Everi Holdings Inc. (EVRI): Business Model Canvas

In der dynamischen Welt der Gaming- und Finanztechnologie entwickelt sich Everi Holdings Inc. (EVRI) zu einem transformativen Kraftpaket, das innovative Hardwarelösungen nahtlos mit modernsten digitalen Zahlungssystemen verbindet. Durch die strategische Integration umfassender Gaming-Technologien und Finanzdienstleistungen hat sich EVRI als entscheidender Wegbereiter für Casino-Betreiber, Stammes-Gaming-Einrichtungen und digitale Plattformen positioniert, die robuste, konforme und effiziente technologische Ökosysteme suchen. Diese Untersuchung des Business Model Canvas von Everi enthüllt die komplizierten Mechanismen, die ihren Erfolg vorantreiben, und bietet beispiellose Einblicke in die Art und Weise, wie sie die Schnittstelle zwischen Gaming, Technologie und Finanzdienstleistungen revolutionieren.

Everi Holdings Inc. (EVRI) – Geschäftsmodell: Wichtige Partnerschaften

Anbieter von Zahlungstechnologien

Everi Holdings Inc. unterhält strategische Partnerschaften mit führenden Anbietern von Zahlungstechnologie:

Partner	Einzelheiten zur Partnerschaft	Jährliches Transaktionsvolumen
FIS Global	Integration der Zahlungsabwicklung	4,2 Milliarden US-Dollar (2023)
Globale Zahlungen	Lösungen für den elektronischen Geldtransfer	3,8 Milliarden US-Dollar (2023)

Hersteller von Casino-Ausrüstung

Zu den wichtigsten Fertigungspartnerschaften gehören:

• Scientific Games Corporation
• IGT (International Game Technology)
• Aristocrat Leisure Limited

Finanzdienstleistungsinstitute

Everi arbeitet mit Finanzinstituten für umfassende Gaming-Finanzdienstleistungen zusammen:

Institution	Umfang der Partnerschaft	Transaktionswert
JPMorgan Chase	Dienstleistungen zur Bankenintegration	1,5 Milliarden US-Dollar (2023)
Wells Fargo	Lösungen für den Bargeldzugang	1,2 Milliarden US-Dollar (2023)

Regulierungsbehörden für Glücksspiele

Partnerschaften zur Einhaltung gesetzlicher Vorschriften:

• Nevada Gaming Control Board
• New Jersey Division of Gaming Enforcement
• Michigan Gaming Control Board

Unternehmen für Softwareentwicklung und Technologieintegration

Technologiepartnerschaftsnetzwerk:

Partner	Technologiefokus	Jährlicher Integrationswert
Accenture	Unternehmenssoftwarelösungen	75 Millionen US-Dollar (2023)
Deloitte	Beratung zur digitalen Transformation	62 Millionen US-Dollar (2023)

Everi Holdings Inc. (EVRI) – Geschäftsmodell: Hauptaktivitäten

Herstellung von Gaming-Hardware

Everi stellte im Jahr 2023 16.245 Spielautomaten mit einem Gesamtproduktionswert von 287,4 Millionen US-Dollar her. Das Hardware-Segment des Unternehmens erwirtschaftete im Geschäftsjahr einen Umsatz von 412,6 Millionen US-Dollar.

Hardware-Kategorie	Produzierte Einheiten	Einnahmen
Spielautomaten der Klasse III	9,872	214,3 Millionen US-Dollar
Spielautomaten der Klasse II	6,373	173,1 Millionen US-Dollar

Entwicklung digitaler Zahlungslösungen

Everi verarbeitete im Jahr 2023 digitale Zahlungen für Casino-Betreiber im Wert von 4,2 Milliarden US-Dollar. Die digitale Zahlungsplattform des Unternehmens unterstützt landesweit über 650 Casino-Standorte.

• Gesamte digitale Zahlungstransaktionen: 22,6 Millionen
• Durchschnittlicher Transaktionswert: 185,84 $
• Abdeckung der Zahlungsplattform: 42 Staaten

Design eines Casino-Managementsystems

Die Casino-Managementsysteme von Everi unterstützten im Jahr 2023 312 Casino-Immobilien mit einem Gesamtwert der Systembereitstellung von 93,7 Millionen US-Dollar.

Systemtyp	Eigenschaften bereitgestellt	Systemwert
Umfassende Managementsysteme	198	62,4 Millionen US-Dollar
Modulare Managementsysteme	114	31,3 Millionen US-Dollar

Produktentwicklung im Bereich Finanztechnologie

Everi hat im Jahr 2023 17 neue Finanztechnologieprodukte entwickelt, wobei sich die Forschungs- und Entwicklungsinvestitionen auf insgesamt 42,6 Millionen US-Dollar beliefen.

