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The deal is predicted to increase Everi’s (EVRI) addressable market past on line casino shoppers.
Analyst Edward Engel: “With the acquisition, Everi can higher cross-sell on line casino prospects by providing cell pockets and loyalty capabilities past the on line casino ground. But the acquisition additionally gives Everi a chance to increase its consumer base past casinos, significantly stadiums and racetracks with sportsbook and racebook operations.”
With the acquisition, Everi will retain Venuetize’s tech, personnel and 50+ prospects. The deal isn’t anticipated to materially impression EVRI’s income or EBITDA in 2022.
Engel additionally thinks Everi’s acquisition of Venuetize will permit it to supply cell pockets and loyalty capabilities corresponding to trade leaders like MGM and Caesars. The acquisition additionally expands EVRI’s consumer base to non-casino entities seeking to combine gaming options. The broader base of non-casino shoppers ought to considerably increase Everi’s goal market, each inside and out of doors the U.S.
Roth Capital Markets has a Purchase ranking on EVRI and 12-month worth goal of $24.
Jefferies was additionally constructive on the deal for EVRI, saying that it provides a component of development to the corporate that’s not as prevalent within the gaming trade typically.
Shares of EVRI rose 1.62% in premarket buying and selling on Wednesday to $18.20 so as to add to Tuesday’s 7.70% pop.
Learn extra in regards to the Venuetize deal.
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