Post IPO, Avigilon targets casino market Megapixel camera provider hit $40.5 million in sales in Q3
By Whit Richardson
Updated Tue December 20, 2011
YARMOUTH, Maine—A veteran Las Vegas security director has joined Avigilon to help the megapixel surveillance camera manufacturer increase its presence in the casino and gaming sector, said Keith Marett, Avigilon's director of marketing.
Douglas Florence, formerly VP of security and surveillance at M Resort Spa Casino in Las Vegas, will lead Avigilon's expansion into the casino market as its business development director of global gaming.
Avigilon expects to see growth in the gaming market because the vast majority of casinos still rely on low-resolution analog cameras, Marett said.
Casinos are beginning to realize the benefits of IP-based cameras and megapixel technology. "It really comes down to offering the latest technology that provides the best ultimate image quality, which leads you to the best evidence," Marett said.
Avigilon already has a footprint in the gaming space, but "this is a significant expansion for us," he said.
Florence has worked in the security industry for 35 years. In addition to his position at M Resort Spa Casino, he was executive director of security at the Hard Rock Hotel and Casino in Las Vegas and director of surveillance at The Mirage.
"He is going to be our material expert when it comes to meeting with casinos," Marett said. "He is quickly going to grow the casino market's knowledge of Avigilon and what we offer."
Globally, 75 percent of surveillance camera sales are still analog, Marett said. But he expects the IP segment of the market to continue to grow. The casino market is in its "infancy stage" and behind the regular market, "so if the regular market for IP-based video is only 25 percent, they're probably in the range of 10 percent," Marett said.
Avigilon Corp. raised $25 million in an IPO in November.
The company had been profitable since 2009. It had sales of $5.1 million in 2008 and $16.6 million in 2009. In 2010, Avigilon had sales of $31.7 million. It ended Q3 of this year with $40.5 million in sales.
Martha Entwistle contributed to this report.
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