{"id":200707,"date":"2022-02-07T11:03:30","date_gmt":"2022-02-07T19:03:30","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=200707"},"modified":"2022-02-07T12:16:26","modified_gmt":"2022-02-07T20:16:26","slug":"everi-buying-ecash-holdings-to-expand-cashless-gaming-menu","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/everi-buying-ecash-holdings-to-expand-cashless-gaming-menu\/","title":{"rendered":"Everi Expands Cashless Gaming Offerings in ecash Holdings Buy"},"content":{"rendered":"

Everi Holdings (NYSE:EVRI) is bolstering its cashless gaming portfolio through the $30.41 million acquisition of ecash Holdings Pty Ltd.<\/p>\n

\"Everi
An Everi cashless gaming machine displayed at G2E 2018. The company is buying ecash Holdings. (Image: Fantini Research)<\/figcaption><\/figure>\n

ecash Holdings is a privately held, Australia-based developer and provider of cash handling and payment technology for gaming companies in Australia, Asia, Europe and the US. The deal is an addition to Everi’s growing Fintech business.<\/p>\n

The acquisition will provide Everi with a complementary portfolio of new customer locations throughout Australia, the United States and other geographies. The closing of the transaction, subject to customary conditions, is expected to occur within 60 days,\u201d<\/strong> according to a statement issued by Las Vegas-based Everi.<\/p><\/blockquote>\n

It’s the second Australia acquisition for Everi in as many months. In January, the company said it’s buying select assets from Atlas Gaming<\/a>. Atlas is a producer and provider of proprietary gaming content and products. Financial terms of that transaction weren’t disclosed.<\/p>\n

Terms of ecash Holdings Deal<\/h2>\n

Initially, Everi will dole out $14 million for ecash Holdings, with remaining payments to occur on the deal’s anniversary dates in 2023 and 2024.<\/p>\n

\u201cSubject to achieving certain growth targets, there will be an additional contingent payment of up to AUD$10 million, which could increase the total consideration up to AUD$43 million. Everi expects to fund the total purchase price from existing cash on hand and future cash flow,\u201d according to the statement.<\/p>\n

A major part of the Everi investment thesis is the company\u2019s fintech offerings, and that\u2019s underpinned by the move to cashless gaming<\/a> at casinos across the country — one sped along by the coronavirus pandemic.<\/strong><\/p>\n

While Everi\u2019s fintech story is an increasingly prominent part<\/a> of the equity thesis, it\u2019s also still in its early innings. The company’s gaming device business is levered to the ongoing recovery in visitation levels at the Las Vegas Strip and regional and tribal casinos, while its fintech operation is tethered to the still-nascent move by operators to cashless gaming.<\/p>\n

Everi Expansion<\/h2>\n

With the ecash Holdings and Atlas acquisitions, Everi expands its footprint in Australia, which is one of the most mature and vibrant gaming markets in the world. The ecash buy also plugs some holes in the Everi portfolio and serves and could potentially be an avenue for market expansion.<\/p>\n

\u201cThe acquisition will also provide us with an incremental customer base in certain US and other gaming markets we do not currently serve. Everi has never been better positioned as we continue to successfully execute our strategic growth initiatives,\u201d said Everi President and COO Randy Taylor in the statement.<\/p>\n

Last year, Fitch Ratings estimated 54 percent of Everi\u2019s EBITDA comes from gaming and 46 percent from fintech. The company’s clients include large commercial and tribal operators.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Everi Holdings (NYSE:EVRI) is bolstering its cashless gaming portfolio through the $30.41 million acquisition of ecash Holdings Pty Ltd. ecash Holdings is a privately held, Australia-based developer and provider of cash handling and payment technology for gaming companies in Australia, Asia, Europe and the US. The deal is an addition to Everi’s growing Fintech business. […]<\/p>\n","protected":false},"author":46,"featured_media":200709,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,32093],"tags":[],"acf":[],"yoast_head":"\nEveri Buying ecash Holdings To Expand Cashless Gaming Menu<\/title>\n<meta name=\"description\" content=\"Everi adds to cashless gaming portfolio in deal for Australia's ecash Holdings.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Everi Buying ecash Holdings To Expand Cashless Gaming Menu\" \/>\n<meta property=\"og:description\" content=\"Everi adds to cashless gaming portfolio in deal for Australia's ecash Holdings.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/everi-buying-ecash-holdings-to-expand-cashless-gaming-menu\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-07T19:03:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-02-07T20:16:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/everi2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/everi-buying-ecash-holdings-to-expand-cashless-gaming-menu\/\",\"url\":\"https:\/\/www.casino.org\/news\/everi-buying-ecash-holdings-to-expand-cashless-gaming-menu\/\",\"name\":\"Everi Buying ecash Holdings To Expand Cashless Gaming Menu\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/everi-buying-ecash-holdings-to-expand-cashless-gaming-menu\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/everi-buying-ecash-holdings-to-expand-cashless-gaming-menu\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/everi2.jpg\",\"datePublished\":\"2022-02-07T19:03:30+00:00\",\"dateModified\":\"2022-02-07T20:16:26+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Everi adds to cashless gaming portfolio in deal for Australia's ecash Holdings.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/everi-buying-ecash-holdings-to-expand-cashless-gaming-menu\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/everi-buying-ecash-holdings-to-expand-cashless-gaming-menu\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/everi-buying-ecash-holdings-to-expand-cashless-gaming-menu\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/everi2.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/everi2.jpg\",\"width\":1280,\"height\":720,\"caption\":\"An Everi cashless gaming machine displayed at G2E 2018. 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