GMB - Let's begin with the origins of the company. How did ChipSmith begin in the gaming industry?
Ralph Smith - ChipSmith actually started in 2010 as ChipSmith International (CSI) when my
son form the business in Utah, but other ventures took him in a different direction and CSI was purchased by Cynthia Croy in October 2015. She changed the name to ChipSmith Gaming LLC (CSLLC) and moved the business to Maine.
What are the main products that the
company offer to the market?
The primary products sold by CSLLC are gaming chips and playing cards to
casinos
only, but have invested in other opportunities and products since the inception of CSLLC.
What features stand out from your products? What levels of security do you offer to those who work with ChipSmith products?
The ability to print UV security on the edge as well as the face has been a strong point of our sales, but other features are available and would need to be divulged at the time
of
a sales. Only the upper management should know these other features.
We are presently working
with an RFID manufacturer that offers to casinos a solid track record for systems in casinos.
In what markets does ChipSmith currently operate? What is your presence in Latin America?
We only sell to
casinos world-wide, but we have other contacts in different areas/countries that speak both English and the native language of the area/country.
We have very little presence in Latin America, primarily of the language barrier, thus the reason having a bi-lingual partner. In the
Caribbean we have 2 bi-lingual partners that we work with, which are focused in Central and South America.
Who are ChipSmith's main customers? In which casinos can we find your products?
Here in the USA, you can find our chips in casinos in California, Nevada, Colorado, Florida. In the Caribbean, we are present in the Turks & Caicos, Puerto Rico, Dominican Republic and Aruba. In Asia, you can find our chips in Cambodia.
How do you see the development of the gambling law to approve the activity in Brazil? What are your
expectations with the Brazilian market?
Under the present Brazilian conditions, as I know and heard, casinos will be a BIG asset to Brazil, bringing many dollars into a
much needed country. Our sales expectations are high, but we also know that the competition with the bigger manufacturers will be tough.
Do you consider that recent visits of Las Vegas Sands and Ceasars to Brazil are encouraging for the installation of casinos in the country?
I have a deep respect for Mr. Adelson. Some of his views are some of what I believe in, so yes, I think his visit will be encouraging. I suspect that Caesars’ visit would be encouraging, too.
From your product catalog, which ones do you think may be more successful in the future Brazilian market?
I think our best product would be the RFID System for Brazilian casinos, as it would give them much better control of their bottom line.
What is the balance of this first half of the year for ChipSmith? Do you plan any launch or new product for the remainder of the year or for 2018?
We are a small company with BIG expectations. Our
6 month balance may not look very impressive, but try to expense quality first, balance/profit second.
Our plan is to launch the RFID System and the newest Stainless Steel tables, but we also have a secondary line of chips and other casino products. We also have connections for bingo supplies.
