Greyhound Electronics

Greyhound Electronics

Company type	Public
Industry	Amusement games
Founded	August 1982 (1982-08)
Founder	Edmund Florimont Robert A. Holland Carmen J. Ricci
Headquarters	Toms River, New Jersey , United States

Greyhound Electronics, Inc. (abbreviated as GEI, occasionally spelled Grayhound Electronics) was a U.S.-based producer of both classic and electronic amusement devices located in Toms River, New Jersey. The company saw significant success throughout the 1980s and 1990s by manufacturing arcade machines, skill crane games, background music systems, and various other entertainment products. However, its involvement in unauthorized distribution of altered video poker machines—machines that illicitly dispensed vouchers—resulted in the 1990 arrest of its co-owners on charges related to racketeering and illegal gambling.

Origins and product development

Established in August 1982 by Edmund Florimont (circa 1934–2019), Robert A. Holland (circa 1935–2011), and Carmen J. Ricci (circa 1939–2012), Greyhound Electronics built upon Florimont’s familial history in the amusement industry dating back to 1946. Florimont brought extensive experience managing a network of 200 arcades and designing shooting gallery attractions for companies like Disney and Bally. Holland contributed his engineering background from S&S Amusements and True-Data, a firm specializing in computer design. The founders’ shared dissatisfaction with the arcade games available in the early 1980s inspired them to create a prototype arcade game, which they presented at the 1982 International Amusement Expo. A key innovation by Holland was a proprietary "satellite board" technology that enabled users to interchange ROM chips easily—a feature that became fundamental to their business approach.

Operating out of a converted concrete facility in Toms River, the company appointed Florimont as president, Ricci as sales manager, and Holland as engineering lead. Their initial offerings included mechanical scrolling signs, followed by the launch of an electronically programmable system named Greyhound-Vision in 1983. At this stage, the workforce numbered approximately 40 employees. After Florimont left in the mid-1980s, Ricci assumed the presidency and brought on his son-in-law Brian Petaccio as vice president. Under Ricci’s direction, Greyhound broadened its reach nationwide with a product range encompassing coin-operated electro-mechanical games, video arcade titles, skill crane machines stocked with plush prizes, and background music players. Their coin-operated devices were distributed both fully assembled and as kits for self-assembly.

In 1984, Greyhound introduced a video poker machine available in several cabinet designs. Marketed exclusively for entertainment purposes without monetary rewards, this product incorporated the innovative satellite board system allowing software updates through interchangeable ROM chips. The initial release featured four poker game variants developed in 1982, which eventually expanded to eight different titles.

In 1988, Greyhound secured sponsorship from Coors Light for a mini-basketball game installed at a pizza restaurant in King of Prussia. Their Greyhound Basketball game earned an AMOA Games Award during the 1990 Amusement Expo.

Although Greyhound went public soon after its inception, it primarily traded as a low-priced stock due to financial difficulties stemming from its largest client’s failure to meet obligations. In 1989, stock prices soared after announcements about licensing No Fire, a ceramic-based flame retardant coating aimed at industrial applications both domestically and abroad. Share prices peaked at $17.50 before declining amid a federal investigation into trading activities. Around this time, Petaccio resigned from his vice presidential role. No Fire was later disclosed to be a derivative product; investor interest briefly revived toward the end of 1990 before shares fell once more. Ultimately, Greyhound transferred ownership of these rights to PNF Industries located in Upper Saddle River, New Jersey.

Scarfo family involvement

Greyhound gained notoriety as a grey-market distributor of its video poker devices, with Ricci collaborating with members of Philadelphia's Scarfo crime family during the 1980s to facilitate the distribution of the company's products. Beginning in 1985, Greyhound distributed unauthorized video poker machines to a wide array of bars and eateries in New Jersey, Pennsylvania, New York, and California. In contrast to Greyhound’s legitimate "amusement only" units, Ricci altered these machines to dispense cash vouchers, charging fees to bar proprietors and funneling half of his earnings every two weeks to Nicky Scarfo Jr. The Scarfo organization shielded Greyhound from rival operators in the Northeast and assisted Ricci in securing additional venues for his devices. These machines could be remotely toggled to a lawful amusement mode when law enforcement officials appeared.

