Electrocoin look to capitalise on steadier market conditions – 2023 Review

  • 22nd December 2023
  • News

2023 Review

John A Stergides is seeing a more upbeat mood around the industry as 2023 runs down the clock. And it seems it can’t come soon enough for Electrocoin who cannot wait to launch a new addition to the ‘Bar X family’ at EAG next month.

And that’s not all – more redemption and low stake, low prize machines are also on the trucks heading to London.

The current year has seen the resurgence of pinball, a welcome trend for the champions of the genre, and anticipation of more supportive regulations which might also improve “certain sectors of the business.

Coinslot: How would you look back on 2023?

John A Stergides: 2023 was very successful and we are finding that the industry is still steady after all the covid/pandemic situation. And it’s gradually reverting back to normal conditions, although there is an upbeat and positive feeling within the industry.

Coinslot: What have been your highlights over the year? Talk us through some of the key developments in your business.

John A Stergides: We have brought out some very popular and successful games like the Rocket Launch, Magic 7 Key, Treasure Alliance, and new pinballs such as James Bond. But also games like Skill Shooter have continued to be very strong.

Another important development is that Pinball is gradually making a comeback after many quiet years within the coin op industry. Another recent highlight we are able to announce is a new production of Konami’s successful Dance Dance Revolution range – DDRA20 Plus which will be available in Q1 2024.

Coinslot: And the challenges – economic, market development and rising costs?

John A Stergides: The main challenge was the high electricity cost and the high interest rates which have been the most concerning, but we took the necessary steps to minimise the effects on us and as always, we adapt ourselves to the new conditions as this is it not the first time we’ve had to go through such a tough economic scenario since 1976.

Coinslot: What objectives have you set the company for 2024?

John A Stergides: Our objective is to carry on as per our slogan ‘Expanding the World of Play’, and our RDD Developments will see us bring new redemption games, video games, and low stake, low prizes machines. As well as new games, we will look to enhance current games, but also introducing a new BAR X game into the Bar-X family. This will be revealed at EAG.

Coinslot How confident are you about the next twelve months: do you have high hopes for new regulation, an improving economy and growth in your business sector?

John A Stergides: We are looking forward towards the next 12 months, and if the new regulations do come next year, it will improve certain sectors of the business. But at least we are talking with the authorities and regulators to improve the relationship between old parties to have a thriving industry with new ideas and new games and to continue providing enjoyment and entertainment to the players. As without players, there isn’t an industry.

Coinslot – December 22nd – January 4th 2024 – Issue 2868/9 – Page 37