Making Old New Again
What happens to a slot machine when a casino decides to replace it with a newer one? Up until just a few years ago, that game would head to the casino warehouse and collect dust.
There had to be a better way, and Jeff Jordan, CEO of SlotCycle, came up with one. It is to become a marketplace for slots, and parts. Along the way, Jordan was able to expand the service, selling slots for several large casinos—including some that were closing down to sell their slots in bulk.
Today, SlotCycle.com is the main place to buy slots individually or in multiple packages, and Jordan’s been working with companies like Cache Creek, Pechanga, Wynn Resorts, Light & Wonder, Station Casinos and Penn Entertainment, among others.
Jordan says the road was long, but it’s now paying off.
“Over the past four years, we’ve launched a multi-sided, regulated marketplace that connects buyers and sellers of gaming equipment with unparalleled transparency and efficiency,” he says.
“SlotCycle’s revenue has grown year over year by consistently delivering better solutions for our clients while maintaining positive cash flow. We’ve built a 35,000-square-foot operational facility, partnered with leading corporate and tribal casinos, and gained the trust of one of the largest slot manufacturers. Before the year’s end, we’ll have raised an additional $6 million in growth capital to fuel our next phase of expansion.”
But it’s not the first rodeo for Jordan, as he started his career in slots operations.
“I came to Las Vegas from humble beginnings in Albuquerque, New Mexico,” he explains. “I started my journey with hands-on operational roles, including helping to develop, open and operate The Mirage and Bellagio. At Bellagio, I oversaw $130 million in slot operations and marketing, which gave me invaluable insights into casino operations and player behavior.
“I then transitioned into corporate leadership roles in gaming technology companies, where I focused on corporate and product strategy, learning to bridge technology, market strategy and customer needs. For the past 15 years, I’ve been teaching slot management and analysis at the University of Nevada, Reno (UNR), sharing my experiences and engaging with the current and next generation of gaming professionals.
“Founding SlotCycle has been the culmination of my entrepreneurial journey—a venture that leverages a proprietary eCommerce platform to revolutionize how buyers and sellers transact gaming equipment.”
For Jordan, the next year promises to be challenging, but rewarding.
“My current efforts focus on three key areas that reflect the gaming industry’s evolving landscape,” he says. “First, I’m leading SlotCycle’s mission to revolutionize the secondary market, building distribution capabilities that provide clients with transparent pricing and access to a broad supply of gaming equipment leveraging a digital platform. Second, I’m collaborating with Wynn Al Marjan Island developing a world-class gaming experience by advising on the selection of their slot products.
“Finally, I continue working with UNR to expand slot management education, helping the industry access the tools and knowledge necessary to meet modern challenges. Each of these efforts reflects my commitment to contributing to the advancement of the industry in seizing opportunities, and solving problems by applying practical and forward-thinking solutions.”
