SuzoHapp Group, a supplier of cash-handling systems to casinos and other businesses, says logistics hurdles and commodity shortages are among the reasons for higher prices of some of the group’s products. The explanation was included in a Thursday statement from the company.
“Over the past few months, you may have noticed price increases on some of our core products,” stated the firm, adding that it wished to clarify the reasons the “price increases were necessary”.
“Shipping costs and lead times have increased due to higher fuel prices, higher demand for, and limited supply of, shipping materials,” said the company.
SuzoHapp Group says its cash-handling product business is being split from its “core” gaming-, amusement-, and sports betting-technology business.
The group flagged the change in a Monday statement, saying it was “effective immediately”. The new cash handling business will be called PayComplete.
Sim Bielak, global president of SuzoHapp, was quoted in the press release as saying: “As our offerings grew in number and complexity, it became apparent that we could operate more efficiently and serve our customers more effectively by separating into two independent entities.”
He added: “The increased focus we can now bring to our gaming and amusement business will bring us closer to the customer as we align our offerings more directly with their needs.”