“Why most of you guys are probably interested in it at this time is the reduced physical contact, (eliminating) the dirty nature of cash going back and forth from people,” Greg Beadles, chief financial and administrative officer of AMB Sports & Entertainment, told the conference participants.
Gordon Barfield, AMBSE’s director of business strategy, said Mercedes-Benz Stadium’s conversion to a cashless operation resulted in a $350,000 expense savings last year. That came by eliminating costs associated with moving, counting and securing large amounts of cash in the stadium.
Barfield also said the stadium had a 16% increase in food and beverage sales per capita.
For those without credit or debit cards, 10 kiosks were installed around the stadium, where cash can be loaded onto prepaid debit cards with no transaction fees. Only 1.2% of fans used the kiosks last year, Barfield said.
A cashless model for stadiums “made sense before COVID-19 struck,” Cannon said. “We think it makes even more sense given the fear that resounds around the country and in our fan bases around proximity and touching.”