Everi Holdings has bought assets from kiosk developer Atrient as it looks to develop a ‘powerful’ first point of interaction with casino customers.
The assets that Everi has acquired include technology that’s related to self-service enrolment and loyalty card printing, along with a marketing platform that manages and delivers a casino’s marketing programs to its customers. It has also bought a recurring revenue generating portfolio of customer contracts for over 50 customer accounts, representing over 100 locations that have already been implemented with these solutions.
Michael Rumbolz, President and Chief Executive Officer of Everi, said: “The assets that we acquired from Atrient will add complementary products and services to our FinTech business. We believe these assets will expand our market position and help us to accelerate growth in revenue and adjusted EBITDA. These assets will grow our core FinTech transactional base, improve our guest experience and create operating efficiencies at our customer’s properties. We believe the acquisition of the Atrient assets perfectly fit our criteria and creates a new product line under our information services line of business.
At G2E Las Vegas 2018 and ICE London 2019, the two companies demonstrated a shared vision with Atrient of how existing cash access solutions can be an important tool in driving player loyalty to improve the guest experience.
“Higher loyalty and marketing is an area in which we’ve only had limited involvement in the past. But one which we believe has a great opportunity for growth,” Mr. Rumbolz added. “Often, loyalty products are a casino patron’s first point of interaction when arriving at a casino property and our cash access solutions follow on as the next usual point of contact. By incorporating these products with our existing FinTech product portfolio, we create powerful interactions with the patron. And an opportunity to drive increased transaction volumes for our core services. All of this enhances the value of our products and services to casino patrons, while creating valuable efficiencies for gaming operators.”
Atrient’s customer roster include some of the largest gaming operators in North America and also includes several casino operators that Everi does not currently service.
“We will begin to immediately integrate these patron loyalty products into our powerful and award winning suite of FinTech products,” Mr. Rumbolz. “As we introduce new products like the Cash Club Digital Wallet, we can also provide a more comprehensive view of a patron’s spend, including from the non-gaming locations throughout the casino. This allows for a further refinement and customisation of gaming operator’s promotion and marketing efforts.”
Everi made the announcement as it reported its 10th consecutive quarter of year over year revenue and adjusted EBITDA growth and its fourth consecutive quarter of profitability.
Its fourth quarter revenue increased 14 per cent to $119.5m. Adjusted EBITDA rose six per cent to a fourth quarter record of $54.6m with net income for the quarter coming in at $4.2m. For the full year, revenue rose an impressive 14 per cent to $469.5m and adjusted EBITDA rose eight per cent to $230.4m.
Mr. Rumbolz added: “The strong growth that was experienced in revenue for both the fourth quarter and the full year is entirely organic in nature and it reflects the tremendous success that we’re achieving as a result of the investments that we’ve made in improving and expanding our product portfolio over the last several years.”