Latest Gaming News
AGT now expects, subject to audit finalisation, the Profit before Tax for the second half of FY21 (2HFY21), excluding one-off items and currency translations, will be approximately $1.6 million – refer to reconciliation provided below. This compares to the estimated Profit before Tax of approximately $1 million announced on 18 May.
Revenue for 2HFY21 is expected to be around $88 million, compared to $72 million in the first half of FY21, an increase of 22%. AGT’s underlying EBITDA for 2HFY21, excluding any one-off items and currency translations, is expected to be around $14.4 million, compared to the $13.2 million previously advised in May.
Australia revenue contribution was $20 million in 2HFY21, resulting in total revenue for FY21 of $39 million, an increase of 39% over the $28 million in the Prior Corresponding Period (PCP) in FY20. Further extended lockdowns across New South Wales and other states within Australia have created an element of uncertainty and risk associated with the timing of when operations across domestic markets will resume.
Given these potential risks, it was considered prudent to embed additional risks in our forecast cashflows when assessing asset values in the Australian and Other (comprising of Rest of World) and Latin America Cash Generating Units (CGU’s). These additional risks may not eventuate, however considering the detrimental impact the Delta variant of COVID-19 is having on society and the consequential restrictions governments are imposing on our customers, it was considered prudent to further risk adjust the forecast cashflows for these CGU’s. As a result, AGT will record an additional non-cash impairment charge in 2HFY21 of $10.3 million against the value of these assets in the FY21 audited results.
The key market of North America has continued to perform strongly in the period with total revenue in FY21 of $88 million, an increase of 22% on the $72 million in the PCP. Additional opportunities are being pursued for AGT’s leading Historical Horse Racing (HHR) products in new jurisdictions following the passing of new legislation.
In addition, a cash sale to Kentucky Downs of 400 HHR units previously operating under participation was recently completed in July 2021. The sale provides for on-going revenue connection fees continuing into FY22. The blended Average Selling Price on this sale was above our average for the region and represented a mixture of hardware configurations including a portion of the newly released A-Star curve cabinets.
AGT further advises that strong cash flows in the second half, along with the effective management of operational expenses, resulted in cash held as at the reporting date of $42 million, an increase of 56% over the PCP. The cash balance excludes any contribution from the previously announced exclusive agreement with GAN Limited, where an initial USD5.0 million was received in early July 2021.
AGT expects to release FY21 full year audited results after close on Thursday 26 August 2021.
This announcement was authorised for lodgement by the Board of Directors.
Full release: https://www.agtslots.com/assets/ASX-Release---Draft-FY21-Financial-Results_Final-.pdf.
Caesars online players now have the chance to play Ainsworth titles that have been proven performers in both land-based and online casinos. Titles available include the popular QuickSpin brand of wheel games and long-time player favorite High Denomination titles.
Additional games will be regularly added to the sites, ensuring players always have access to the hottest games and innovative play styles.
“We’re honored to be partnering with a prestigious operator like Caesars,” said Ainsworth General Manager – Online Jason Lim. “This launch furthers our presence in the New Jersey market, and we’re thrilled to be live with our latest games on the Caesars sites. We are confident the tremendous math models and fun play mechanics will be successful and provide an entertaining experience for Caesars players.”
The registration means that, effective immediately, GLI is authorized to test and certify iGaming components such as games, random number generator (RNGs) platforms/RGS, and cybersecurity, GLI’s services will help to ensure an efficient and timely commencement of operations in the regulated market.
The AGCO and the province will leverage the benefits of GLI’s 30+ years of international experience in iGaming testing, certification, and consultation. Today, GLI is the only lab working with all existing and emerging jurisdictions worldwide, giving GLI unparalleled expertise and insight to help AGCO, AGCO-registered operators, and/or gaming-related suppliers successfully navigate the exciting opportunities in Ontario for iGaming.
In addition to Ontario, GLI has helped all other Canadian provinces currently online with their technical standards and/or mission-critical online gaming testing deployments to date, including the Province of Alberta’s most recent online portal’s launch.
“It is extremely exciting to see the future of the iGaming landscape emerge in Ontario. GLI is proud to be a part of it and honored to have been registered as an authorized test lab by the AGCO,” said GLI CEO James Maida. “We’re always preparing for what’s next- land-based, digital, or both, with experts on the ground around the world. As the pioneer in iGaming and sportsbook testing and certification, we know we will have much to offer, and our global professionals are ready to help in ways no one else can.”
In addition to formal testing and certification work on behalf of the AGCO, GLI is ready to provide other valuable assistance to interested operators and suppliers, such as pre-certification testing, jurisdictional consultation, and regulatory advisory support to help them clearly understand the AGCO Registrar’s Standards for Internet Gaming. GLI also provides a full suite of critical integrated services including GAP Analyses and Transfers of Approval, educational services for iGaming or sports betting compliance, workshops, and many other forms of emerging market support and consultancy.
“Beyond wanting the AGCO and province of Ontario to greatly benefit, we also want operators and suppliers to be commercially successful, all while maintaining the highest levels of integrity in compliance. Our technical and regulatory compliance teams are ready to test, consult and advise on best practices to achieve that,” said Salim L. Adatia, Vice President of Client Services for North America.
To learn more about GLI’s tailored support in all areas of compliance, visit gaminglabs.com/services.
LAS VEGAS, August 5, 2021 - AGS (NYSE: AGS) ("AGS", "us", "we" or the "Company") today reported operating results for its second quarter ended June 30, 2021.
Second Quarter 2021 Highlights:
• Net Loss Improved to $3.9 Million Compared to $7.8 Million in Q1 2021
• Adjusted EBITDA Totaled $32.1 Million, Up More than 20% Over Q1 2021
• Domestic EGM RPD and Domestic Gaming Operations Revenue Established New Company Records
• Orion Starwall Footprint Grew to over 520 Games at Quarter End
• Table Products Adjusted EBITDA Reached a New Quarterly Record of $1.4 Million
• Interactive Real Money Gaming Revenue More than Doubled to a Record $2.2 Million
• Generated Over $14 Million of Free Cash Flow YTD; Nearly $120 Million of Available Liquidity as of June 30, 2021
• Reduced Net Leverage to 5.0x as of June 30, 2021 from 7.5x at December 31, 2020
AGS President and Chief Executive Officer David Lopez said, "We were able to leverage our over 15,000 unit domestic EGM installed base, our growing premium game footprint, and the revenue strength witnessed throughout the domestic gaming market to establish new Company records in both domestic EGM revenue per day ("RPD") and domestic EGM gaming operations revenue in the second quarter. Looking ahead, our improved execution and accelerating product momentum across all three of our business segments position us to deliver additional growth and share taking in the coming quarters."
Kimo Akiona, AGS' Chief Financial Officer, added, "The continuous improvement being achieved as a result of our enhanced game content development execution, upgraded product management capabilities, and refined capital deployment processes, sets us on a path to deliver more consistent financial performance, improving our capital returns and leverage profile, and, most importantly, strengthening shareholder value over time."
The complete quarterly report and presentation are at http://investors.playags.com/financial-information/quarterly-results/default.aspx.
Konami Casino Management System to Support Everi's Cashless Funding and Payment Solution
LAS VEGAS, Aug. 5, 2021 /PRNewswire/ -- Konami Gaming, Inc. and Everi Holdings Inc. (NYSE: EVRI) today announced a partnership to integrate SYNKROS® with Everi's digital CashClub Wallet®. The integration of Konami's award-winning casino management system (CMS) with CashClub Wallet® merges Konami's reputation for high system reliability with Everi's industry leading solutions in cashless payments.
Through this partnership, Konami will offer Everi's flexible, cost-effective, funding and payment solution to operators that utilize Konami's advanced casino management system. SYNKROS empowers operators to capture and compile data through all connected areas of the property — gaming and non-gaming — to generate a 360-degree patron view. This includes marketing, slots, tables, analytics, cage, credit, vault and other interfaced resort amenities.
As one of the industry's leading player tracking systems, SYNKROS is best known for its reliability, marketing tools, and robust data. SYNKROS reaches a wide range of property types — everything from large destination properties to cruise ships, to local casino stops, and entire multi-property portfolios.
"SYNKROS is designed to empower casinos to grow and leverage the latest technology available, through its robust, dependable, and scalable architecture," said Tom Jingoli, Konami Gaming, Inc. Executive Vice President & Chief Operating Officer. "This integration with Everi's cashless solution offers a highly dependable, hassle-free cashless experience for both player and operator."
Working in conjunction with Konami's Money Klip™ — which delivers seamless cashless play at slots and tables — Everi's CashClub Wallet is an omni channel digital wallet that enables casino operators to offer cashless and contactless funding and withdrawals in and out of Money Klip on the gaming floor as well as at other resort amenities. CashClub Wallet empowers casino operators to successfully deliver on all aspects of the emerging mobile ecosystem, including funding at the gaming device, payments at point of sale, or funding online sports betting, iGaming or social gaming — a true cashless experience all while preserving existing options, channels, preferences, and features valued by customer segments.
"The partnership with Konami gives us the opportunity to support the SYNKROS CMS solution with our industry-leading CashClub wallet technology," said Darren Simmons, Executive Vice President and FinTech Business Leader for Everi. "We enhance the player experience by bringing customer-centric features to loyalty, payments, and cage and cash operations. For operators, this partnership creates measurable efficiencies while extending engagement between casinos and their patrons across the gaming environment."
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 Konami Gaming, Inc.
Konami Gaming, Inc. is a Las Vegas-based subsidiary of KONAMI HOLDINGS CORPORATION (TSE: 9766). The company is a leading designer and manufacturer of slot machines and casino management systems for the global gaming market. For more information about Konami Gaming, Inc. or the SYNKROS gaming enterprise management system, please visit www.konamigaming.com.
