(Topic ID: 15898)

Coin-Ops make this much? Really?


By pindevil

7 years ago



Topic Stats

  • 12 posts
  • 11 Pinsiders participating
  • Latest reply 7 years ago by goatdan
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    #1 7 years ago

    I was talking to my folks last night in my home town. They are well aware of my pinball hobby so they were eager to tell me the latest news regarding the local Coin-Op. Apparently the owner of the local Coin-Op is being charged with tax evasion.

    According to web site below he failed to report $4.8 million in sales over a three year period
    http://www.1380kcim.com/Carroll-business-owner-faces-tax-evasion-charges/13012274

    I had no idea this amount of sales could be had these days...

    #2 7 years ago

    Holy bananas.

    #3 7 years ago

    coin machines might cover a broader market than coin-op. I doubt there is $1MM a year in operating coin machines. However, if one is selling coin machines (vending, entertainment, etc) that would certainly be in the realm of a $1MM a year gig.

    #4 7 years ago

    Definitely would be pretty easy to not claim the cash/coin income "well, we only made $30 in quarters this week...*pockets the other $100 in quarters in the box*"

    #5 7 years ago

    Surely that is a business that sells coin machines

    #6 7 years ago

    An interesting quote from the company's owner, from 2010...
    http://tapmag.com/2010/09/15/will-that-be-paper-or-plastic/
    "Paperless money is too hard to collect," said Dan Goins, owner of Kelly Coin Machine Company in Carroll, Iowa. "I like cash. The customers spend it and you have it in your hands."
    (Of course, paperless transactions are also harder to hide from the taxman...)

    I suspect most of the money in coin-op is from stuff like quarter-pushers, bartop games, and redemption crap. Even traditional arcade games, much less pinball, have fallen by the wayside on location. (There are still a couple of popular arcade video games... Golden Tee, Big Buck Hunter, and those Pacman/Galaga combos come to mind. They must be earning something, or they wouldn't be so common on site.)

    #7 7 years ago
    Quoted from Nibbles:

    "well, we only made $30 in quarters this week...*pockets the other $100 in quarters in the box*"

    +1 That's what I was thinking.

    #8 7 years ago
    Quoted from Nibbles:

    Definitely would be pretty easy to not claim the cash/coin income "well, we only made $30 in quarters this week...*pockets the other $100 in quarters in the box*"

    lol... halarious.

    #9 7 years ago
    Quoted from Legacy:

    Surely that is a business that sells coin machines

    From what I remember growing up in the town, they had pinball machines, video games, cranes, etc in local restaurants and the bowling alley. They also had an arcade in the mall.

    They have been around for a long time. Maybe they sold off a huge cache of old equipment

    #10 7 years ago

    depending on the location and the type of machines, that is not as far fetched as some may think. before we got out of the route side of the business we had about 7 FEC style location (redemption, video, merchandisers, etc) and about 95 standard (bars, campgrounds, resorts, etc) and one of the FEC hit $950,000 gross for the year. This was back in 2001, so it would think that it is entirely possible for an operator to hit the kind of numbers stated if they are doing more than just street locations.

    #11 7 years ago

    Yeah hard to imagine because we put in 1 quarter here and there. But when it comes to volume then the numbers line up.

    Look at what the airlines made for charging for baggage.

    Were going to charge $25 for bags.... cool we should made some side cash. Try 3.4 Billion in 2011.
    Thats over 3000 million dollar bills if there were such a bill.

    #12 7 years ago
    Quoted from KingPinGames:

    and one of the FEC hit $950,000 gross for the year.

    I don't like naming where I've worked before, but people could figure this out if they cared... but there was another location near to our store that made over $1,000,000... per month. Of course that wasn't all game play, but it makes $4.8 mil over three years seem pretty easy - this store would've pulled in $36 mil in that timeframe.

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