- Strategic tuck-in acquisition further bolsters Everi’s competitive position in the growing market for casino-focused loyalty and marketing technology
- Advances Everi’s future-forward path to a “Digital Neighborhood” that provides an enhanced gaming experience for casino patrons while driving operator efficiencies
- Transaction expected to be immediately accretive to earnings and Adjusted EBITDA
Everi Holdings Inc. (NYSE: EVRI) (“Everi” or the “Company”), a premier single-source provider of gaming products, financial technology and player loyalty solutions in the gaming industry, today announced that its wholly owned subsidiary Everi Payments Inc. has acquired certain strategic assets of Micro Gaming Technologies Inc. (“MGT”), a privately owned provider of self-service casino loyalty and marketing products and promotional tools and apps. MGT’s products, software and technologies for casino operators represent an attractive, complementary addition to Everi’s portfolio of FinTech products and services. The acquisition also provides Everi with a portfolio of customer locations where MGT’s solutions are currently installed, including at properties of many key Everi customers.
Under the terms of the transaction, Everi acquired certain assets of MGT for an initial payment at the time of closing of $15 million, with a further $5 million to be paid April 1, 2020 and $5 million on December 24, 2021. Everi expects to fund the acquisition from existing cash on hand and future cash flow.
Darren Simmons, Everi’s 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 roadmap 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.
“We see a significant opportunity for growth in the player loyalty market and the planned acquisition of the MGT assets represents a significant step forward in our goal to establish loyalty and marketing-based services as a meaningful growth driver for our business. In addition, combining the product capabilities of MGT’s solutions with our innovative existing and planned FinTech digital products will help accelerate the development and commercialization of our ‘Digital Neighborhood.’ We are extremely focused on driving our vision of providing seamless, integrated, real-time, self-service connections that offer our casino customers the ability to aggregate a guest’s interactions providing for a 360-degree view of their spending patterns within the casino enterprise.”
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 acquisition of certain assets discussed herein and any expected benefits from those assets and combining said assets with Everi’s existing business, speaks only as of the date, today December 30, 2019, 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.
Soft2Bet Announces 2023 Financial Results
Company’s strong growth driven by Motivational Engineering Gamification Application (MEGA), sports betting, and geographic expansion.
Soft2Bet, a leading B2B casino and sportsbook platform provider, today released several key metrics demonstrating impressive company growth in 2023. Soft2Bet’s revenues grew steadily in 2023, as the company’s focus on expansion in regulated markets and highly gamified products enabled it to deliver its strongest year to date. For 2023, the company recorded an audited growth of 46% in gross revenue across its B2B and B2C operational areas. This corresponds to a 207% increase in EBITDA from the prior reporting period.
These results were driven by several factors, including the introduction of Soft2Bet’s gamification solutions known as Motivational Engineering Gamification Application (MEGA), which have proven to significantly increase Gross Gaming Revenue (GGR) by more than 60%, player engagement and average revenue per user (ARPU) by 70% for the company’s partners.
Other contributing factors include strong growth in the company’s sports betting solutions, which saw a revenue increase of 300% in 2023, and expansion into a number of regulated markets with new licenses in Sweden, Greece, Romania and Italy.
Uri Poliavich, CEO and founder of Soft2Bet, commented: “With our MEGA solutions and ambitious expansion strategy, 2023 was an incredible year for our family at Soft2Bet. I have no doubt we’ll continue to see strong growth in 2024 as we innovate our gamification engine. We are already developing partnerships with new and old friends, expanding into North America, and delivering more game-changing solutions for our partners this year.”
In 2024, Soft2Bet will focus on further expanding its presence in Europe and North America. The company looks forward to entering the US market in New Jersey, as well as expanding into Portugal and Ontario, Canada and Mexico over the course of the year.
Soft2Bet’s primary focus remains on enhancing its MEGA technology. Powered by a robust tech stack, this solution consistently boosts engagement, volumes, and revenues by providing unparalleled personalization and tailored user experiences. Innovation remains at the core of the company’s philosophy, and going forward it will look to integrate AI and other new technologies to enhance and inform new features.
7777 gaming elevates global presence through strategic partnership with SoftGamings
7777 gaming, a leading provider of innovative casino games, announces its strategic partnership with SoftGamings, a prominent online casino content aggregator. Through this collaboration 7777 gaming expands its reach and offers more than 140 of its top-tier casino games to the extensive client base of SoftGamings.
SoftGamings is renowned for its commitment to providing clients with high-quality, creative, and innovative online casino products. The partnership with 7777 gaming adds a new dimension to SoftGamings’ diverse portfolio, enhancing the gaming experience for players across the globe.
Elena Shaterova, Chief Commercial Officer at 7777 gaming, has commented about the collaboration: “We are excited to partner with SoftGamings and bring our cutting-edge casino games to a broader audience. This collaboration aligns perfectly with our mission to provide players worldwide with top-notch gaming experiences. SoftGamings’ reputation for excellence in the industry makes them an ideal partner, and we look forward to a mutually successful journey.”
