Betson Midwest Restructures: Kirby Becomes Managing Director, Cravens Exits
CHICAGO -- Betson Enterprises, a division of H. Betti Industries, said former Betson Distributing president Rick Kirby has been appointed managing director of Betson Midwest. In his new post, Kirby will oversee all vending and coin-op activities, including Betson's exclusive representation of WMS Gaming in Illinois for video gaming terminals.
Todd Cravens, former Betson Midwest branch manager, has left to pursue an opportunity with Alpine Investors, a private equity firm based in San Francisco. HBI president Bob Geschine praised Cravens' contributions to building the branch and wished him success in his new endeavor.
Mark Meenan, who has managed Betson's Phoenix, AZ, and Hayward, CA, offices, will relocate to Illinois to join the Midwest management team. Also new is Michael Pettyjohn, who is joining the office as financial services manager. He brings more than 20 years' experience gained in comparable posts.
Kirby (pictured here), a longtime Betson executive, held the post of divisional president between 2000 and 2008. When the position was eliminated in October 2008, Kirby was reassigned to Betson's New England office in Canton, MA, but he retained certain corporate responsibilities, including his seat on the company's executive board. Kirby was previously vice-president and general manager of the company's New England Coin-Op (NECO) Distributors division, which was renamed Betson New England.
Betson And Funding Stop Enter Illinois Video Gaming Alliance
BURR RIDGE, IL -- H. Betti Industries Inc., the parent of equipment distributor Betson Enterprises, and The Funding Stop LLC announced a financing alliance to support the recently approved Illinois Video Gaming Act.
"We anticipate Betson to be licensed quickly in Illinois while WMS is already a well-respected name in the gaming industry," said Edgar Colomb, president of Funding Stop, an Illinois direct finance lender into the VGT marketplace. "This agreement expands Funding Stop's ability to bring value to customers in Illinois."
Betson Midwest (Bensenville, IL) this month announced an agreement to distribute terminals made by WMS Gaming Inc. (Waukegan, IL). Illinois' Video Gaming Act requires that all video gaming terminals be sold through authorized equipment distributors.
According to Colomb, the new VGT market could create a $1 billion demand for video gaming terminals and accessories. He observed that operators in Illinois are aggressively developing business plans and raising capital "to gain a first-to-market advantage" in what's expected to rapidly change the state's entertainment landscape.
HBI president and financial chief Bob Geschine noted that The Funding Stop understands niche gaming markets, possesses capital to finance them and can build customized packages for operators. "Satisfying our customers' needs is our focus and this alliance is part of the Betson philosophy of delivering comprehensive gaming solutions in this marketplace," he said.