Broad-based Strength in Games and FinTech Segment Operating Performance
Provides Full Year 2021 Guidance, including Net Income of $87 Million to $95 Million and
Adjusted EBITDA of $332 Million to $342 Million
Las Vegas – August 4, 2021 - 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 loyaltysolutions, today reported record financial results for the second quarter ended June 30, 2021. The 2021second quarter revenue, net income, Adjusted EBITDA and Free Cash Flow are all slightly above therespective ranges the Company provided on June 21, 2021. The results are a quarterly sequential improvement from the 2021 first quarter, reflecting continued strength in casino patron demand, while stillreflecting an ongoing, but reduced, impact of the COVID-19 pandemic.
Second Quarter 2021 Financial Highlights Compared to the Second Quarter 2019
Because second quarter 2020 financial results were severely impacted by casino closures related to the COVID-19 pandemic, the Company believes it is more meaningful to compare 2021 second quarter results to those of the 2019 second quarter. Financial results for the 2021, 2020 and 2019 second quarter periods are presented in the Consolidated, Games and Financial Technology Solutions highlight tables below.
• Revenues rose 33% to a quarterly record $172.6 million, compared to $129.7 million in the
2019 second quarter.
• Net income improved 560% to a quarterly record $36.2 million, or $0.36 per diluted share,
compared to $5.5 million, or $0.07 per diluted share, in the 2019 second quarter.
• Adjusted EBITDA, a non-GAAP financial measure, increased 44% to a quarterly record $92.5
million, compared to $64.1 million in the 2019 second quarter.
• Free Cash Flow, a non-GAAP financial measure, increased 462% to $39.2 million, compared
to $7.0 million in the 2019 second quarter.
• Revenue, net income, Adjusted EBITDA and Free Cash Flow are all slightly above the
respective ranges the Company provided on June 21, 2021.
• Subsequent to quarter-end, completed a successful refinancing that reduced total debt to
$1.0 billion, decreased cash interest costs and extended maturities.
Michael Rumbolz, Chief Executive Officer of Everi, said, “The record 2021 second quarter results reflect
the substantial benefit of our execution of our ongoing growth initiatives, as well as improvement in industry trends. The strong momentum to-date this year in revenues, earnings and cash flow is being driven by consistent improvements in our Games and FinTech segment operating performance, demonstrating yet again the substantial demand that exists for our high-value products.
"A key highlight of our significant growth compared to pre-pandemic periods is the strength of our recurring revenue streams, which comprise an increased percentage of our overall business mix. This revenue is a significant contributor to our growing Free Cash Flow, which in turn has allowed us to dramatically lower our net leverage,” added Rumbolz. “Accordingly, we are favorably positioned to prudently invest in both internal product innovation and complementary, high-return, accretive acquisitions that will support our future growth.”
Mark Labay, Chief Financial Officer of Everi, said, “Our improved performance positioned us to obtain a
strong response from the capital markets for our recent debt refinancing, including credit rating agency upgrades of all our newly issued debt instruments. This resulted in lower borrowing rates and extended debt maturities. Upon completion of this successful refinancing, at current interest rates our annualized cash interest costs will now be approximately $23 million less than at June 30, 2021. We expect our lower annual interest will contribute to the sustainability and further growth of our Free Cash Flow.”
(1) Operating loss, net loss, and net loss per diluted share for the three months ended June 30, 2020, included $14.8 million of pre-tax charges, including $11.0 million of business reorganization costs, $2.7 million of employee severance costs, $0.6 million non-recurring professional fees, and $0.5 million in other one-time charges. Operating income, net income and net earnings per diluted share for the three months ended June 30, 2019 included approximately $0.8 million for certain non-recurring professional fees and related costs and expenses associated with the acquisition of certain player loyalty assets and a non-cash charge of $0.8 million for the write-off of inventory related to certain legacy cabinets.
(2) In December 2019, the Company completed a public offering of 11.5 million shares of common stock. Weighted average basic shares outstanding were 88.7 million, 85.1 million, and 71.5 million shares for the periods ended June 30, 2021, 2020, and 2019, respectively.
(3) For a reconciliation of net income (loss) to Adjusted EBITDA and Free Cash Flow, see the Unaudited Reconciliation of Selected Financial GAAP to Non-GAAP Measures provided at the end of this release.
(4) Subsequent to quarter-end, the Company reduced its total outstanding debt to $1.0 billion through the successful issuance of $400 million of 5.000% senior unsecured notes due 2029 and $600 million of senior secured term loan at a rate of LIBOR plus 250 basis points with a LIBOR floor of 50 basis points due 2028, along with a $125 million revolving credit facility that is currently undrawn. In completing the transactions on August 3, 2021, the Company used cash on hand to pay the transaction fees and expenses and reduce the total debt by $144.6 million from the June 30, 2021 reported amount.
(5) For a reconciliation of Net Cash Position to Cash and Cash Equivalents, see the Unaudited Reconciliation of Cash and Cash Equivalents to Net Cash Position and Net Cash Available at the end of this release.
Second Quarter 2021 Results Overview
Results for the three-month period ended June 30, 2021 reflect the continued, albeit lesser, impact of the COVID-19 pandemic. Results for the 2020 second quarter reflect the impact of the COVID-19 pandemic and results for the 2019 second quarter were unimpacted by the pandemic.
Randy Taylor, Everi’s Chief Operating Officer, said, “Our record quarterly revenue was up 33% over the pre-COVID 2019 second quarter, primarily driven by the strength in our recurring revenue operations in both our Games and FinTech segments. Our Games segment momentum reflects the continued growth in our installed base of gaming operations units, particularly increased placements of our higher-earning premium units that drove the increase in daily win per unit. In addition, slot machine sales increased by 49% sequentially from the 2021 first quarter, reflecting what we believe is another quarter of higher ship share of replacement units. Second quarter unit sales also benefited from a larger share of shipments to new casino openings and expansions than we have historically achieved together with a greater number of new casino openings and expansions than typically experienced in a quarter.
“Our FinTech segment continues to benefit from our comprehensive, integrated financial access services and RegTech software solutions, as well as our newer loyalty products such as our updated and upgraded self-service loyalty kiosks. Our strong FinTech industry position enables Everi to benefit from the widespread increase in casino player activity, which drove mid-teens percentage growth in the number of financial access transactions we processed as compared to 2019 second quarter volumes; a rate that was significantly above our historical rate of growth.
“The operating performance of our two segments, together with a continued focus on operating expenses, led to net income of $36.2 million, or $0.36 per diluted share, record quarterly Adjusted EBITDA of $92.5 million, up more than 40% over the comparable 2019 period, and Free Cash Flow generation of $39.2 million.
“Additionally, we continue to see a high level of interest by casino operators in our cashless digital wallet solution and our iGaming slot content. These are two important growth initiatives in which we’ve invested over a number of years given our expectation that they can both be additive to our core business momentum in the near- and long-term.”
(1) Operating loss for the three months ended June 30, 2020, included $11.3 million of pre-tax charges, including $9.2 million of business reorganization costs, $1.6 million of employee severance costs and $0.5 million of other one-time charges. Operating income for the three months ended June 30, 2019 included approximately $0.3 million for certain nonrecurring professional fees and related costs and a non-cash charge of $0.8 million for the write-off of inventory related to certain legacy cabinets.
(2) For a reconciliation of net income (loss) to Adjusted EBITDA, see the Unaudited Reconciliation of Selected Financial GAAP to Non-GAAP measures provided at the end of this release.
(3) Daily win per unit reflects the total of all units installed at casinos, inclusive of closed casinos and inactive units, where such units would have recorded no revenue and excludes the impact of the direct costs associated with the Company’s wide-area progressive jackpot expense.
(4) The ending and average installed base for all three periods includes all units, whether or not casinos were open and whether or not the games were active.
2021 Second Quarter Games Segment Highlights
Games segment revenues increased to a quarterly record $99.3 million compared to $20.9 million in the 2020 second quarter and was up 43% over the $69.4 million in the 2019 second quarter. This reflects strong gaming operations performance as well as higher shipments of gaming machines.
Operating income increased to $30.6 million, compared to an operating loss of $41.8 million a year ago and operating income of $2.6 million in the second quarter of 2019. The increase in the 2021 second quarter operating income over the prior-year periods reflects the benefit of higher revenues, a greater 5 proportion of higher-margin gaming operations revenue in the overall mix, the Company’s cost containment efforts, and lower amortization. Adjusted EBITDA increased to a quarterly record $60.4 million, from $3.0 million and $34.7 million in the second quarter of 2020 and 2019, respectively.
Gaming operations revenue grew to a quarterly record $73.2 million, compared to $13.9 million and $45.6 million in the second quarter of 2020 and 2019, respectively.
• Reflecting the player popularity of the latest games and the growth in higher-earning premium unit placements, Daily Win per Unit (“DWPU”) rose to a quarterly record $45.66 in the second quarter of 2021, compared to $9.84 and $32.26 in the second quarter of 2020 and 2019, respectively.
• The installed base as of June 30, 2021 increased by 9%, or 1,313 units, year over year and by 302 units on a quarterly sequential basis to a record 16,251 units. • The premium portion of the installed base increased by 20%, or 1,165 units, year over year and by 264 units on a quarterly sequential basis to 6,961 units. Growth was driven primarily by incremental placements of the strong-performing The Vault™ game theme and premium mechanical reel games, as well as the continued solid performance of other themes including Smokin' Hot Stuff Wicked Wheel® and Shark Week®. Premium units represented 43% of the total installed base at quarter-end compared to 39% a year ago and 25% as of June 30, 2019. Wide-area progressive (“WAP”) units, a subcategory of premium units, grew by 114 units year over year to 1,082 units as of June 30, 2021, partly reflecting the launch of the new Monsterverse™ game on the Empire DCX® cabinet and the installation of the first WAP into commercial casinos in Nevada and New Jersey.
• Digital revenue more than doubled to $3.6 million in the second quarter of 2021 compared to $1.5 million a year ago and increased 50% on a quarterly sequential basis, partially reflecting a full quarter of revenue from Michigan. Digital revenue growth also reflects increased B2B revenue from the expanded base of iGaming operator sites featuring the Company’s games – including in West Virginia, British Columbia and Manitoba that went live during the quarter – along with a growing library of available slot content.
