{"id":235479,"date":"2022-10-04T12:30:23","date_gmt":"2022-10-04T17:30:23","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=235479"},"modified":"2022-10-05T18:15:25","modified_gmt":"2022-10-05T23:15:25","slug":"everi-buying-some-venuetize-assets-boosting-non-gaming-exposure","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/everi-buying-some-venuetize-assets-boosting-non-gaming-exposure\/","title":{"rendered":"Everi Buying Venuetize Assets to Boost Loyal Engagement Tech"},"content":{"rendered":"

Everi Holdings (NYSE: EVRI) revealed its first acquisition outside the gaming business on Tuesday, announcing its purchase of certain assets from Venuetize, Inc.<\/p>\n

\"Everi
The Everi Holdings booth at the 2019 Global Gaming Expo in Las Vegas. The company is acquiring assets from Venuetize. (Image: Getty Images)<\/figcaption><\/figure>\n

Privately held Venuetize specializes in mobile technologies. While it\u2019s not a dedicated gaming company, it has some ties to the industry that are potentially appealing and useful to Everi. Financial terms of the transaction weren\u2019t disclosed.<\/p>\n

Venuetize is a privately owned innovator of mobile-first technologies that provide an advanced guest engagement and m-commerce platform for the sports, entertainment and hospitality industries,\u201d<\/strong> according to a statement.<\/p><\/blockquote>\n

Venuetize’s clients include the PGA Tour, Churchill Downs, TD Garden Hub on Causeway Street, and professional sports teams and venues associated with Major League Baseball, Major League Soccer, the National Basketball Association, the National Women’s Soccer League, and the National Hockey League.<\/p>\n

Everi Venturing Outside Gaming<\/h2>\n

Before Tuesday\u2019s announcement, Everi\u2019s bread and butter in terms of business lines has been slot machine manufacturing and, more recently, cashless gaming\/fintech.<\/p>\n

A significant driver of the Everi investment thesis is the company\u2019s fintech offerings, underpinned by the move to cashless gaming<\/a> at casinos across the country \u2014 one sped along by the coronavirus pandemic.<\/p>\n

\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\u2019s gaming device business is levered to the ongoing recovery in visitation levels at the Las Vegas Strip and regional and tribal casinos. That\u2019s while its fintech operation is tethered to the still-nascent move by operators to cashless gaming.<\/p>\n<\/div>\n

As noted above, Venuetize has exposure to \u201cgaming-adjacent\u201d industries, and the deal could drive Everi’s mobile wallet while boosting the gaming company\u2019s total addressable market.<\/p>\n

\u201cThe transaction is anticipated to close within 30 days, subject to customary conditions.\u00a0The acquisition will be funded from existing cash on hand. Following the acquisition of these assets, Venuetize’s experienced team will join Everi,\u201d according to the statement.<\/p>\n

Everi Making Deals<\/h2>\n

The acquisition of the Venuetize assets extends Everi\u2019s 2022 run of deal-making. In May, the company purchased historical horse racing (HHR) developer and manufacturer Intuicode Gaming in a transaction valued at $22 million to $27 million<\/a>.<\/p>\n

In February, Everi paid $30.41 million for ecash company Holdings Pty Ltd., an Australia-based developer and provider of cash handling and payment technology for gaming companies in Australia, Asia, Europe, and the US.<\/strong><\/p>\n

In January, Everi said it\u2019s buying select assets from Australia-based Atlas Gaming. Atlas is a producer and provider of proprietary gaming content and products. Las Vegas-based Everi is acquiring select development technology and intellectual property assets from the seller. It\u2019s estimated the buyer paid in the mid-single digit million-dollar range in that deal.<\/p>\n","protected":false},"excerpt":{"rendered":"

Everi Holdings (NYSE: EVRI) revealed its first acquisition outside the gaming business on Tuesday, announcing its purchase of certain assets from Venuetize, Inc. Privately held Venuetize specializes in mobile technologies. While it\u2019s not a dedicated gaming company, it has some ties to the industry that are potentially appealing and useful to Everi. Financial terms of […]<\/p>\n","protected":false},"author":46,"featured_media":235483,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33810,32093],"tags":[81898,81966],"acf":[],"yoast_head":"\nEveri Buying Some Venuetize Assets, Boosting Non-Gaming Exposure<\/title>\n<meta name=\"description\" content=\"Everi is adding to its non-gaming portfolio with the purchase of select assets from Venuetize.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/everi-buying-some-venuetize-assets-boosting-non-gaming-exposure\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Everi Buying Some Venuetize Assets, Boosting Non-Gaming Exposure\" \/>\n<meta property=\"og:description\" content=\"Everi is adding to its non-gaming portfolio with the purchase of select assets from Venuetize.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/everi-buying-some-venuetize-assets-boosting-non-gaming-exposure\/\" \/>\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=\"2022-10-04T17:30:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-10-05T23:15:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/everi.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\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-some-venuetize-assets-boosting-non-gaming-exposure\/\",\"url\":\"https:\/\/www.casino.org\/news\/everi-buying-some-venuetize-assets-boosting-non-gaming-exposure\/\",\"name\":\"Everi Buying Some Venuetize Assets, Boosting Non-Gaming Exposure\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/everi-buying-some-venuetize-assets-boosting-non-gaming-exposure\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/everi-buying-some-venuetize-assets-boosting-non-gaming-exposure\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/everi.jpg\",\"datePublished\":\"2022-10-04T17:30:23+00:00\",\"dateModified\":\"2022-10-05T23:15:25+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Everi is adding to its non-gaming portfolio with the purchase of select assets from Venuetize.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/everi-buying-some-venuetize-assets-boosting-non-gaming-exposure\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/everi-buying-some-venuetize-assets-boosting-non-gaming-exposure\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/everi-buying-some-venuetize-assets-boosting-non-gaming-exposure\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/everi.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/everi.jpg\",\"width\":1200,\"height\":800,\"caption\":\"The Everi Holdings booth at the 2019 Global Gaming Expo in Las Vegas. 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