AC Coin still winning even as casinos are losing

1 December 2008

PLEASANTVILLE, New Jersey -- As reported by the Press of Atlantic City: "Mac Seelig, the founder of AC Coin & Slot, did not sound very worried.

"Yes, the economy is poor and the casinos are mired in a slump, but he's been through it before - in the 1970s, '80s and '90s. It seems every decade there's a downturn.

"'This is the third time I've seen something similar,' Seelig said of the current economic crisis. 'But the operators usually figure it out.'

"Casino operators from Atlantic City to Las Vegas are struggling to survive in what may be the industry's most difficult time ever. Somehow, Pleasantville-based AC Coin has avoided the economic woes befalling the rest of the gaming business, including the slot machine suppliers.

"...Although the casino industry has slowed down nationwide recently, the explosive growth of gaming in years past has allowed AC Coin to put its slot machines in 280 casinos in the United States, Canada and the Caribbean. AC Coin is one of the largest privately owned slot manufacturers and casino supply companies in the world. It also serves as the exclusive distributor of industry giant International Game Technology's slot machines in Atlantic City and the Caribbean.

"The company doesn't release revenue figures, but Jeff Seelig said AC Coin expects to break even this year. AC Coin is one of the few standouts in today's troubled gaming industry. Overall, gaming revenue has tumbled 2.6 percent in the 12 states that have commercial casinos. Atlantic City is down 6.6 percent in the first 10 months this year..."


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copyrighted material written for and appeared exclusively in The Press of Atlantic City
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