• Revenues from the New York Lottery system business were $6.3 million in the second quarter of 2021, compared to $4.9 million in the second quarter 2019. There was no revenue in the second quarter of 2020 due to the impact of the COVID-19 pandemic.
Gaming equipment and systems revenues generated from the sale of gaming units and other related parts and equipment totaled $26.1 million in the second quarter of 2021, compared to $7.0 million and $23.4 million in the second quarter of 2020 and 2019, respectively.
• The Company sold 1,402 units, including several hundred units for new casino openings and expansions, at an average selling price (“ASP”) of $17,894 in the second quarter of 2021. This is an increase compared with 381 units at an ASP of $18,044 in the second quarter of 2020 and 1,270 units at an ASP of $17,338 in the second quarter of 2019.
* Rounding may cause variances.
(1) Operating loss for the three-month period ended June 30, 2020, included $3.5 million of pre-tax charges, including $1.8 million of business reorganization costs, $1.1 million of employee severance costs and $0.6 million of non-recurring professional fees. Operating income for the three months ended June 30, 2019 included the impact of approximately $0.5 million for certain non-recurring professional fees and related costs and certain expenses associated with the acquisition of certain player loyalty assets.
(2) For a reconciliation of net income (loss) to Adjusted EBITDA, see the Unaudited Reconciliation of Selected Financial GAAP to Non-GAAP Measures provided at the end of this release.
2021 Second Quarter Financial Technology Solutions Segment Highlights
FinTech revenues for the 2021 second quarter increased to a record $73.2 million, compared to $17.8 million in the 2020 second quarter and were up 21% over the $60.3 million in the 2019 second quarter. The growth over both years reflects an increase in revenues from financial access services, lower-margin hardware sales and software and other.
Operating income in the 2021 second quarter rose to $23.8 million, compared to an operating loss of $10.9 million a year ago and operating income of $22.3 million in the 2019 second quarter. The increase primarily reflects the benefit of higher revenues partially offset by an increase in research and development expense as a result of an acceleration of new product development efforts, including development of new and enhanced loyalty products and the Company’s CashClub Wallet® digital technology offering. Adjusted EBITDA was $32.1 million, compared to $0.3 million and $29.4 million in the second quarter of 2020 and 2019, respectively.
• Financial access services revenues, which include both cashless and cash dispensing debit and credit card transactions and check services, increased 16% on a quarterly sequential basis to $44.8 million, reflecting continued improvements in casino activity, and grew 13% from the second quarter of 2019.
• Throughout the 2021 second quarter, growth in transactional activity on a same-store basis was up at a consistent mid-teens rate compared to the second quarter of 2019.
• Software and other revenues, which include loyalty and regulatory compliance (RegTech) software, product subscriptions, kiosk maintenance services, and other revenue, were $15.6 million, of which approximately 80% were of a recurring nature. This compares to total revenue of $4.4 million in the second quarter of 2020, of which 79% were of a recurring nature, and $12.8 million in the second quarter of 2019, of which 66% were of a recurring nature.
• Hardware sales revenues were $12.8 million, inclusive of significant shipments of self-service kiosks and other loyalty and financial access equipment for new casino openings and major expansions, in the second quarter of 2021, compared to $3.4 million and $7.8 million in the second quarter of 2020 and 2019, respectively.
Balance Sheet and Liquidity
• Subsequent to the 2021 second quarter-end, the Company entered into a series of refinancing transactions that reduced interest cost, extended debt maturities and resulted in $1.0 billion of total indebtedness. The new total debt comprises $600.0 million of senior secured term loan priced at LIBOR plus 2.50% with a LIBOR Floor of 50 basis points due 2028, $400.0 million of 5.000% senior unsecured notes due 2029, and a $125.0 million revolving credit facility due 2026 which is undrawn. At current market interest rates, the refinancing resulted in annual cash interest savings of approximately $23 million compared to June 30, 2021.
• As of June 30, 2021, the Company had $340.4 million of cash and cash equivalents. Pro forma for the debt repayment, early redemption fees and transaction costs of the refinancing transactions completed in the third quarter, the Company had cash and cash equivalents of $155.1 million. • In the 2021 second quarter, the Company paid $9.9 million in total earned contingent consideration for its 2019 acquisition of certain assets of Atrient and paid the remaining $5.0 million purchase price installment related to the 2019 acquisition of certain assets of Micro Gaming Technology.
Outlook
With industry conditions stabilizing, and assuming that conditions continue to trend without additional setbacks due to pandemic or other macro-economic effects, Everi is providing annual guidance of selected expected financial results, a practice consistent with its custom prior to the onset of the COVID-19 pandemic in 2020. For the full year 2021, the Company expects revenue of $615 million to $635 million, net income of $87 million to $95 million, Adjusted EBITDA of $332 million to $342 million, and Free Cash Flow of $168 million to $177 million. Factors considered in Everi’s 2021 outlook include:
• Capital expenditures (inclusive of placement fees) will be $105 million to $113 million;
• The Company expects to incur a loss on extinguishment of debt of approximately $32 million to $35 million in the 2021 third quarter, in conjunction with the early redemption of its 7.50% senior unsecured notes due 2025, the repayment of the incremental term loan and the refinancing of its senior secured credit facility due 2024, including the revolving credit facility due 2022. 8 Approximately $11 million to $14 million is expected to be non-cash related to the write-off of existing debt issuance costs and unamortized discount on the existing borrowings; and
• Shipments for new casino openings and expansions in the 2021 second half are expected to be lower, reflecting fewer new opening and expansions compared to the first half of 2021.
• Assumes no significant change or reversal of the Company's deferred tax asset valuation allowances during the year.
• The Company’s 2021 full year outlook does not contemplate any additional meaningful potential impact from any macroeconomic or pandemic-related setback; but does reflect the likelihood of receding government stimulus benefits and an increase in pressure on consumer discretionary spending. A summary and reconciliation of the financial targets is included as a supplemental table at the end of this release.
Investor Conference Call and Webcast
The call will be archived on www.everi.com (select “Investors” followed by “Events & Contact”).
Non-GAAP Financial Information
In order to enhance investor understanding of the underlying trends in our business, our cash balance, and cash available for our operating needs, and to provide for better comparability between periods in different years, we are providing in this press release Adjusted EBITDA, Free Cash Flow, Net Cash Position and Net Cash Available, which are not measures of our financial performance or position under United States Generally Accepted Accounting Principles (“GAAP”). Accordingly, Adjusted EBITDA, and Free Cash Flow should not be considered in isolation or as a substitute for measures prepared in accordance with GAAP. These measures should be read in conjunction with our net earnings, operating income, and cash flow data prepared in accordance with GAAP. With respect to Net Cash Position and Net Cash Available, these measures should be read in conjunction with cash and cash equivalents prepared in accordance with GAAP.
We define Adjusted EBITDA as earnings (loss) before interest, taxes, depreciation and amortization, loss on extinguishment of debt, non-cash stock compensation expense, accretion of contract rights, write-down of inventory, property and equipment and intangible assets, employee severance costs and other related expenses, litigation settlement received net of legal costs, foreign exchange loss, asset acquisition expense, non-recurring professional fees, and one-time charges. We present Adjusted EBITDA, as we use this measure to manage our business and consider this measure to be supplemental to our operating performance. We also make certain compensation decisions based, in part, on our operating performance, as measured by Adjusted EBITDA; and our current credit facility and existing senior unsecured notes require us to comply with a consolidated secured leverage ratio that includes performance metrics substantially similar to Adjusted EBITDA.
We define Free Cash Flow as Adjusted EBITDA less cash paid for interest, cash paid for capital expenditures, cash paid for placement fees, and cash paid for taxes net of refunds. We present Free Cash Flow as a measure of performance and believe it provides investors with another indicator of our operating 9 performance. It should not be inferred that the entire Free Cash Flow amount is available for discretionary expenditures.
A reconciliation of the Company’s net income (loss) per GAAP to Adjusted EBITDA and Free Cash Flow is included in the Unaudited Reconciliation of Selected Financial GAAP to Non-GAAP Measures provided at the end of this release. Additionally, a reconciliation of each segment’s operating income to EBITDA and Adjusted EBITDA is also included. On a segment level, operating income per GAAP, rather than net earnings per GAAP, is reconciled to EBITDA and Adjusted EBITDA as the Company does not report net earnings by segment. Management believes that this presentation is meaningful to investors in evaluating the performance of the Company’s segments.
We define (i) Net Cash Position as cash and cash equivalents plus settlement receivables less settlement liabilities and (ii) Net Cash Available as Net Cash Position plus undrawn amounts available under our revolving credit facility. We present Net Cash Position because our cash position, as measured by cash and cash equivalents, depends upon changes in settlement receivables and the timing of payments related to settlement liabilities. As such, our cash and cash equivalents can change substantially based upon the timing of our receipt of payments for settlement receivables and payments we make to customers for our settlement liabilities. We present Net Cash Available as management monitors this amount in connection with its forecasting of cash flows and future cash requirements.
A reconciliation of the Company’s cash and cash equivalents per GAAP to Net Cash Position and Net Cash Available is included in the Unaudited Reconciliation of Cash and Cash Equivalents to Net Cash Position and Net Cash Available provided at the end of this release.
