United Gaming

History and Founding

United Gaming was founded in 2009 by Bunty Doshi, who began by placing a handful of Coin Operated Amusement Machines (COAMs) in Georgia locations. Doshi saw an opportunity in a fragmented market and pursued an aggressive acquisition strategy, completing more than 20 acquisitions of legacy COAM operators. The company has raised over $700 million in private credit capital, including an upsized senior secured credit facility from $250 million to $650 million in December 2021, reflecting strong lender confidence in its growth trajectory.

Business Model

United Gaming’s core business is placing its COAM terminals in third‑party locations—bars, restaurants, convenience stores, and truck stops—and sharing a percentage of net revenue with the location owner. The machines feature an industry‑leading library of games, including video poker, slot‑style reels, and skill‑based games, all designed to attract and retain players. The company’s revenue model relies on high machine utilization and player engagement, optimized through its proprietary data analytics platform.

Technology and Data

A key differentiator is United Gaming’s data‑driven approach. Its proprietary analytics platform monitors machine performance, player behavior, and location profitability in real time, enabling dynamic game rotation, targeted promotions, and optimal machine placement. This maximizes returns for both United Gaming and its location partners. The company also provides comprehensive compliance support, helping location owners meet Georgia’s stringent licensing and reporting requirements for COAMs.

Market Position and Regulatory Environment

United Gaming dominates the Georgia COAM market, having consolidated a previously fragmented industry. COAMs operate in a legal grey area: classified as amusement devices, they often feature cash payouts and skill elements, distinguishing them from traditional slot machines. This has fueled rapid growth but also attracts ongoing legal and regulatory scrutiny from advocacy groups seeking to reclassify them as unlicensed gambling machines. United Gaming navigates these challenges through robust compliance infrastructure and active engagement with state legislators, emphasizing its support for Georgia’s HOPE Scholarship and Pre‑K programs.

Recent Developments and Scale

As of 2025, United Gaming continues to expand through acquisitions and organic growth. The company’s credit facility size suggests a significant enterprise scale, though specific revenue and headcount figures remain private. The company maintains a strong public affairs presence, highlighting its contributions to education funding through the Georgia Lottery Corporation. Despite its private status, United Gaming is a major player in the distributed gaming sector, with a growing team focused on operations, technology, and 24/7 customer support for both players and location hosts.