Everi Agrees to Acquire Strategic Assets and Retains Experienced Team from Australia-Based Atlas Gaming
Everi Holdings (NYSE: EVRI) announced its agreement to acquire certain strategic assets from Atlas Gaming Pty Ltd, a developer of gaming content based in Australia. The transaction, estimated to close within 60 days, includes game development technology and intellectual property. This acquisition is expected to enhance Everi's existing game development capabilities and facilitate expansion into new international markets, particularly Australia. Everi will finance the acquisition using existing cash reserves, and key members of Atlas's development team will join Everi following the transaction.
- Acquisition of Atlas Gaming enhances Everi's game development capabilities.
- Expected market expansion into Australia and other international markets.
- Integration of Atlas's experienced team into Everi's existing operations.
- None.
LAS VEGAS, Jan. 11, 2022 (GLOBE NEWSWIRE) -- Everi Holdings Inc. (NYSE: EVRI) (“Everi” or the “Company”), a premier provider of land-based and digital casino gaming content and products, financial technology and player loyalty solutions, today announced that it has agreed to acquire certain strategic assets, including game development technology and intellectual property of Atlas Gaming Pty Ltd and Atlas Gaming Technologies Pty Ltd (collectively, “Atlas”), an Australia-based developer and provider of proprietary gaming content and products. Everi expects the acquisition to close within the next 60 days. The acquisition of the Atlas assets complements Everi’s existing game development studios and portfolio of games while providing a pathway for future expansion into new international markets. In conjunction with the acquisition of these assets, Atlas development and engineering team members will join Everi. Everi will fund the acquisition from existing cash on hand.
Dean Ehrlich, Everi’s Executive Vice President and Games Business Leader, said, “We are excited to welcome members of the talented and experienced Atlas team to Everi. We look forward to Atlas’ game developers and engineers bringing a global perspective that will help us execute a more robust product roadmap and support our growth strategy of delivering best-in-class content. This transaction strengthens Everi’s development capabilities and will further bolster the future expansion and differentiation of our gaming products. We expect to leverage the Atlas development team and purchased assets to provide more original content for our current customer base while creating an opportunity to further penetrate the markets Atlas has historically served, including Australia.”
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” as defined in the U.S. Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements often contain words such as “intends,” “anticipates,” “seek,” “expect,” “plan,” “believe,” “goal,” “target,” “future,” “estimate,” “may,” “should,” “to leverage,” “well positioned” or “will” and similar expressions to identify forward-looking statements.
The forward-looking statements in this press release are subject to additional risks and uncertainties, including those set forth under the heading “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our filings with the Securities and Exchange Commission (the “SEC”), including, without limitation, our Annual Report on Form 10-K for the fiscal year ended December 31, 2020 filed with the SEC on March 15, 2021 and subsequent periodic reports, and are based on information available to us on the date hereof.
These cautionary statements qualify our forward-looking statements, and you are cautioned not to place undue reliance on these forward-looking statements. Any forward-looking statement contained herein speaks only as of the date on which it is made, and we do not intend, and assume no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
This press release should be read in conjunction with our most recent reports on Form 10‑K and Form 10‑Q, and the information included in our other filings with the SEC. Understanding the information contained in these filings is important in order to fully understand our reported financial results and our business outlook for future periods.
About Everi
Everi’s mission is to lead the gaming industry through the power of people, imagination and technology. With a focus on player engagement and helping casino customers operate more efficiently, the Company develops entertaining game content and gaming machines, gaming systems, and services for land-based and iGaming operators. The Company is also a preeminent and comprehensive provider of trusted financial technology solutions that power the casino floor while improving operational efficiencies and fulfilling regulatory compliance requirements, including products and services that facilitate convenient and secure cash and cashless financial transactions, self-service player loyalty tools and applications, and regulatory and intelligence software. For more information, please visit www.everi.com, which is updated regularly with financial and other information about the Company.
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FAQ
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