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 address our expected future business and financial performance, and often contain words such as “goal,” “target,” "indication," “future,” “assume," "estimate,” “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “project,” “may,” “should,” “can,” “designed to,” ” “favorably positioned,” “will provide,” or “will” and similar expressions to identify forwardlooking statements. These statements are based upon management’s current expectations, assumptions and estimates and are not guarantees of timing, future events, or performance. Actual results may differ materially from those contemplated in these statements, due to risks and uncertainties. Examples of forward-looking statements include, among others, statements regarding our ability to execute on key initiatives and deliver ongoing operating and financial improvements including guidance related to 2021 financial and operational metrics; regain revenue momentum; sustain our overall growth; generate Free Cash Flow; improve the Company’s capital structure; drive growth of the gaming operations installed base and DWPU; continue expanding the portions of the gaming floor the Company’s games address; successfully perform obligations required by acquisition agreements; and create incremental value for our shareholders, as well as statements regarding our expectations for the industry environment and the adoption of our products and technologies.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and changes in circumstances that are often difficult to predict and many of which are beyond our control. Our actual results and financial condition may differ materially from those indicated in forwardlooking statements. Important factors that could cause our actual results and financial condition to differ 10 materially from those indicated in the forward-looking statements include, without limitation, the impact of the ongoing COVID-19 global pandemic on our business, operations and financial condition, our history of net losses and our ability to generate profits in the future; our debt leverage and the related covenants that restrict our operations; our ability to generate sufficient cash to service all of our indebtedness and fund working capital and capital expenditures; our ability to withstand unanticipated impacts of a pandemic outbreak of uncertain duration; our ability to withstand the loss of revenue during the closure of our customers’ facilities; our ability to maintain our current customers; our ability to compete in the gaming industry; our ability to execute on mergers, acquisitions and/or strategic alliances, including the timing and closing of acquisitions and our ability to integrate and operate such acquisitions consistent with our forecasts; our ability to access the capital markets to raise funds; expectations regarding our existing and future installed base and win per day; expectations regarding development and placement fee arrangements; inaccuracies in underlying operating assumptions; expectations regarding customers’ and gaming patrons’ preferences and demands for future services and product offerings; the overall growth of the gaming industry, if any; our ability to replace revenue associated with terminated customer contracts; margin degradation from contract renewals; technological obsolescence; our ability to comply with the Europay, MasterCard and Visa global standard for cards equipped with security chip technology; our ability to introduce new and enhanced products and services, including third-party licensed content; our ability to prevent, mitigate or timely recover from cybersecurity breaches, attacks and compromises; the level of our capital expenditures and product development; anticipated sales performance; employee turnover; national and international economic conditions; changes in global market, business and regulatory conditions arising as a result of the COVID-19 global pandemic; changes in gaming regulatory, card association and statutory requirements; regulatory and licensing difficulties that we may face; competitive pressures in the gaming and financial technology sectors; the impact of changes to tax laws; uncertainty of litigation outcomes; interest rate fluctuations; unanticipated expenses or capital needs and those other risks and uncertainties discussed in our most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on March 15, 2021. Given these risks and uncertainties, there can be no assurance that the forward-looking information contained in this press release will in fact transpire or prove to be accurate. Readers are cautioned not to place undue reliance on the forward-looking statements contained herein, which are based only on information currently available to us and speak only as of the date hereof.
This press release should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2020, and with the information included in our other press releases, reports and 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.
“Galaxy Gaming has the distribution network I was looking for in a partner and an impressive, forward-thinking management team,” said Jeff Hwang, President and CEO of High Variance Games, LLC. “I see an organization with a ton of upside.”
“With our focus on innovative, omnichannel content, Jeff’s games are a natural fit. They’re unique, exciting games that add to the breadth of our portfolio,” shared Steve Cvetkoski, Galaxy Gaming’s Director of Product Development. “Super Blackjack and Super Texas Hold’em, in particular, really heighten the most exciting parts of blackjack and poker by offering unique mechanisms, multiple betting rounds, and opportunities to raise. Players can gamble and be aggressive, but with a house edge that will keep them in action longer. That’s the case with all of these games and a big reason why we’re so excited to get them into the land-based and digital spaces quickly. We expect high action while maximizing a player’s 'time on device' – certainly a real win-win for both players and operators.”
“We’re are thrilled to work with Jeff Hwang to add these new titles to our content portfolio and Prime Membership catalog,” stated Todd Cravens, Galaxy Gaming’s President and CEO. “What excites us about these new games is that we believe they will resonate with casino players and add even more diversity and strength to our catalog of world-famous titles.”
About Galaxy Gaming
Headquartered in Las Vegas, Nevada, Galaxy Gaming (galaxygaming.com) develops and distributes innovative games, bonusing systems, and technology solutions to physical and online casinos worldwide. Galaxy Gaming offers games that are proven to perform developed by gaming experts and backed by the highest level of customer support. Through its subsidiary, Progressive Games Partners, Galaxy Gaming is the world’s leading licensor of proprietary table games to the online gaming industry. Connect with Galaxy Gaming on Facebook, YouTube, Instagram, and Twitter.
About High Variance Games, LLC
High Variance Games, LLC is the brainchild of Jeff Hwang, a gaming industry consultant, poker player, and the best-selling author of Pot-Limit Omaha Poker: The Big Play Strategy and the three-volume Advanced Pot-Limit Omaha series. With the rapid expansion of land-based casino gaming over the past three decades, along with the poker boom and online gaming explosion of the 2000s, more people have been exposed to gambling games than ever before. And with the great advancements in in-game knowledge and game strategy over this time period, more gamblers – millennials in particular – are more sophisticated and more knowledgeable about gambling than at any point in the history of mankind. High Variance Games, LLC was formed to bring a new brand of high-action, low-edge games designed to meet the demands of the modern gambler to the casino floor and beyond.
LONDON, Aug. 3, 2021-- International Game Technology PLC ("IGT") (NYSE:IGT) today reported financial results for the second quarter ended June 30, 2021.
- Revenue up 74% to over $1.0 billion, fueled by strong increases in all businesses, including 35% Global Lottery same-store sales growth
- Delivered operating income of $244 million, highlighting impressive Global Lottery operating leverage and excellent progress on structural cost savings
- Net income of $365 million comprised of $39 million loss from continuing operations and income from discontinued operations of $404 million, including gain on sale of assets
- Adjusted EBITDA increases 170% to $442 million, among the highest in Company history
- Generated $500 million in cash from continuing operations and a record-level $380 million of free cash flow during the first half of the year
- $1.0 billion net debt reduction in first half; net debt leverage improved from 6.4x to 4.3x, reaching target six months early
- Raising 2021 outlook; now expect to exceed 2019 levels for key financial metrics this year
IGT (NYSE:IGT) is the global leader in gaming. We deliver entertaining and responsible gaming experiences for players across all channels and regulated segments, from Gaming Machines and Lotteries to Sports Betting and Digital. Leveraging a wealth of compelling content, substantial investment in innovation, player insights, operational expertise, and leading-edge technology, our solutions deliver unrivaled gaming experiences that engage players and drive growth. We have a well-established local presence and relationships with governments and regulators in more than 100 countries around the world, and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has approximately 11,000 employees. For more information, please visit www.igt.com.
"Impressive second quarter results highlight the vitality of our portfolio," said Marco Sala, CEO of IGT. "Outstanding Lottery performance, the progressive recovery in land-based Gaming, and strong increase in Digital & Betting activities drove substantial revenue and profit growth, delivering Adjusted EBITDA that is among the highest recorded in a quarterly period. On the strength of the first half performance, we are raising our outlook for the year and now expect to exceed 2019 levels for key financial metrics this year."
"Record free cash flow from continuing operations and proceeds from recent asset sales fueled significant debt reduction in the first half," said Max Chiara, CFO of IGT. "Our leverage profile improved substantially, reaching pre-pandemic levels well ahead of expectations, and improving our credit profile and overall financial condition."
Key Highlights:
Global Lottery delivers second-highest revenue and profit levels in segment history, driven by strong player demand
Achieved approximately two-thirds of $200M+ 2021 OPtiMa savings targets year-to-date
Global Gaming returns to profitability as progressive recovery continues; Digital & Betting revenue increases 41% in the quarter
Growing adoption of IGT's best-in-class cashless solutions, most recently with Agua Caliente Casinos and Washington's Lottery
Completed sale of Italy B2C gaming businesses; net proceeds used to partially fund full redemption, by make-whole call, of 4.750% Senior Secured Euro Notes due February 2023
Announced 25th anniversary of Wheel of Fortune® Slots; deployed Wheel of Fortune®-themed Historical Horse Racing games at Churchill Downs in Kentucky
Signed seven-year systems contract with Maryland Lottery connecting 11,500 Video Lottery Terminals and Electronic Table Games across six casinos
Expanded availability of PeakSlant49™ cabinet, with high-performing core video content, under purchase model
Recently won "Casino Supplier of the Year" award in 2021 Global Gaming Awards London
Financial highlights:
Consolidated revenue of $1.0 billion, up 74% from the prior year
Global Lottery revenue rises 58% to $725 million, driven by 35% growth in same-store sales
Global Gaming revenue totals $316 million, up 126% from the prior year and 19% sequentially on continued recovery trends
Operating income of $244 million compared to operating loss of $72 million in the prior year
High profit flow-through of Global Lottery same-store sales growth
Mix of high-margin Italy lottery sales
Disciplined cost management and benefits from OPtiMa structural cost-savings program
Net interest expense of $91 million compared to $96 million in the prior year, driven by lower average debt balances and interest rates
Provision for income taxes of $32 million compared to a benefit from income taxes of $3 million in the prior year, on significant increase in operating profitability
Net loss of $39 million versus net loss of $268 million in the prior-year period, primarily driven by significant increase in revenue
Adjusted EBITDA of $442 million compared to $164 million in the prior-year period; Global Lottery delivers near record segment-level Adjusted EBITDA
Net debt of $6.3 billion, down over $1.0 billion from $7.3 billion at December 31, 2020; Net debt leverage of 4.3x, down from 6.4x at December 31, 2020, driven by strong financial results, cash flow generation, and proceeds from sale of Italy gaming businesses
Cash and Liquidity Update
Total liquidity of $1.9 billion as of June 30, 2021; $639 million in unrestricted cash and $1.3 billion in additional borrowing capacity
$748 million in net cash proceeds from sale of Italy gaming businesses used to fund redemption of 4.750% Euro bonds due 2023
Executed amendment and extension of Term Loan Facility in July, increasing liquidity, extending debt maturities, and lowering interest costs
Outlook
Second half 2021 revenue and operating income from continuing operations of $2.0 billion and $300 million, respectfully, meaningfully higher than prior year
Global Lottery returns to more normal growth rates applied to higher levels of consumption; third quarter-to-date same-store sales up double digits versus 2019
Global Gaming progressive recovery continues
Second half 2021 compared to first half 2021
Revenue, operating income, and cash from operations lower on normalization of lottery growth trends
Capital expenditures of approximately $175 million, sequentially accelerating to support growth; full year capital expenditures below 2019 levels
Depreciation and amortization stable
Does not factor in any additional impact from COVID-19 restrictions.
