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Everi Announces Successful Completion of Term Loan Repricing

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LAS VEGAS, Feb. 02, 2021 (GLOBE NEWSWIRE) — Everi Holdings Inc. (NYSE: EVRI) (“Everi” or the “Company”), a premier provider of land-based and digital casino gaming products, financial technology and player loyalty solutions, today announced that it successfully completed the repricing of its $735.5 million First Lien Term Loan under its Credit Agreement as amended February 2, 2021 (the “Credit Agreement”).

Under the amended Credit Agreement, the LIBOR and Base Rate floor components of the interest rate applicable to the First Lien Term Loan were reduced by 25 basis points to 0.75% from 1.00% and to 1.75% from 2.00%, respectively. The LIBOR and Base Rate margins applicable to the First Lien Term Loan remain unchanged at 2.75% and 1.75%, respectively. The amended Credit Agreement includes six months of 101 soft call protection. The maturity of the First Lien Term Loan remains May 9, 2024, and no changes were made to the financial covenants or other debt repayment terms.

Jefferies acted as advisor and sole lead arranger for this amendment to the Credit Amendment.

“This repricing of our First Lien Term Loan reflects the tremendous progress we are achieving with strengthening our operating results,” said Mark Labay, Executive Vice President and Chief Financial Officer of Everi. “At current rates and with our existing balance on the First Lien Term Loan outstanding, the 25-basis-point reduction in our LIBOR floor is expected to generate cash interest rate savings of $1.8 million on an annualized basis. This repricing provides another important improvement to our capital structure following similar activities over the past few years that have significantly lowered the weighted average interest rate on our outstanding debt obligations. These savings improve our ability to generate Higher Free Cash Flow in future periods, providing opportunities for incremental deleveraging and the creation of new value for our shareholders.”

About Everi

Everi (NYSE: EVRI) is a leading supplier of imaginative entertainment and trusted technology solutions for the casino and digital gaming industry. Everi’s mission is to transform the casino floor through innovative gaming and financial technology and loyalty solutions. With a focus on both land-based and digital gaming operators and players, the Company develops entertaining games and gaming machines, gaming systems and services that facilitate memorable player experiences, and is a preeminent and comprehensive provider of financial products and services that offer convenient and secure cash and cashless-based financial transactions, self-service player loyalty tools and applications, and intelligence software and other intuitive solutions that improve casino operational efficiencies and fulfill regulatory compliance requirements. Everi provides these products and services in its effort to help make customers even more successful. For more information, please visit www.everi.com, which is updated regularly with financial and other information about the Company.

Cautionary Note Regarding Forward-Looking Statements

This press release contains “forward-looking statements” as defined in the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding the anticipated benefits to the Company and its shareholders of the amended First Lien Term Loan.

The forward-looking statements in this press release are subject to additional risks and uncertainties, including those set forth under the heading “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our filings with the Securities and Exchange Commission (the “SEC”), including, without limitation, our Annual Report on Form 10-K for the fiscal year ended December 31, 2019 filed with the SEC on March 2, 2020 and subsequent periodic reports, and are based on information available to us on the date hereof.

These cautionary statements qualify our forward-looking statements and you are cautioned not to place undue reliance on these forward-looking statements. Any forward-looking statement contained herein speaks only as of the date on which it is made, and we do not intend, and assume no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This press release should be read in conjunction with our most recent reports on Form 10-K and Form 10-Q, and the information included in our other press releases, reports and other filings with the SEC. Understanding the information contained in these filings is important in order to fully understand our reported financial results and our business outlook for future periods.

CONTACTS

Investor Relations  
Everi Holdings Inc.
William Pfund
SVP, Investor Relations
702-676-9513 or [email protected]
JCIR
Richard Land, James Leahy
212-835-8500 or [email protected]

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

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GGPoker Unveils $24M End Of Year Giveaway – Celebrate December with Over $24 Million in Prizes!

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December 1 through 31 – GGPoker to say #Thanks2024 with ticket drops, daily rewards and more

GGPoker, the World’s Biggest Poker Room, is excited to announce its $24M End of Year Giveaway, an extraordinary month-long festival running from December 1 to December 31, 2024. Packed with giveaways, tournaments, and rewards, the promotion is designed to delight players of all levels and close out the year in style.

The $24M prize pool includes the following highlights:

  • $1M Paradise Online Ticket Drops: Randomly distributed tournament tickets during the upcoming WSOP Paradise Online series
  • $12M 12 Days of Christmas Gift Boxes: Daily rewards for players logging in from December 15 to December 26
  • $1M End of Year #Thanks2024 Flipout Tournament: A fast-paced, unique event running December 27 to December 31
  • $10M December Cash Game Giveaway: Monthly leaderboards and promotions across GGPoker’s popular poker variants, plus $2.5M in GGCare & GGCheers rewards and $1M in bonuses for new players joining GGPoker in December

$1M Paradise Online Ticket Drops

Players participating in WSOP Paradise Online tournaments – running December 1 through December 15 – will automatically get a shot at winning one of $1M worth of tournament tickets, which will be dropped randomly as each event plays out. These tickets can be used to access some of the most exciting tournaments in the WSOP Paradise Online series, offering a shot at major prize pools.

$12M 12 Days of Christmas Gift Boxes

From December 15 to December 26, every player who logs in will receive a daily Christmas Gift Box. These festive surprises include:

  • C$ Rewards
  • Tournament Tickets
  • Daily $100K Freeroll Tickets
  • Sit & Go Tickets
  • Snow Splash Items

Unwrapping a new surprise every day ensures that the holiday season is both fun and rewarding for GGPoker players.

