Gaming products, financial technology and player loyalty solutions firm Everi Holdings has paid an initial US$15m for assets of Micro Gaming Technologies, the provider of self-service casino loyalty and marketing products and promotional tools and apps.
MGT’s products, software and technologies for casino operators will complement Everi’s portfolio of products and services, providing it with a portfolio of customer locations where MGT’s solutions are currently installed, including at properties of many key Everi customers.
Under the terms of the deal, a further $5m is to be paid on April 1, 2020, as well as $5m on December 24, 2021. Everi expects to fund the acquisition from existing cash on hand and future cash flow.
Darren Simmons, Everi’s executive vice president and FinTech business leader, said: “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.
“By combining our existing Everi player loyalty and marketing solutions with these assets from MGT, we will be better positioned to offer our customers the industry’s most extensive suite of loyalty and marketing technology.
“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.”