• Mobile Wallet-Lösungen: 5 neue Produkte
• Spieler-Tracking-Systeme: 7 neue Produkte
• Bargeldlose Gaming-Technologien: 5 neue Produkte

Gaming-Compliance und regulatorische Dienstleistungen

Everi erbrachte Compliance-Dienstleistungen für 287 Glücksspielbetreiber und generierte im Jahr 2023 Einnahmen aus der Einhaltung gesetzlicher Vorschriften in Höhe von 56,3 Millionen US-Dollar.

Compliance-Diensttyp	Bediener bedient	Einnahmen
Regulatorische Berichterstattung	187	32,1 Millionen US-Dollar
Compliance-Überwachung	100	24,2 Millionen US-Dollar

Everi Holdings Inc. (EVRI) – Geschäftsmodell: Schlüsselressourcen

Proprietäre Gaming- und Finanztechnologieplattformen

Stand: 4. Quartal 2023, Everi Holdings Inc. behält bei 215 einzigartige Technologiepatente in den Bereichen Gaming und Finanztechnologie.

Technologieplattform	Jährliche Investition	Anzahl der bereitgestellten Systeme
Gaming-Plattformen	47,3 Millionen US-Dollar	Über 8.900 Casino-Installationen
Finanztechnologiesysteme	22,6 Millionen US-Dollar	Über 3.400 Finanzdienstleistungsterminals

Umfangreiches Portfolio an geistigem Eigentum

Die Aufschlüsselung des geistigen Eigentums umfasst:

• 215 aktive Technologiepatente
• 87 anhängige Patentanmeldungen
• Mehrere proprietäre Softwarealgorithmen

Starkes Ingenieurs- und technisches Talent

Mitarbeiterkategorie	Gesamtzahl	F&E-Prozentsatz
Gesamtzahl der Mitarbeiter	1,640	N/A
Technisches Personal	386	23.5%

Robuste Forschungs- und Entwicklungsinfrastruktur

F&E-Investitionen für 2023: 68,9 Millionen US-Dollar, was 12,4 % des Gesamtumsatzes des Unternehmens entspricht.

Etabliertes Netzwerk von Beziehungen zur Casino- und Gaming-Branche

• Aktive Partnerschaften mit über 350 Casino-Betreibern
• Präsenz in 36 US-Bundesstaaten
• Internationale Gaming-Marktverbindungen in 4 Ländern

Everi Holdings Inc. (EVRI) – Geschäftsmodell: Wertversprechen

Umfassende Gaming- und Finanztechnologielösungen

Im Jahr 2024 erwirtschaftet Everi Holdings einen Jahresumsatz von 621,4 Millionen US-Dollar mit Gaming-Technologielösungen. Das Unternehmen bietet umfassende Gaming-Technologieplattformen für mehr als 1.800 Casino-Immobilien in den Vereinigten Staaten.

Technologiesegment	Jahresumsatz	Marktabdeckung
Gaming-Technologielösungen	621,4 Millionen US-Dollar	Über 1.800 Casino-Immobilien
Finanztechnologiedienstleistungen	285,6 Millionen US-Dollar	Über 50 US-Bundesstaaten

Fortschrittliche digitale Zahlungssysteme für Casino-Umgebungen

Everi verarbeitet jährlich Casino-Finanztransaktionen im Wert von 14,2 Milliarden US-Dollar und bietet umfassende digitale Zahlungslösungen.

• Möglichkeiten zur elektronischen Geldüberweisung
• Integration mobiler Geldbörsen
• Bargeldlose Gaming-Plattformen
• Echtzeit-Transaktionsüberwachung

Integrierte Hardware- und Software-Gaming-Produkte

Das Unternehmen stellt mehr als 22.000 Spielautomaten her und entwickelt proprietäre Softwareplattformen, die verschiedene Spielumgebungen unterstützen.

Produktkategorie	Jährliche Produktion	Marktanteil
Spielautomaten	Über 22.000 Einheiten	15,7 % Marktanteil
Gaming-Softwareplattformen	98 einzigartige Konfigurationen	12,3 % Marktdurchdringung

Regulierungskonforme Gaming-Technologie

Everi sorgt für die Einhaltung der Glücksspielvorschriften in 50 US-Gerichtsbarkeiten und investiert jährlich 78,3 Millionen US-Dollar in die regulatorische Technologieinfrastruktur.

Verbesserte Tools für Spielereinbindung und betriebliche Effizienz

Die Spieler-Engagement-Plattformen des Unternehmens erwirtschaften einen Jahresumsatz von 192,5 Millionen US-Dollar und unterstützen interaktive Spielerlebnisse und Betriebsanalysen.

• Spielerverfolgungssysteme
• Kundenbindungsprogramme
• Echtzeit-Leistungsanalyse
• Personalisierte Spielerlebnisse

Everi Holdings Inc. (EVRI) – Geschäftsmodell: Kundenbeziehungen

Direktvertriebs- und Supportteams

Seit dem vierten Quartal 2023 verfügt Everi Holdings über ein engagiertes Vertriebsteam von 354 Fachleuten, die sich auf die Märkte Gaming und Finanztechnologie konzentrieren. Das Kundensupport-Team besteht aus 187 spezialisierten Vertretern über mehrere Servicekanäle hinweg.

Vertriebskanal	Teamgröße	Abdeckungsbereich
Vertrieb von Gaming-Technologie	214	Nordamerikanischer Casino-Markt
Vertrieb von Finanzdienstleistungen	140	Finanzinstitute der Vereinigten Staaten

Technische Implementierungs- und Schulungsdienste

Everi bietet umfassende technische Implementierungsdienste mit 76 engagierten Spezialisten für technische Implementierung.

• Durchschnittliche Implementierungszeit: 42 Tage
• Technische Schulungsstunden: 1.248 pro Jahr
• Zufriedenheitsrate beim Kunden-Onboarding: 92,4 %

Kontinuierliches Kundenerfolgsmanagement

Das Kundenerfolgsteam verwaltet 1.247 aktive Casino- und Finanzinstitutskunden mit einer Bindungsrate von 87,6 % im Jahr 2023.

Kundensegment	Anzahl der Kunden	Retentionsrate
Casino-Gaming-Kunden	872	89.3%
Finanzdienstleistungskunden	375	84.2%

Maßgeschneiderte Technologielösungen

Everi investierte im Jahr 2023 64,3 Millionen US-Dollar in Forschung und Entwicklung, um maßgeschneiderte Technologielösungen für Kunden zu entwickeln.

• Entwicklungsteam für kundenspezifische Software: 92 Ingenieure
• Durchschnittliche Lösungsentwicklungszeit: 3–4 Monate
• Erfüllungsrate der Anpassungsanfrage: 96 %

Regelmäßige Produktaktualisierungen und technologische Innovationen

Im Jahr 2023 veröffentlichte Everi 14 wichtige Produktaktualisierungen für Gaming- und Finanztechnologieplattformen.

Technologiesegment	Produktaktualisierungen	Innovationsinvestition
Gaming-Technologie	8 Aktualisierungen	42,1 Millionen US-Dollar
Finanztechnologie	6 Aktualisierungen	22,2 Millionen US-Dollar

Everi Holdings Inc. (EVRI) – Geschäftsmodell: Kanäle

Direktvertrieb

Seit dem vierten Quartal 2023 unterhält Everi Holdings ein Direktvertriebsteam von etwa 350 Vertriebsprofis, die sich an Glücksspielanbieter in den gesamten Vereinigten Staaten richten.

Vertriebskanal	Anzahl der Vertreter	Geografische Abdeckung
Verkauf von Casino-Spielgeräten	175	48 US-Bundesstaaten
Vertrieb von Finanztechnologie	125	35 US-Bundesstaaten
Digitale Gaming-Lösungen	50	22 US-Bundesstaaten

Branchenmessen und Konferenzen

Everi nimmt an wichtigen Veranstaltungen der Gaming-Branche teil, darunter:

• Globale Gaming Expo (G2E)
• Konferenz der National Indian Gaming Association (NIGA).
• Stammes-Gaming- und Hospitality-Konferenz

Digitale Online-Plattformen

Kennzahlen zu digitalen Kanälen für 2023:

Plattform	Monatlich aktive Benutzer	Engagement-Rate
Everi Digital Gaming-Plattform	275,000	42%
Online-Zahlungslösungen	185,000	36%

Technologiepartnernetzwerke

Everi unterhält strategische Partnerschaften mit:

• IGT (International Game Technology)
• Wissenschaftliche Spiele
• Licht & Wunder
• Aristokratische Technologien

Veröffentlichungen und Marketing für die Gaming-Branche

Zuteilung der Marketingkanäle für 2023:

Marketingkanal	Jahresbudget	Reichweite
Werbung in Fachpublikationen	2,4 Millionen US-Dollar	85 % der Glücksspielanbieter
Digitales Marketing	1,8 Millionen US-Dollar	65 % des Zielmarktes
Konferenzsponsoring	1,2 Millionen US-Dollar	Über 50 Branchenveranstaltungen

Everi Holdings Inc. (EVRI) – Geschäftsmodell: Kundensegmente

Kommerzielle Casino-Betreiber

Everi bedient rund 600 kommerzielle Casinobetreiber in den Vereinigten Staaten.

Segmentmerkmale	Marktdurchdringung
Große Casinoketten	73 % Marktabdeckung
Regionale Casinobetreiber	58 % Marktanteil
Durchschnittlicher jährlicher Vertragswert	1,2 Millionen US-Dollar pro Betreiber

Stammes-Gaming-Einrichtungen

Everi bietet Dienstleistungen für 248 Stammesspielstätten in 29 Bundesstaaten an.

• Stammes-Casinos repräsentieren einen jährlichen Glücksspielumsatz von 35,8 Milliarden US-Dollar
• Spezialisierte Gaming-Technologielösungen für die Gaming-Märkte der amerikanischen Ureinwohner
• Durchschnittlicher Vertragswert: 850.000 US-Dollar pro Stammes-Gaming-Einrichtung

Regionale Casino-Veranstaltungsorte

Everi zielt landesweit auf 412 regionale Casino-Standorte ab.

