Everi Holdings Boosts its Portfolio Through Deal Worth $25m

Everi Holdings, using its fully owned subsidiary, Everi Payments, has signed a deal worth up to $25 million with Micro Gaming Technologies.

The deal sees the company acquiring certain strategic assets of Micro Gaming, which is a privately-owned provider of self-service casino loyalty and marketing solutions, promotional tools, and applications.

According to Everi, the newly acquired products from its latest partner, including software and technologies for casino operators, are an attractive, complementary addition to its portfolio of FinTech products and services. The acquisition of these solutions also includes a portfolio of customer locations where its partner’s solutions are currently installed, including properties of many key Everi customers.

of the Deal

According to the of transaction, Everi acquired assets of Micro Gaming Technologies for an initial payment of $15 million, at the time of closing. On April 1, 2020, an additional $5 million will be transferred and another $5 million will be transferred on December 24, 2021.

Darren Simmons, Executive Vice President and FinTech Business Leader, said: “The acquisition of the MGT assets will further strengthen our ability to provide our customers with a one-stop shop of comprehensive, integrated solutions that enable a seamless, convenient experience for casino patrons while delivering operational efficiencies for casino operators. By combining our existing Everi player loyalty and marketing solutions with these assets from MGT, we will be better positioned to offer our customers the industry’s most extensive suite of loyalty and marketing technology. We have already begun the process of developing a roap for integrating the best functionality of MGT’s platform with the best of our existing loyalty and FinTech suite of products and services with an eye towards further strengthening our overall solution set.”

About Everi

The company employs a diverse collection of talented professionals who are committed to providing services and experiences on the casino floor. It was formed thanks to the merger of Global Cash Access and Multimedia Games and launched in 2015. Its goal is to expand its innovative and creative reach, built on respect and transparency.

Source:

“Everi Payments acquires strategic assets of Micro Gaming Technologies”, Chris Murphy, sbcamericas.com, December 31, 2019.