Casino technology developer Everi Holdings and gambling solutions developer International Game Technology (IGT) have merged operations, with the new entity set to focus on both the gaming and fintech sectors.
Everi will merge specifically with IGT’s Global Gaming and PlayDigital divisions, with the firms outlining a joint goal of creating “a global leader in gaming equipment, FinTech services and casino systems”.
For its part, Everi is contributing the bulk of the fintech solutions to the new entity, with the firm having enhanced its portfolio in this space over recent years. This will comprise financial access solutions, information services, self-service kiosks, equipment maintenance and support, security, regtech, compliance, a mobile platform and digital wallet.
These will be combined with the IGT Global Gaming and PlayDigital services – mobile operator solutions, player loyalty with bonusing and offers, analytics and a data lake – to create a ‘one stop shop’ for ‘all aspects of the gaming ecosystem’.
“This morning we announced the strategic combination of Everi with IGT’s Gaming and Digital businesses,” said Randy Taylor, CEO of Everi.
“We are excited about the opportunity to bring together the two companies to create a world-class leader in gaming solutions for our customers.”
Looking ahead, the new group expects mid-single digit revenue, according to a compound annual growth rate, through to 2026, and has identified its fintech operations as key to this.
The joint statement highlighted distributing fintech systems in international gaming markets coupled with higher system win rates coupled with the group’s enhanced fintech capabilities
“We are bringing together two businesses with complementary strengths that are stronger and more valuable together,” added IGT CEO, Vince Sadusky.
“The combination results in a comprehensive and diverse product offering, addressing more aspects of the gaming ecosystem across land-based gaming, igaming, sports betting, and fintech.
“The creation of separate gaming and lottery companies, each with experienced management teams and simplified business models, better positions each company to service customers and create significant value for stakeholders.”