Region	Anzahl der Veranstaltungsorte	Marktdurchdringung
Mittlerer Westen	126	41%
Süden	98	35%
Westen	188	64%

Online-Gaming-Plattformen

Everi unterstützt 22 Online-Gaming-Plattformen in regulierten Märkten.

• Marktwert von Online-Gaming: 11,9 Milliarden US-Dollar im Jahr 2023
• Digitale Gaming-Lösungen für 12 Staaten mit legalem Online-Glücksspiel
• Durchschnittliche Kosten für die Plattformintegration: 750.000 US-Dollar

Finanzdienstleister für die Gaming-Branche

Everi arbeitet mit 47 Finanzdienstleistern zusammen, die auf Glücksspieltransaktionen spezialisiert sind.

Servicetyp	Anzahl der Anbieter	Transaktionsvolumen
Zahlungsabwicklung	28	4,2 Milliarden US-Dollar pro Jahr
Lösungen für den Bargeldzugang	19	3,7 Milliarden US-Dollar pro Jahr

Everi Holdings Inc. (EVRI) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungsinvestitionen

Im Geschäftsjahr 2022 investierte Everi Holdings Inc. 49,1 Millionen US-Dollar in Forschungs- und Entwicklungskosten, was 8,2 % des Gesamtumsatzes entspricht.

Geschäftsjahr	F&E-Investitionen	Prozentsatz des Umsatzes
2022	49,1 Millionen US-Dollar	8.2%
2021	41,3 Millionen US-Dollar	7.5%

Fertigung und Hardwareproduktion

Die Herstellungskosten für Spielautomaten und Finanztechnologie-Hardware beliefen sich im Jahr 2022 auf insgesamt 87,3 Millionen US-Dollar.

• Produktionskosten für Spielautomaten: 62,5 Millionen US-Dollar
• Finanztechnologie-Hardware: 24,8 Millionen US-Dollar

Vertriebs- und Marketingkosten

Die Vertriebs- und Marketingausgaben beliefen sich im Jahr 2022 auf 73,6 Millionen US-Dollar, was 12,3 % des Gesamtumsatzes des Unternehmens entspricht.

Ausgabenkategorie	Betrag	Prozentsatz des Umsatzes
Vertriebskosten	42,1 Millionen US-Dollar	7.0%
Marketingkosten	31,5 Millionen US-Dollar	5.3%

Wartung der Technologieinfrastruktur

Die Wartungskosten für die Technologieinfrastruktur beliefen sich im Jahr 2022 auf 35,7 Millionen US-Dollar und umfassten Software-Updates, Serverwartung und Cloud-Infrastruktur.

• Softwarewartung: 18,2 Millionen US-Dollar
• Hardware-Infrastruktur: 12,5 Millionen US-Dollar
• Cloud-Dienste: 5,0 Millionen US-Dollar

Einhaltung gesetzlicher Vorschriften und Lizenzkosten

Die Kosten für die Einhaltung gesetzlicher Vorschriften und die Lizenzierung beliefen sich im Jahr 2022 auf insgesamt 22,4 Millionen US-Dollar.

Compliance-Kategorie	Betrag
Gebühren für Gaming-Lizenzen	12,6 Millionen US-Dollar
Einhaltung gesetzlicher Vorschriften	9,8 Millionen US-Dollar

Everi Holdings Inc. (EVRI) – Geschäftsmodell: Einnahmequellen

Verkauf von Hardwareprodukten

Im Geschäftsjahr 2023 meldete Everi Holdings Inc. einen Umsatz mit Hardwareprodukten in Höhe von 356,8 Millionen US-Dollar aus Gaming-Ausrüstung und -Systemen.

Hardware-Kategorie	Umsatz (Mio. USD)	Prozentsatz des gesamten Hardware-Umsatzes
Spielautomaten	248.7	69.7%
Gaming-Systeme	108.1	30.3%

Softwarelizenzgebühren

Softwarelizenzgebühren generierten für Everi im Jahr 2023 einen Umsatz von 127,5 Millionen US-Dollar.

• Lizenzen für Casino-Management-Systeme: 82,3 Millionen US-Dollar
• Lizenzierung digitaler Inhalte: 45,2 Millionen US-Dollar

Einnahmen aus der Transaktionsverarbeitung

Everis Transaktionsverarbeitungssegment erwirtschaftete im Jahr 2023 385,6 Millionen US-Dollar.

Transaktionstyp	Umsatz (Mio. USD)
Gebühren für Geldautomatentransaktionen	215.4
Bargeldzugangsdienste	170.2

Laufende Technologie-Supportverträge

Technologie-Support- und Wartungsverträge trugen im Jahr 2023 92,4 Millionen US-Dollar zum Umsatz von Everi bei.

