EVRI - EVERI to buy Video King assets for $59M

2023-04-11 09:08:53 ET

• Everi ( NYSE: EVRI ) to acquire certain assets of VKGS for cash consideration of ~$59M.
• VKGS is a privately-owned leading provider of integrated electronic bingo gaming tablets, video gaming content, instant win games, and systems.
• The company 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 FCF.
• The acquisition is expected to provide Everi ( EVRI ) with complementary assets and an established customer base to enable additional growth in its Games segment.

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