Baker Tilly Capital facilitates sale of Progressive Video Lottery.
Baker Tilly Capital assists Progressive Video Lottery, Ltd. and Wassick Novelty Co., LLC in a successful sale.
Client need
Progressive Video Lottery, Ltd. is an operator of over 200 video lottery terminals (VLT) under the rules of the West Virginia Lottery Commission. Wassick Novelty Co., LLC is an operator of automated teller machines (ATM), digital jukebox machines, pool tables, and pinball machines. Both companies’ operations are focused in north central West Virginia.
After more than 35 years of operating Progressive Video Lottery, Ltd. and Wassick Novelty Co., LLC, the owner sought a succession plan for his businesses as he prepared for retirement. Baker Tilly Capital was engaged after being referred to the opportunity by Baker Tilly Advisory Group, LP.
Progressive Video Lottery, Ltd. operates in a niche, highly regulated industry, and Baker Tilly Capital identified buyers that were capable of completing a transaction for both entities. Baker Tilly Capital successfully advised the owner through each step of the sale process.
