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Everi To Buy Certain Strategic Assets Of Venuetize

Everi Holdings Inc. (EVRI), a maker of slot machines and provider of financial equipment and services to casinos, said on Tuesday that it has agreed to buy certain strategic assets of Venuetize, Inc., an innovator of mobile-first technologies, for an undisclosed sum.

The transaction, expected to be closed within 30 days, will be funded from existing cash on hand.

The acquisition will boost Everi's player loyalty and guest engagement technology capabilities and also expand a market beyond casino industry.

Randy Taylor, CEO of Everi, said, "This acquisition will, for the first time, expand Everi's addressable market beyond casino gaming and also perfectly aligns with our capital allocation strategy, which has delivered a track-record of success of executing on high-return accretive investments that expand our technology capabilities into new markets and new geographies…"

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