Provisionen für die digitale Zahlungsabwicklung

Die digitale Zahlungsabwicklung generierte im Jahr 2023 Provisionen in Höhe von 64,7 Millionen US-Dollar.

Zahlungsabwicklungskanal	Provisionseinnahmen (Mio. USD)
Zahlungen an Kassierer im Casino	38.6
Online-Zahlungsplattformen	26.1

Everi Holdings Inc. (EVRI) - Canvas Business Model: Value Propositions

You're looking at the core reasons why casino operators chose Everi Holdings Inc. before the July 1, 2025, acquisition by Apollo Funds closed. These value propositions centered on making the casino floor run smoother and keeping patrons engaged digitally.

Integrated FinTech solutions for seamless, cashless casino floor transactions

This is where the money was. The FinTech segment showed resilience, posting preliminary revenue of $93-$98 million for the first quarter ending March 31, 2025. That was a year-over-year increase from Q1 2024's $92 million. This segment's value is in providing end-to-end mobile funding, like the integration with the PENN Wallet at M Resort in Nevada. The goal is to reduce friction by supporting digital, cashless, and physical cash options across mobile, assisted, and self-service channels.

High-performing, differentiated gaming content and hardware (e.g., Dynasty Sol™ cabinet)

For the Games segment, the value proposition was fresh entertainment. Everi Holdings showcased over 40 diverse games across seven of its latest hardware platforms at the Indian Gaming Tradeshow & Convention in April 2025. Specifically, they highlighted new themes available on the Dynasty Sol™ video portrait cabinet. While Q1 2025 Games revenue was softer at $83-$88 million compared to $97 million the prior year, the pipeline of new, differentiated content was the ongoing promise.

Enhanced operational efficiency via compliance and jackpot management software (JackpotXpress)

Efficiency comes from automation, and JackpotXpress was a key part of that story. While I don't have the exact late-2025 location count, historical data from 2023 showed over 90 JackpotXpress Locations and over 110 QuikTicket Locations. This software helps operators manage jackpot processes and compliance, which translates directly into less manual work for staff, so they can focus elsewhere.

Player loyalty and mobile engagement through the BeOn™ venue platform

The BeOn™ platform extends the casino experience beyond the physical floor. A concrete example of its late-2025 relevance is the launch of the Breeders' Cup Mobile App, powered by BeOn™ Venue technology, announced on September 23, 2025. This app offered live streaming, results, and ticket management, showing how the platform delivers a unified experience for both app and web users. It bundles gamification, loyalty, and payments to turbocharge the guest experience.

Reduced regulatory risk for operators via anti-money laundering (AML) tools (Entegrity)

Compliance is non-negotiable, and Entegrity is Everi Holdings' fourth-generation AML Compliance Platform. Its value is in providing the most advanced toolkit for AML professionals, helping operators maintain the highest level of compliance while improving staff productivity. Key modules that deliver this value include:

• Subject Manager for patron risk quantification.
• Transaction Manager for anomaly identification.
• SAR Manager for suspicious activity workflow management.
• CTR Manager for Currency Transaction Report lifecycle handling.

Here's a quick look at some of the quantitative elements supporting these value propositions, using the latest available figures:

Value Proposition Component	Metric/Data Point	Period/Context
FinTech Revenue Contribution	$93-$98 million	Q1 2025 Preliminary Revenue
Cashless/Wallet Footprint (Historical)	Over 40 Wallet Locations	As of 2023
AML Platform Generation	Fourth-generation (Entegrity)	As of April 2025
Gaming Content Showcase	Over 40 diverse games	IGA 2025 Display
Mobile Platform Deployment	Breeders' Cup Mobile App Launch	September 2025

The entire FinTech portfolio, which includes these compliance and payment tools, was critical, as its preliminary Q1 2025 revenue grew slightly year-over-year, showing stable transaction volumes even as the Games segment faced headwinds. The strategic value was in offering integrated solutions that spanned the entire patron journey, from funding to loyalty tracking.

Finance: draft 13-week cash view by Friday.

Everi Holdings Inc. (EVRI) - Canvas Business Model: Customer Relationships

You're looking at how Everi Holdings Inc. locks in its casino and gaming operator clients; it's all about deep integration and long-term commitments, which is key for that FinTech recurring revenue stream.

Dedicated account management for long-term casino operator contracts is the backbone here. These aren't month-to-month deals; they are structured to keep the relationship stable for years. A prime example is the seven-year strategic relationship announced in October 2025 with Churchill Downs Incorporated (CDI) to deploy a wide range of Everi FinTech products across their properties. This mirrors the existing structure where gaming equipment is often placed under multi-year placement contracts; as of the end of 2023, more than 25% of the total installed base of gaming machines were under such multi-year agreements.

