Gaming technology and services provider Everi Holdings has confirmed to have inked an acquisition deal with Vegas-based software and casino marketing services provider company Micro Gaming Technologies (MGT). The company has announced to have sealed the deal for an initial payment of $15m.
According to the deal, Everi Holdings subsidiary, Everi Payments will acquire “strategic assets such as products, software and technologies from MGT. The deal has been finalized for an initial payment of $15 million from Everi.
An additional sum of $5 million is agreed to be paid by 1 April 2020, and a further $5m to close the deal is to be paid on 24 December 2021.
Commenting on the acquisition, Everi Executive Vice President and FinTech Business Leader, Darren Simmons 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.”
Everi Holdings has been strategically working on its expansion plans. Last month the company inked a partnership deal gaming content and technology services provider Scientific Games to tap into the online gaming market in New Jersey.