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Issue Date: Vol. 50, No. 4, April 2010, Posted On: 3/26/2010

Funding Stop Names Preferred Construction Company For IL VLT Sites

by Staff Reporter
The Funding Stop, Edgar Colomb, Crane Construction Company, Jeffrey Crane, Illinois video gaming, Illinois video lottery, VLT, video poker, video gaming equipment financing, equipment financing, video gaming construction codes, Illinois Gaming Board, Illinois building regulations, Illinois Video Gaming Act

BURR RIDGE, IL -- The Funding Stop LLC, an Illinois direct lender into the video gaming terminal marketplace, said it has appointed Crane Construction Co. LLC, a 50-year-old builder, a preferred contractor for its video gaming terminal customers.

Crane, based in Northbrook, IL, specializes in preconstruction plans, site evaluations and onsite management for retail, lodging, commercial and residential structures.

Funding Stop president Edgar Colomb explained that every VGT site in Illinois is likely to require some level of development to comply with codes set forth by the Illinois Gaming Board. This includes walled partitions, electrical work and networking, among other construction required to meet municipal regulations and manufacturing specifications.

"It is extremely important that the work be done to code so an operator's gaming license is never jeopardized," Colomb said. "We selected Crane as a partner because of their outstanding reputation and ability to offer market-competitive prices to our customers."

Crane Construction president Jeffrey D. Crane added, "This partnership is going to help us create jobs, which was the whole point of video gaming and the Capital Bill to begin with." He predicted that hundreds of small businesses across the state will need facility renovations all at once, and his company will be working with subcontractors to meet the demand.

The Funding Stop says it's the only direct lender in the VGT marketplace that offers financing for such ancillary development costs as build-out, site controllers, vaults and furniture.

Illinois Gov. Pat Quinn signed the Video Gaming Act into law on July 13, 2009, to generate revenue and create jobs for the struggling Illinois economy. Since that time the Illinois Gaming Board has been drafting preliminary rules and regulations for the video gaming market. The Funding Stop estimates that $1 billion will be needed to finance VGT machines, along with associated products and services.

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