The complete report with spreadsheet is at https://www.igt.com/Explore%20IGT/News/News%20Room%20Details?Index=2021080379a7
NEWS RELEASE - August 2, 2021
Fantini's Cavalcade of Innovation Features New Product Demo From Zitro
Bashiba Link
Presented on the curved portrait cabinet Illusion, Bashiba Link fascinates players all over the world. Its extraordinary graphics immerse players into a fascinating world full of fun features and an extra-charged Link Bonus for plenty of rewards.
View the video at:
https://www.fantiniresearch.com/zitro-cavalcade-of-innovation.html
The Cavalcade of Innovation is sponsored by Ainsworth.
Companies also showcasing products on the Cavalcade include Aristocrat, Aruze, Eclipse Gaming, GAN, GameCo, Konami and others.
The Cavalcade of Innovation is a year-round series that features select innovative new products with quick video demos, all in one spot. All videos can be found at https://www.fantiniresearch.com/conventions/cavalcade-of-innovation.html.
Companies interested in displaying new products in the Cavalcade of Innovation
should contact VP of Fantini’s Gaming Show Dee Wild-Shyver at DWild@FantiniResearch.com or at +1 302 730 3793.
In addition to the Cavalcade of Innovation, Fantini’s Gaming Show site exhibits companies and products along with announcements of other corporate developments and news with 24/7/365 availability, at https://www.FantinisGamingShow.com. To become an exhibitor contact Dee Wild-Shyver using the above contact information.
GLI EMEA has added nearly 70 new test engineers, mathematicians, computer support specialists, data entry operators, and document specialists to their teams in the Netherlands, South Africa, Italy, Spain, the UK, and Austria to support the EMEA and global gaming industry.
As an example, just last month, GLI announced it had been appointed by the Lotteries and Gaming Regulatory Board of Uganda to support them in developing new technical standards for the gaming industry in the country. The appointment is one of several new projects the EMEA team are working on.
Managing Director for GLI EMEA Martin Britton commented, “The impact of Covid-19 on the economy and on employment has been significant across the globe with millions of people losing their jobs. We are really pleased that we have been able to provide employment opportunities to these talented people and at the same time ensure we have the team in place ready to support our customers when they need us.
“The growth in the EMEA team has been driven by global uptake in online gaming and sports betting. The nature of our business means that we can test in any office location for almost any jurisdiction. That means we can hire the best talent in EMEA, and they can work on global GLI projects anywhere the demand is. It’s about having the right people with the right skills to support our customers and meet their demands no matter where in the world they are based.”
GLI EMEA is seeking 21 additional engineers to join the team as part of GLI’s global expansion. For information, visit GLI’s careers page https://gaminglabs.com/careers.
“From the latest top-performing linked series to proven standalone games, DIMENSION 49 is equipped with a highly competitive and exciting content library”
Like all slot machines in Konami’s DIMENSION series, DIMENSION 49 has a sheen silver finish, generous slant top, dual spin buttons, USB charging port, and wireless charging pad. Its towering portrait display showcases a large mix of original new series, including Fortune Mint, Guardians, Triple Sparkle, Myth of the Pyramids™, Boosted Great Stacks, Jackpot Orbs, and much more. Custom end caps, pod fillers, infills, and animated LED overhead signs are also available to accommodate a broad variety of floor configurations.
“From the latest top-performing linked series to proven standalone games, DIMENSION 49 is equipped with a highly competitive and exciting content library,” said Jingoli. “Based on all the success seen to date, we aim to expand DIMENSION 49 and Fortune Mint to as many locations as possible.”
Those interested in learning more are encouraged to contact their Konami representative for the latest information.
For more information about Konami Gaming, Inc., please visit www.konamigaming.com.
1 EILERS-FANTINI Central Game Performance Database – Data Through June ‘21.
2 EILERS-FANTINI Central Game Performance Database – Data Through June ‘21.
PRESS RELEASE - July 28, 2021
Emerging Insights
Interviews with the Gaming Industry’s Leaders
BRAGG CEO TALKS GLOBAL EXPANSION
Bragg Gaming CEO Richard Carter discusses his company’s global ambitions including expansion in the US that includes a listing on Nasdaq and acquisition of two Nevada companies, WildStreak and SpinGames. Carter also discusses Bragg transforming into a developer and owner of its own content.
Carter’s interview: https://youtu.be/h93fRxKLpS0
Emerging Insights is sponsored by Everi Holdings.
Previous videos in the Emerging Insights series feature these CEOs:
John Levy – Score Media and Gaming, Michael Daly - Catena Media, John Acres - Acres Technology, Greg Carlin - Rush Street Interactive, Andrew Burke - Bluberi, Tim Minard - Eclipse, Todd Cravens - Galaxy Gaming, David Field – Entercom, Matt Davey - Tekkorp, Earle Hall - Axes Network, Randy Sampson - Canterbury Park, Charlo Barbosa – GoodGamer and Mark Locke – Genius Sports
All of these videos can be viewed at
https://www.fantiniresearch.com/conventions/emerging-insights.html
Questions about the series can be addressed to Associate Publisher Ashley Diem at ADiem@FantiniResearch.com or at +1 302 730 3793.
Aristocrat's award-winning Oasis 360™ system provides flexible solutions that extend Marker Trax digital funding capabilities to provide operators and customers a seamless and cashless slot marker experience.
"We are excited to partner with Marker Trax and work together to push boundaries to deliver innovative, contactless and cashless solutions," said Cath Burns, executive vice president of customer experience solutions for Aristocrat. "Our commitment to both guest and operator experience is at the heart of everything Aristocrat does, and great partnerships of this kind are the driving force to move our industry technologies forward."
Customers can apply for a Marker Trax account and can be approved quickly, with the option of online or mobile app enrollment. Aristocrat's Oasis 360 interface provides a consistent and simple mobile guest experience; approved funds are immediately available at the machine. Enrollment in Marker Trax is free and requires the customer be a member of the operator's loyalty program or to sign up.
"It's been an exciting first-half of the year for Marker Trax and this partnership with Aristocrat will allow for our continued growth throughout the industry," said Charlie Skinner, Marker Trax COO.
The partnership between the Aristocrat and Marker Trax solution provides full access to customers' account information on the mobile app and through the Marker Trax website. Customers can conduct a variety of user-friendly transactions to manage their Marker Trax account with efficiency and ease.
"Marker Trax takes the burden of issuing casino credit from the operator and is safe and convenient for the customer," said Gary Ellis, founder and CEO of Marker Trax. "There's a lot of good things about cashless for operators and players, our partners at Aristocrat understand this."
Operators will be provided with a robust dashboard that provides functionality to screen information such as player activity, reports, data analysis and other functionality to harness the optimal performance of Marker Trax. Combined with the tracking and reporting functionality of Aristocrat's Oasis 360 system, operators will have all the necessary information to engage and retain customers and leverage the benefits of the partnership.
About Aristocrat Technologies, Inc.
Aristocrat Technologies Inc. is a subsidiary of Aristocrat Leisure Limited (ASX: ALL), a global games leader with more than 6,000 employees. The company is licensed in over 300 gaming jurisdictions, operates in more than 90 countries, and offers a unique blend products and services. The company's mission is to bring joy to life through the power of play. Its values are rooted in creativity and technology, and the company has a rich history of innovation that has shaped the gaming industry over many decades. For more information about Oasis 360 system or any of Aristocrat's industry-leading solutions, contact your Aristocrat representative or visit www.aristocratgaming.com. Join Aristocrat on Facebook, Instagram, LinkedIn, and Twitter.
About Marker Trax
Marker Trax is a cashless, digital alternative to a casino marker. The product is the first of its kind to offer regulatory-compliant casino marker technology that takes the risk out of issuing advances. Developed and patented by the company's founder, Gary Ellis, in 2018, Marker Trax makes for a more efficient gaming experience for players. The application process allows players to be scored and given access to their markers in minutes. Marker Trax integrates into casino operating systems, allowing for easy start-up and player tracking. More information about Marker Trax can be found on the company's website at www.markertrax.com.
Irvine, California | July 28, 2021: GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading full-service internet gaming software-as-a-service provider to the real money internet gaming, online sports betting, and simulated gaming industries, today announced that it has entered into a binding term sheet with Treasure Island Hotel & Casino (“Treasure Island”) to develop a customized simulated gaming solution designed for Treasure Island’s patrons and available across desktop and mobile applications, integrated with Treasure Island’s retail casino rewards program. The customized simulated gaming solution will be powered by GAN’s core GameSTACK™ enterprise software system that today offers more than five hundred high-quality online simulated games, many of them recognizable by patrons from retail gaming floors. Treasure Island represents GAN’s eighteenth B2B client of simulated gaming, and fifth new B2B client win year-to-date. First launched online in 2014, GAN’s simulated gaming solution now serves patrons of 101 retail casino properties coast-to-coast in the U.S.
For B2B retail casino operator clients, simulated gaming generates additional high-margin revenue from retail casino clients’ existing patron databases, enables the retail casino property to engage with their retail patrons, through an authentic internet and mobile social gaming experience, even in states where legislation allowing licensed real money iGaming is yet to arrive. The unique software provides meaningful marketing, brand building, and revenue opportunities for both operators and GAN, and has proved to increase visitation to the retail casino clients’ property. Strategically, simulated gaming also offers U.S. retail casino operators the ability to build an online database before the commencement of intra-state regulated real money Internet gaming.
