Lieberman Companies

What Lieberman Companies does

Lieberman Companies is a fourth-generation, family-owned holding company headquartered in Bloomington, Minnesota, operating continuously since 1907. The company runs two principal business lines: ATM distribution and processing services, and amusement entertainment and rentals. Its ATM division operates as a certified Independent Sales Organization (ISO) processor, distributing hardware from Genmega, Nautilus Hyosung, Hantle, and Triton to a nationwide merchant base, while offering free ATM placement, processing and transaction-fee services, and cashless system integrations. The entertainment arm includes American Amusement Arcades (AAA), described as the largest amusement route in the Minneapolis-St. Paul metro with 200+ locations, and Playland Arcade, a six-location retail chain that includes a presence at the Minnesota State Fair.

The company's revenue mechanics span ATM hardware resale, recurring transaction-based processing fees, free-placement managed-service residuals, amusement route revenue share with venue partners, retail arcade receipts (including Minnesota State Fair), game rentals, and subscription revenue from pool and dart leagues. Distribution is multi-channel: direct merchant sales for ATMs and a physical route operation staffed by long-tenured field-service personnel for amusement equipment. The business is member-driven across multiple trade associations (AMOA, AAMA, ATMIA, MOMA, MSPDA, NDA, PPD) and BBB-accredited, with 75% of employees having 15+ years of tenure.

Strategic positioning is anchored by selective M&A through the Lieberman Investments vehicle (including the November 2022 D&R Star Amusement acquisition), a San Antonio office extending geographic reach beyond the Minnesota core, and product-line extensions into cashless systems and prize-redemption formats. The operating model combines capital-intensive managed services (free ATM placement) with route-based recurring service revenue, creating switching costs once installed at a venue.

Name

Lieberman Companies

Legal name

Lieberman Companies

Website

https://liebermancompanies.com

Company type

Private

Founded year

1907

Operating status

Operating

Headcount range

11–50 employees

Short description

Lieberman Companies is a fourth-generation, family-owned Minnesota firm operating since 1907 in ATM distribution and ISO processing, and in amusement entertainment, serving nationwide ATM merchants and operating a 200+ location amusement route in Minneapolis-St. Paul.

Ownership category

akta.pro rank

Product category

ATM Distribution and Amusement Entertainment Services

NAICS

Amusement Arcades (71312), Amusement Parks and Arcades (7131)

SIC

Services-Amusement & Recreation Services (7900), Retail-Hobby, Toy & Game Shops (5945)

akta.pro primary industry

ATM Deployers & Managed ATM Services (IAD/ISO) (FSAMAOAC)

akta.pro secondary industries

Amusement/Redemption Arcade Machines (Ticket & Prize) (MPAEAJAD), Coin-Operated Entertainment (Pinball, Crane/Claw, Jukebox, Darts/Billiards) (MPAEAJAF), ATM / Cash Access Network Schemes (FSAMAAAH)

Keywords

• ATM distribution services
• ATM processing services
• Amusement route operations
• Arcade game rentals
• Pool and dart leagues

Headquarters

HQ city

Bloomington

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. ATM Equipment Sales: Sale of new and used ATM machines from manufacturers including Genmega, Nautilus Hyosung, Hantle, and Triton brands. Provides complete ATM solutions including equipment selection, paperwork navigation, and installation coordination.
2. ATM Processing Services: Certified ISO processor services providing transaction processing for ATMs. Direct relationships with processing companies ensure secure transactions and competitive rates with no hidden fees.
3. Free ATM Placement Program: Free ATM placement at qualified business locations where Lieberman owns and operates the ATM, handles cash loading and repairs, generating revenue through transaction fees.
4. Amusement Game Placement & Route Operations: AAA Route operates the largest amusement, jukebox, arcade and ATM route in the Minneapolis/St. Paul metro area. Places and services arcade games at bars, restaurants, bowling centers, hotels, event venues, and entertainment centers on a revenue-sharing basis.
5. Game Rentals: Short-term rental of arcade games and amusement equipment for special events including weddings, corporate events, trade shows, and parties.
6. Pool & Dart League Operations: Organizes and sanctions pool and dart leagues at bars and restaurants in the Minneapolis/St. Paul area, with multiple skill levels and tournament opportunities.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

Lieberman Companies distributes and processes ATMs nationwide through its certified ISO processor status while operating amusement equipment routes, arcade venues, and event game rentals in the Minneapolis/St. Paul metro. The ATM business sells machines from Genmega, Nautilus Hyosung, Hantle, and Triton, places ATMs free at qualified locations, and processes transactions with no hidden fees. The amusement business places jukeboxes, dartboards, pool tables, prize cranes, and arcade games at 200+ hospitality and entertainment venues, runs cashless arcade payment systems, operates Playland Arcade locations, the Hi-Test Arcade at Valleyfair, and sanctions pool and dart leagues.

