United Coin Machine

United Coin Machine
IndustryCasino games
Founded1958
Fateacquired by Century Gaming Technologies
Headquarters
Paradise, Nevada
,
USA
Key people
Bernard Shapiro
Websiteunitedcoin.com

United Coin Machine Co. was an American slot route operator based in Paradise, Nevada. It operated slot machines in locations such as bars, convenience stores, and grocery stores. 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. Archived from the original on November 25, 2011. 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. ProQuest 134383954.  – 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.