Caesars Entertainment announced it will partner with Fifth Third Bank to expand Currency Processing Solutions, a comprehensive managed service method for managing and handling cash that lowers labor costs and paperwork, minimizes theft and increases access to working capital. Since Caesars applied Fifth Third Bank CPS at its first property in January 2014, it has added seven more properties. Today CPS supports food and beverage, retail, cage and slots at eight Caesars locations. Fifth Third also developed productivity-boosting software for Caesars to reduce the time securing beginning tills and making post-shift deposits.
Clay Behrman, director of enterprise operational finance at Caesars Entertainment Corporation, said, “We continue to expand this program across our franchise because the smart safe technology combined with the managed service aspect allows us to spend less effort managing cash and more time focused on customer engagement and experience. We have been extremely satisfied and impressed with the level of support that we have received from Fifth Third Bank.”
John Bultema, Fifth Third Bank executive vice president, treasury management and currency processing solutions, noted, “As our Currency Processing Solution has evolved into a managed service that complements the benefits associated with smart safe technology, we are reducing many of the pain points our commercial customers experience with handling cash. We are delighted that our solution is enabling commercial customers like Caesars Entertainment to reduce costs of handling cash, streamline operations and free up working capital.”
