Everi and Penn National Gaming to Launch Digital CashClub Wallet® Technology at Penn National Casinos

Rhea-AI Summary

Everi Holdings has announced the launch of its CashClub Wallet® technology at Penn National Gaming's Hollywood Casino York in Pennsylvania. This digital wallet enables cashless transactions, allowing guests to deposit funds via debit or credit cards and access them directly at gaming machines. The partnership includes plans for broader implementation across Penn National's properties pending regulatory approval. The technology aims to enhance guest convenience and operational efficiency while integrating with Penn National's mychoice loyalty program.

Positive

• Launch of CashClub Wallet technology at Penn National's Hollywood Casino York.
• Enhances cashless transaction capability, increasing guest convenience.
• Supports integration with mychoice player loyalty program.

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• None.

LAS VEGAS, Aug. 12, 2021 /PRNewswire/ -- 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 the Company's digital CashClub Wallet® technology is powering Penn National Gaming, Inc.'s (Nasdaq: PENN) ("Penn National") new mychoice Wallet at Hollywood Casino York in Pennsylvania, following previous installations at Hollywood Casino at Penn National Race Course and the Meadows Racetrack & Casino in Pennsylvania. The new mychoice Wallet provides Penn National's guests with a secure, convenient cashless payment method on the casino floor, and this installation is part of an agreement that will see mychoice Wallet introduced at Penn National's casino properties pending appropriate regulatory approvals.

Everi's CashClub Wallet is a mobile digital wallet that enables casino operators to offer cashless and contactless funding of electronic game play across the casino floor. Penn National's mychoice Wallet, powered by Everi, will allow guests to deposit funds into their digital wallet at their convenience — at any time or anywhere, including before arriving at the property or while at the property via a debit card, credit card or directly from their bank account. Guests can then access these funds for use directly at the game, creating a fully cashless, contactless environment that leverages the guest's mobile device. On the casino floor, mychoice Wallet will interface with the Foundation™ casino management system from Acres Manufacturing, which provides for direct interaction with all of the slot machines and table games, while also providing instantaneous sharing of slot player data across Penn National's casinos.

At the conclusion of game play, CashClub Wallet technology enables guests to move funds back into their digital wallet where they can be held for future use or electronically sent back into a bank account. Players can store multiple payment methods and easily move funds in and out of the casino. Everi's CashClub Wallet technology supports responsible gaming through spending limit management.

"The implementation of mychoice Wallet at our casino properties is an important step in our ongoing initiative to deploy a new generation of cashless, cardless and contactless technologies (the 3Cs) to improve guest service and operational efficiency," said Todd George, Executive Vice President of Operations at Penn National. "By eliminating transactional friction, we can provide our guests with the convenience and experience they get across many other consumer-facing industries, which have already adopted similar funding technologies. Through its integration with our mychoice player loyalty program, mychoice Wallet will also help us further extend our connection with our guests."

"Penn National has deployed our financial technology solutions, including our financial access services solutions, for many years and we are delighted to expand our relationship by providing our CashClub Wallet technology to support the rollout of mychoice Wallet across their nationwide casino footprint," said Darren Simmons, Executive Vice President and FinTech Business Leader for Everi. "Penn National's thoughtful approach and rapid rollout of this digital technology is an excellent example of the industry leadership position they are taking to provide their guests with more options and convenience, resulting in a more enjoyable gaming experience on their casino floors. mychoice Wallet will provide Penn National's guests with a new funding choice that gives them the same ability, comfort and convenience to load, retrieve and unload funds that they experience with other non-gaming, digital wallet applications."

About Everi

Everi's mission is to lead the gaming industry through the power of people, imagination and technology. Focused on player engagement and assisting our casino customers to 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 the preeminent 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.       

About Penn National Gaming

With the nation's largest and most diversified regional gaming footprint, including 43 properties across 20 states, Penn National continues to evolve into a highly innovative omni-channel provider of retail and online gaming, live racing and sports betting entertainment. The Company's properties feature approximately 50,000 gaming machines, 1,300 table games and 8,800 hotel rooms, and operate under various well-known brands, including Hollywood, Ameristar, and L'Auberge. Our wholly-owned interactive division, Penn Interactive, operates retail sports betting across the Company's portfolio, as well as online social casino, bingo, and iCasino products. In February 2020, Penn National entered into a strategic partnership with Barstool Sports, whereby Barstool is exclusively promoting the Company's land-based and online casinos and sports betting products, including the Barstool Sportsbook mobile app, to its national audience. The Company's omni-channel approach is bolstered by the mychoice loyalty program, which rewards and recognizes its over 20 million members for their loyalty to both retail and online gaming and sports betting products with the most dynamic set of offers, experiences, and service levels in the industry.

Contact:

For Everi:

Media Relations
Dona Cassese
Vice President, Marketing 
(702) 556-7133 or dona.cassese@everi.com

Investor Relations
William Pfund
Senior Vice President, Investor Relations
(702) 676-9513 or william.pfund@everi.com  

JCIR
Richard Land, James Leahy
(212) 835-8500 or evri@jcir.com  

Join Everi on Social Media
Twitter:  https://twitter.com/everi_inc 
LinkedIn:  https://www.linkedin.com/company/everi 
Facebook:  https://www.facebook.com/EveriHoldingsInc/ 
Instagram:  https://www.instagram.com/everi_inc 

For Penn:

Justin Sebastiano
Senior Vice President, Finance & Treasurer
Penn National Gaming, Inc.
(610) 373-2400

Joseph N. Jaffoni
JCIR  
(212) 835-8500 or penn@jcir.com 

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SOURCE Everi Holdings Inc.

FAQ

What is the CashClub Wallet technology launched by Everi?

CashClub Wallet is a digital wallet that enables cashless transactions at casinos, allowing guests to deposit and withdraw funds easily.

When was the CashClub Wallet technology announced for Penn National Gaming?

The announcement was made on August 12, 2021.

Which Penn National Gaming property is the CashClub Wallet technology first introduced?

The technology was first introduced at Hollywood Casino York in Pennsylvania.

How does the CashClub Wallet enhance the gaming experience?

It allows for cashless transactions, enabling guests to deposit and use funds conveniently on the gaming floor.

What is the potential impact of CashClub Wallet on Everi's stock (EVRI)?

The introduction of CashClub Wallet could drive operational efficiency and enhance customer engagement, potentially benefiting Everi's stock performance.

What is the significance of the partnership between Everi and Penn National Gaming?

The partnership expands Everi's digital solutions across Penn National’s casino properties, enhancing transaction capabilities for guests.