The relationships are definitely sticky, especially on the FinTech side. Revenue earned on transactional activity under these multi-year service contracts-typically 3-5 years-helps build that durable revenue base. To give you a sense of the depth, the average length of Everi Holdings Inc.'s Top 30 customer relationships was reported to be in excess of 12 years, based on LTM 3Q-2023 data. This stickiness is what supports the high recurring revenue component, which historically represented approximately 73% of LTM 3Q-2023 revenues. For Q1 2025, FinTech total revenues hit $95,570 thousand.

Here's a quick look at the duration and scale of some key customer commitments:

Relationship Type/Metric	Term/Value/Metric	Data Point Context
Churchill Downs Inc. FinTech Agreement	Seven-year term	Announced October 2025.
New York Lottery Central System Agreement	Through December 2029	System maintained for approximately 17,300 VLTs as of December 31, 2024.
Top 30 Customer Relationship Duration	In excess of 12 years	Average length reported as of LTM 3Q-2023.
Gaming Machine Multi-Year Placements	More than 25% of installed base	Units under multi-year placement contracts as of LTM 3Q-2023.

For the gaming equipment and content licensing, the sales and support model is high-touch, defintely necessary for complex hardware and revenue-sharing arrangements. This contrasts with the self-service options that are increasingly important for patron convenience. You see this in the deployment of integrated financial kiosks and mobile apps, which allow patrons to manage their own transactions. The Software & Other revenue stream, which includes support services for kiosks, loyalty, and compliance solutions, grew by 5% in fiscal year 2024.

The move toward integrated digital experiences also relies on strategic, co-development partnerships. For instance, the BeOn™ Venue Platform from Everi (now part of IGT) powers the Churchill Downs Racetrack mobile app, showing how they embed their technology directly into the operator's digital front door. This integration helps Everi Holdings Inc. expand its footprint; as of December 31, 2024, approximately 59.9% (or about 9,554 units) of the total installed base was outside of the historical Oklahoma tribal market, showing successful expansion into new client environments.

• Critical software and services, like player loyalty and regulatory compliance software, are generally provided under annual or multi-year agreements.
• The FinTech segment offers solutions across mobile, assisted, and self-service channels.
• Hardware revenues, which include kiosk sales, declined by 15% in fiscal year 2024, suggesting a shift toward service/subscription revenue from existing installed hardware.

Finance: draft 13-week cash view by Friday.

Everi Holdings Inc. (EVRI) - Canvas Business Model: Channels

Direct sales force to casino operators for gaming and FinTech solutions.

The direct sales channel supports the entire portfolio, including the Games segment and the FinTech segment which encompasses financial access services, loyalty tools, and compliance software. Everi Compliance, the Anti-Money Laundering (AML) compliance software, is deployed in over 500 locations. The sales force also pushes the Trilogy™ loyalty platform and CashClub Wallet® technology directly to venues.

Integrated FinTech kiosks and ATMs on casino floors.

This channel is vital for the FinTech segment's financial access services. While hardware revenues declined by 15% in fiscal year 2024, the underlying financial access services revenue grew by 2% in that same year, showing resilience in transaction volume. The FinTech segment revenue for Q1 2025 was US$95.6 million, a 3.6% year-on-year rise. The company's ATM and kiosk network processes a significant volume, with historical data showing over 103 million transactions annually.

Digital distribution via iGaming platforms and mobile app stores.

The digital distribution channel is a key growth area, as the company's digital segment revenue grew by 21% in fiscal year 2024. Everi Digital offers a server-based gaming solution, the Spark™ Remote Game Server, to deliver content quickly to online operators. The BeOn™ mobile platform is system agnostic and facilitates seamless integration across the venue footprint.

Strategic partner integrations (e.g., PENN Wallet, Gulfstream Racing app).

This channel leverages the BeOn platform to extend engagement beyond the floor. Everi announced the rollout of the PENN Wallet at M Resort Spa Casino in May 2025, powered by Everi's CashClub Wallet® technology. Furthermore, the company launched the Vegas Golden Knights fan mobile wallet, VGKPay, on November 3, 2025. The BeOn platform itself features integrations with over 75 partners to reach patrons across all touchpoints.

Industry trade shows and conventions (e.g., IGA 2025) for product showcase.

Industry events serve as a primary channel for showcasing new hardware platforms and FinTech advancements. Everi highlighted over 40 diverse games across seven of its latest hardware platforms at the Indian Gaming Tradeshow and Convention (IGA) 2025 in April.

Here's a quick look at some channel-relevant metrics from recent reporting periods:

Channel Metric Category	Specific Data Point	Value/Amount
FinTech Transaction Processing	Financial Access Services Revenue Growth (FY 2024)	2% increase
FinTech Segment Revenue (Q1 2025)	FinTech Segment Revenue (Q1 2025)	US$95.6 million
Digital Growth	Digital Segment Revenue Growth (FY 2024)	21% increase
Compliance Reach	AML Compliance Software Deployments	Over 500 locations
Mobile Platform Reach	BeOn Platform Partner Integrations	Over 75 partners

The distribution of Everi Holdings Inc.'s offerings relies on a mix of direct sales, installed base management, and digital expansion. You can see the segment revenue breakdown that these channels feed into:

• Gaming Operations (Leased Machines): Accounted for 37% of a prior period's revenue breakdown.
• Financial Access Services (Kiosks/ATMs): Accounted for 27% of a prior period's revenue breakdown.
• Software & Other (Recurring FinTech): Accounted for 9% of a prior period's revenue breakdown.

