EVERI HOLDINGS Announces Acquisition of Video King Assets for $59M
April 13, 2023
Trending News ☀️
EVERI HOLDINGS ($NYSE:EVRI), Inc. (NYSE: EVRI) has announced a definitive agreement to acquire assets from Video King, a leading provider of technology solutions for the gaming, entertainment and hospitality industries, for $59 Million. EVERI HOLDINGS is a leading provider of technology solutions for the gaming industry. It provides games, financial technology, and payments services to casinos, tribal gaming operators, and other gaming venues throughout North America. EVERI’s products and services include cash access solutions, cashless systems, gaming operations and marketing systems.
The company also provides payment technology solutions for the hospitality, retail, and restaurant industries. The acquisition of Video King’s assets is expected to further strengthen EVERI’s position in the gaming industry.
Share Price
This news caused the stock to open at $16.3 and close at $16.6, a 2.7% rise compared to the previous day’s closing price of 16.1. This acquisition has been seen as a positive move for the company and the market reacted accordingly. EVERI HOLDINGS will now be able to benefit from Video King’s expertise in gaming equipment and supplies, which will help to improve their current offerings.
Additionally, EVERI HOLDINGS will gain access to Video King’s impressive customer base, which could generate additional revenue. The agreement also includes a long-term supply agreement that will strengthen EVERI HOLDINGS’ presence in the gaming industry. This acquisition is expected to bring in more profits for the company in the long-term, making it a shrewd move for EVERI HOLDINGS. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Everi Holdings. More…
| Total Revenues | Net Income | Net Margin |
| 782.52 | 120.49 | 15.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Everi Holdings. More…
| Operations | Investing | Financing |
| 272.64 | -179.34 | -100.57 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Everi Holdings. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.92k | 1.7k | 2.47 |
Key Ratios Snapshot
Some of the financial key ratios for Everi Holdings are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 13.6% | 31.4% | 27.3% |
| FCF Margin | ROE | ROA |
| 18.5% | 61.1% | 7.0% |
Analysis
We at GoodWhale recently conducted an analysis of EVERI HOLDINGS. The results of our investigation revealed that, based on our Risk Rating, EVERI HOLDINGS is a high risk investment in terms of both financial and business aspects. In addition, our analysis detected two risk warnings in the income sheet and balance sheet of EVERI HOLDINGS. If you would like to explore these risk warnings further, please register with us. We would be happy to provide you with more detailed information about EVERI HOLDINGS and their current risk profile. More…
Peers
Its competitors include Galaxy Gaming Inc, Inspired Entertainment Inc, Four Corners Inc. Everi Holdings Inc operates in the US, Europe, and Asia Pacific.
– Galaxy Gaming Inc ($OTCPK:GLXZ)
Galaxy Gaming Inc is a gaming company that operates in the casino industry. It designs, develops, and manufactures casino table games and gaming equipment. The company has a market cap of 61.85M as of 2022 and a Return on Equity of -17.14%. Galaxy Gaming is headquartered in Las Vegas, Nevada.
– Inspired Entertainment Inc ($NASDAQ:INSE)
Inspired Entertainment is a global games technology company that provides virtual sports, mobile gaming and server-based gaming systems for regulated markets. The company’s products are available in over 35,000 retail locations and online sites in over 40 countries. The company has a market cap of 308.85M as of 2022 and a Return on Equity of -51.07%.
– Four Corners Inc ($OTCPK:FCNE)
Four Corners Inc is a publicly traded company that owns and operates a chain of casual dining restaurants. The company was founded in 1988 and is headquartered in Houston, Texas. As of 2022, Four Corners Inc had a market capitalization of 10.79 million and a return on equity of -21.68%. The company’s primary business is operating and franchising casual dining restaurants under the Four Corners name. The company operates or franchises over 60 restaurants in 10 states across the United States.
Summary
EVERI HOLDINGS, Inc. is a leading provider of gaming solutions for the casino industry. The company recently announced that it has entered into an agreement to acquire Video King, a provider of gaming products, systems and services, for an aggregate purchase price of $59 million. The deal is expected to be accretive to the company’s financials, with the purchase adding to earnings in the first full year following the transaction close.
EVERI has stated that the acquisition will enable it to expand its gaming solutions portfolio, optimize cost structure and gain access to additional customer relationships. This strategic move is also expected to be beneficial to the company’s long-term growth prospects as it looks to capitalize on the increasing demand for gaming products and services.
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