LAS VEGAS, Aug. 12, 2020 (GLOBE NEWSWIRE) — Reflecting the gaming industry’s increased focus on contactless and cashless solutions to facilitate player choice in funding options, Everi Holdings Inc. (NYSE: EVRI) (“Everi” or the “Company”), a gaming industry leader for cash access player funding, highlights its current in-market solutions and its roadmap for near- and mid-term cashless product implementations. Everi’s cashless/contactless solutions, which include products that are already live in casinos and CashClub Wallet®, the Company’s fully cashless integrated mobile solution that is expected to be live in the first casinos in the fourth quarter of 2020, collectively demonstrate the Company’s positioning as an industry innovator and leader for both cash and cashless funding solutions to address the unique needs of the highly regulated gaming industry.
“For almost two decades, our cash access solutions have been at the forefront of innovative player funding technology across the gaming industry,” said Chief Executive Officer Michael Rumbolz. “In 2019, we facilitated more than 115 million transactions that delivered $30 billion of cash to casino floors and generated $165 million in revenue for Everi. We have a large base of casinos and other facilities using our fully integrated FinTech network today, as well as our portfolio of compliance services and loyalty products. We stand ready to leverage the strengths of our current product suite, already live on casino floors, with our deep development pipeline of products and services to enhance our status as provider of choice in the gaming industry well into the future. Our focused innovation and breadth of integrated capabilities enables us to provide casino patrons with a seamless transition to our cashless alternatives, positioning us to meet players’ and casino operators’ preferences, whether players want to select cash or a cashless funding solution.“In the near-term, we expect players’ choice for funding on the casino floor will continue to favor existing cash access solutions, such as ATM withdrawals or cash advances. Going forward, and over time, adoption of cashless and contactless funding solutions will grow, allowing players the ability to move value across gaming and non-gaming venues within our customers’ land-based operations, but also into and out of a casino’s online and sports wagering offerings, and finally back to the patrons’ checking, credit and debit accounts. These bi-directional funding solutions are the hallmark of Everi’s CashClub Wallet ecosystem. Players will have the opportunity to transfer funds into and out of their wallet from the comfort of their own home before arriving at their favorite casino. This will create additional opportunities for new incremental transactions and provide tremendous value for patrons,” added Rumbolz. “By providing cashless options for players, we are creating new revenue opportunities for our customers and Everi. With our superior solutions for cash and cashless funding access, combined with our money transmitter capabilities and our integration with third-party, cashless wagering systems, we’re strategically positioned to provide seamless, cost-efficient back-of-the-house functionality to solve the unique regulatory needs of casino operators – creating a fully integrated, multi-jurisdictional, on premise and online, cashless financial- and loyalty-based ecosystem that will provide compelling value for both casino operators and players.” A Media Snippet accompanying this announcement is available by clicking on the image or link below:
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