Everi Holdings has announced the acquisition of Micro Gaming Technologies (MGT) for an initial fee of $15m.
The deal includes subsidiary Everi Payments, sealing certain strategic assets such as products, software and technologies from Las Vegas-based casino marketing provider MGT.
Everi will pay $15m initially, with a further $5m expected to be paid by 1 April 2020, and $5m more on 24 December 2021.
Everi Executive Vice President and FinTech Business Leader, Darren Simmons said, “The acquisition of the MGT assets will further strengthen our ability to provide our customers with a one-stop shop of comprehensive, integrated solutions that enable a seamless, convenient experience for casino patrons while delivering operational efficiencies for casino operators.
“By combining our existing Everi player loyalty and marketing solutions with these assets from MGT, we will be better positioned to offer our customers the industry’s most extensive suite of loyalty and marketing technology.
“We have already begun the process of developing a roadmap for integrating the best functionality of MGT’s platform with the best of our existing loyalty and FinTech suite of products and services with an eye towards further strengthening our overall solution set.”
The news follows last month’s announcement that saw Everi partner with Scientific Games Corporation to launch online gaming in New Jersey, with plans to expand in Europe and Canada next year.