Century Gaming buys United Coin

Jul 6, 2004 6:40 AM

Century Gaming Inc., Montana’s largest gaming route operator, is taking its show to Nevada with the purchase of United Coin Machine Co., Nevada’s largest route operator.

Under the terms of the agreement, Century Gaming purchases United Coin from Alliance Gaming Corporation for $100.4 million in cash and the assumption of about $5 million in debt. The agreement also stipulates that United Coin will acquire a certain number of gaming devices from Alliance’s Bally Gaming subsidiary over a five-year period.

With the completion of the acquisition, Century Gaming and its subsidiaries become the largest gaming route operator in the United States with over 10,000 video poker and slot machines in over 800 locations in Montana and Nevada. Century Gaming is projecting combined annual revenue in excess of $250 million.

United Coin has over 8,200 video poker and slot machines installed in casinos, taverns, convenience, and grocery stores throughout Nevada. The company, founded in 1958, has offices in Las Vegas and Reno.

Century Gaming, which has offices in Missoula and Billings, has over 1,800 video gaming devices installed across Montana.

The acquisition of Nevada’s largest route operator provides Century Gaming with substantial growth opportunities, according to J. Grant Lincoln, president and chief executive officer.

"United Coin is Nevada’s premier route operator in one of the nation’s fastest growing areas," Lincoln said. "We intend to maximize the deployment of our proprietary technology while continuing to provide our customers with the best games, technology and service. With the addition of United Coin to our organization, we are clearly the industry leader and look forward to pursuing every opportunity to maintain and enhance this position."

With the completion of the acquisition, Steven W. Artnzen in Billings has assumed the title of senior vice president and chief operating officer of the Century’s Montana operations. Robert W. Nader, currently the senior executive of United Coin, will remain with the company as chief operating officer of the Nevada operations.