Acquisition will enhance Everi’s player loyalty and guest engagement technology capabilities and expand addressable market Beyond Casino Gaming
Las Vegas, October 4 April 2022 /PRNewswire/ — Everi Holdings Inc. (NYSE: EVRI) (“Everi” or the “Company”) is a major provider of land-based and digital casino gaming content and products, financial technology and player loyalty solutions , today announced that it will expand its addressable market beyond casinos through an agreement to acquire certain strategic assets of Venuetize, Inc., extending the reach of its mobile capabilities to established gaming customers (“Venuetize”) for the first time. Venuetize is a privately owned innovator of mobile-first technology, providing advanced customer engagement and mobile commerce platforms for the sports, entertainment and hospitality industries. Venuetize works with its customers and partners and its venue ecosystem to enhance customer experience and strengthen their mobile channel engagement, resulting in increased revenue opportunities.
Randy Taylor“This acquisition will expand Everi’s target market beyond casino gaming for the first time, while also being a perfect fit with our capital allocation strategy, which has a proven track record of successful execution,” said Everi’s President and CEO. value-added investment in expanding our technology capabilities into new markets and geographies. The acquisition of Venuetize’s complementary assets and established customer base, as well as our existing financial access and loyalty products, is expected to further grow into more entertainment , sports and hospitality venues, and create new crossover marketing opportunities with our existing clients.”
Venuetize’s technology is used in nearly 100 venues worldwide, including partnerships with more than 50 sports teams and event venues associated with nine professional sports leagues and multiple retail and entertainment districts. Recognized world-class clients such as the PGA Tour, Churchill Downs, TD Garden Hub on Causeway Street, and majors associated with Major League Baseball, Major League Soccer, National Basketball Association, National Women’s Soccer League and National Hockey League Sports teams and venues, partner with Venuetize to build a connected community of fans and visitors through enhanced mobile engagement. In addition to expanding Everi’s target market into gaming-related industries through more than 185 third-party technology integrations, Venuetize is expected to accelerate the growth and integration of Everi’s mobile wallet and loyalty products with established gaming customers through a range of new mobile products.
Under customary conditions, the transaction is expected to close within 30 days. The acquisition will be funded from existing cash on hand. Following the acquisition of these assets, Venuetize’s experienced team will join Everi.
Darren Simmons“Venuetize will expand Everi’s recurring revenue base and leverage our combined capabilities and third-party integrations to further enhance our mobile and wallet product lines in gaming and e-wallets,” said Everi’s Executive Vice President and Head of FinTech Business. Capability. Gaming Adjacent Customers. We are excited to welcome the talented Venuetize team to Everi. We look forward to increasing their expertise and the company’s innovative technology solutions, which we expect will quickly become an important contribution to our ongoing mobile-first growth plans The addition of Venuetize opens an exciting new chapter for Everi, taking us into an ever-expanding mobile space with globally recognized clients and venues.”
Jon Rommfounder and CEO of Venuetize, said: “I am excited about the opportunity to bring our expertise and leading solutions to the ever-evolving gaming mobile landscape. Our team is well positioned to deliver seamless integration and sophisticated mobile-first The knowledge and experience gained from the stadium and other venues’ platforms will easily create an all-encompassing structure to enhance client engagement in any gaming venture.”
Caution Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements typically contain words such as “will,” “anticipate,” “leverage,” “anticipate,” “expand,” “plan,” “believe,” “target,” “future,” ” Estimate, “may,” “should,” “intend,” or “well positioned” and similar expressions to identify forward-looking-looking statements.
The forward-looking statements in this press release are subject to additional risks and uncertainties, including those identified under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our filings with the Securities and Exchange Commission. Risks and Uncertainties Commission (“SEC”), including but not limited to our Annual Report on Form 10-K, for the fiscal year ended December 31, 2021 Filed with the U.S. Securities and Exchange Commission March 1, 2022 and subsequent periodic reports, and based on information available to us on this date.
These cautionary statements are consistent with our forward-looking statements and you are cautioned not to place undue reliance on these forward-looking statements. Any forward-looking statements contained herein speak only as of the date they are made, and we do not intend and undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
This press release should be read in conjunction with our latest reports on Forms 10-K and 10-Q and the information contained in our other filings with the SEC. Understanding the information contained in these documents is important to gain a complete understanding of our reported financial results and business prospects for future periods.
About Wynn
Everi’s mission is to lead the gaming industry through the power of people, imagination and technology. Focused on player engagement and helping casino customers operate more efficiently, the company develops entertainment gaming content and gaming machines, gaming systems and services for land-based and iGaming operators. The company is also a preeminent provider of comprehensive and trusted financial technology solutions that power casinos while improving operational efficiency and meeting regulatory compliance requirements, including products and services that facilitate convenient and secure cash and cashless financial transactions, Self-service player loyalty tools and apps, as well as regulatory and intelligence software. For more information, please visit www.everi.com, which is regularly updated with financial and other information about the company.
About the venue
Venuetize is the leading mobile technology and advanced mobile commerce platform for the sports, entertainment and hospitality industries. Venuetize provides a mobile-first technology platform that enables customers to engage with guests in a more personalized and meaningful way. With over 185 third-party integrations, including ticketing, mobile POS ordering, content, social media, and sports betting, Venuetize serves more than 50 major clients across nearly 100 venues. Our purpose is to help our customers connect their customers to the world they want to experience in an easier, safer and more valuable way. Founded in 2014, Venuetize works with professional sports teams, stadiums, casinos, entertainment districts and shopping destinations worldwide. For more information, visit http://www.venuetize.com/.
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SOURCE Everi Holdings Inc.
