SlotCycle Raises $5.6M to Transform Secondary Gaming Equipment Market, Led by Discerning Capital
Thursday 23 de January 2025 / 12:00
2 minutos de lectura
(Las Vegas).- SlotCycle, the leading marketplace connecting buyers and sellers of gaming equipment, today announced the successful closing of $5.6 million in growth capital. This strategic investment, led by Discerning Capital and including participation from other industry investors advised by Spectrum Gaming Capital, highlights SlotCycle's mission to revolutionize the secondary gaming equipment market through advanced technology, exceptional service, and robust physical infrastructure.
Driving Transformation and Growth
The funding round includes Davis Catlin, managing partner of Discerning Capital, joining SlotCycle's board of directors alongside other seasoned industry veterans. Catlin emphasized the platform's impact: "SlotCycle is revolutionizing the secondary gaming equipment market by addressing inefficiencies and creating value for buyers and sellers. Its multisided marketplace delivers transparency, efficiency, and reduced transaction risks—qualities transforming this fragmented industry. We're excited to partner with SlotCycle to accelerate this growth."
Strategic Use of Funds
SlotCycle will use the capital to enhance its white-glove consignment services, where machines are serviced for resale, and to grow its fully digital marketplace, SlotCycle.com. This platform connects buyers and sellers globally, offering regulatory compliance, broader market access, and competitive pricing.
Scott Barber, CEO of EBCI Holdings and an early SlotCycle investor, shared his enthusiasm: "SlotCycle.com offers unmatched solutions for operators and manufacturers, addressing challenges like compliance and logistics while streamlining transactions. This funding will help SlotCycle advance its innovative approach to the market."
Bridging the Digital and Physical
Combining its 35,000-square-foot Las Vegas service center with the digital capabilities of SlotCycle.com, the company is uniquely positioned to assess, refurbish, and distribute slot machines and parts, with plans for significant growth. Founder and CEO Jeff Jordan, recently named one of GGB Magazine's Top 25 Leaders to Watch in 2025, remarked: "This growth capital empowers us to enhance our digital platform, expand partnerships across Asia, Europe, and Latin America, and strengthen our position as the essential partner for operators, manufacturers, and resellers worldwide."
Categoría:Gaming
Tags: SlotCycle,
País: United States
Región: North America
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