Connect with us
Prague Gaming & TECH Summit 2024

Industry News

EVERI Announces Successful Completion of the Previously Announced Partial Redemption of its 7.50% Senior Unsecured Notes due 2025

Published

on

 

Series of financial transactions lowers annual interest expense by $9.6 million

Everi Holdings Inc., a premier provider of gaming products, financial technology and player loyalty solutions in the gaming industry, announced that it successfully completed the previously announced redemption of $84.5 million of the Company’s 7.50% Senior Unsecured Notes due 2025, along with payment of accrued and unpaid interest thereon plus any related premiums, fees and costs, using a portion of the net proceeds from the previously disclosed common stock offering completed on December 10, 2019.

As a result of this redemption, along with the pay down of $30.5 million of the Company’s Senior Secured Term Loan on December 10, 2019 and the successful repricing of the Senior Secured Term Loan under its Credit Agreement dated as of May 9, 2017 (as amended), which reduced the Applicable Rate for interest by 25 basis points, Everi has lowered its cash interest expense by $9.6 million, on an annualized basis at current rates. These financial transactions were enabled by the successful completion on December 10, 2019 of a registered follow-on common stock offering that generated net proceeds of approximately $123.0 million after underwriting discounts but before estimated offering expenses payable by the Company.

Forward-Looking Statements
The forward-looking statements in this press release are subject to a variety of risks and uncertainties, including those set forth under the heading “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our periodic reports filed with the Securities and Exchange Commission (the “SEC”), including, without limitation, our Annual Report on Form 10-K for the year ended December 31, 2018, and are based on information available to us on the date hereof.

Advertisement

These cautionary statements qualify our forward-looking statements and you are cautioned not to place undue reliance on these forward-looking statements. Any forward-looking statements, including the use of proceeds from the Offering, contained herein speaks only as of the date, today January 6, 2020, on which it is made, and we do not intend, and assume no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

About Everi
Everi is a leading supplier of imaginative entertainment and trusted technology solutions for the casino, interactive, and gaming industry. With a focus on both customers and players, the Company develops entertaining games and gaming machines, gaming systems and services, and is the preeminent and most comprehensive provider of core financial products and services, player loyalty tools and applications, and intelligence and regulatory compliance solutions. Everi’s mission is to provide casino operators with games that facilitate memorable player experiences, offer seamless and secure financial transactions for casinos and their patrons, and deliver software tools and applications to improve casino operations efficiencies and fulfill regulatory compliance requirements. Everi provides these products and services in its effort to help make customers successful. For more information, please visit www.everi.com, which is updated regularly with financial and other information about the Company.

Contacts

Investor Relations
Everi Holdings Inc.
William Pfund
VP, Investor Relations
702-676-9513 or [email protected]

JCIR
Richard Land, James Leahy
212-835-8500 or [email protected]

Advertisement
Continue Reading
Advertisement

Commonwealth Court of Pennsylvania

Pace-O-Matic Congratulates Casino Industry on Record Profits

Published

on

pace-o-matic-congratulates-casino-industry-on-record-profits

 

Pace-O-Matic, the leading name in skill game entertainment, is tipping its hat to the fat cats of the gambling world for yet another record-breaking year. The United States casino industry recently reported a record $66.5 billion in winnings for 2023.

That includes Pennsylvania, the second largest casino market in the country behind Nevada. While casino reps curiously blame skill games for ‘losses’, in 2023 Pennsylvania casinos brought in a record $5.7 billion in revenue from gambling. That equates to a 9.3% increase year over year.

“On behalf of the local small businesses, restaurants, bars and fraternal organizations that the casino industry is determined to put out of business, we extend the warmest congratulations to big casinos for their $66.5 billion in winnings,” the Chief Public Affairs Officer for Pace-O-Matic, Michael Barley, said. “It’s not every day you see such record profits. Now our only question is, where are these losses the industry and, specifically casinos in Pennsylvania, are claiming to be connected to skill games?”

The Pennsylvania casino industry also saw a 28% increase in iGaming year over year as well as a 4.08% increase in slot machine revenue last month across the Commonwealth over last year.

Advertisement

Regardless of what big casinos say, Pace-O-Matic remains committed to its mission of providing engaging skill-based entertainment to players while supporting the heart and soul of America; local small businesses. Skill games bring supplemental, sustainable income to bars, restaurants, VFW halls, American Legion posts and other small businesses across Pennsylvania. These businesses use income from skill games to pay bills, make charitable donations, provide health benefits, pay competitive wages and more.

“The casino industry continues to attack skill games for loss of revenue yet these losses don’t seem to appear in any of their reporting,” Barley said. “While they spin misleading information, we will stick to the facts. The fact is, that skill games are a legal source of income that Pennsylvania’s small businesses rely on every day to make ends meet.”

On the heels of a unanimous Commonwealth Court of Pennsylvania ruling that found skill games to be legal and Governor Josh Shapiro including skill game revenue in his 2024/25 budget, it’s clear that support for regulating skill games is growing among lawmakers and the public. Pennsylvania State Senator Gene Yaw has proposed legislation, Senate Bill 706, that would tax and regulate skill games, establishing a framework for the legal games to continue to operate.

Pace-O-Matic is a leading developer of legally compliant games of skill in the United States. Its games are played in thousands of small restaurants and bars along with many social halls such as American Legion and Veterans of Foreign War (VFW) posts. Pace-O-Matic games generated millions of dollars in revenue for businesses and clubs in Pennsylvania last year.

Advertisement
Continue Reading

Industry News

DAZN Appoints Brice Daumin as CEO of French and Swiss Operations

Published

on

dazn-appoints-brice-daumin-as-ceo-of-french-and-swiss-operations
Reading Time: 2 minutes

 

DAZN Group, the world’s leading sports streaming service, announced the appointment of Brice Daumin as CEO of its French and Swiss operations. Daumin will oversee DAZN’s growth strategy in France, using his experience and knowledge of the French market garnered over 25 plus years in the French media and telecoms industries.

The move further underlines DAZN’s commitment to France after its launch in August 2023. DAZN brings its French subscribers the best of combat sports including a weekly schedule of top-quality boxing, MMA with the Professional Fighters League and PFL Europe featuring world-class fighters such as Francis Ngannou and Cédric Doumbé, huge PPV boxing line-ups featuring Tyson Fury and Anthony Joshua, such as “Day of Reckoning”. DAZN also brings its customers top-tier football including Ligue 1 Uber Eats, and the UEFA Women’s Champions League.

DAZN has also delivered a distribution strategy, striking deals with prominent telco and cable operators, to ensure as many French sports fans can access DAZN’s compelling catalogue of premium live sports content, magazine programming, archive and other sports entertainment products. Daumin will report directly to Alice Mascia, whose group responsibilities include her roles as Group Chief Marketing Officer and CEO of DACH.

Advertisement

Shay Segev, CEO of DAZN Group, said: “DAZN’s global sports offering expanded into France last year and we’re excited to announce that Brice Daumin is joining our team to help us grow in this evolving market. With his extensive in-market experience across our strategic imperatives – customer focus, commercial development, and distribution – Brice will play a key role in our long-term development in France. This is a clear statement of DAZN’s commitment to France and our ambition to continue growing in this exciting sports entertainment market.”

Brice Daumin, CEO of DAZN France, said: “This was an easy decision for me to make. DAZN has already demonstrated its offer right across Europe, with its operations in Belgium, Germany, Italy, Portugal and Spain. Working with the biggest rights holder, in local markets and on a global level, DAZN delivers a fantastic service in a way that works for fans and rights holders. The opportunities for further growth in France are clear, especially when you look at the expanding range of sports entertainment products DAZN is creating – e-commerce, ticketing, social experiences and gaming. The French sports fan is ready for a new experience, one that DAZN will deliver.”

Continue Reading

Alex Pratt

Clarion Gaming Digital Expands North American Reach with Global Gaming Business Acquisition

Published

on

clarion-gaming-digital-expands-north-american-reach-with-global-gaming-business-acquisition

 

iGaming Business (iGB) parent company Clarion Gaming Digital has acquired Global Gaming Business (GGB) as it accelerates its growth strategy across North America.

The purchase includes GGB magazine’s annual publications Casino Style, Tribal Government Gaming and Progressive Products Preview (P3) as well as its online assets including GGB News.

It will extend the digital publishing business’ global reach as the North American market enters a crucial phase, providing clients with access to a significantly bigger audience through its range of marketing services products.

Founded in 2002, GGB is trusted title with a reach beyond sports betting and iGaming into commercial and tribal gaming. It bolsters Clarion Gaming Digital’s ability to provide a comprehensive range of news, analysis and data to every sector of the industry.

Advertisement

The acquisition is a cornerstone of a wider multimillion pound investment to enhance Clarion Gaming Digital’s data and audience development.

“This is a major milestone for our digital business as we unlock the benefits of our investment,” the Managing Director for Clarion Gaming, Alex Pratt, said. “We are acquiring a business with deep industry heritage and with it the opportunity to build on its solid foundations in the United States.”

The B2B Global Content Director for Clarion Gaming Digital, Robin Harrison, said the acquisition came amid changes to state regulations as well as new land-based and online developments across the United States and Canada.

“We are delighted to seal this deal, which brings in new industry expertise to the team, expands our reach and consolidates our presence in a crucial region,” Harrison said. “We will build an offering that acts as the final word on key industry developments and GGB’s authority and relationships takes us a step closer to that goal.”

“We have had lengthy discussions with Clarion Gaming Digital in recent years and believe it shares our passion and vision for serving our readership in a way that will maintain the quality of the publications for decades to come,” the publisher and Chief Executive Officer for Casino Connection International LLC, the parent of GGB, Roger Gros, said. “As the gaming industry continues to grow in many different ways, our relationship with Clarion will make certain that our pivotal role in the industry remains unchanged and we can continue our important work going forward.”

Advertisement

Clarion Gaming Digital plans to further accelerate its North American expansion by leveraging unique partnerships on offer through the wider Clarion Events portfolio such as the DigitalPlay Summit at the Indian Gaming Tradeshow and Convention over April 10 to 11.

Continue Reading

Trending

Get it on Google Play

Offering comprehensive coverage on all aspects of the gaming sector, our daily posts include online and land-based gaming, betting, esports, regulatory and compliance updates, and technological advancements. Regular features encompass daily news articles, press releases, exclusive interviews, and insightful event reports.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Gaming News Room is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania