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Everi Payments acquires strategic assets from Micro Gaming Technologies

EveriEveri Holdings Inc, a provider of gaming products, FinTech, and player loyalty solutions has announced that its subsidiary Everi Payments Inc has acquired certain strategic assets of Micro Gaming Technologies Inc (MGT).

MGT’s products, software, and technologies for casino operators will be an 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 several 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, according to a statement.

“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,” Darren Simmons, EVP, and FinTech Business Leader, Everi said.

“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,” Darren added.

Simmons further added that the acquisition represents a significant step forward in the company’s goal to establish loyalty and marketing-based services as a meaningful growth driver for its business.  In addition, combining the product capabilities of MGT’s solutions with its existing and planned FinTech digital products will help accelerate the development and commercialization of a ‘digital neighborhood.’

Everi is a supplier of imaginative entertainment and trusted technology solutions for the casino, interactive, and gaming industry. With a focus on both customers and players, the company develops games and gaming machines, gaming systems and services, and is also a provider of core financial products and services, player loyalty tools and applications, and intelligence and regulatory compliance solutions.

Everi offers secure financial transactions for casinos and their patrons and delivers software tools and applications to improve casino operations efficiencies and fulfill regulatory compliance requirements.

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