Everi Holdings has announced that it has entered into an agreement to acquire ecash Holdings Pty Ltd. (ecash), a privately owned, Australia-based developer and provider of innovative cash handling and financial payment solutions for the broader gaming industry in Australia, Asia, Europe and the US.
Ecash’s products and technologies represent a strategic extension of Everi’s current suite of financial technology solutions within the FinTech segment. The acquisition will provide Everi with a complementary portfolio of new customer locations throughout Australia, the US and other geographies. The closing of the transaction, subject to customary conditions, is expected to occur within 60 days.
Everi will acquire ecash for guaranteed payments totaling AUD$33 million, with an initial payment at the time of closing of AUD$20 million (approximately US$14 million) with the remaining payments to be made on each of the first and second anniversaries in 2023 and 2024, respectively, following the date of the transaction’s closing. Subject to achieving certain growth targets, there will be an additional contingent payment of up to AUD$10 million, which could increase the total consideration up to AUD$43 million. Everi expects to fund the total purchase price from existing cash on hand and future cash flow.
“We are pleased to enter into this agreement to acquire ecash and welcome their entire team to Everi upon the closing of the transaction. ecash is a strategic addition to our growing global portfolio that will provide Everi with an entry into the large Australian gaming market thanks to their experienced team, proven product portfolio and established customer base. The acquisition will also provide us with an incremental customer base in certain U.S. and other gaming markets we do not currently serve. Everi has never been better positioned as we continue to successfully execute our strategic growth initiatives,” Randy Taylor, President and Chief Operating Officer of Everi, said.
“The integration of ecash into our robust FinTech portfolio and ability to scale this complementary business represents a significant opportunity to further expand our leadership position in the space and further diversify the markets we serve. We also expect that several of our FinTech and RegTech products, such as our Trilogy Loyalty solutions and Anti-Money Laundering software, will have applicability and add value for Australian gaming operators,” Darren Simmons, Everi’s Executive Vice President and FinTech Business Leader, said.
“We are thrilled by the opportunity to join the gaming industry’s FinTech leader. By integrating ecash’s current products and markets with Everi’s offerings, we will be able to add value across a much wider range of clients and unlock exciting new growth opportunities along the way,” Andre Soussa, Chief Executive Officer of ecash, said.
Subsequent to closing, Mr. Soussa will be employed by Everi in the capacity of Managing Director, Australia.
Blackstone Appoints Ian Silk as Chairman of Crown Melbourne
Blackstone, the new owners of Australia’s troubled Crown Resorts has appointed Ian Silk, former boss of Australia’s largest super fund AustralianSuper, as Chairman of Crown Melbourne.
Mr. Silk, who led AustralianSuper for 15 years, will be joined on the Crown Melbourne board by Helen Silver and who was previously Managing Director of consulting firm Hay Group.
Crown stated: “Mr Silk is widely recognised as one of Australia’s most experienced business leaders, with deep expertise in governance, investment and risk management.”
His appointment follows on from John Borghetti’s appointment as Chairman of Crown Sydney and John Van Der Wielen as Chairman of Crown Perth.
Ciarán Carruthers, current Chief Operating Officer of Wynn Macau Resort, will become Crown Resorts CEO in October.
Innovative Pilot Tackling Gambling Harm in Ballarat
The Andrews Labor Government is ensuring Ballarat locals experiencing the devastating impacts of gambling harm can get tailored treatment and support services with an innovative new programme being piloted in the region.
Minister for Consumer Affairs, Gaming and Liquor Regulation Melissa Horne, Member for Buninyong Michaela Settle and Member for Wendouree Juliana Addison launched the pilot, which equips allied health professions with a new way of screening patients to determine the best treatments to get them back on track.
It will increase access to, and training for, practitioners who operate within the mental health, alcohol and other drugs sectors and are treating people vulnerable to gambling harm.
Following feedback from Gambler’s Help service funded through the Victorian Responsible Gambling Foundation, the programme has been developed to improve pathways for people seeking treatment for co-existing conditions, such as a mental health issue in addition to gambling harm.
It starts with a simple question by a health practitioner to their client about whether they gamble and progresses through the appropriate pathway for each person from there.
The pilot programme will increase awareness of gambling harm among healthcare professions and remove barriers faced by people seeking help – such as stigma.
The trial uses the latest evidence to improve outcomes for the Ballarat community, with the lessons to inform future programmes across the state.
The training will be led by clinical consultant Dr Jane Oakes and the Foundation’s Principal Clinical Advisor, Tony Clarkson and provided to practitioners at Ballarat Community Health, Child and Family Services and the Salvation Army Health Services.
GTG Network signs stats, content and insights deal with NTD Pty Limited (NTD)
Agreement will see iSport Genius deploy consumer-facing data platform to a new Australian wagering venture whose shareholders include Tekkorp Capital LLC (Matt Davey), News Corp Australia, and TGW, a trust whose investors include Matt Tripp.
Data and technology provider GTG network (GTG) has signed a deal with NTD that will see the new wagering venture utilise GTG’s iSport Genius product. The content and insights platform serves the demand of consumers for a data rich experience, informing and educating customers about their choice of bet. iSport Genius is deployed on a wide range of Tier 1 Sportsbooks globally.
iSport Genius’ interactive consumer-facing platform leverages trillions of pieces of data and via an intuitively designed interface creates a multitude of engaging calls to action and helps improve the overall experience for punters and sports fans alike.
Nathan Rothschild, co-founder and partner of GTG, said: “Our deal with NTD is further recognition by leaders of the sports and betting industries of the engagement iSport Genius delivers. We’re thrilled to be making this announcement and contributing to the success of NTD.”
Andrew Menz, CEO of NTD said: “We’re very pleased to be working with GTG Network, global leaders in stats and content. Their rich data offering will be an important part of the outstanding experience we will be providing our customers.”
The NTD wagering venture will be powered by BetMakers.
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