Grover Gaming buys assets from 2 distributors
By Ryan Haar TBJ News Intern, Triangle Business Journal
Greenville-based gaming company, Grover Gaming, has acquired the assets of two of its distributors in Virginia: V-Tabs LLC and Newmarket Entertainment LLC. Financial terms of the acquisition were not disclosed.
Grover Gaming was founded in 2013 by owner Garrett Blackwelder. The company makes electronic, charitable gaming software and games that are popular in states with legalized charitable gaming.
"We've been supplying electronic pull tabs to those states for years and we decided to go direct to the market," says Kevin Morse, senior market development specialist at Grover Gaming.
Electronic pull-tabs derived from the original paper pull tabs.
"If you saw it sitting in a corner of a room you'd think it was a slot machine, but they work differently than slot machines," says Morse. "At the end of the day the players play the game so they can win money. And whatever's left over after playing the game, some goes to the club and some goes to us."
The majority of the clubs Morse refers to are fraternal and charitable organizations, such as Moose Lodges, American Legion, Veterans of Foreign Wars and the Fraternal Order of the Eagles.
"They all have social quarters and it's basically what you'd call a bar or restaurant and they're wildly popular," says Morse.
As more and more states loosen regulations for electronic pull tabs, Morse says North Carolina's anti-gambling law is exceedingly hurting organizations like these.
Meanwhile, Grover Gaming is focusing on states that are loosening restrictions. North Dakota recently introduced electronic pull tabs with regulations becoming effective July 1. Grover Gaming hopes to be in operation in North Dakota by late summer. The company is also acquiring its New Hampshire Distributor, Eagle Strike Entertainment, LLC, with the deal closing by the end of the week.
As the company expands to other states, its North Carolina base is also growing. Grover Gaming has grown from 30 to 104 employees since 2013 with plans to get to 200 within the next year and a half. The firm is looking into expanding its facilities in the near future.