Product overview

Lieberman Companies operates as a diversified entertainment and financial services company with two primary business lines: ATM distribution/processing services and amusement entertainment/rentals. The ATM division offers sales, placement, and certified ISO processing services for Genmega, Nautilus Hyosung, Hantle, and Triton ATM machines nationwide. The amusement division, operating under the American Amusement Arcades (AAA) brand, provides game route operations, arcade management (including Playland Arcade chain), game rentals for events, and operates pool/dart leagues. The company also acquired D&R Star Amusement in 2022 and offers cashless arcade payment systems through integrations with Intercard, Amusement Connect, and Embed platforms.

Differentiator

Problem solved

Functional benefit

Brands

• American Amusement Arcades (AAA): Amusement arcade operations subsidiary of Lieberman Companies, operating the largest amusement, jukebox, arcade and ATM route in the Minneapolis/St. Paul metro area. Also operates pool and dart leagues and hosts dart tournaments.
• D&R Star
• Elsie’s Place
• Lieberman Investments

Products and services

• ATM Sales & Placement Distribution of new and used ATM machines from manufacturers including Genmega, Nautilus Hyosung, Hantle, and Triton, plus a free ATM placement program for qualified locations nationwide in which Lieberman installs, fills with cash, and handles all repairs.
• ATM Processing Services Certified ISO processor services for ATM transactions, with direct relationships with top processing companies ensuring secure transactions, competitive rates, and no hidden fees. Includes cash vaulting services.
• AAA Amusement Route American Amusement Arcades (AAA), a wholly-owned subsidiary, operates the largest amusement, jukebox, arcade, and ATM route in the Minneapolis/St. Paul metro area, placing and servicing jukeboxes, dartboards, pool tables, prize cranes, and arcade games at bars, restaurants, bowling centers, theatres, hotels, and entertainment venues on a revenue-sharing basis.
• Game Rentals Short-term rental of arcade games and amusement equipment for events including weddings, corporate events, trade shows, and parties. Includes Pop-A-Shot Basketball, prize crane games, retro arcade games, Golden Tee, air hockey, Skee-Ball, driving arcade games, pool tables, Arachnid Galaxy Darts, Big Buck Hunter, Whac-A-Mole, Pac-Man and Ms. Pac-Man, pinball, foosball, ping pong, and yard games.
• Playland Arcade Retail Locations Chain of six retail mall and seasonal arcade locations including Eden Prairie Center, Northtown Mall in Blaine, Burnsville Center, Rosedale Center (two locations), and a seasonal Minnesota State Fair location since the 1950s. Features claw cranes, video games, and prize merchandisers.
• Pool & Dart Leagues AAA hosts fun, competitive pool and dart leagues at bars and restaurants in the Minneapolis/St. Paul area with multiple skill levels and tournament opportunities. Sanctioned through MOMA, MSPDA, NDA, and PPD.
• Hi-Test Arcade at Valleyfair Arcade operated by Lieberman/AAA at Valleyfair amusement park in Shakopee, MN since the early 1990s. Features virtual reality games, Skee-Ball, prize cranes, coin pushers, driving games, and a prize redemption counter.
• Cashless Arcade Systems Card-based payment systems integrating Intercard, Amusement Connect, and Embed kiosks that allow players to purchase and reload game cards and tap to play at games throughout client arcades, with ticket redemption for prizes via Prize Hub and Prize-O-Matic counters.
• Genmega GT3000 ATM Through-the-wall ATM machine distributed by Lieberman Companies. Features 7-inch 32-bit color screen, up to 2000 note cassette, UL291 lock, EMV MCR, 2-inch printer, and PCI Certified 5.0 encrypted pinpad.
• Genmega ONYX ATM Modern upscale ATM with 10.1-inch wide TFT LCD color screen (1280 x 800 resolution), optional 12.1-inch touch screen, UL291 vault, presenter, multiple cassette options, and EMV/PCI-EEP/ADA compliance.
• Genmega Onyx-W ATM Wall mount or countertop mount ATM with 10.1-inch TFT LCD panel (1200 x 800 resolution), light-up touch function keys, 2-inch receipt printer, and 1000-note removable cassette.
• Genmega G2500 ATM Customizable ATM with 8-inch high-resolution wide-screen LCD (upgradeable to 10.2-inch touch screen), optional 3-inch graphics-capable receipt printer, and flexible dispenser options supporting third-party equipment.
• D&R Star Amusement Arcade Operations Subsidiary of Lieberman Companies specializing in arcade game placement, cashless kiosk systems, and arcade operations in Rochester and southeastern Minnesota, including the Apache Mall arcade.

