United Coin Machine

United Coin Machine Co. is a slot route operator based in Paradise, Nevada. It operates slot machines in locations such as bars, convenience stores, and grocery stores. It is owned by Century Gaming, a Montana-based slot route operator. For many years, United Coin was the largest slot route operator in Nevada.

History

United Coin was founded in 1958.[1] Bernard Shapiro, who had owned a coin machine business in Northern California, and a small stake in the Royal Nevada casino, started the company after the Royal Nevada went out of business.[2]

Advanced Patent Technology purchased the company in 1979.[3]

In 1980, Advanced Patent reached an agreement to sell United Coin to Bristol Silver Mines Co. for $13 million in cash and stock.[4] Advanced Patent withdrew from the offer three months later, though, saying that United Coin was now "more desirable".[5]

In 2000, United Coin's parent, now known as Alliance Gaming, agreed to sell the company for $112 million in cash plus $6 million in preferred stock to gaming developers Michael Luzich and Daniel Kehl.[6] Alliance canceled the deal a year later due to increased profits at United Coin.[7]

In 2004, Century Gaming bought United Coin for $100 million cash plus $5 million in assumed debt.[8]

The company sold off its operations in Northern Nevada to another slot route operator in 2013, but then returned to the region in 2015, placing machines at a chain of sports bars.[9]

In July 2014, the company dropped the United Coin name and rebranded its operations in Nevada and Montana as Century Gaming Technologies.[10]

References

  1. ↑ Liz Benston (July 3, 2003). "New owner to retain United Coin employees". Las Vegas Sun. Retrieved 2014-06-01.
  2. ↑ Tex Maule (April 29, 1963). "Players are not just people". Sports Illustrated. Retrieved 2014-06-01.
  3. ↑ Robert Metz (September 3, 1980). "Advanced Patent's future". New York Times.  – via Factiva (subscription required)
  4. ↑ "Advanced Patent says Bristol Silver Mines gets option for a unit". Wall Street Journal. April 4, 1980.  – via ProQuest (subscription required)
  5. ↑ "Advanced Patent says SEC seeks information on stock sales". Dow Jones News Service. July 2, 1980.  – via Factiva (subscription required)
  6. ↑ "Las Vegas-based slot route operation sold for $118 million". Las Vegas Sun. July 10, 2000. Retrieved 2014-06-01.
  7. ↑ David Strow (June 26, 2001). "Financial turnaround prompts cancellation of slot route deal". Las Vegas Sun. Retrieved 2014-06-01.
  8. ↑ Kevin Rademacher (July 1, 2004). "Shake-up under way at Alliance". Las Vegas Sun.  – via Factiva (subscription required)
  9. ↑ Howard Stutz (March 3, 2015). "Century Gaming wary of proposed new slot machine tax". Las Vegas Review-Journal. Retrieved 2015-03-09.
  10. ↑ Howard Stutz (July 14, 2014). "United Coin Machine changes name to Century Gaming Technologies". Las Vegas Review-Journal. Retrieved 2015-03-09.

External links

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