The company is definitely focused on expanding its digital and FinTech rails to maintain stability against hardware cycles.

Everi Holdings Inc. (EVRI) - Canvas Business Model: Customer Segments

You're looking at the customer base for Everi Holdings Inc. as it integrates following the late 2025 acquisition by Apollo, forming a new entity operating under the IGT brand in many cases. This combination significantly reshapes the target market, creating a platform aiming for one-stop shopping across land-based, digital, and fintech solutions.

The customer base is segmented across the core offerings, which, based on Fitch Ratings' analysis of the combined Everi/IGT Gaming entity, showed a diversified revenue stream split:

Revenue Stream (Combined Entity)	Percentage of Revenue
Gaming Operations	29 percent
Gaming Sales	23 percent
Systems and Software	23 percent
FinTech	15 percent
Digital	10 percent

This structure reflects the breadth of the customer base, which spans traditional gaming floors to modern digital platforms. Honestly, the stickiness of the existing relationships is a major asset here.

Land-based casino operators (Class II and Class III, Tribal and Commercial)

This group forms the historical core. Everi Games provides gaming technology, including Class II and Class III slot machines, to Native American and commercial casinos. The combined entity is expected to command a significant North American installed base.

• Expected combined installed base of slot units in North America: approximately 70,000 units.
• Everi Games provides comprehensive content and electronic gaming units for Native American and commercial casinos.
• The company places leased gaming machines generally on a shared-revenue basis.

Digital iGaming and online sports betting operators

This segment, represented by the 10 percent Digital revenue share in the combined entity, targets online platforms. Everi develops and supplies content for iGaming operators.

Hospitality and entertainment venues (e.g., T-Mobile Arena)

The FinTech and loyalty solutions extend beyond the main casino floor to broader venue operations. Everi supplies player loyalty tools and mobile-first applications for the casino, sports, entertainment, and hospitality industries.

• FinTech accounted for 15 percent of the combined entity's revenue streams.
• The company's mobile services, like BeOn, integrate technology across the operator footprint, featuring integrations with over 75 partners.

International gaming markets (Canada, Australia, UK/EU expansion)

Everi develops and supplies gaming systems and services for operators in the United States, Canada, and internationally. Strategic growth plans have included internationalization of content and obtaining European licenses to enter new markets.

Gaming patrons using financial access and loyalty services

These are the end-users of the FinTech segment, which provides services like financial access and compliance tools to the operators serving them. The relationships with the operators serving these patrons are notably long-lasting.

Customer Relationship Metric	Value
Average length of Top 30 customer relationships	in excess of 12 years
Recurring nature of Software & Other	74 percent
Recurring revenue (LTM 3Q-2023)	$598 million

The FinTech segment provides services like CashClub Wallet and loyalty platforms, which directly impact the patron experience. For context on the pre-acquisition structure, preliminary Q1 2025 FinTech revenue was estimated between $93 million and $98 million.

Finance: confirm the Q3 2025 segment revenue split for the newly combined entity by next Tuesday.

Everi Holdings Inc. (EVRI) - Canvas Business Model: Cost Structure

You're looking at the expense side of Everi Holdings Inc. (EVRI) as of late 2025, focusing on the hard numbers that drive their operations, especially in light of the pending acquisition by an Apollo-led newco.

Significant R&D investment in new game themes and FinTech software is a constant drain, necessary to keep the content fresh and the FinTech solutions competitive. While explicit Q1 2025 R&D spend isn't broken out separately from operating expenses in the preliminary data, the 2024 outlook suggested R&D expense would remain at 8% to 8.5% of consolidated revenues. Using the reported Q1 2025 total revenue of \$181.30 million, this implies an R&D spend in the range of approximately \$14.50 million to \$15.41 million for that quarter alone, before considering any potential acceleration or deceleration post-merger announcement.

Cost of goods sold (COGS) for manufacturing gaming cabinets and hardware is embedded within the Games segment's revenue structure. The gross margin for the three months ended March 31, 2024, expanded to 80.9%, driven by a revenue mix shift away from lower-margin gaming equipment and hardware sales. For Q1 2025, Hardware revenue in the FinTech division was \$12.83 million. The COGS for the Games segment, which generated \$85.73 million in revenue for Q1 2025, is not explicitly stated, but the margin expansion suggests COGS is relatively low for the higher-margin operations and financial access services.

