Industry News
EVERI Announces Successful Completion of the Previously Announced Partial Redemption of its 7.50% Senior Unsecured Notes due 2025
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.
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]
IAGA
The International Association of Gaming Advisors (IAGA) Announces 2024 International Gaming Summit in Washington, D.C.
The International Association of Gaming Advisors (IAGA) will hold its 41st International Gaming Summit Monday, May 27 through Thursday, May 30, 2024 at The Ritz-Carlton Washington, D.C.
As a premier event that brings together leaders from all global gaming sectors, the Summit will provide operators, suppliers, attorneys, investors, bankers, regulators and other advisor delegates with an unparalleled opportunity to meet and discuss the most important issues facing gaming.
“We are looking forward to holding this year’s 41st Annual International Gaming Summit in Washington, D.C., and are pleased to announce an agenda that includes a specific focus on some of the key sports betting issues the rapidly expanding US market is facing. As part of this focus, we will bring together representatives from global sports betting operators, regulatory agencies, professional sports leagues and other experts to discuss how the industry’s sports betting stakeholders can better work together to ensure a sustainable, responsible sports betting environment that is built on best practices lessons learned from other markets,” John Stawyskyj, President of IAGA, said.
“Beyond our sports betting focus, our diverse agenda includes discussions on other issues of importance including the growing impact of fraud and cyber breaches on regulated operators, a look into the federal and state lobbying process, an update on what’s happening in other gaming markets outside North America, a deep dive into new technologies and how they might impact gaming and more. I look forward to welcoming our delegates to Washington and participating with them in lively discussions about these critical issues and more,” Stawyskyj added.
Charlie Skinner
Marker Trax Appoints John Henderson as Senior Vice President of Operations
Marker Trax, a leader in cashless payment solutions for the gambling industry, has announced the appointment of John Henderson as its senior vice president of operations.
As the company continues solidifying its cashless payments sector leadership position, Henderson joins the team to play a key role in leading strategic planning efforts, executing new operator and customer initiatives, directing pursuit of key performance indicators, and ensuring overall product and technology quality control. He reports directly to, and will work closely with, Marker Trax President Charlie Skinner.
Henderson is a seasoned, energetic industry veteran who brings to Marker Trax more than four decades of success in delivering technology-based business solutions, leading innovation-forward companies seeking to increase their industry footprints and to solidify their market shares.
“We’re cementing our leadership position in the cashless space, and John is the right leader, at the right time, to help guide us there. He has tactical expertise, and a long track record of success in the IT space. More than that, though, he’s always eager to innovate – which aligns perfectly with our philosophy and goals. We’re lucky to have him on board,” Charlie Skinner, President of Marker Trax, said.
Immediately prior to joining Marker Trax, Henderson served as chief information officer at WorldStrides, a global leader in educational travel services, and helped the company navigate a business and IT transformation program. Henderson has also held client partner roles at Accenture, IBM, and Cognizant, and has served numerous global brands including Choice Hotels, Hilton Hotels, MGM Resorts, Wynn, Disney, and Royal Caribbean.
“Every step of his career, John’s shown natural aptitude for client relationship management and large-scale systems integrations, and a keen, tactical eye for optimizing performance at all levels of an operation. At Marker Trax, we’re increasing our market footprint through continual innovation, and John’s tactical leadership will be of tremendous benefit to reaching our goals,” Skinner said.
Henderson’s addition caps a prolific run of recent accomplishments for the company. It recently unveiled its innovative consumer product, Moolah Play, secured renewed commitment from partner and global payments leader Euronet Worldwide Inc., and is introducing its cashless credit technology into more markets around the country.
Affinity Interactive
Affinity Interactive Appoints Scott Butera as President & Chief Executive Officer
Affinity Interactive has announced the appointment of Scott Butera as President & Chief Executive Officer, effective immediately.
Mr. Butera, who most recently led AI’s Sports Information Group (SIG) business, brings over 30 years of experience in gaming, hospitality, media, entertainment, and sports to the pivotal role. In his new capacity, Mr. Butera will set strategy and oversee operations of the Company’s diversified portfolio of casinos resorts across Nevada, Missouri, and Iowa. He will also continue to oversee all print and online media platforms, including Daily Racing Form.
Mr. Butera is an industry veteran who has a history of leading growth and innovation at numerous companies. As CEO of SIG, he led initiatives to develop retail and business products and optimize ecommerce sales for the Daily Racing Form. Under his leadership, SIG experienced significant growth in market share and revenue. Previously, Mr. Butera served as President of Fubo Gaming at Fubo TV Inc. He has also held CEO and President positions at MGM Resorts International, the Arena Football League, Foxwoods Resort & Casino, Tropicana Entertainment, and Trump Entertainment, among others. Earlier in his career, he worked as an investment banker for more than a decade, gaining valuable financial expertise that he later applied to strategic decision-making in the gaming industry. Mr. Butera has a B.A. from Trinity College, where he served as a Trustee, and an MBA from New York University.
“Scott’s operating acumen and deep knowledge of the gaming and entertainment industries have helped AI and Sports Information Group expand product offerings and improve the sports and gaming experience for consumers around the world. I am confident Scott will integrate seamlessly into this expanded role, and under his leadership, Affinity will achieve greater success, continuing to deliver world-class experiences to nearly 1 million users and guests across platforms,” James J. Zenni Jr., Chairman of Affinity Interactive, said.
“Affinity’s mission to elevate the gaming industry through advanced technology and unparalleled customer offerings – both across digital media platforms as well as in-person gaming – remains a driving force behind the business’ success. I am eager to collaborate with Jim and leverage my familiarity with the business as well as my passion for driving innovative change to execute on AI’s long-term strategic priorities,” Mr. Butera said.
-
Africa3 weeks ago
BMM Testlabs Continues Its Expansion in Africa with New Licenses in Botswana and Nigeria to Test Land-Based and Digital Products
-
Australia3 weeks ago
VGCCC Fines Bookmaker MintBet $100,000 for Repeat Breaches of its Responsible Gambling Code of Conduct
-
GAT Expo4 weeks ago
Pragmatic Play Prepares for GAT Cartagena Gaming Week 2024
-
Compliance Updates4 weeks ago
3 Oaks Gaming extends European reach with Romania licence
-
Central Europe4 weeks ago
Gaming Corps makes key European addition with Fortuna Entertainment Group partnership
-
Press Releases1 week ago
OpenBet Powers Record-Breaking 100,000+ Peak Bets per Minute at Grand National 2024
-
Africa3 weeks ago
KingMakers’ Nigerian operating business, BetKing, selects Genius Sports to power growth with in-play trading services
-
Africa3 weeks ago
IESF African Regional Qualifiers Host Announced