$1M End of Year #Thanks2024 Flipout Tournament

To wrap up the year, GGPoker will host its #Thanks2024 Flipout Tournament, running from December 27 to December 31 and open to all GGCheers and GGCares qualifiers during this time. This fast-paced, unique format automatically pushes every player all-in each hand, creating an adrenaline-fueled path to big prizes. Qualifying is simple, and the players that make it through to Stage 3 will share in a $1M prize pool.

$10M December Cash Game Giveaway and more!

GGPoker’s popular monthly leaderboards will distribute $6.5M in prizes across multiple game variants, including:

  • Rush & Cash
  • Omaha
  • All-In or Fold
  • Short Deck Poker

Another $2.5M will be awarded through the long-running GGCare & GGCheers promotions, which reward players for bad beats, coolers, and lucky moments alike. Additionally, new players joining in December can claim up to $1M in bonuses, including welcome packages and daily freerolls.

“2024 has been an incredible year, and we couldn’t think of a better way to celebrate than by giving back to our players,” said Sarne Lightman, Managing Director of GGPoker. “With over $24M in prizes, including tournament tickets, cash giveaways, and festive rewards, the End of Year Giveaway ensures that every player, whether they’re seasoned grinders or just starting out, has the chance to finish the year on a high note. It’s our way of saying thank you and welcoming even more players to the GGPoker family!”

For full details about the $24M End of Year Giveaway, including terms and conditions, please visit: ggpoker.com/promotions/2024-end-of-year-giveaway/

The post GGPoker Unveils $24M End Of Year Giveaway – Celebrate December with Over $24 Million in Prizes! appeared first on European Gaming Industry News.

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GIANTX announces its Valorant team for 2025

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Westside, Runner, and Tomaszy join Purp0 and Cloud to aim for a return to the top of one of the most prestigious international esports competitions

The global esports organization GIANTX has unveiled its new Valorant team for the 2025 Valorant Champions Tour (VCT). The primary goal is to qualify for the Valorant Champions, the world championship that will take place in Paris, after an uneven 2024 season.

The roster includes Cloud, Purp0, Westside, Runner, and Tomaszy. Cloud and Purp0 remain with the organization, while Westside, Runner, and Tomaszy are new additions.

  • Cloud will take on the role of in-game leader (IGL).
  • Purp0 will continue to bring his ability to perform in key situations.
  • Westside joins from Diamant Esports and makes his debut at the highest level.
  • Runner, previously with Team Vitality, played in the 2024 world championship.
  • Tomaszy, formerly of Rebels Gaming and Karmine Corp, also joins the project.

The coaching staff will be led by Pipson, with Waylander as assistant coach. Both bring extensive experience from the competitive scenes of Valorant and Counter-Strike.

The EMEA region will feature 12 teams in the 2025 VCT:

  • GIANTX,
  • Fnatic,
  • Natus Vincere,
  • Team Liquid,
  • KOI,
  • Team Heretics,
  • Apeks,
  • BBL Esports,
  • FUT Esports,
  • Gentle Mates,
  • Karmine Corp,
  • and Team Vitality.

The official competition kicks off in January with the Kickoff Tournament, where teams will compete for a spot at the first international event of the year: Masters Bangkok.

This weekend, GIANTX will participate in the preseason tournament Intel Monsters Reloaded 2024 in Istanbul.

Their first opponent will be Team Liquid on Saturday at 6:00 PM. If they win, they will face the winner of the match between BBL Esports and SuperMassive in the final.

 

 

The post GIANTX announces its Valorant team for 2025 appeared first on European Gaming Industry News.

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Sportradar Launches Gen AI Audio Advertising for Sportsbook and Casino Operators

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Sportradar announced the launch of generative AI (gen AI) audio, a new feature within its ad:s multi-channel marketing service. The tool leverages the power of gen AI integrated with Sportradar’s live data, to automate the creation of personalized, real-time audio adverts for sportsbook and casino operators across one of the fastest growing digital marketing channels globally.

Ad:s gen AI audio provides operators with a ready-to-use audio marketing solution, allowing them to generate creative content during key sporting and gaming moments to efficiently scale advertising efforts into podcast streaming services and internet radio networks. Sportradar’s industry-leading technology automatically creates customised and dynamic adverts – featuring live-data to update odds, jackpots, and upcoming events— to increase brand awareness, uplift purchase intent and increase the likelihood of customer acquisition.

AI-generated audio adverts are the latest addition to Sportradar’s comprehensive, industry-leading, end-to-end marketing services, driving brand awareness, acquisition and retention across channels including programmatic display, video, audio, digital-out-of-home (DOOH), paid social media, paid search, sponsorships and affiliate marketing.

Niki Beier, SVP Marketing Services, said: “Sports fans and bettors are increasingly consuming audio content, with listenership increasing by over 1000% in the past seven years1. To deliver maximum marketing efficiency, we’re providing a sophisticated yet simple-to-use solution to sportsbook and casino operators. Through our gen AI technology, we’re making it easy for clients to integrate audio adverts into their acquisition and branding campaigns, to reach more customers with real-time relevant audio messages, without the need for creative teams or a high production budget.”

The post Sportradar Launches Gen AI Audio Advertising for Sportsbook and Casino Operators appeared first on European Gaming Industry News.

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