RePlay Magazine Podcast - Bill Kraft
Summary
Bill Kraft recounts Schaefer Entertainment's history, from its 1981 move into operating to its employee-ownership transition.
Bill Kraft, retired vice chairman and former president of Schaefer Entertainment, discusses the company's history from its 1929 founding through its move into operating via acquisitions beginning in 1981, its transition to employee ownership, and his career in distribution and sales. The conversation with host Randy Chilton is largely reminiscent, covering personal anecdotes, retirement, and industry relationships.
Highlights
- Schaefer Entertainment was founded in 1929 and Steve Schaefer, third generation, took over the presidency at age 39.
- Schaefer's entry into the operating business began in 1981 with the acquisition of an operator in Columbus, Ohio, followed by two more Columbus acquisitions.
- Schaefer's operating arm was originally called Schaefer Services and is now Schaefer Entertainment, integrated into one company.
- Schaefer's acquired operators largely stayed on and integrated into the company, which Kraft described as rare in the industry.
- Schaefer became employee-owned because the family had no heirs interested in continuing ownership across four generations.
- Many Ohio operators existed in the 1980s but the number is now a handful, with consolidation driven by lack of heirs to family businesses.
- Bill Kraft retired in 2024, having slowed down during COVID and spending increasing time in Florida.
- Video game distribution boom in the early 1980s included product showings from Atari, Bally, and Sega.
In this episode of the RePlay Magazine Podcast, host Randy Chilton sits down with longtime industry leader Bill Kraft of Shaffer Distributing for a fascinating conversation about his more than five decades in coin-op. What’s most telling is that after 50 years in the industry, Bill Kraft's proudest accomplishments aren't the sales he made – it’s the relationships he built. Bill reflects on joining Shaffer Distributing in 1975, his lifelong friendship and business partnership with Steve Shaffer, and the bold decisions that transformed the company, from expansion through acquisitions to its transition to employee ownership. Bill shares stories about the leadership principles behind Shaffer's enduring success. Along the way, he recalls memorable customers, legendary industry personalities (like Nolan Bushnell and Eugene Jarvis), and the technological changes that have continually reshaped the amusement business. Now mostly retired, Bill offers a thoughtful perspective on the industry’s future, the importance of personal relationships, and what matters most after a remarkable career. Enjoy this warm, entertaining conversation with one of the coin-op’s most respected veterans.
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