk Assessment
Quantifying the areas and levels of risk within a casino and gaming operation can be a daunting task. We have developed a proprietary Risk Scoring methodology and online reporting system that provides a powerful tool for identifying, addressing, and mitigating risk. This timely and cost-effective service provides a detailed management snapshot of more than 40 assessment areas; the results of which drive more effective risk management.
Some of the key reported assessment areas are:
- Surveillance and Security
- Chip Fills and Major Cage Transactions
- Dice and Card Storage, Control, and Inventory
- Credit Operations
- Cage Operations
- Slot Ticket Security
- Hard and Soft Count Procedures
- Accounting and Wire Transfers
- Personnel and Training
- IT / Information
Our risk assessment service can be tailored to meet your needs. In a limited or full-scope on-site risk assessment, our experts are sent to your operational field location(s) for hands-on evaluation and documentation of current policies and procedures. The result is a formal report highlighting both commendable and adverse findings, with a set of recommendations developed to minimize losses and maximize security and profits.
If a loss does occur, we can dispatch skilled investigators, each with broad backgrounds in private investigation, forensics, law enforcement, and fraud examination. Furthermore, our forensics tools can be used to recreate loss scenarios, restore digital artifacts, and reconstruct or recover assets should the need arise. Our team of investigators is Certified Fraud Examiners (CFEs), Licensed Private Investigators, and Certified Forensic Investigators (CFIs), who are selected for their experience in specific types of casino investigations.
Complementing the Scadea’s-administered Risk Scoring service is a self-evaluation tool based on the same methodology. This service extension allows casino operators to conduct their own audits of internal controls and operational procedures at a reduced cost and without the interruptions experienced during an external audit.
Scadea Solutions Inc. scores the self-evaluation results and discusses the outcome with the casino’s designated representative(s) to prioritize and address areas in need of improvement. An in-depth IT security module, based upon the provisions of ISO 17799/27001, COBIT, and other pertinent standards and regulations, is also available as a separate, self-scoring service. Followup services include external penetration and internal vulnerability testing, and a comprehensive evaluation of all aspects of IT security specific to the gaming industry.
Our flexible Risk Scoring solution is proven to uncover areas of vulnerability that lead to the development of strategies to reduce losses and increase profitability while stabilizing insurance premiums.
Gaming industry clients have relied exclusively upon Scadea Solutions Inc. to conduct pre-and post-coverage risk assessments as a primary strategy for reducing potential losses and maximizing profits. This trust has been earned over time through a combination of in-depth industry risk mitigation knowledge, innovative solution development, and reliable integrity. Experience, innovation, and results make Scadea Solutions Inc. the perfect partner to help mitigate your casino and gaming risk.