Everi Holdings Inc. has announced its agreement to purchase assets from Video King, worth an estimated $59 million. The company has been bolstering its position in both the online and land-based markets across the United States, and this will further solidify Everi as a leader in the industry.
New Opportunities for Everi
One of the biggest benefits of the purchase is that it will open up new growth opportunities for Everi's Games segment. Video King is licensed in over 90 jurisdictions, so players are already well-acquianted with their titles in the land-based area.
Video King earned revenue of over $25 million in 2022, primarily from recurring sources, such as its installed base of over 50,000 portable electronic bingo tablets in tribal casinos, commercial casinos, charitable bingo halls, military bases, and cruise lines, as well as from the sale of traditional bingo equipment and consumable products.
Potential for Land-Based Advancements
In addition to having a vast collection of slot machine kiosks, Video King also operates e-gaming tablets that offer traditional bingo games and Class II video poker, slots and instant win games – equipped with a digital wallet and loyalty products.
By purchasing Video King, Everi will be able to offer this innovative technology to players across the USA. It will be particularly useful as many states have hybrid mobile gaming available, where players can access slots from mobile devices as long as they are on casino property.
Will Video King Slots Be Available Online?
Everi has established quite a strong presence in the American online gambling market, with its games available at casinos across New Jersey, Michigan and Pennsylvania. So, we’re anticipating that Everi’s purchase of Video King assets will mean that they will also be available online soon.
