Connect with us
728x90 banner available here

Latest News

Everi Announces Successful Completion of Term Loan Repricing

Published

on

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.

Continue Reading
Advertisement
Prague Gaming & TECH Summit 2025 (25-26 March)
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Latest News

Jelly, True Rippers BGMI star, speaks out against cyberbullying: calls for a safer, more respectful ecosystem

Published

on

Reading Time: 2 minutes

 

Jelly, one of India’s leading Battlegrounds Mobile India (BGMI) athletes, representing Infinix True Rippers, has issued an appeal to the esports community to stand against cyberbullying and threats in the esports ecosystem.

Following the BMPS 2025 Semifinals 2, where Jelly was performing with the sole goal of helping his team qualify for the grand finals, the player faced a wave of online hate, including abusive messages and death threats, all for eliminating a rival and his former team.

In a heartfelt statement, Jelly explained: “I am here to qualify just like every other team. If there is a fight against GodLike, I cannot just put my guns down and I also don’t know who is in front of me. Every team on this stage is here to play for victory. I wanted both teams to qualify, theirs and mine, but because of mistakes, neither of us made it. It is not because of one fight alone that things went wrong.”

Jelly also condemned the personal attacks he has faced and appealed for a safer esports ecosystem:

“No player deserves hate or threats for doing their job and competing. We put in countless hours to train, just like any athlete in any sport. We need to stand for fair, safe, and respectful esports, without fear of abuse.”

With esports continuing to grow as a mainstream sport in India, the need for stronger measures to protect players from cyberbullying and online harassment is more crucial than ever. Jelly emphasized that athletes, content creators, and fans deserve a positive, supportive environment to thrive.

The 24-year-old pro has pledged to use his platform to promote safe gaming practices and challenge toxic behavior within the gaming community.

Infinix True Rippers, the team Jelly represents, also extended their support to his statement, reiterating their commitment to building a culture of fairness, mental well-being, and respect in Indian esports.

 

The post Jelly, True Rippers BGMI star, speaks out against cyberbullying: calls for a safer, more respectful ecosystem appeared first on European Gaming Industry News.

Continue Reading

Latest News

Optimove Ignites APAC Expansion with Leading iGaming Operators Joining Platform

Published

on

Reading Time: 2 minutes

 

Magency Life, WeClub Malaysia, and 2up.io sign on following Optimove’s regional launch

Optimove, the creator of Positionless Marketing and the #1 Player Engagement Platform in iGaming, today announced that three leading APAC iGaming operators: Magency Life, WeClub Malaysia, and 2up.io have selected Optimove as their player engagement platform. This follows the company’s formal launch of operations in Asia-Pacific and underscores its momentum in the region.

The announcement comes immediately after Optimove’s appointment of iGaming veteran Jack Wheeler to head the APAC region. Wheeler and team are driving regional growth and supporting operators in scaling player engagement strategies through data, personalization, and AI-driven orchestration.

“Our rapid adoption in the region is validation that iGaming operators in APAC are forward thinking, with a deep commitment to meaningful player engagement,” said Jack Wheeler, Senior Account Executive and Head of APAC. “Optimove’s ability to empower operators that embrace Positionless Marketing to increase marketing efficiency by 88% is ushering the APAC iGaming industry into an era where real-time marketing execution is scalable.”

Optimove’s Positionless Marketing Platform gives marketing teams the power to independently launch and optimize campaigns across channels without waiting on engineering, creatives, or analysts.

The company’s Optimove Ignite+ program, played a key role in accelerating adoption across the region. The comprehensive program is designed to accelerate growth for emerging iGaming and sports betting operators. It offers exclusive access to Optimove’s #1 Player Engagement Platform, along with expert CRM guidance, actionable insights, and proprietary industry benchmarks. Optimove Ignite+ empowers operators to enhance player engagement, improve marketing efficiency, and scale efficiently in a highly competitive market.

