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Everi Makes Two Acquistions

Everi Makes Two Acquistions

Everi Holdings Inc. last month made two major deals that strengthen the company’s marketing and HHR efforts.

First, Everi announced that it has acquired certain strategic assets of XUVI, LLC, a privately owned marketing platform provider designed to value, target and engage customers to increase loyalty through immersive data analytics utilizing customer behaviors and artificial intelligence.

XUVI’s marketing platform, BeamStudio, is a cutting-edge technology solution that combines historical and behavioral propensity data to assign a customer’s future value based on their unique characteristics and behaviors. The technology provides real-time predictive and actionable insights to augment marketing with targeted campaigns focused on valued customers.

BeamStudio increases operating efficiencies through data analytics and automation of routine marketing tasks, and optimizes marketing spend by reducing over- and under-reinvestment. BeamStudio is expected to assist Everi’s current QuikMarketing capabilities and leverage consumer data to assist casino marketers and deliver intelligent interactions across all channels, and lay the foundation for highly targeted, cost-effective and successful campaigns to acquire new patrons and strengthen existing customer relationships with precision and insight.

And second, the company announced that it has acquired Intuicode Gaming Corporation, a privately owned game development and engineering firm focused on historical horse racing (HHR) games.

In 2021, Intuicode generated over $10 million in annual revenue from the sale of gaming machines and recurring participation revenue from game theme placements at HHR locations throughout the United States. Intuicode and its experienced HHR game development team provide Everi with additional HHR expertise that will help the company accelerate its entry into and growth in the expanding HHR market.

The acquisition cost includes an initial payment of $12.5 million, with two additional payments based on future revenue to be made on each of the first and second anniversaries of the acquisition’s closing in 2023 and 2024. Total consideration is expected to be $22 million-$27 million, and Everi expects to fund the purchase price from existing cash on hand and future cash flow.