Renova Technology’s launch into the gaming industry came about, fittingly enough, after testing and troubleshooting slot machine circuit boards for a large manufacturer.
Louis Pine, Chief Marketing Officer, Renova Technology
Louis Pine, chief marketing officer for the Georgia-based repair, reverse logistics and supply chain services company, said Renova already was servicing surveillance, lottery, public safety and kiosk manufacturers in support of the casino market, but the company had no ties to slot manufacturers whose products make up the lion’s share of a gaming floor.
“Our equipment was already on the casino floor,” Pine said. “So why weren’t we working with the gaming manufacturers directly?”
So he started market research and back-and-forth trips to Las Vegas, explaining how Renova’s methods would not only repair what was wrong but also reduce future problems.
“The bet was finding a gaming manufacturer willing to take a chance,” he said. “What was missing was transparency, lead time and data. We had already been doing this.”
Instead of pitching against the incumbent, he asked different questions: “What would an ideal repair program look like? How could Renova work alongside your team?”
“That second question was the one nobody was asking,” he said. That conversation became a partnership with a major land-based manufacturer that continues today.
“I finally got (one) to send a couple of samples. Of course, they didn’t tell us what was wrong, and they sent us the worst of the worst,” he recalled. Renova technicians found and repaired the problems, won a contract, and about five years later has become the manufacturer’s biggest repair support provider in North America.
Pine said the key to Renova’s growth goes beyond the skill to make complex repairs. “It’s the data collection we provide back to our customers that’s so important,” he explained. “Collecting the data behind the failures tells engineering what changes to make for the next product iteration.” Even with a small percentage of failures, pinpointing the source of a problem reduces long-term costs for manufacturers and operators, he added.
Renova was founded 30 years ago by Jonathan Pine, who still is chairman and president. It operates a 40,000-square-foot facility in Atlanta with 60 employees servicing 20,000 units a month for 150 clients involved in public safety, FinTech, kiosk, broadcasting, surveillance, gaming, and lottery.
Louis Pine, a son of the founder, joined the company in 2019 after a decade in enterprise software working with startups, bringing that pace and energy to an established company — an outsider’s look at a business his father had spent decades building.
As a youngster he had worked in Renova’s warehouse, and spent college summers back home with the accounting team, he said, but his experience with startups helped develop “an eye for new markets.”
He said the company began compiling individual repair data several years ago at the request of NCR, one of its clients. Many competing repair services were reluctant to do that, for fear of losing future business. However, Renova provided NCR with details on what failures its products were experiencing, including specific components or vulnerability to electrostatic discharge.
“That strengthened the relationship,” he said. “They could solve that for the next product iteration, or new product introduction (NPI), or they could see different regions where field service teams might be installing the device improperly, or a challenging contract manufacturing run.”
“We found that it was the same in the gaming market,” Pine added. “That was really a slam dunk for our processes and capabilities.”
Pine said about 8 to 10 percent of Renova’s workload is directly tied to the gaming industry, and he’s working to increase that. He attended ICE Barcelona and will be at the Global Gaming Expo in Las Vegas, which starts Sept. 28.
Renova works on equipment at the tail end of its technology as well as newly released gear. The company says its client list spans the gaming industry and beyond — makers of self-service kiosks, lighting and signage, license plate readers, and point-of-sale equipment — and includes Bally’s Intralot, Bally’s, Nanolumens, Flock Safety and Wahoo Fitness. Pine acknowledged the company is something of an “invisible supplier” because it works behind the scenes. However, he expects that to change.
He said Renova has doubled in size in recent years and spent almost $1 million on facility, systems, and technology improvements over the last 24 months.
“We’re in this gaming market. We’ve grown quite a bit. We’re looking to develop new relationships and new partners,” Pine said. “You’re going to be hearing about us.”
