Everi is dedicated to providing video and mechanical reel gaming content and
technology solutions, integrated gaming payments solutions and compliance and
efficiency software. Everi Games provides: (a) comprehensive content, electronic
gaming units and systems for Native American and commercial casinos, including
the award winning TournEvent® slot tournament solution; and (b) the central
determinant system for the video lottery terminals (“VLTs”) installed
at racetracks in the State of New York. Everi Payments provides: (a) access
to cash at gaming facilities via Automated Teller Machine (“ATM”)
cash withdrawals, credit card cash access transactions, point of sale (“POS”)
debit card transactions, and check verification and warranty services; (b) fully
integrated gaming industry kiosks that provide cash access and related services;
(c) products and services that improve credit decision making, automate cashier
operations and enhance patron marketing activities for gaming establishments;
(d) compliance, audit and data solutions; and (e) online payment processing
solutions for gaming operators in states that offer intrastate, Internet-based
gaming and lottery activities.
On December 19, 2014, Holdings completed the acquisition of Everi Games Holding.
Pursuant to the terms of the Agreement and Plan of Merger, dated as of September
8, 2014 (the “Merger Agreement”), by and among Holdings, Movie Merger
Sub, Inc., a wholly owned subsidiary of Holdings (“Merger Sub”),
and Everi Games, Merger Sub merged with and into Everi Games Holding, with Everi
Games Holding continuing as the surviving corporation (the “Merger”).
In the Merger, Everi Games Holding became a wholly owned subsidiary of Holdings.
Also, as a result of the Merger, each outstanding share of common stock, par
value $0.01 per share, of Everi Games Holding, other than shares held by Holdings,
Everi Games Holding, Merger Sub or their respective subsidiaries, was cancelled
and converted into the right to receive $36.50 in cash, without interest. We
refer to the consideration paid for the shares of Everi Holdings common stock,
together with the consideration paid in connection with the acceleration and
full vesting of certain Everi Games Holding equity awards, as the “Total
Merger Consideration”.
Holdings was formed as a Delaware limited liability company on February 4, 2004
and was converted to a Delaware corporation on May 14, 2004. Our principal executive
offices are located at 7250 South Tenaya Way, Suite 100, Las Vegas, Nevada 89113.
Our telephone number is (800) 833-7110. Our website address is www.everi.com.
Our operating segments were previously organized and managed under five business
segments: (a) Cash Advance, (b) ATM, (c) Check Services, (d) Games, and (e)
Other. During the first quarter of 2015, we changed our organizational structure
as part of our transformation to a Games and Payments company providing solutions
to the gaming industry.
With respect to our Games business, we have expanded our licensing into new
jurisdictions, increased investment in research and development, and introduced
premium game products (which typically include high definition (“HD”)
dual-screens, liquid crystal display (“LCD”) panels, and red green
blue (“RGB”) top box lighting). From its historical focus on placement
of standard games into the Oklahoma and Washington tribal markets, Everi Games
has diversified its installed base in recent years with entry into new commercial
and tribal markets as well as the development and placement of premium products.
Everi Games has grown premium game installations with approximately 1,750 units
installed (representing more than 13% of our installed base) since entering
the category three years ago. Development of high-earning premium games has
supported Everi Games’ ability to enter new markets, expand its footprint,
and provide broad and new content across its installed base.
Our Payments products and services include solutions that we provide directly
to gaming establishments to offer their patrons cash access related services
and products including: access to cash at gaming facilities via Automated Teller
Machine (“ATM”) cash withdrawals, credit card cash access transactions
and POS debit card transactions; check-related services; fully integrated kiosks
and maintenance services; compliance, audit and data software; casino credit
data and reporting services and other ancillary offerings.
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