Everi Holdings Inc. (NYSE: EVRI) has evolved from a backstage fintech facilitator into a front-stage force in the North American gaming industry. While it may not be as publicly prominent as brands lining the Las Vegas Strip, its influence spans slot machine manufacturing, casino financial services, and digital gaming infrastructure.
Founded in 1998 as Global Cash Access, the firm initially served as a transactional backbone for casinos. In 2014, it acquired Multimedia Games—a pivotal move that led to its 2015 rebrand as Everi Holdings, signaling a shift from payments to platform.
Evolution of a Dual-Powered Platform
Everi combines two major business pillars:
- Gaming Division: Manufactures slot cabinets for both Class II and Class III markets, using proprietary math models and game engines.
- Fintech Division: Provides cash access kiosks, mobile wallets, loyalty and rewards platforms, and AML-compliant systems for casino operations.
With over 54,000 gaming machines across more than 1,000 venues, Everi has become a vertically integrated provider of both entertainment content and operational tools.
Milestones and Expansion
- At its fintech peak, Everi (then Global Cash Access) processed 85 million+ transactions annually, worth nearly $22 billion.
- The 3-in-1 Rollover System pioneered integrated fund access via ATM, debit, or credit—revolutionizing compliance and cash flow for casinos.
- By 2023, Everi generated $808 million in revenue and $84 million in net income, supporting 2,200+ employees and over 300 gaming licenses.
Cabinet Engineering and Game Mechanics
Everi’s cabinet catalog includes:
- Empire Flex, Skyline Revolve, Empire Arena, and the next-generation Dynasty Luna.
- Designed to accommodate mechanical reels, video slots, jackpots, and linked tournament features.
Top-performing games:
- Cash Machine, Black Diamond, Riverboat Queen
- Smokin’ Hot Stuff Diamond Blaze, Blessings, PowerShot series
Popular gameplay elements include:
- Scatter pays and free spins
- Progressive jackpots
- Transfer wilds and bonus wheels
Everi Digital: iGaming and RGS Innovation
Everi’s Spark Remote Game Server (RGS) hosts more than 70 HTML5 slot titles, available across desktop and mobile devices. These games feature customizable RTP and volatility settings and are accessible in real-money and free-play environments.
Key jurisdictions and partnerships:
- Live in New Jersey, Pennsylvania, Michigan, and West Virginia
- Expanded into the UK via Jumpman Gaming
- Titles include Shamrock Spin, Atomic Meltdown, Triple Threat, and Star Magic
The Spark RGS integrates directly with Everi’s fintech ecosystem, enabling seamless loyalty tracking and wallet-based transactions through platforms like BeOn, Trilogy, and Vi.
Global Licensing and Compliance
Everi is licensed in:
- All major U.S. gaming jurisdictions, including tribal and commercial markets
- Ontario via AGCO
- Selected Latin American test markets
All solutions meet GLI, BMM, and PCI DSS standards and include embedded AML and responsible gaming features, such as:
- Time and spend tracking
- Loss limits
- Player self-exclusion
- Behavioral risk monitoring
Strategic Merger: Everi Joins Forces with IGT
In July 2024, Apollo Global Management orchestrated a $6.2 billion merger combining Everi’s gaming assets with IGT’s land-based slot business. The new IGT-branded entity will become North America’s largest slot supplier, fielding over 77,000 machines.
Highlights of the merger:
- $140 million in cost synergies projected within three years
- Scheduled closure by end of 2025
- Everi’s fintech and digital arms will remain independent
Certifications and Responsible Play Infrastructure
All systems are audited and certified by:
- GLI, BMM, and eCOGRA
- Fintech systems uphold PCI DSS protocols
- Responsible gaming integrated at both physical and digital levels
FAQs
Q: Does Everi offer real-money online slots?
Yes. Everi Digital hosts 70+ titles via Spark RGS in licensed U.S. and UK markets.
Q: Where is Everi licensed to operate?
In over 300 jurisdictions including all U.S. markets, Ontario, and the UK.
Q: What fintech tools does Everi provide?
Cash access kiosks, loyalty platforms, mobile wallets, credit scoring systems.
Q: What are the best-known Everi slots?
Cash Machine, Black Diamond, Smokin’ Hot Stuff, Blessings, PowerShot.
Q: What’s the impact of the merger with IGT?
It will create the largest slot provider in North America; fintech and digital operations will continue independently.