Treasure Island features over 2,800 newly renovated hotel rooms and over 85,000 square feet of live casino gaming conveniently located on the iconic Las Vegas Strip. GAN was selected to develop a custom solution to bring a more robust experience to Treasure Island’s players. GAN will be launching a state-of-the-art, integrated simulated gaming platform on behalf of Treasure Island across both desktop and mobile applications, and supplying both marketing and front-line customer service for users. As part of the arrangement, GAN will also be launching the Company’s latest technology, which offers a new application framework and desktop template including loyalty linking the property’s robust retail player database. The mobile application will be compatible with both Apple and Android devices.
Marcus Yoder, Senior Vice President of Sales of GAN, commented:
“Our Simulated Gaming technology and software continues to demonstrate its industry-leading position, and our premier list of partners is growing as a result. We are very excited to partner with Treasure Island – a premier asset located on the Las Vegas Strip. Players and guests have been patronizing the iconic property for nearly 30 years, and we are thrilled to offer those players and guests new ways to engage and play with Treasure Island. We are proud to be selected as their trusted partner to improve their player experience. We look forward to developing a customized solution for Treasure Island and the continued growth of our Simulated Gaming offering.”
Pascal Tang, Director of Slot Marketing of Treasure Island Hotel & Casino, commented:
“With the world of gaming always evolving, players around the globe are constantly searching for new and exciting ways to stay engaged with their favorite games, brands, and casinos. With that in mind, it was clear to us that the digital space will become more and more important in the future. Therefore, we are excited to partner with GAN, a proven B2B operator with a customizable and tailored technology solution, in order to continue to drive player loyalty, brand awareness, and new revenue opportunities.”
Lucky slot players won the following million dollar-plus jackpots on IGT games:
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On June 28, a Wheel of Fortune Slots player won $1,544,325 playing Wheel of Fortune Gold Spin™ Triple Red Hot 7s™ at The Venetian® Resort Las Vegas.
IGT Powerbucks slots have paid 30 jackpots of $1 million or more since its Canadian debut in 2016. Wheel of Fortune slots have minted over 1,100 millionaires and awarded over $3.3 billion in jackpots since its launch in 1996.
For more information, visit IGT.com/promotions/wofslots25 or go to Facebook at facebook.com/IGTJackpots. Follow us on Twitter at twitter.com/igtjackpots and on Instagram at instagram.com/igtgamingna/. Watch IGT videos on YouTube at youtube.com/igt.
Las Vegas, NV — July 27, 2021
Casino Queen Holding, Inc. and Konami Gaming, Inc. will soon introduce SYNKROS® to power casino systems technology at DraftKings at Casino Queen in St. Louis and Casino Queen Marquette in Marquette, Iowa. Both casino destinations will launch Konami’s latest award-winning systems innovations, including SYNK31™—the all-in-one Title 31 / Anti-Money Laundering (AML) solution starting in early fall.
With personalized casino rewards, random floor-wide jackpot events, digital drawings, and system-delivered slot tournaments, guests will soon enjoy an array of exciting loyalty experiences and the full convenience of cashless wagering when gaming at their favorite Casino Queen location with SYNKROS.
“Convenience and technology are core components in our mission to deliver an unmatched gaming and entertainment experience in the region,” said Terry Downey, President and CEO of Casino Queen Holding, Inc. “SYNKROS provides the robust, core infrastructure to power that mission for the next generation of gaming.”
Casino Queen has selected a suite of technology with the potential to deploy secure, cashless gaming across any of the 1,450+ slot games and 28 table games at the company’s two casinos, which are located along the banks of the Mississippi River. Powered by SYNKROS’ Money Klip™, this cashless wagering technology allows quests to fund their account at the cage, the slot machine, or by a prepaid account, for safe and seamless wagering through their Royalty Rewards card. Additionally, all loyalty activity helps open a mix of exciting rewards, offers, bonus events, and tournament opportunities, personalized according to entertainment preference and spend.
“In alignment with our East St. Louis expansion, including our state-of-the-art sportsbook, fresh dining options, and diverse gaming floor; we’re excited to add the industry’s top systems technology across our Casino Queen locations,” said Downey.
“Casino Queen is expanding the reach and potential of its portfolio in exciting ways to create a differentiated experience,” said Tom Jingoli, executive vice president & chief operating officer at Konami Gaming, Inc. “Konami is thrilled to partner with Casino Queen at this time and support its locations with the very latest SYNKROS systems releases available.”
Those interested in learning more about SYNKROS’ award-winning product suite are encouraged to visit www.konamigaming.com.
International Game Technology PLC Announces Successful Amendment And Extension Of Term Loan Facility
"We are pleased to announce a successful refinancing of our term loan facility agreement," said Max Chiara, CFO of IGT. "This transaction is another step of a plan to enhance our credit profile, generate additional liquidity and extend debt maturities. It will extend the weighted average maturity of our debt instruments to approximately five years. Based on the current balances and interest rates of the Company's debt, we expect this transaction and the debt transactions closed earlier this year to result in approximately $65 million in lower annualized interest expense going forward. We also added an environmental, social and governance (ESG) margin adjustment, highlighting IGT's commitment to sustainability."
The Amendment and Extension Agreement, among other things: (i) increases the amount of the aggregate term loan facilities from €860,000,000 to €1,000,000,000, (ii) extends the maturity date of the term loan facilities to January 25, 2027, (iii) reduces the applicable interest rate by 35 basis points based on current debt ratings, (iv) provides for a maximum decrease or increase of an additional 7.5 basis points in the margin based on ESG factors, (v) requires €200,000,000 in annual amortization payments in each of 2024, 2025 and 2026, with the remaining €400,000,000 balance due at maturity, and (vi) maintains and extends existing financial covenant thresholds.
The foregoing description of the Amendment and Extension Agreement is qualified in its entirety by reference to the full text of the Amendment and Extension Agreement, which is attached as an exhibit to IGT's current report on Form 6-K furnished to the Securities and Exchange Commission on July 26, 2021.
Bank of America Europe Designated Activity Company and Mediobanca - Banca di Credito Finanziario S.p.A acted as IGT's Global Coordinators and Sustainability Coordinators while Mediobanca acted as Agent.
About IGT
IGT (NYSE:IGT) is the global leader in gaming. We deliver entertaining and responsible gaming experiences for players across all channels and regulated segments, from Gaming Machines and Lotteries to Sports Betting and Digital. Leveraging a wealth of compelling content, substantial investment in innovation, player insights, operational expertise, and leading-edge technology, our solutions deliver unrivalled gaming experiences that engage players and drive growth. We have a well-established local presence and relationships with governments and regulators in more than 100 countries around the world, and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has approximately 11,000 employees. For more information, please visit www.IGT.com.
LONDON – In celebration of its 25th anniversary of Wheel of Fortune® Slots, IGT presented National Indian Gaming Association Chairman Ernie Stevens with special token of appreciation at the start of the Indian Gaming Tradeshow and Convention today. Knute Knudson, IGT Vice President of Global Business Development and Tribal Ambassador presented Chairman Stevens with a custom Wheel of Fortune kimono exclusively designed by Bob Mackie, signed by Wheel of Fortune Hostess and entertainment icon Vanna White.
“IGT commends Chairman Stevens for his passion, drive and leadership to ensure that tribal gaming positively impacts Indian Country,” said Knudson. “We share that same sentiment when it comes to providing engaging content to our tribal gaming partners, including IGT’s legendary Wheel of Fortune Slots. We appreciate all that Chairman Stevens has done for tribal gaming and are honored to present him with this one-of-a-kind autographed Wheel of Fortune kimono.”
LONDON, July 22, 2021 /PRNewswire/ -- International Game Technology PLC (IGT) (NYSE: IGT) announced today that its subsidiary, IGT Global Solutions Corporation (hereinafter "IGT"), has extended its lottery gaming systems contract to deploy next-generation cashless lottery technology for Washington's Lottery, making Washington the seventh U.S. state to leverage IGT's cashless lottery solutions. This agreement extends IGT's current contract through June 30, 2029.
Washington's Lottery is among the U.S. leaders in self-service vending machine deployment, with lottery vending machines accounting for 45 percent of its entire retail landscape. IGT will implement hardware modifications and software development to outfit 2,000 lottery self-service vending machines with cashless functionality as part of the new agreement. The cashless functionality will allow Washington's Lottery players to purchase lottery products with debit cards on IGT's GameTouch™ 28, GameTouch™ 24 and GameTouch™ 20 self-service vending machines that are placed at lottery retailers throughout the state.
"Washington's Lottery has relied on IGT's trusted partnership and forward-thinking expertise for more than 25 years," said Marcus Glasper, Washington's Lottery Director."Within that time, IGT has helped us navigate the ever-evolving lottery landscape and provide us with innovative solutions to consistently engage new players. The addition of cashless functionality on self-service machines is another chapter in our development, and allows players to have a flexible, convenient and secure way to purchase their favorite lottery games."
"IGT has a deep understanding for the growth-driving products and solutions Washington's Lottery needs to help reach its business goals," said Jay Gendron, IGT Chief Operating Officer, Lottery. "Since our current contract began in 2016, we have worked closely with the Lottery to increase its annual lottery sales by 37 percent, culminating in $950 million in total sales for the most recent fiscal year. We'll continue to support the Lottery in maximizing its funds toward good causes, including the Washington Opportunity Pathways Account which funds educational programs around the state, while delivering entertaining and responsible experiences for its players."
IGT has served as the primary lottery technology supplier to Washington's Lottery since 1996. In addition to self-service lottery machines, IGT provides Washington's Lottery with its central system, retail terminals and equipment, instant tickets and field services.
As the lottery market leader, IGT central systems process more than 75 percent of U.S. lottery sales. For more information about IGT's lottery business, visit igt.com and follow us on LinkedIn.