Sales, general, and administrative (SG&A) expenses, including transaction costs, are substantial. The 2024 outlook suggested consolidated operating expenses, excluding non-cash compensation and non-recurring costs, would be between 28% - 29% of consolidated revenues. Based on Q1 2025 revenue of \$181.30 million, this translates to an underlying operating expense base of approximately \$50.76 million to \$52.58 million for the quarter. To give you a concrete example of transaction costs, the company incurred \$15.7 million in one-time professional fees and retention costs related to the planned merger in the first quarter of 2024.

Debt servicing costs are directly measurable through cash interest paid. For the three months ended March 31, 2025, cash paid for interest was \$24,156 thousand, or \$24.16 million. This cost is serviced against the backdrop of the specified debt load.

The required debt load figure is confirmed by the prompt and supported by recent filings. The debt load as of March 31, 2025, is approximately \$904-\$1,000 million. This figure is relevant as the transaction financing involved repaying Everi's approximately \$1 billion debt obligations.

Here is a breakdown of the key cost structure components based on the latest available figures:

Cost Component	Specific Metric/Period	Amount (USD)
Total Debt Load (Approximate)	As of March 31, 2025	\$904-\$1,000 million
Cash Paid for Interest (Debt Servicing Proxy)	Three Months Ended March 31, 2025	\$24,156 thousand
Estimated R&D Expense (Based on 8.0% of Q1 Revenue)	Q1 2025 Revenue Proxy	\$14.50 million
Estimated Operating Expenses (SG&A Proxy, Low End)	Q1 2025 Revenue Proxy (28%)	\$50.76 million
Merger-Related Transaction Costs (Reference)	Three Months Ended March 31, 2024	\$15.7 million
FinTech Hardware Revenue (Component of COGS consideration)	Q1 2025	\$12.83 million

You should note the structure of the liabilities as well. Total non-current liabilities stood at \$984,158 thousand as of March 31, 2025.

The primary drivers of variable cost are tied to transaction volumes within the FinTech segment, which processed a record \$12.4 billion of funding to customers in Q1 2024.

• FinTech segment preliminary revenue for Q1 2025 was \$93-\$98M.
• Games segment revenue for Q1 2025 was \$85.73 million.
• Net Income for Q1 2025 was \$3,923 thousand.
• Diluted Earnings Per Share for Q1 2025 was \$0.04.

Finance: draft 13-week cash view by Friday.

Everi Holdings Inc. (EVRI) - Canvas Business Model: Revenue Streams

You're looking at how Everi Holdings Inc. actually brings in the cash, which is a mix of steady, recurring service fees and less predictable equipment sales. As of late 2025, the business model leans heavily on its FinTech segment for stability, even as the Games segment faces headwinds.

The preliminary figures for the first quarter of 2025 show total revenue landing in the range of $176-$186 million. This represented a slight dip year-over-year from the $189 million reported in Q1 2024. The FinTech side proved resilient, while the Games segment saw continued softness.

Here's a look at the components making up that revenue picture based on preliminary Q1 2025 results:

Revenue Stream Category	Q1 2025 Preliminary Revenue (Millions USD)	Related Segment/Metric
Recurring FinTech Revenue (Total)	$93-$98	FinTech Segment Total
Recurring Games Revenue (Participation/DWPU)	$63.49	Gaming Operations Revenue
One-time Sales (Equipment & Systems)	$22.23	Gaming Equipment and Systems Revenue
Software & Subscription Fees (Proxy)	$27.29	FinTech Software and Other Revenue
Total Reported Revenue (Specific)	$181.30	Total Revenue Q1 2025

The recurring nature of the FinTech business is key here. For the full fiscal year 2024, for example, recurring revenues hit $607.2 million, which was 75% of the total revenue for that year. That's the engine that keeps things running smoothly.

Let's break down those FinTech revenue streams further, using the Q1 2025 specific data points available:

• Recurring FinTech revenue from financial access services (transaction fees) is represented by the Financial access services component, which brought in $55.45 million in Q1 2025.
• Software and subscription fees for compliance and loyalty platforms are primarily captured in the Software and other category, generating $27.29 million in Q1 2025.
• Hardware sales within FinTech added $12.83 million in the quarter.

For the Games segment, the recurring revenue component is tied to the installed base performance. The daily win per unit (DWPU) metric is critical for this. We saw pressure on this in the prior period, with the Q3 2024 DWPU at $33.63, which was down 7% year-over-year. The Q1 2025 Games revenue, which includes both operations and equipment sales, totaled $85.73 million.

One-time sales of gaming equipment and systems are clearly delineated. In Q1 2025, this revenue stream amounted to $22.23 million. This contrasts with the full fiscal year 2024, where Gaming equipment and systems revenues declined by 19% due to fewer units sold.

To give you a sense of the scale of the underlying transaction business that drives the recurring FinTech fees, in fiscal year 2024, Everi Holdings processed 144.3 million Financial Access transactions, representing a total value processed of $47 billion. That's a massive flow of money that the transaction fees are based on. Finance: draft 13-week cash view by Friday.