Named customers10 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature4 records

Partnerships

Nine partnerships are on record, tiered major and core.

• D&R Star AmusementmajorStrategic or Co-development PartnerLieberman Companies acquired D&R Star Amusement on November 30, 2022, combining two Minnesota companies with a multi-generational relationship. D&R Star continues to operate independently serving Rochester and southeastern Minnesota markets with arcade games, cashless systems, and amusement equipment.
• GenmegacoreTechnology or IntegrationGenmega is a manufacturer of ATM machines distributed by Lieberman Companies. Products include GT3000 (through-the-wall), ONYX (upscale floor model), Onyx-W (wall/countertop), and G2500 (customizable configuration) ATMs.
• Nautilus HyosungcoreTechnology or IntegrationNautilus Hyosung is a manufacturer of ATM machines distributed by Lieberman Companies. Products include HALO II, THE FORCE, HYOSUNG 2800T, and MX5200SE ATM models.
• TritoncoreTechnology or IntegrationTriton is a manufacturer of ATM machines distributed by Lieberman Companies. Products include ARGO and ARGO FT ATM models.
• HantlecoreTechnology or IntegrationHantle is a manufacturer of ATM machines distributed by Lieberman Companies. Products include 1700W and t4000 ATM models.
• IntercardcoreTechnology or IntegrationIntercard provides cashless payment systems for arcade games. Lieberman Companies installs Intercard kiosks and systems at client arcade locations, enabling players to purchase and reload game cards.
• Amusement ConnectcoreTechnology or IntegrationAmusement Connect provides cashless kiosk systems for arcade locations. Lieberman Companies installs and services Amusement Connect systems at client venues.
• ValleyfairmajorStrategic or Co-development PartnerLieberman Companies/American Amusement Arcades has operated the Hi-Test Arcade at Valleyfair Amusement Park since the early 1990s. The park is the largest family amusement park in the Upper Midwest, located in Shakopee, Minnesota.
• Emagine EntertainmentmajorStrategic or Co-development PartnerEmagine Entertainment operates nine luxury movie theatres in Minnesota. Lieberman Companies/AAA operates and services arcade games at Emagine theatre locations, including the first Pixel Games floor in Minnesota at Rogers.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Cardtronics (NCR Atleos): Largest non-bank ATM deployer and processor in the U.S.; broad incumbent with portfolio overlap in ATM placement and ISO processing services.

Direct peers

• Shaffer Distributing: Regional amusement route operator providing coin-operated entertainment (jukeboxes, pool, darts, ATM) to bars and restaurants — directly comparable to AAA's core route offering.
• Brady Distributing: Amusement equipment distributor and route operator serving the upper Midwest with jukebox, pool, darts, and ATM services — geographic and product overlap with Lieberman.
• Betson Enterprises: Major U.S. distributor of amusement, arcade, and gaming equipment with route operations and FEC supplies — directly comparable to Lieberman's AAA and ATM distribution business.
• Apple Industries: Manufacturer and supplier of prize cranes, merchandisers, and family entertainment equipment — comparable product overlap with Lieberman's prize-crane-heavy arcade mix.
• Coast to Coast Entertainment: Amusement route operator placing arcade games, jukeboxes, and ATM equipment at bars and restaurants — highly comparable to AAA's route model.
• ATM Express: ATM sales, placement, and processing company serving convenience stores, bars, and hospitality — direct competitor in Lieberman's primary ATM vertical.
• National ATM Services: ATM sales, placement, and processing provider competing directly with Lieberman's ATM division across the U.S. SMB market.

Regional players

• Mountain Coin Machine Distributors: Amusement equipment distributor and route operator serving the Mountain West — same business model as Lieberman/AAA but in a different U.S. region.

Others

• Intercard: Cashless payment system provider for the arcade/FEC industry; Lieberman is both customer and reseller/integrator, making Intercard an adjacent ecosystem participant rather than a direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

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Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lieberman Companies