Everi provides two categories of products and services to casino operators: gaming machines and fintech solutions. On the gaming side, Everi makes slot machines — mechanical reel and video reel — that it leases to casinos or sells outright. Leased machines are the core recurring revenue driver: Everi retains ownership and earns a share of the daily win or a fixed daily fee per machine. Everi also operates the New York State lottery's VLT central determinant system under a contract running through 2029, earning a share of net win from roughly 17,300 connected VLTs. On the fintech side, Everi provides casinos with ATMs, cash kiosks, and point-of-sale devices that let patrons withdraw cash, access credit, or fund digital wallets on the casino floor. Everi charges a fixed service fee per transaction and receives interchange fees from card issuers, while paying casinos a commission for hosting equipment. Everi also sells compliance software, patron loyalty platforms, and credit bureau services to casino operators. Everi serves more than 2,800 gaming properties primarily in the U.S., Canada, and Australia. The Games segment's key growth levers are refreshing the installed base with new cabinet platforms, expanding into Illinois VLTs, and growing iGaming content delivery. FinTech growth relies on same-store transaction volume growth and cross-selling software products. In July 2024, Everi agreed to be acquired alongside IGT's Gaming & Digital business by Apollo-managed funds in an all-cash deal at $14.25 per share, with the combined entity to operate as a private enterprise pending regulatory approval.
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