American casino gaming technologies firm Everi Holdings Incorporated has announced the inking of a deal that is to see it acquire certain strategic assets of guest engagement services pioneer Venuetize Incorporated.
The Las Vegas-headquartered iGaming firm used an official Tuesday press release to state that this arrangement for an undisclosed amount will allow it to ‘expand its addressable market beyond the casino gaming industry’ while simultaneously broadening is mobile-friendly capabilities to clients in this important sector.
Everi Holdings Incorporated described Venuetize Incorporated as a developer of mobile-friendly technologies that provide sports, hospitality and entertainment operators with ‘an advanced guest engagement and m-commerce platform.’ The New York-listed buyer went on to proclaim that the pioneer allows customers to ‘elevate the guest experience’ within their venues and ‘strengthen their mobile channel engagement’ for further revenue opportunities.
Randy Taylor serves as the President and Chief Executive Officer for Everi Holdings Incorporated, which was previously known as Global Cash Access Holdings Incorporated, and he used the press release to declare that this transaction is expected to close ‘within 30 days subject to customary conditions.’ The experienced figure moreover noted that this deal is being funded from existing cash reserves and will additionally involve the incorporation of Venuetize Incorporated’s experienced team of developers.
Read a statement from Taylor…
“This acquisition will, for the first time, expand our 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. The complementary assets and established customer base of Venuetize Incorporated being acquired together with our existing financial access and loyalty products are expected to enable further growth into additional entertainment, sports and hospitality venues and also to create new crossover marketing opportunities with our existing customers.”
For his part and the Chief Executive Officer for Tampa-headquartered Venuetize Incorporated, Jon Romm, detailed that his company’s technology is already being utilized by almost 100 venues around the world as well as more than 50 teams competing in nine professional sports leagues including the National Basketball Association (NBA), Major League Soccer (MLS) and Major League Baseball (MLB). He furthermore asserted that these advances permit such associates ‘to build connected fan and guest communities through enhanced mobile engagement’ and will now allow Everi Holdings Incorporated to accelerate the growth of its ‘mobile wallet and loyalty offerings’ via the utilization of ‘an expanded array of new mobile products and integrations.’
A statement from Romm read…
“I am thrilled at the opportunity to bring our expertise and leading solutions to the evolving mobile landscape in gaming. The knowledge and experience that our team has gained in delivering seamlessly integrated and complex mobile-first platforms to stadiums and other venues will readily create an encompassing fabric to strengthen guest engagement across any gaming enterprise.”