Ricci’s weekly payments to the Scarfo faction fluctuated between $3,000 and $4,000. He arranged protection for roughly 25 locations in the Northeast through the Scarfo family, although informants suggested the actual number was more than four times higher. In early 1989, disagreements over Ricci’s payments prompted a meeting involving Scarfo Jr. and other mob affiliates; however, their relationship was subsequently restored. Ricci later requested Scarfo associates to invest in Greyhound stock; several individuals including Scarfo Jr. and members of the Genovese crime family became investors. Following the launch of No Fire, Greyhound’s stock experienced a significant surge.

In California, Greyhound’s machines were unlawfully sold in Westminster and Garden Grove. Ricci managed direct sales within Westminster’s Little Saigon area, whereas a Las Vegas-based criminal group resold machines in Garden Grove. Police raids conducted in March 1990 on residences and businesses across Orange County and Los Angeles resulted in the seizure of 79 illegal poker machines containing circuitry produced by Greyhound. Three members of the Las Vegas ring were apprehended. Authorities believed this group ordered Deluxe 8 slot machine kits from Greyhound and had cabinets assembled at a San Clemente woodworking shop. Police noted that these raids effectively stopped the group’s expansion efforts into San Jose. Investigators uncovered an unpaid invoice from January 1989 amounting to $64,750 from Greyhound during their inquiry, implying that Greyhound was either aware or assured payment by these buyers. Ricci was subsequently directly connected to this Las Vegas operation.

During the 1980s, Greyhound also engaged in grey-market activities by supplying video slot machines to Native American reservations at a time when such gaming was federally prohibited outside Nevada and Atlantic City except for bingo halls. Manufacturers who supplied these reservations risked losing their licenses for Nevada and Atlantic City markets. Despite these restrictions, slot machines remained popular on reservations. In 1987, Ricci sold voucher-enabled video poker machines to the White Earth Nation’s bingo facility in Minnesota through Victor Collucci of GTECH Corporation—a Rhode Island-based electronic lottery supplier competing for Minnesota State Lottery contracts.

Detainment of co-owners

After Fresolone provided testimony to New Jersey's Organized Crime Task Force, authorities arrested 41 individuals linked to the Bruno, Scarfo, and DeCavalcante crime families on August 22, 1990, charging them with racketeering offenses. Among those detained were Greyhound executives Carmen Ricci, Petaccio, and Alan Cifelli, as well as Scarfo Jr. Ricci, Petaccio, and Cifelli faced further accusations including promoting gambling and conspiracy. All three were released on bail awaiting sentencing scheduled for 1991. In November 1990, Ricci stepped down as Greyhound chairman but retained his shares; his brother Thomas Ricci took over as chairman.

In March 1991, a New Jersey grand jury indicted Ricci, Petaccio, and Cifelli and sought forfeiture of their Greyhound holdings. They entered guilty pleas in November 1991, agreeing to sever all connections with Greyhound and divest their stock ownership. The state dropped efforts to liquidate Greyhound Electronics’ assets, permitting the company to continue operating under a $500,000 settlement paid over five years under state oversight.

Ricci was sentenced to three years probation along with a $500,000 fine; Petaccio and Cifelli received 18 months probation for promoting gambling after racketeering charges were dismissed. Despite these legal challenges, Greyhound reported $4.4 million in revenue and $1.2 million gross profit during the first half of 1991. The New Jersey Casino Control Commission barred Greyhound from marketing amusement-only machines to Atlantic City casinos but later allowed withdrawal of their applications so partnerships could be maintained. Unauthorized Greyhound video poker machines continued circulating; fifteen were traced to Wisconsin bars in 1992.

By 2005, official records indicated that Greyhound was inactive in New Jersey. Carmen Ricci passed away in 2012; his brother Thomas had died earlier.

External links

• Greyhound Electronics on the Internet Movie Database