“I just love standing in queues for hours and hours…”, said no one ever. Do you ever just go to events either super early or super late to avoid the lines altogether? Looks like Metricon Stadium has a solution as it signed on sports, leisure and hospitality SaaS technology provider MSL Solutions (ASX: MSL) for its point-of-sale technology to make queuing more efficient (and hopefully, redundant).
MSL has signed a five-year agreement worth $800k with the AFL’s Gold Coast Suns to deliver its integrated point-of-sale (POS) system across the catering outlets at their home ground, Metricon Stadium.
As per the contract, MSL will provide 150 SwiftPOS terminals across the 27,500 capacity venue. The total contract value comprises a combination of upfront and recurring revenue including hardware, software, support and implementation. However, the Company acknowledges that it can only provide an accurate revenue figure in FY23 once the system is actually on ground.
MSL Chief Executive Officer, Pat Howard detailed, “We are delighted to continue our recent successes in the ANZ major event venue market. SwiftPOS is now seen as the preeminent POS solution of choice for stadia, convention centres and arenas with 7 new venues coming online in the last 18 months alone.”
MSL acquired SwiftPOS in November 2020, and the acquisition went on to add $4 million in gross margin during FY22. Venues increased by over 1,000 as UK expansion opportunities picked up.
SwiftPOS has given MSL a competitive edge in the stadium and enterprise hospitality market, with successful expansion in the APAC region and the UK. Over the past year, the Company has partnered with numerous top companies, such as AAMI Park, Eden Park, the Gabba, Angus Steak House and the Thames Valley Theme Park.
The Suns required a tried-and-tested POS system for Metricon Stadium to improve match day experiences by speeding up queues. Metricon features an AFL oval and is capable of hosting cricket matches, concerts, festivals, athletics events and soccer matches and hosted the opening and closing ceremonies of the 2018 Commonwealth Games.
Howard added, “With such an exciting future for Metricon Stadium, we are thrilled with our expanded partnership with the Gold Coast Suns, Stadiums Queensland and O’Brien Group Australia.”
In FY22, the Company reported an increase of over 80% in new sales on pcp. MSL’s revenue also grew by 37% to $33.9 million, while the SwiftPOS revenue increased by 30% in FY22.
Metricon Stadium Facilities Manager, Shannan McLuckie concluded, “SwiftPOS was an easy choice as it is an enterprise grade solution, designed for speed and simplicity, ensuring our guests are served faster.”
That said, whether this solution will actually ease the queuing up system during matches is yet to be ascertained.
Alinda is a Business Reporter for The Sentiment
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