Anna Kesilova, Head of Partnership at SoftGamings stated: “We are delighted to welcome 7777 gaming to our esteemed list of partners. Their commitment to innovation and quality aligns seamlessly with our vision. The addition of their games to our platform enhances our ability to provide clients with a comprehensive and world-class gaming experience. We look forward to a successful partnership that brings excitement to players and value to our clients.”
SoftGamings is committed to working with the best online casino game providers to deliver unparalleled gaming solutions. The addition of 7777 gaming’s portfolio reinforces SoftGamings’ dedication to offering clients a diverse and engaging selection of online casino games.
Exploring Online Casinos: A Deep Dive into Finnish, Latin American, and American Platforms
The world of online gambling has undergone a seismic shift in recent years, with players from all corners of the globe flocking to digital platforms for their gaming needs. From Finland to Latin America to the United States, online casinos have become a staple of entertainment, offering an unparalleled array of games and experiences. In this comprehensive exploration, we’ll delve into the unique characteristics, trends, and player preferences that define online casinos in three distinct regions: Finland, Latin America, and the United States. By dissecting the intricacies of each market, we’ll gain a deeper understanding of the global landscape of online gambling.
Finnish Online Casinos
A Beacon of Innovation and Efficiency Nestled in the heart of Scandinavia, Finland boasts a reputation for technological prowess and innovation, and its online gambling industry is no exception. Finnish online casinos, affectionately known as “pikakasinot,” have garnered attention worldwide for their streamlined and efficient approach to gaming. At the forefront of this innovation is the concept of online casinos without registration, a concept that has revolutionized the way players access their favourite games.
At the heart of Finnish online casinos’ success lies the integration of Trustly’s Pay N Play service, a groundbreaking payment solution that eliminates the need for traditional registration processes. With Pay N Play, players can make instant deposits and withdrawals directly from their bank accounts, bypassing the cumbersome registration forms and identity verification procedures typically associated with online casinos.
But it’s not just the convenience of Pay N Play that has propelled Finnish online casinos to the forefront of the industry. These platforms also prioritize player security, holding licenses from reputable regulatory authorities such as the Malta Gaming Authority and the UK Gambling Commission. Advanced encryption technology ensures that players’ sensitive information remains safe and secure, giving them peace of mind as they enjoy their favourite games.
In terms of game selection, Finnish online casinos offer a diverse array of options to cater to every taste and preference. From classic slots and table games to live dealer experiences and progressive jackpots, there’s something for everyone at these innovative platforms. And with generous bonuses and promotions on offer, players are incentivized to keep coming back for more.
Latin American Online Casinos
Embracing Diversity and Accessibility in Latin America, the online gambling landscape is as diverse as the cultures that inhabit the region. From the bustling streets of Brazil to the scenic vistas of Argentina, players across Latin America have embraced the convenience and accessibility of online casinos in droves. And much like their Finnish counterparts, Latin American online casinos without registration have emerged as a popular choice among players seeking instant access to their favourite games.
Known locally as “casinos sin registro,” these platforms offer a simplified gaming experience that resonates with players across the region. With no registration required, players can dive straight into the action, making deposits and withdrawals with ease using a variety of local payment methods.
One of the key advantages of Latin American online casinos is their commitment to catering to local tastes and preferences. From culturally-inspired slots and traditional table games to live dealer experiences that capture the essence of Latin American hospitality, these platforms offer a diverse array of gaming options that resonate with players on a personal level.
But it’s not just the games themselves that set Latin American online casinos apart; it’s also the way they prioritize player security and trust. By partnering with reputable payment providers and implementing robust security measures, these platforms ensure that players can enjoy their gaming experience with peace of mind.
American Online Casinos
Navigating a Complex Regulatory Landscape in the United States, the online gambling landscape is as complex and varied as the country itself. With regulations varying from state to state, navigating the legal framework can be a daunting task for both players and operators alike. However, despite these challenges, online gambling has continued to gain traction in the US, with several states legalizing and regulating online casino gaming in recent years.
While traditional registration processes are still common in many parts of the country, there are signs of a gradual shift towards online casinos without registration as the industry evolves. Platforms such as Rush Games and DraftKings Casino have begun to gain traction, offering players a streamlined and hassle-free gaming experience.
In terms of game selection, American online casinos offer a wide range of options to cater to every taste and preference. From classic slots and table games to innovative new titles and exclusive partnerships with leading software providers, there’s no shortage of excitement to be found at these platforms.
But perhaps the biggest draw of American online casinos is their commitment to player safety and security. With stringent regulations in place to protect players’ interests and prevent underage gambling, players can rest assured that they’re in good hands when they play at a licensed and regulated online casino in the US.
As we’ve seen, the world of online gambling is a diverse and dynamic landscape, with each region bringing its own unique characteristics and player preferences to the table. From the streamlined efficiency of Finnish online casinos to the cultural richness of Latin American platforms to the complex regulatory landscape of the United States, there’s something for everyone in the world of online casinos.
By exploring the intricacies of each market, we’ve gained valuable insights into the global landscape of online gambling and the factors that drive its continued growth and success. Whether you’re a casual player looking for some entertainment or a seasoned gambler seeking your next big win, online casinos offer an unparalleled gaming experience that’s sure to satisfy even the most discerning of tastes.
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