Everi to Purchase Monetary Expertise Supplier

LAS VEGAS, Feb. 7, 2022 /PRNewswire/ — Everi Holdings Inc. (NYSE: EVRI) (“Everi” or the “Firm”), a premier supplier of land-based and digital on line casino gaming content material and merchandise, monetary expertise and participant loyalty options, introduced immediately that it has entered into an settlement to accumulate ecash Holdings Pty Ltd. (“ecash”), a privately owned, Australia-based developer and supplier of progressive money dealing with and monetary fee options for the broader gaming trade in Australia, Asia, Europe and the US. ecash’s merchandise and applied sciences signify a strategic extension of Everi’s present suite of economic expertise options inside the FinTech phase. The acquisition will present Everi with a complementary portfolio of latest buyer areas all through Australia, the US and different geographies. The closing of the transaction, topic to customary circumstances, is anticipated to happen inside 60 days.

Everi will purchase ecash for assured funds totaling AUD$33 million, with an preliminary fee on the time of closing of AUD$20 million (roughly US$14 million) with the remaining funds to be made on every of the primary and second anniversaries in 2023 and 2024, respectively, following the date of the transaction’s closing. Topic to reaching sure development targets, there will likely be an extra contingent fee of as much as AUD$10 million, which may improve the entire consideration as much as AUD$43 million. Everi expects to fund the entire buy worth from current money readily available and future money movement.

- Advertisement -

“We’re happy to enter into this settlement to accumulate ecash and welcome their whole staff to Everi upon the closing of the transaction,” stated Randy TaylorEveri’s President and Chief Working Officer. “ecash is a strategic addition to our rising international portfolio that may present Everi with an entry into the big Australian gaming market due to their skilled staff, confirmed product portfolio and established buyer base. The acquisition may even present us with an incremental buyer base in sure U.S. and different gaming markets we don’t at the moment serve. Everi has by no means been higher positioned as we proceed to efficiently execute our strategic development initiatives.”

Darren SimmonsEveri’s Government Vice President and FinTech Enterprise Chief, stated, “The combination of ecash into our sturdy FinTech portfolio and skill to scale this complementary enterprise represents a big alternative to additional broaden our management place within the house and additional diversify the markets we serve. We additionally count on that a number of of our FinTech and RegTech merchandise, reminiscent of our Trilogy™ Loyalty options and Anti-Cash Laundering software program, could have applicability and add worth for Australian gaming operators.”

Andre SoussaChief Government Officer of ecash stated, “We’re thrilled by the chance to hitch the gaming trade’s FinTech chief. By integrating ecash’s present merchandise and markets with Everi’s choices, we will add worth throughout a a lot wider vary of purchasers and unlock thrilling new development alternatives alongside the way in which.” Subsequent to closing, Mr. Soussa will likely be employed by Everi within the capability of Managing Director, Australia.

- Advertisement -

Cautionary Observe Relating to Ahead-Trying Statements

This press launch accommodates “forward-looking statements” as outlined within the U.S. Personal Securities Litigation Reform Act of 1995. On this context, forward-looking statements usually comprise phrases reminiscent of “intends,” “anticipates,” “search,” “count on,” “plan,” “consider,” “aim,” “goal,” “future,” “estimate,” “could,” “ought to,” “effectively positioned” or “will” and related expressions to determine forward-looking statements. Ahead-looking statements on this press launch embrace, amongst different issues, statements with respect to the anticipated timing for the completion of the transaction and the anticipated advantages of the transaction, together with market share and future working and monetary outcomes.

The forward-looking statements on this press launch are topic to extra dangers and uncertainties, together with these set forth below the heading “Danger Elements” and “Administration’s Dialogue and Evaluation of Monetary Situation and Outcomes of Operations” in our filings with the Securities and Alternate Fee (the “SEC”), together with, with out limitation, our Annual Report on Kind 10–Ok for the fiscal yr ended December 31, 2020 filed with the SEC on March 15, 2021 and subsequent periodic experiences, and are primarily based on info accessible to us on the date hereof.

- Advertisement -

These cautionary statements qualify our forward-looking statements, and you might be cautioned to not place undue reliance on these forward-looking statements. Any forward-looking assertion contained herein speaks solely as of the date on which it’s made, and we don’t intend, and assume no obligation, to replace or revise any forward-looking statements, whether or not because of new info, future occasions or in any other case.

This press launch needs to be learn along with our most up-to-date experiences on Kind 10–Ok and Kind 10–Q, and the data included in our different filings with the SEC. Understanding the data contained in these filings is essential so as to absolutely perceive our reported monetary outcomes and our enterprise outlook for future durations.

About Everi

Everi’s mission is to steer the gaming trade by means of the facility of individuals, creativeness and expertise. With a concentrate on participant engagement and serving to on line casino prospects function extra effectively, the Firm develops entertaining recreation content material and gaming machines, gaming programs, and providers for land-based and iGaming operators. The Firm can also be a preeminent and complete supplier of trusted monetary expertise options that energy the on line casino ground whereas bettering operational efficiencies and fulfilling regulatory compliance necessities, together with services and products that facilitate handy and safe money and cashless monetary transactions, self-service participant loyalty instruments and purposes, and regulatory and intelligence software program. For extra info, please go to www.everi.com, which is up to date repeatedly with monetary and different details about the Firm.

About ecash

ecash is one in every of Australia’s main innovators in fee programs and money administration expertise. The corporate was based by Andre Soussa and Richard Soussa over 20 years in the past and has since developed to be the main innovator and supplier of fee applied sciences, reminiscent of money redemption terminals all through the gaming trade in Australia. ecash has expanded its fee expertise merchandise in a number of key markets internationally and is creating its Fintech product vary with a mission to be a key strategic accomplice in gaming and hospitality.

Be a part of Everi on Social Media
Twitter: https://twitter.com/everi_inc
LinkedIn:  https://www.linkedin.com/firm/everi
Fb:  https://www.fb.com/EveriHoldingsInc/
Instagram:  https://www.instagram.com/everi_inc

SOURCE Everi Holdings Inc.