PRESS RELEASE - July 21, 2021
Public Policy Insights
Interviews with Public Policy Leaders in Gaming
PUBLIC POLICY FOCUS: DIVERSITY IN SPORTS BETTING
Legislative efforts to ensure diversity and inclusion as the US sports betting industry continues to grow is discussed in the latest Public Policy Insights interview with Maryland State Delegate Darryl Barnes.
Barnes, who was instrumental in legislation focused on inclusion and diversity in Maryland’s sports betting industry, is a member of the House Racing and Gaming subcommittee and Chairman of the Legislative Black Caucus.
See Barnes’ interview at https://youtu.be/4_rxl8W7u3w
Public Policy Insights is co-produced with Spectrum Gaming and sponsored
by Gaming Laboratories International.
The series of one-on-one interviews with public policy leaders is focused on legislative and regulatory issues facing the gaming industry.
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Previously released in the series are those with
Laura Briggs, director of public policy at Fantini Research;
Keith Pickard, NCLGS President and Nevada State Senator;
Keith Whyte, executive director of the National Council on Problem Gambling;
Richard Kalm, Executive Director of the Michigan Gaming Control Board; and
Bill Miller, CEO of the American Gaming Association.
All Public Policy Insights? are at
https://www.fantiniresearch.com/conventions/public-policy-insights.html.
Other Insights series:
Other video in the Insights series ¬– Emerging Insights and Investor Insights can be seen at https://www.fantiniresearch.com/index.php?option=com_content&view=article&id=10547
Questions about any of the video series can be addressed to Associate Publisher Ashley Diem at ADiem@FantiniResearch.com or at +1 302 730 3793.
Aristocrat’s Casino Management Technology to Support Everi’s Cashless Commerce and Payment Solution
LAS VEGAS, July 21, 2021 – Aristocrat Technologies, Inc. a subsidiary of Aristocrat Leisure Limited (ASX: ALL), today announced a partnership with Everi Holdings Inc. (NYSE: EVRI) to integrate Oasis 360™ with Everi’s digital CashClub Wallet®. The integration of Aristocrat’s award-winning casino management system (CMS) with CashClub Wallet® further demonstrates Aristocrat’s leadership position in the land-based gaming technology supplier space.
Through this partnership, Aristocrat will offer Everi’s flexible, cost-effective, and secure cashless and contactless commerce and payment solution to operators that utilize Aristocrat’s wide array of customer experience solutions for mobile, electronic gaming devices, and table games. In addition, the integration of Aristocrat’s digital wallet services with CashClub Wallet provides guests another option to fund their play while providing a seamless gaming experience.
Oasis 360 offers an award-winning portfolio of casino management technology comprised of mobile, slot management, bonusing, digital, table management, loyalty solutions, kiosk, and a media management hub. Oasis 360 is built with an open architecture that allows for dynamic integration with third-party technologies such as CashClub Wallet. Furthermore, it provides a comprehensive solution including data capture from slot machines, tables and kiosks, key reports, jackpot processing, customer rewards, security breach assistance, pit operations, player credit, markers and check cashing.
“The integration between Oasis 360 and Everi’s CashClub Wallet shows our focus on delivering innovative guest and operator experiences for our customers with a continued pledge to world-class partnerships,” said Cath Burns, executive vice president of customer experience solutions for Aristocrat. “Our commitment to both guest and operator experiences are at the heart of everything we do and this partnership will be a driving force to move our industry technologies forward.”
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. Everi empowers casino operators to successfully deliver on all aspects of the emerging mobile ecosystem, including funding at the gaming device, payments at point of sale, or funding online sports betting, iGaming or social gaming – a true cashless experience all while providing customers with multiple options to access funds while on the casino floor.
“We understand that complexity around the gaming customer is increasing every day and operators are looking for continued engagement by creating integrated solutions to deliver a seamless experience. This partnership represents an important opportunity to collaborate with Aristocrat and support their award-winning CMS solution with our industry-leading technology,” said Darren Simmons, executive vice president and FinTech business leader for Everi. “Integrating Oasis 360 with our CashClub Wallet solution fulfills our collective goal of creating a convenient, seamless mobile experience for casino guests and a cost-effective solution for operators.”
For more information about the Oasis 360™ system or any of Aristocrat’s industry-leading solutions, contact your Aristocrat representative or visit www.aristocratgaming.com.
© CashClub Wallet is a registered trademark of Everi Holdings Inc. and is used with permission.
About Aristocrat Technologies, Inc.
Aristocrat Technologies Inc. is a subsidiary of Aristocrat Leisure Limited (ASX: ALL), a global games leader with more than 6,000 employees. The company is licensed in over 300 gaming jurisdictions, operates in more than 90 countries, and offers a unique blend products and services. The company’s mission is to bring joy to life through the power of play. Its values are rooted in creativity and technology, and the company has a rich history of innovation that has shaped the gaming industry over many decades. For more information about Oasis 360 system or any of Aristocrat’s industry-leading solutions, contact your Aristocrat representative or visit www.aristocratgaming.com. Join Aristocrat on Facebook, Instagram, LinkedIn, and Twitter.
About Everi
Everi’s mission is to be the industry leader 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.
LONDON, July 21, 2021 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that the Company is leading the transformation of the casino industry with an agreement to implement its Resort Wallet™ cashless solution and its proprietary IGTPay™ full-service funding solution at all three Agua Caliente Casinos in California: Agua Caliente Casino Resort Spa Rancho Mirage, Agua Caliente Casino Palm Springs, and Agua Caliente Casino Cathedral City.
This deployment of Resort Wallet in combination with the IGTPay solution will give patrons mobile access to funds from all available types of external sources. The available sources can include credit and debit cards, bank accounts, and eWallets. This can reduce contact with cash while increasing player loyalty through enhanced convenience.
"IGT's innovative Resort Wallet cashless solution with IGTPay technology, offered to patrons through Agua Caliente's Play Agua app, will help us deliver on our commitment to providing enhanced safety through reduced contact, and offering a more convenient gaming experience," said Bill Oliver, Chief Information Officer, Agua Caliente Casinos. "We're proud to be at the forefront of global gaming technological innovation with this new service, and are excited to leverage Resort Wallet and IGTPay to power the industry's most seamless loyalty program."
"Implementing IGT's Resort Wallet and IGTPay solutions will position Agua Caliente Casinos in the vanguard of advanced casino technology and player convenience," said Ryan Reddy, IGT Senior Vice President of Global Product Management for VLT, Systems and Payments. "By uniquely giving players seamless access to all major funding sources, Agua Caliente Casinos can enhance player engagement and loyalty and attract a more diverse player demographic, which can ultimately lead to increased revenues and profitability."
Agua Caliente Casinos is scheduled to implement the full suite of IGT's Resort Wallet modules in 2021. The suite includes both flexible variations of IGT's cashless offering: cardless and carded. The player's PIN-protected Cashless Wagering Account can fund both variations either digitally through external sources via IGTPay such as bank accounts, credit cards, debit cards, or eWallets, or through cash deposits at the casino cashier, kiosks and slot machines. Funds in the Cashless Wagering Account are securely maintained for the next play session or property visit, and players can also transfer funds between slot machines onsite, as well as between Agua Caliente's other properties, or withdraw funds into a bank account. As part of the planned IGTPay full-service funding deployment, Agua Caliente Casinos will benefit from IGT's experienced Payments team, which has been operating in digital gaming markets since 2013 and will support all aspects of payment-related services.
With the cardless variation of Resort Wallet with IGTPay, players will be able to use Agua Caliente's Play Agua mobile app to access their Cashless Wagering Account. Players tap their smartphone on a slot machine to card in, and transfer funds electronically to the game.
For patrons who prefer to use physical loyalty cards, the carded cashless variation of Resort Wallet enables them to use their Agua Caliente ACE Club card to access their Cashless Wagering Account. With it, players insert their card into a slot machine and transfer the funds into the game.
IGT's end-to-end cashless solution unlocks an unparalleled player experience. Following the launch of cashless slot play, Agua Caliente Casinos plans to extend its Resort Wallet-enabled cashless capabilities to table gaming and retail services throughout the enterprise.
The IGT ADVANTAGE® system enables responsible gaming information to be displayed through the Service Window and NexGen® display on the slot machine, as well as through notifications on the Resort Wallet-enabled cashless wagering mobile app.
For more information, visit igt.com/cashless, or go to Facebook at facebook.com/IGT, follow us on Twitter at twitter.com/IGTnews, or watch IGT videos on YouTube at youtube.com/igt.
Aristocrat’s Game of Thrones franchise is among the industry’s most legendary, and this latest installment stands taller, ready to crown players with new thrills in an all-new game with an easy-to-understand jackpot structure and intuitive game play.
Game of Thrones King’s Landing is available exclusively on Aristocrat’s industry-leading Neptune Double™ cabinet, and players will cheer as dragons soar up and down the stacked, curved 49-inch monitors in 4K visual splendor. State-of-the-art sound and a custom-designed, adjustable sound throne combine to create a game experience unlike any other.
Game of Thrones King’s Landing is medium volatility with average feature frequency. Denominations range from 1c to 10c.
Bonus features include Drogon High Fire Reels, a randomly triggered base game feature with wilds, credit prizes, and growing reels. The Free Games feature includes credit prize collection with growing reels, plus Wild Spin may randomly trigger growing reels between 7 and 14 positions high.
The new Red Keep Bonus gives players Hold & Spin with random dragon enhancements and jackpot opportunity, and Red Keep Jackpots offer four jackpot levels, with a SSP grand jackpot that starts at $10,000.
Contact your Aristocrat representative today and bring the crowning achievement of Game of Thrones King’s Landing to your kingdom.
LAS VEGAS (July 21, 2021) – Aristocrat Technologies, Inc., a subsidiary of Aristocrat Leisure Limited (ASX: ALL), today announced a partnership with Everi Holdings Inc. (NYSE: EVRI) to integrate Oasis 360™ with Everi’s digital CashClub Wallet®. The integration of Aristocrat’s award-winning casino management system (CMS) with CashClub Wallet® further demonstrates Aristocrat’s leadership position in the land-based gaming technology supplier space.
