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Our motto: "Big enough to serve, small enough
to care" was coined not by us but by a satisfied
customer who sent us these words along with his loan
payment.
What
better testimonial to the spirit of personalized service
that characterizes our business philosophy!
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Firestone Ready to Finance Video Poker for Illinois Operators
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Newton, MA - July 1, 2009 -
Prediction: New Law Will Result in up to 45,000 Machines
Firestone Financial Corp. is gearing up for a wave of new business in Illinois now that video poker / lottery terminals (VLTs) legislation is being proposed.
At the 2009 Annual Meeting of the Illinois Coin Machine Operators Association (ICMOA) in early June at the Grand Geneva Resort & Spa in Lake Geneva, Wisconsin, Firestone President David Cohen commented to operators in attendance, “We’re excited about changes in Illinois law that legalizes VLTs. We’re not newcomers to Illinois. We have an excellent, longstanding track record with coin-op operators across the state, having provided financing for over 275 coin-op operators in Illinois. We’re the industry specialists.”
Cohen, noting that Firestone is one of the largest independent lenders in the coin-op industry, says his company has financed over $286 million in the last three years, representing over 10,000 contracts in all 50 states. “We have a strong reputation and name recognition in our industry,” he said. Cohen said his company’s long-time relationships with coin-op machine makers makes possible special promotions that can result in lower financing costs and/or lower unit prices. In the past, Firestone Financial has financed VLTs for operators in Louisiana, Montana and West Virginia.
With the legalization of VLTs, it is predicted that up to 45,000 machines will ultimately find their way into bars, restaurants, truck stops, bowling alleys and civic clubs. New revenues, estimated to generate some $300 million per year for Illinois, will be used to help fund a capital budget for the state.
Contact:
Jim Hines, VP-Sales/ 800.851.1001 / jhines@firestonefinancial.com
Sal Cifala, Sales Executive/ 800.851.1001 / scifala@firestonefinancial.com
- By Stanley Hurwitz
stanhurw@comcast.net
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