Micro Gaming Technologies’s Acquisition Of Everi Payments

Holland & Hart represented Las Vegas-based Micro Gaming Technologies Inc. (MGT).

Everi Holdings Inc. (NYSE: EVRI), a premier single-source provider of gaming products, financial technology and player loyalty solutions in the gaming industry, today announced that its wholly owned subsidiary Everi Payments Inc. has acquired certain strategic assets of Micro Gaming Technologies Inc., a privately owned provider of self-service casino loyalty and marketing products and promotional tools and apps. MGT’s products, software and technologies for casino operators represent an attractive, complementary addition to Everi’s portfolio of FinTech products and services. The acquisition also provides Everi with a portfolio of customer locations where MGT’s solutions are currently installed, including at properties of many key Everi customers.

Under the terms of the transaction, Everi acquired certain assets of MGT for an initial payment at the time of closing of $15 million, with a further $5 million to be paid April 1, 2020 and $5 million on December 24, 2021. Everi expects to fund the acquisition from existing cash on hand and future cash flow.

The Holland & Hart team was led by David Garcia (Picture) and included, among others, Lori Argall, Adam Cohen, Dmetri Culkar, Sanna Deerrose, John Ludlum, Christopher Myers, Lindsay Silber, Trent Timmons, and Elliot Weiss.

Involved fees earner: Adam Cohen – Holland & Hart LLP; Sanna Deerrose – Holland & Hart LLP; David Garcia – Holland & Hart LLP; John Ludlum – Holland & Hart LLP; Christopher Myers – Holland & Hart LLP; Lindsay Silber – Holland & Hart LLP; Trent Timmons – Holland & Hart LLP; Elliot Weiss – Holland & Hart LLP;

Law Firms: Holland & Hart LLP;

Clients: Micro Gaming Technologies Inc;

Author: Ambrogio Visconti