Australia
Everi to Acquire ecash Holdings Pty Ltd.
Everi Holdings has announced that it has entered into an agreement to acquire ecash Holdings Pty Ltd. (ecash), a privately owned, Australia-based developer and provider of innovative cash handling and financial payment solutions for the broader gaming industry in Australia, Asia, Europe and the US.
Ecash’s products and technologies represent a strategic extension of Everi’s current suite of financial technology solutions within the FinTech segment. The acquisition will provide Everi with a complementary portfolio of new customer locations throughout Australia, the US and other geographies. The closing of the transaction, subject to customary conditions, is expected to occur within 60 days.
Everi will acquire ecash for guaranteed payments totaling AUD$33 million, with an initial payment at the time of closing of AUD$20 million (approximately US$14 million) with the remaining payments to be made on each of the first and second anniversaries in 2023 and 2024, respectively, following the date of the transaction’s closing. Subject to achieving certain growth targets, there will be an additional contingent payment of up to AUD$10 million, which could increase the total consideration up to AUD$43 million. Everi expects to fund the total purchase price from existing cash on hand and future cash flow.
“We are pleased to enter into this agreement to acquire ecash and welcome their entire team to Everi upon the closing of the transaction. ecash is a strategic addition to our growing global portfolio that will provide Everi with an entry into the large Australian gaming market thanks to their experienced team, proven product portfolio and established customer base. The acquisition will also provide us with an incremental customer base in certain U.S. and other gaming markets we do not currently serve. Everi has never been better positioned as we continue to successfully execute our strategic growth initiatives,” Randy Taylor, President and Chief Operating Officer of Everi, said.
“The integration of ecash into our robust FinTech portfolio and ability to scale this complementary business represents a significant opportunity to further expand our leadership position in the space and further diversify the markets we serve. We also expect that several of our FinTech and RegTech products, such as our Trilogy Loyalty solutions and Anti-Money Laundering software, will have applicability and add value for Australian gaming operators,” Darren Simmons, Everi’s Executive Vice President and FinTech Business Leader, said.
“We are thrilled by the opportunity to join the gaming industry’s FinTech leader. By integrating ecash’s current products and markets with Everi’s offerings, we will be able to add value across a much wider range of clients and unlock exciting new growth opportunities along the way,” Andre Soussa, Chief Executive Officer of ecash, said.
Subsequent to closing, Mr. Soussa will be employed by Everi in the capacity of Managing Director, Australia.
Network Ten has been found in breach of broadcasting rules after airing gambling advertisements during the australian Formula 1 Grand Prix in March 2024.
An Australian Communications and Media Authority (ACMA) investigation found four gambling ads were aired at prohibited times during a broadcast of the first practice round of the Grand Prix.
Under the Commercial TV Code of Practice (the Code), gambling promotions cannot be shown during broadcasts of sporting events between 5am and 8.30pm, including the five minutes before and after the event.
Authority member Carolyn Lidgerwood said the rules around gambling advertisements on TV are there to protect the community from gambling related harms.
“Broadcasters should have strict controls in place to ensure compliance with the restrictions on gambling ads during sporting events,” Ms Lidgerwood said.
Practice rounds and qualifying rounds for motorsports are subject to the same restrictions on gambling advertising as the main event itself.
This is the first breach by Network 10 of the gambling advertising rules in the Code. During the investigation, Network 10 submitted that the broadcasts occurred due to human error.
Following the ACMA’s breach finding, Network 10 voluntarily improved the planning, checks and balances it has in place for ad scheduling and has, at the ACMA’s request, agreed to review its processes to introduce additional quality controls.
Network 10 will also train staff to avoid similar issues in the future and will provide a written progress report to the ACMA.
In a separate investigation in 2024, the ACMA found that streaming service 10 Play, provided by Network 10, breached online gambling advertising rules during two live-streamed sports events.
“The ACMA will closely monitor these actions and Network Ten’s compliance with the broadcasting and online gambling advertising rules,” Ms Lidgerwood said.
The post Network 10 Breaches Gambling Ad Rules During Formula 1 Grand Prix Broadcast appeared first on European Gaming Industry News.
Picklebet, an Australian-owned and operated digital wagering platform, has become the Official Wagering Partner of Penrith Panthers.
Damon Oudejans, CMO and Co-Founder of Picklebet, said: “We are incredibly excited to partner with the Penrith Panthers, a club that has set the benchmark for excellence both on and off the field.
“Picklebet and the Panthers share a passion for innovation, and a commitment to delivering premium experiences to fans. This partnership is more than just branding—it’s about creating engaging, digital-first activations that bring supporters closer to the game they love.”
To kick-start the partnership Picklebet is giving away the ultimate giveaway for two people for the opening game of the season in Las Vegas. The social competition ends at 12 pm AEDT on Monday 24 February and includes flights to Las Vegas, three nights’ accommodation, $5000 spending money and tickets to see the Panthers headline the Rugby League action at Allegiant Stadium in Las Vegas.
Matt Cameron, CEO of Panthers Rugby League, said: “This partnership is a fantastic alignment between two brands that embrace innovation and excellence.
“Picklebet’s cutting-edge approach to digital wagering, particularly its focus on next-gen sports engagement, is an exciting fit for our club. We look forward to working together to create incredible experiences for Panthers fans over the next four years.”
As part of the partnership, Picklebet branding will be feature across Panthers’ assets, including digital platforms, in-stadium activations and exclusive fan engagement initiatives. Picklebet will also leverage its expertise in digital and social engagement to introduce new ways for fans to interact with the game and their team like never before.
The post Picklebet Becomes Official Wagering Partner of Penrith Panthers appeared first on European Gaming Industry News.
The Australian Communications and Media Authority (ACMA) has requested the Australian internet service providers (ISPs) to block more illegal online gambling and affiliate-marketing websites, after investigations found these services to be operating in breach of the Interactive Gambling Act 2001.
The latest sites blocked include JokaRoom, AUDPokies888, Aura Play, Instant Casino, Leon, Rich Papa, UUSpin and Wild Pokies.
Website blocking is one of a range of enforcement options to protect Australians against illegal online gambling. Since the ACMA made its first blocking request in November 2019, 1154 illegal gambling and affiliate websites have been blocked.
Around 220 illegal services have also pulled out of the Australian market since the ACMA started enforcing new illegal online gambling rules in 2017.
The post ACMA Blocks More Illegal Gambling Websites appeared first on European Gaming Industry News.
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