Chicago, IL, March 23, 2018 – Eureka Entertainment, LLC, announced today that it has acquired Universal Gaming Group, a prominent Chicago-based terminal operator that was the first company to install video gaming terminals in Illinois. Eureka expects that Universal will serve as a platform for additional acquisitions in the next several years. The acquisition was funded by Housatonic Partners.
“Universal has a strong customer service culture, and its managers and employees are top professionals who strive for excellence,” said Eureka CEO Russell Poore. “The company has well developed compliance and operating processes, and we think it is poised for significant growth. I am excited to join the team.”
“We have known Russell for over 20 years, and this is our second investment with him. We have enjoyed working with him to find this opportunity, and are excited to partner with him again,” said Mark Hilderbrand, a Managing Director of Housatonic Partners. “We believe Universal is well-positioned in this fast-growing market, thanks in part to their focus on industry-leading service response and demonstrated commitment to doing things the right way. We look forward to further investment in the industry, and to Universal’s success”.
Universal started its business in 2009 in anticipation of legislation that permitted video gaming terminals in Illinois restaurants, bars, and veterans and fraternal organizations. Its terminals went live for the first time in September 2012. The industry helps support Illinois’ Capital Projects Fund, which in turn supports a $28 billion infrastructure program.
Universal will continue to do business under its current name and will provide sales, service, and collection support using the same staff. The ongoing leadership team at Universal boasts over 30 years of collective experience in logistics, amusement, and entertainment industries.
Universal’s founders and owners, Monica and Rob Breslow, will leave Universal to focus on other business opportunities. “We are so proud of our team,” said Universal CEO Monica Breslow. “This business was built from scratch on the shoulders of people dedicated to doing it well and doing it right. With Eureka, that tradition is sure to continue.”
Terms of the purchase were not disclosed. The sale is effective immediately.
About Universal Gaming Group
Universal Gaming Group is a leading operator of Video Gaming Terminals in Illinois. Universal partners with restaurants, bars, veterans and fraternal organizations, and truck stops to provide on-site gaming to patrons. Universal distinguishes itself in the market through industry-leading service response, compliance, and regularly updated game options. Founded in 2009, Universal currently serves approximately 200 customer sites throughout Illinois. For more information, please visit www.ugaminggroup.com.
About Housatonic Partners
Housatonic Partners is a private equity investment firm founded in 1994, with more than $1.3 billion in capital under management. The firm invests in growing, profitable businesses with highly recurring revenue. Housatonic Partners has backed exceptional management teams in more than 90 small to mid-sized companies over the last 24 years. For more information, please visit www.housatonicpartners.com.