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Everi Holdings to Acquire Assets of Video King

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Everi Holdings announced that it has entered into a purchase agreement to acquire certain assets of VKGS LLC (Video King), a privately-owned leading provider of integrated electronic bingo gaming tablets, video gaming content, instant win games, and systems for cash consideration of approximately $59 million to be paid at closing, subject to customary net working capital adjustments.

Everi expects to complete the transaction within 60 days, subject to customary closing conditions. The acquisition, which will include the majority of Video King’s assets, will be funded from existing cash on hand and is expected upon closing to be immediately additive to the Company’s Adjusted EBITDA and Free Cash Flow.

The acquisition is expected to provide Everi with complementary assets and an established customer base to enable additional growth in its Games segment. Currently licensed in approximately 60 jurisdictions, Video King is expected to expand the addressable market for Everi’s player-popular digital gaming content. Subject to regulatory requirements, an estimated 20% of Video King’s installed base of portable e-gaming tablets may be enabled to provide players with traditional bingo games and Class II video poker, slots and instant win games, as well as with a digital wallet and loyalty products. Video King generated revenue of more than $25 million in 2022, primarily from recurring revenues generated by an installed base of more than 50,000 portable electronic bingo tablets in tribal casinos, commercial casinos, charitable bingo halls, military bases and cruise lines, as well as from the sale of traditional bingo equipment and consumable products.

“Over the past several years, we have had great success with executing on acquisitions that grow our product capabilities and the markets we serve. During this time, we have established a track record of successfully scaling up acquisitions that have delivered an attractive return on investment and helped drive strong cash flow. We are highly confident that by helping to elevate our current Games, FinTech and Digital solutions with and adjacent to our established customer base, the acquisition of Video King will meet those same criteria and offer Everi with another lever for growth,” Randy Taylor, Chief Executive Officer of Everi, said.

“Video King provides Everi with an expansive new channel to deploy our growing catalog of digital iGames, as well as enhance the player experience by incorporating our digital wallet and loyalty products, while adding a new source to generate recurring revenue. With an expanding demographic audience looking to engage in increased social and leisure activities, we see a significant opportunity to collaborate with the Video King team to develop new gaming content and play enhancements to optimize player engagement and drive increased customer traffic,” said Tim Richards, Everi Executive Vice President, Chief Strategy and Digital Officer.

“We are confident that as part of Everi, Video King will be in a very strong position to expand our product offerings to provide our long-time loyal customer base new enhanced games for our tribal, charitable and military markets. The combination of Everi’s games and other digital offerings with our strong electronic bingo base create a unique opportunity to accelerate future growth,” said Tim Stuart, Chief Executive Officer and co-founder of Video King.

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Alberta iGaming Corporation

Alberta iGaming Corporation Partners with Responsible Gambling Council

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The Alberta iGaming Corporation (AiGC) has announced a partnership with the Responsible Gambling Council (RGC) that will make RG Check accreditation a mandatory requirement for all internet gaming (iGaming) sites entering Alberta’s regulated market.

This collaboration demonstrates Alberta’s commitment to player protection by ensuring every regulated operator meets the highest evidence-based standards for responsible gambling.

“Alberta is committed to building a safer, regulated iGaming environment where player protection comes first. By requiring RG Check accreditation, we’re ensuring that every iGaming operator in our market has demonstrated their commitment to player safety through independent verification of their responsible gambling programs,” said Dan Keene, Interim AiGC CEO.

RG Check is a Canadian-made, globally trusted, independent responsible gambling accreditation program. Developed by RGC more than a decade ago, RG Check evaluates sites against rigorous, evidence-based standards, covering governance, player safeguards, staff training, and marketing practices. The accreditation provides clear, measurable accountability and has become the gold standard for responsible gambling across multiple jurisdictions.

“This partnership with AiGC demonstrates the power of regulators and responsible gambling experts working together to protect players from day one. Alberta is building on a strong foundation established in Ontario, where RG Check has proven its value in creating safer gambling environments. This proactive approach ensures that player protection isn’t an afterthought; it’s built into the market from the ground up,” said Sarah McCarthy, CEO of RGC.

Alberta’s requirement will ensure that:

• All iGaming sites must achieve RG Check accreditation

• Operators must maintain their accreditation in good standing while operating in Alberta

• RGC will conduct assessments based on internationally recognized responsible gambling standards

• AiGC will work closely with RGC to ensure ongoing compliance and continuous improvement.

Requiring accreditation in Alberta’s market reflects AiGC’s commitment to promoting responsible gambling, and will create a level playing field where protecting players is a competitive advantage, not just a compliance checkbox.

For operators who currently hold RG Check accreditation in another jurisdiction, the transition to Alberta will be streamlined. While a distinct Alberta accreditation is still required, existing accreditations will be recognized to simplify the process and reduce costs. Operators will benefit from an efficient onboarding process that reduces administrative burden while maintaining the same rigorous standards for player protection.

The post Alberta iGaming Corporation Partners with Responsible Gambling Council appeared first on Americas iGaming & Sports Betting News.

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St8 launches in Ontario through partnership with Tonybet

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Casino games aggregator and full-service technology provider, St8 has officially gone live in Ontario’s regulated market through a new partnership with international brand Tonybet.

Through the partnership, Tonybet gains access to St8’s casino games aggregation platform, offering a wide range of premium titles from leading providers through a single API, alongside bonusing and promotional tools, compliance and licensing solutions, advanced reporting and data capabilities.

Built as a single scalable platform, St8’s products are designed to help operators launch and grow across regulated markets with fast, flexible technology solutions while maintaining full compliance.

The agreement marks a further step in St8’s global growth strategy as the company continues to expand its presence across regulated jurisdictions.

Vladimir Negine, CEO at St8, said: “Going live in Ontario is an important milestone for St8 and reflects our continued commitment to growth in regulated markets. Since receiving our Ontario licence, we have focused on building strong local partnerships and delivering a platform that combines scalability, speed and compliance.

“As a respected international brand, Tonybet shares our commitment to building reliable solutions for regulated markets, and we look forward to working closely together as we continue to expand our presence in regulated jurisdictions worldwide.”

Kiryl Liudvikevich, Head of Product at Tonybet, added: “As we expand our presence in Ontario, it is important for us to work with technology partners that support continued growth while meeting the highest regulatory standards.

“St8’s platform gives us the flexibility to integrate a wide range of content and tools through a single connection, helping us scale smoothly while maintaining a strong focus on player experience.”

St8 continues to lead the way as a partner of choice for regulated markets. In addition to its Ontario licence, the company holds licences in key regulated jurisdictions like the United Kingdom, Sweden and Romania, among others.

The post St8 launches in Ontario through partnership with Tonybet appeared first on Americas iGaming & Sports Betting News.

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Rivalry Corp. Announces Significant Reduction in Operations and Evaluation of Strategic Alternatives

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Rivalry Corp. announced that its Board of Directors has approved a significant reduction in operating activity as the Company evaluates strategic alternatives in respect of its assets and operations.

The Company is engaged in discussions with third parties regarding potential transactions. However, in light of recent performance volatility, the Board has determined to materially reduce the scale of operations while assessing whether a strategic transaction or other alternative can be advanced.

Effective immediately, the Company is implementing substantial cost reductions, including a significant workforce reduction and reduced operating expenditures. The Company has paused player activity on its platform and is facilitating player withdrawals in the ordinary course.

The Company is assessing a range of potential alternatives, which may include asset-level transactions, corporate transactions, restructuring initiatives or other strategic outcomes.

Given the Company’s reduced operating scale and the ongoing evaluation process, there can be no assurance that any strategic alternative will be completed or that operations will continue in their current form.

The post Rivalry Corp. Announces Significant Reduction in Operations and Evaluation of Strategic Alternatives appeared first on Americas iGaming & Sports Betting News.

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