“These partnerships mark a major step forward in our mission to help operators across APAC build deeper, longer-lasting relationships with their players,” said Motti Colman, VP of Revenue at Optimove. “It underscores that Positionless Marketing, and its ability to free marketers to execute personalized player journeys without bottlenecks, is a key to growth in competitive markets. We’re honored to be chosen.”

With regional operators facing rising competition and evolving player expectations, Optimove provides the tools to act instantly on data, deliver personalized experiences, and drive lifetime value all from a single, AI-powered platform.

 

The post Optimove Ignites APAC Expansion with Leading iGaming Operators Joining Platform appeared first on European Gaming Industry News.

Continue Reading

Latest News

PepsiCo Returns as Main Partner of the Esports World Cup 2025

Published

on

Reading Time: 2 minutes

 

PepsiCo brings back Pepsi and introduces Mountain Dew, energising the global gaming community at the world’s largest esports event.

The Esports World Cup Foundation (“EWCF”) today announced its renewed partnership with PepsiCo, establishing Pepsi and Mountain Dew as Main Partners of the Esports World Cup 2025, set to take place this summer in Riyadh, Saudi Arabia. With Pepsi and Mountain Dew joining the EWC, both iconic beverages will fuel and energize the worldwide gaming community.

The renewed partnership marks the continued expansion of PepsiCo’s footprint in gaming and a bold step forward in delivering world-class experiences to fans in Riyadh and around the globe.

Following its debut as a Founding Partner in 2024, Pepsi returns to the Esports World Cup with an expanded presence across the 2025 festival. Activations will include immersive fan zones, large-scale product sampling, and co-branded content with artists, creators, and players.

Mountain Dew, joining as a Main Partner for the first time, is levelling up players’ game in EWC 2025 to EWC 2025. A long-standing supporter of gaming, the brand will deliver immersive on-site experiences, exclusive merchandise drops, and branded competitions that resonate from grassroots to pro. With a digital-first campaign themed “Dew levels up your game,” Mountain Dew will activate across KSA social channels, broadcast, and festival touchpoints — reinforcing its ambition to lead in gaming culture and power the next generation of players.

Both brands will feature prominently throughout the event — from the Opening Ceremony to hospitality areas — with branded fridges and product placement across esports venues, the Players’ Lounge, and festival grounds, uniting music, gaming, and entertainment to deliver high-energy fan experiences.

Mohammed Al Nimer, Chief Commercial Officer at Esports World Cup Foundation, said: “We’re excited to have Pepsi and Mountain Dew back as Main Partners for the second year. These are brands that truly get gaming and its fans. With their support, this year’s Esports World Cup will be an even bigger celebration of community and creativity”

Returning to Riyadh, Saudi Arabia, from July 7 to August 24, 2025, the Esports World Cup will unite global gaming communities for a celebration of esports culture. With 25 tournaments across 24 games, 2,000 elite players, and 200 Clubs from over 100 countries, the EWC will feature the largest prize pool in esports history, over $70 million. Fans can expect exclusive experiences, from high-stakes competition to live music, anime cafes, retro arcades, cosplay, and more, drawing millions of fans online and in person.

To learn more about EWC, visit esportsworldcup.com and follow Esports World Cup Foundation on LinkedIn.

 

The post PepsiCo Returns as Main Partner of the Esports World Cup 2025 appeared first on European Gaming Industry News.

Continue Reading

Trending

EEGaming.org is part of HIPTHER, parent brand of various prominent news outlets and international conferences. These platforms and events span a wide range of industries, including Entertainment, Technology, Gaming and Gambling, Blockchain, Artificial Intelligence, Fintech, Quantum Technology, Legal Cannabis, Health and Lifestyle, VR/AR, eSports, and several others. This indicates that EEGaming.org is part of a larger network that focuses on a diverse array of sectors, particularly those related to cutting-edge technology and modern lifestyle trends.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2025 HIPTHER. All Rights Reserved. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.