Canada
Everi Holdings to Acquire Assets of Video King
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 Gaming, Liquor and Cannabis (AGLC) has announced the appointment of Larry Spagnolo as the new Board Chair, effective August 15, 2025. This announcement follows the official Order in Council issued by the Alberta Government and marks a new chapter in AGLC’s ongoing commitment to support communities, encourage responsible choices and position Alberta as the best place to do business.
Larry brings a wealth of experience in technology and business leadership to the AGLC Board and will play an integral role in guiding AGLC’s strategic direction. He is currently serving as VP and GM of Emerson’s SaaS SCADA business and has held senior roles at Zedi and Telus, driving innovation, growth, and global success.
A strong advocate for education and community, Larry serves as Vice Chair of Athabasca University’s Board of Governors and has held board roles with NAIT and Polytechnics Canada. He was awarded the King Charles III Coronation Medal for his community contributions.
AGLC and the Board of Directors extend their heartfelt thanks to Len Rhodes for his leadership and dedication as Board Chair since August 2019. He decided not to seek a third term and will continue to serve in this role until August 14, 2025. Len led AGLC through some significant milestones, including reducing red tape by 51%, growth of the emerging cannabis industry and ensuring AGLC delivered a balanced approach to business development, social responsibility, and regulatory oversight.
The post AGLC Announces New Board Chair appeared first on Gaming and Gambling Industry in the Americas.
EveryMatrix has expanded its partnership with tier-1 operator Pinnacle powering its new casino in Ontario, Canada, using CasinoEngine platform technology – the first time its platform solution has gone live in North America.
The latest agreement builds on the two companies’ previous collaboration that saw EveryMatrix’s CasinoEngine productivity platform power the well-known brand’s global casino offering.
The new launch takes the relationship to North America, marking EveryMatrix’s debut CasinoEngine platform integration in that market.
BonusEngine, EveryMatrix’s cross-vertical bonusing tool will be integrated in the second phase of launch. This will equip Pinnacle Ontario with a host of bonus types as well as AI-powered bonus abuse solution Bonus Guardian.
BonusEngine is the first of multiple engagement tools from EveryMatrix’s EngageSuite that Pinnacle plans to integrate.
With this comprehensive toolkit at its disposal, and the opportunity to add even more casino products in the future, Pinnacle Ontario can tailor campaigns, segment audiences, and reward players more effectively, creating a world-class digital entertainment experience for its customers.
EveryMatrix has more than 300 global customers and holds North American licences in Ontario, New Jersey, Michigan, West Virginia, Connecticut and Pennsylvania.
Stian Enger Petersen, CEO, Casino, EveryMatrix, said: “This launch marks a key milestone for EveryMatrix as we bring our market-leading CasinoEngine platform to Canada for the first time.
“We’re delighted to expand our partnership with Pinnacle and support their ambitions in Ontario with a powerful combination of platform, content, and engagement tools that are proven to drive success.”
The post Pinnacle Ontario live with CasinoEngine in North America debut appeared first on Gaming and Gambling Industry in the Americas.
As CEO of Prime Skill Games Inc., I feel compelled to address recent comments made by the Alcohol and Gaming Commission of Ontario regarding so-called unapproved gambling machines in convenience stores across the province.
Let me be perfectly clear
Our machines are not gambling devices. They are entirely skill-based, fully compliant with the law, and built on the fundamental idea that players are in control. The outcome of every session is determined solely by the player’s ability, not by random chance.
Prime Skill Games is proud to be the only true skill game operating in Ontario today.
We categorically reject any suggestion that our products fall under the definition of unregulated gambling. Such statements are inaccurate, misleading, and fail to recognize the critical distinction between games of skill and games of chance.
We stand firmly behind the legality of our machines and the integrity of our operations. We will demonstrate this through every available means, whether through legal documentation, expert analysis, or, if necessary, before the courts. We are prepared and unafraid to defend the truth.
To our players, partners, and business community, we want to reassure you that our mission has not changed. We are committed to offering a responsible, transparent, and innovative entertainment experience. We will not be intimidated by broad and baseless accusations, and we will continue to move forward with strength and clarity.
Sincerely
Matt Zamroźniak
Chief Executive Officer
Prime Skill Games Inc.
The post Prime Skill Games Inc. Official Response to AGCO Press Release appeared first on Gaming and Gambling Industry in the Americas.
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