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Everi Acquires Developer Of Historical Horse Racing Games, Intuicode Gaming

May 03, 2022over 3 years ago

Acquiring Company

Everi Holdings

Acquired Company

Horse Racing Games

gambling & casinosSoftware

Description

Everi Holdings Inc. (NYSE: EVRI) ("Everi" or the "Company"), a premier provider of land-based and digital casino gaming content and products, financial technology and player loyalty solutions, today announced that it has acquired Intuicode Gaming Corporation ("Intuicode"), 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.

Company Information

Company

Everi Holdings

Location

7250 South Tenaya Way

About

Everi Holdings Inc. is a leading provider of gaming and financial technology solutions, offering casino management systems, slot machines, gaming technology, and financial technology services. The company serves customers in the global gaming, financial, and technology markets, providing innovative products and services to enhance the gaming experience and improve operational efficiencies.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed