Everi Holdings to acquire Video King assets
Everi Holdings has entered into a purchase agreement worth $59m.
US.- Everi Holdings has announced that it has entered into a purchase agreement to acquire most of the assets of Video King, a provider of electronic bingo gaming tablets, video gaming content, instant win games and systems. It will pay $59m in cash subject to customary net working capital adjustments.
Randy Taylor, Everi chief executive officer, said: “Over the past several years, we have had great success with executing on acquisitions that grow our product capabilities and the markets we serve. During this time, we have established a track record of successfully scaling up acquisitions that have delivered an attractive return on investment and helped drive strong cash flow.
“We are highly confident that by helping to elevate our current Games, FinTech and Digital solutions with and adjacent to our established customer base, the acquisition of Video King will meet those same criteria and offer Everi with another lever for growth.”
Tim Richards, Everi executive vice president, chief strategy and digital officer, added: “Video King provides Everi with an expansive new channel to deploy our growing catalog of digital iGames, as well as enhance the player experience by incorporating our digital wallet and loyalty products, while adding a new source to generate recurring revenue.
“With an expanding demographic audience looking to engage in increased social and leisure activities, we see a significant opportunity to collaborate with the Video King team to develop new gaming content and play enhancements to optimize player engagement and drive increased customer traffic.”
Tim Stuart, chief executive officer and a co-founder of Video King, commented: “We are confident that as part of Everi, Video King will be in a very strong position to expand our product offerings to provide our long-time loyal customer base new enhanced games for our tribal, charitable and military markets. The combination of Everi’s games and other digital offerings with our strong electronic bingo base create a unique opportunity to accelerate future growth.”
Everi expects to complete the transaction in 60 days.
Everi installs Dynasty Vue cabinet at Yaamava’ Casino
Everi Holdings has announced the first installation of the company’s new Dynasty Vue cabinet at Yaamava’ Resort & Casino at San Manuel in Highland, California. The first deployment of Dynasty Vue showcases the Combo Cash Series, with two distinct base themes, Rockin’ Reels and Secret Treasures.
The new cabinet provides sightlines comparable to a dual-screen cabinet but features a custom display with game mechanics players like those of a portrait cabinet. Everi will host a ribbon-cutting ceremony today (April 4), with Yaamava’ and Everi leadership, along with The Money Man, Everi’s brand ambassador.
