LV company buys Internet slot seller

Wednesday, July 19, 2000 | 11:06 a.m.

PDS Financial Corp. of Las Vegas said it acquired CasinoSlotExchange.com, all customer lists and some other assets from CJ's Slot Connection for an undisclosed price.

PDS finances, leases, sells, manufactures and refurbishes gaming equipment like slot machines for the casino industry.

CasinoSlotExchange.com provides an online marketplace for the purchase and sale of used gaming equipment. The site allows casinos, manufacturers and distributors to list the slot equipment they have for sale. Buyers can have purchased equipment refurbished, financed or leased through the site.

"The acquisition of this established online business-to-business virtual market will expand our distribution channels and may ultimately become our primary equipment distribution methodology," said PDS Chairman and Chief Executive Johan Finley. "PDS Financial Corp.'s multi-state gaming licenses should greatly enhance the distribution capabilities of CasinoSlotExchange.com, as well, since it was formerly licensed to operate only in Nevada and Minnesota."

Carl Fredericksen, founder of CasinoSlotExchange.com and CJ's Slot Connection, joined PDS as a senior vice president.

PDS said CJ's Slot Connection handled slot equipment transactions valued at about $5 million last year.