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Everi Acquires Strategic Assets From Provider of Casino Loyalty and Marketing Technology, Micro Gaming Technologies
- 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.”
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 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.
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Top Online Casino Trends to Watch: Megapari’s Expert Analysis
The gambling industry is evolving rapidly, bringing new opportunities and challenges daily. To help affiliates maximize their earnings by focusing on what truly engages players, experts from Megapari discuss the latest trends and key developments shaping the future of the sector in their newest article.
Megapari Partners is an affiliate platform that welcomes traffic from more than 50 geographical regions. With revenue shares of up to 50%, as well as CPA and hybrid options, the platform boasts an active partner base of over 30,000 affiliates.
When discussing the evolution of online casinos, Megapari emphasized the ongoing growth in the popularity of crash games. Although the mechanics of these games are not new and have been recognized within the industry for some time, Megapari notes that their popularity continues to rise. Leading providers have adapted to the overwhelming demand for this category of slots by introducing their own variations of the crash game mechanics. Games like Aviator and Aviatrix have solidified their positions in the platform’s Top 5 most popular slots, combining high RTP with appealing graphics and captivating gameplay. Compared to Q4 2023, Megapari has observed an increase in the popularity of crash slots more than 60%, further confirming the hypothesis of the ongoing expansion of these types of games.
Additionally, Megapari’s experts point to the significance of the “retention” rate in clicker slots. These types of slots gained popularity during the first half of 2024, attracting players with their incredibly simple mechanics. While it may be too early to compare the popularity of clickers with that of crash games, Megapari believes that in the second half of 2024, the industry will likely witness further growth in this category of slots.
When it comes to classic and well-known mechanics, roulette games remain among the top preferences for players. American and European roulettes—classic games with familiar rules—continue to attract players with their straightforward and well-known gameplay. Despite the fact that roulettes have long been a staple among popular and widely recognized slots, Megapari has noted an increase in the popularity of this category of games, demonstrating that the appeal of classic games should not be underestimated.
Beyond the games themselves, the hardware used by players is also advancing, leading users to seek out slots with superior graphics. More and more providers are focusing not only on game mechanics but also on enhancing gameplay with visually stunning and immersive slots, such as Medusa by Spinomenal or Heist: Bank Rush. Complex animations and vibrant icons attract players, enriching their gaming experience with greater variety.
The post Top Online Casino Trends to Watch: Megapari’s Expert Analysis appeared first on European Gaming Industry News.
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Spillemyndigheden: Danes’ Gambling Spend Increased in August
Recent data from the Danish Gambling Authority has revealed a notable increase in overall gambling expenditure for August 2024.
In August, the Danes’ total spending on betting, online casino, gaming machines and land-based casino amounted to DKK 571 million. This is an increase of 4.3% compared with August 2023.
The total increase can be attributed to an increase in the spending on online casino. Meanwhile, the spending on betting, gaming machines and land-based casino in August 2024 decreased compared with August 2023.
The subdivision of game types is amended
In the monthly statistics for August 2024, poker now appears as a separate category under online casino. This amendment has been made in all monthly statistics since 2012 and causes minor changes to the gross gaming revenue (GGR) for the additional game types under online casino.
Previously, poker was part of the categories “Commission games” and “Other”. The change means that the category “Commission games” is removed and the commission games that are not poker will appear under the category “Other”.
Thereby, online casino will be subdivided into the following game types:
Gaming machines
Roulette
Blackjack
Poker
Bingo
Other
The update has not caused any retrospective amendments of the total GGR for the entire online casino market.
The post Spillemyndigheden: Danes’ Gambling Spend Increased in August appeared first on European Gaming Industry News.
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Inspired Entertainment Refreshes Long-Term Partner OPAP’s VLT Offering with Launch of 4000 Valor Slant and Vantage Machines
Inspired Entertainment Inc. has announced the upgrade of 4000 Video Lottery Terminals (VLTs) for its long-term partner, OPAP, Greece’s leading gaming company. As OPAP’s largest VLT supplier, with more than 9400 machines already in the market, Inspired will provide 4000 of its latest VLTs, including the global launch of the innovative Valor Slant VLT.
The Valor Slant is a standout addition to Inspired’s successful Valor family, designed exclusively for the Greek market, aiming to deliver an exceptional gaming experience. Featuring dual 32-inch HD screens, it combines stunning visuals with advanced technology and immersive sound, creating an unparalleled gaming environment. The Valor Slant complements OPAP’s VLT product range, joining the already proven and high-performance Valor and Vantage cabinets.
“OPAP has been a valued partner for Inspired, and we are thrilled to strengthen this collaboration. The introduction of the Valor Slant, along with the addition of Vantage cabinets, provides OPAP with an ideal range of VLTs that cater to player preferences,” said Brooks Pierce, President and CEO of Inspired.
“The refreshment of our VLTs fleet is a priority for OPAP. Our goal is to always meet and exceed customer expectations, offering them state-of-the-art machines and engaging new games, which allow us to always be one step ahead. Therefore, we are pleased to be cooperating with Inspired Entertainment for the introduction of their innovative Valor Slant cabinets and the expansion of our Vantage machine lineup,” said Jan Karas, Chairman and CEO of OPAP.
The post Inspired Entertainment Refreshes Long-Term Partner OPAP’s VLT Offering with Launch of 4000 Valor Slant and Vantage Machines appeared first on European Gaming Industry News.
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