Everi Holdings Acquires Australian ecash merchant
Everi Holding, an American-based financial technology and casino equipment company is to buy an ecash merchant based in Australia. The intention was to acquire the ecash company via a guaranteed minimum price of 33 million AUD.
At the time of closing the deal, the initial payment of 20 million AUD will be made. The remaining 13 million AUD are to be transferred in 2023 and 2024. If a business successfully achieves the growth targets set, there will be additional payments of up to 10 million AUD. This will make the total value of a deal as big as 43 million AUD.
The actual transaction is expected to be made within two months. Everi will use the existing cash on hand, and future money flow. For Everi the acquisition is a chance to enter into Aussie gaming markets with ecash’s team which has an established customer base and successful products. Everi’s products like anti-money laundering software are expected to be valuable for Australian gaming operators.
Everi Holdings Acquires Atlas Gaming
An Australian gaming operator Atlas Gaming has recently sold off some of its assets to Everi Holding. Everi is based in Las Vegas and is interested in enhancing its presence in the Aussie market. Financial terms are still a subject of discussion, but the transaction should be closed within two months. This deal will expand the collection of Everi’s games portfolio and strengthen the company’s positions in the market.
Australia is the second-largest pokies market in the world. And the deal will enhance Everi’s presence in the region. Keeping the games fresh is essential, over 15,000 machines are planned to be replaced during 2022. The expected sales will reach 255 million AUD, and the EBITDA is evaluated at 107 million AUD.
In 2022 new casino openings are expected. New launches can bring up to 7000 gaming devices purchases.