Through this partnership, Aristocrat will offer Everi’s flexible, cost-effective, and secure cashless and contactless commerce and payment solution to operators that utilize Aristocrat’s wide array of customer experience solutions for mobile, electronic gaming devices, and table games. In addition, the integration of Aristocrat’s digital wallet services with CashClub Wallet provides guests another option to fund their play while providing a seamless gaming experience.
Oasis 360 offers an award-winning portfolio of casino management technology comprised of mobile, slot management, bonusing, digital, table management, loyalty solutions, kiosk, and a media management hub. Oasis 360 is built with an open architecture that allows for dynamic integration with third-party technologies such as CashClub Wallet. Furthermore, it provides a comprehensive solution including data capture from slot machines, tables and kiosks, key reports, jackpot processing, customer rewards, security breach assistance, pit operations, player credit, markers and check cashing.
“The integration between Oasis 360 and Everi’s CashClub Wallet shows our focus on delivering innovative guest and operator experiences for our customers with a continued pledge to world-class partnerships,” said Cath Burns, executive vice president of customer experience solutions for Aristocrat. “Our commitment to both guest and operator experiences are at the heart of everything we do and this partnership will be a driving force to move our industry technologies forward.”
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. Everi empowers casino operators to successfully deliver on all aspects of the emerging mobile ecosystem, including funding at the gaming device, payments at point of sale, or funding online sports betting, iGaming or social gaming – a true cashless experience all while providing customers with multiple options to access funds while on the casino floor.
“We understand that complexity around the gaming customer is increasing every day and operators are looking for continued engagement by creating integrated solutions to deliver a seamless experience. This partnership represents an important opportunity to collaborate with Aristocrat and support their award-winning CMS solution with our industry-leading technology,” said Darren Simmons, executive vice president and FinTech business leader for Everi. “Integrating Oasis 360 with our CashClub Wallet solution fulfills our collective goal of creating a convenient, seamless mobile experience for casino guests and a cost-effective solution for operators.”
For more information about the Oasis 360™ system or any of Aristocrat's industry-leading solutions, contact your Aristocrat representative or visit www.aristocratgaming.com.
© CashClub Wallet is a registered trademark of Everi Holdings Inc. and is used with permission.
LONDON, July 20, 2021 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE:IGT) announced today that it is fueling its leadership in cashless gaming technologies via a strategic partnership with Marker Trax, makers of an advanced digital casino marker system. This partnership will give IGT ADVANTAGE® casino management systems users the option to integrate Marker Trax technology into any variation of an IGT Resort Wallet deployment.
"The customer experience is the most important thing in this business and IGT shares that philosophy. Working together, we are able to streamline and enhance the customer's experience as they move across the casino floor," said Gary Ellis, Marker Trax Founder and CEO.
"Working with IGT to expand the market penetration of Marker Trax is an honor. This agreement with IGT reaffirms our company's commitment to offering the convenience and safety of Marker Trax to an expanded customer base," said Charlie Skinner, Marker Trax COO.
"In giving our customers the option to add Marker Trax's specialized technology into their IGT Resort Wallet-powered casino apps, IGT is delivering an even more versatile cashless payments ecosystem," said Ryan Reddy, IGT Senior Vice PresidentGlobal Product Management for VLT, Systems and Payments. "With the demand for cashless gaming solutions at an all-time high, technology integrations like what we've agreed to with Marker Trax will help our customers offer multiple cashless technologies in an intuitive, convenient and safe manner."
When IGT ADVANTAGE, Resort Wallet and Marker Trax are concurrently deployed, patrons have the option to create safe and secure casino markers on their personal mobile device and to fund an IGT-enabled Cashless Wagering Account. Players can apply for a Marker Trax account either online or via a mobile app; qualified players are approved in less than five minutes. This collaboration enables both IGT and Marker Trax to maximize the opportunities of the fast-growing cashless segment while enhancing player convenience, record keeping, security, casino liquidity and more.
For more information on IGT's cashless gaming technologies visit igt.com/cashless. Follow IGT on Facebook at facebook.com/IGT or watch IGT videos on YouTube at youtube.com/igt. For more information on Marker Trax visit markertrax.com.
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The partnership extends Sightline’s Play+ integrated payment solution with Aristocrat’s Oasis 360 cashless wagering account to enable casino operators new capabilities including digital mobile payment and contactless wallet options for their guests.
Sightline and Aristocrat initially launched these new capabilities at several Boyd Gaming properties including Indiana, Nevada, Pennsylvania and Ohio with more planned through BoydPay, which enables guests to use their smartphones to seamlessly fund their gaming and pay for amenities throughout the properties.
Aristocrat and Sightline plan to work in tandem across North America to leverage these new opportunities for Sightline’s 70+ partners and the more than 400 North American casinos that utilize Aristocrat’s Oasis 360 casino management system. Additional property launches combining Sightline’s Play+ solution and Aristocrat’s Oasis 360 casino management system are in development.
“If casinos want to truly harness the transformative power of cashless gaming, they must integrate digital payments and loyalty rewards into their casino management system,” said Andrew Crowe, senior vice president, business development for Sightline Payments. “This partnership with Aristocrat will enable players across North America to seamlessly access cashless gaming on a scale that the industry has not seen before.”
“Cashless gaming is the future of our industry, and our intent was to partner with a company that can deliver an incredible experience to the guest,” said Cath Burns, executive vice president of customer experience solutions for Aristocrat. “The Sightline team fully understands the important role that the integration in the casino management system provides for the operator to improve the guest experience and we are excited to partner with Sightline to enable these innovations.”
Both Aristocrat and Sightline will be exhibiting at the 2021 Indian Gaming Tradeshow & Convention beginning on Wednesday, July 21 in Las Vegas, NV. To learn more about these technologies and the partnership, please visit Aristocrat at Booth 1323 and Sightline Payments at Booth 1828.
Everi's CashClub Wallet is a mobile digital wallet that enables casino operators to offer their guests the option of cashless and contactless funding of electronic game play across the casino floor. Everi empowers casino operators to successfully deliver on all aspects of the emerging mobile ecosystem, including funding at the gaming device, payments at point of sale, or funding for sports betting or social gaming – all while providing customers with multiple options to access funds while on the casino floor. The CashClub Wallet technology will be phased in to assist with velocity control for responsible gaming and will be integrated with JACK's loyalty application and back-end system.
"Powered by the industry-leading CashClub Wallet technology, JACK Mobile Wallet fulfills a collective goal of enabling JACK Entertainment's guests the choice of having a cashless, mobile experience," said Darren Simmons, Everi's Executive Vice President and FinTech Business Leader. "Our aim is to enhance the player experience, which we do by bringing customer-centric features to loyalty, payments, and cage and cash operations and by providing continuity to our clients' workflows."
Guests can become a member of ClubJACK for free by registering at any of JACK Entertainment's properties. As part of ClubJACK, guests receive exclusive offers including free play, gift giveaways, special programming, and food and beverage promotions.
"JACK Entertainment looks to lead the industry with unique and innovative amenities and using technology to create a better guest experience when they visit our properties," said Mark Dunkeson, Chief Executive Officer of JACK Entertainment. "The launch of the mobile solution at JACK Thistledown Racino eliminates the need to handle cash on the casino floor, creating a frictionless experience for the customer and providing patrons with new, flexible options to fund their gaming."
AGS President and Chief Executive Officer David Lopez said, “After the challenging pandemic year that we all just went through, winning the Best and Brightest in the nation and Atlanta for the fifth straight year is even more meaningful. Despite the fact that nearly all of us were working remotely, we prioritized internal communication to help sustain our employee-focused culture and make it through the pandemic as an even stronger and more cohesive team, with a bright future ahead.”
Out of the 1,000 companies that submitted nominations for the spring 2021 Best and Brightest national award, only 113 were named to the prestigious Best and Brightest list, putting AGS in the top 11 percent of all companies nominated.
And for the Atlanta Metro area, where AGS has an R&D center and game development studios spread across Duluth and Midtown, AGS was among the top 11 percent of all Atlanta-based companies nominated, with 107 companies selected out of 1,000 nominations.
The competition identifies and honors organizations that display a commitment to excellence in operations and employee enrichment that lead to increase productivity and financial performance. Organizations are assessed based on categories such as communication, work-life balance, employee education, diversity, recognition, retention, and more.
Winners were selected following confidential, third-party employee surveys, and the awards process was audited, designed, and scored by an independent market research firm.
Best and Brightest Programs President and Chief Executive Officer Jennifer Kluge said, “The Best and Brightest is a powerful community of elite leaders who are employers of choice. Best and Brightest- winning companies have also been a voice for important actions in creating a sustainable culture that works, ensuring the wellbeing of their employees comes first.”
"Ute Mountain Casino has big plans for our sportsbooks scheduled to open end of August and we are confident that IGT's PlaySports technology and experienced trading team will help us bring a new level of entertainment to our valued Mountain Rewards players," said Rick Scheer, Ute Mountain Casino General Manager. "IGT has been a trusted partner of Ute Mountain Casino for many years and we are excited to expand our relationship and differentiate our casino with the introduction of sports betting and personalized betting offers."
"IGT is honored to help Ute Mountain Casino grow its PlaySports-powered sports betting enterprise from the ground up," said Enrico Drago, IGT PlayDigital Senior Vice President. "Our experienced trading team will ensure Ute Mountain Casino maximizes the full potential of the PlaySports platform's integrated Player Account Management module and create compelling offers and promotions that will help build player loyalty and drive growth. IGT PlaySports has been processing sports wagers in Colorado since the first day of legalized sports betting in the State and we look forward to extending that momentum with Ute Mountain Casino."
IGT PlaySports is currently powering sports betting at more than 40 gaming outlets across the country. To learn more about IGT PlaySports visit igt.com/playsports.