DATA40 Terminal
Fresh Industrial Data. Hype-free
Stay tuned with Data40 newsletter
Financial Index by

The Materials section is a rich resource for individuals and organizations with a focus on data.

With thoughtfully curated articles, timely data releases, and a store stocked with ready-to-use data sets, this section caters to your data needs, empowering you to succeed in the dynamic world of data.

Materials is a hub offering insightful articles, fresh data releases, and ready-to-use data sets, providing essential resources for navigating the dynamic data landscape.
DATA40 Terminal
DATA40 Terminal is a data platform designed for efficient data management and analysis in specific areas: GameDev, iGaming, Blockchain, Venture and related FinTech/AdTech.
D40 Terminal is a data platform designed for efficient data management and analysis in specific areas: GameDev, iGaming, Blockchain, Venture and related FinTech/AdTech.

Our company information section provides comprehensive information about our services, pricing, team information, and contact details.

We aim to provide our visitors with all the information they need to make informed decisions about our services and build a strong relationship with our team.

This section provides information about our company, including prices, team information, and contact details.
Gambling iGaming iGaming Software Providers
Home / Articles

Everi’s 2024 Plan: Entering the Video Lottery Terminals (VLT) Market

18 Mar, 2024
Written by
Ornella De-Benedetto
Ornella De-Benedetto

Everi Holdings Inc, a leading provider of innovative gaming products and financial technology solutions, has established itself as a prominent player in the global gaming industry. With its headquarters in Las Vegas, Nevada, Everi has been at the forefront of delivering cutting-edge gaming content, secure payment solutions, and player engagement tools to casino operators worldwide. In a strategic move to further diversify its product portfolio and expand its market presence, Everi is poised to enter the burgeoning Video Lottery Terminal (VLT) market in 2024. This decision underscores Everi’s commitment to exploring new avenues for growth and capitalizing on emerging trends within the gaming sector.

Definition of VLT and Its Role in the Gambling Market

Video Lottery Terminals (VLTs) are electronic gaming machines that offer a variety of games, such as slots, poker, and keno, to players in licensed establishments like casinos, bars, and racetracks. Unlike traditional slot machines, which operate independently, VLTs are connected to a centralized system controlled by the state or provincial government. This system regulates aspects like game outcomes, payouts, and revenue distribution.

The role of VLTs in the gambling market is significant and multifaceted.

  • Firstly, they provide a legal and regulated form of gambling entertainment, contributing to government revenues through taxation and licensing fees. 
  • Secondly, VLTs offer players a convenient and accessible way to engage in gaming activities without having to visit traditional casinos. This accessibility attracts a diverse range of players, including casual gamers and seasoned enthusiasts.

VLTs play a crucial role in supporting local economies by generating employment opportunities and stimulating ancillary businesses, such as hospitality and tourism. Therefore, for Everi, which has a number of land-based casinos, this is a really smart development vector. They will be able to use their terminals in their establishments. 

Trends in the VLT Market in 2024

  • Video Gaming Machines

–  Electronic devices for playing video games, featuring screens and control inputs. 

  • Video Poker Machines

– Electronic gambling devices simulating poker gameplay, with virtual tables and card draws. Commonly found in casinos and bars.

  • Mechanical Reel Gaming Machines

– Devices with spinning reels displaying symbols. Players initiate gameplay, aiming for specific symbol combinations to win payouts. Popular in casinos for their simplicity and potential for large payouts.

Competitive Landscape and Growth Opportunities

The largest manufacturers of Video Lottery Terminals (VLT) Market worldwide

In this dynamic VLT market landscape, Everi stands poised to contend with competitors on multiple fronts. As governments expand legalized gambling markets and deploy VLTs in diverse venues like bars, restaurants, and entertainment complexes, Everi’s strategic focus on digital innovation and omnichannel experiences becomes paramount. Leveraging advancements in technology, including seamless integration of mobile and online gaming platforms with VLT systems, Everi aims to enhance player convenience and optimize gaming revenue.

Everi recognizes the significance of data analytics and artificial intelligence (AI) in gaining insights into player behaviors and preferences. By harnessing the power of big data and predictive analytics, Everi aims to stay ahead of the curve, mitigating risks and driving revenue growth proactively. Amidst a competitive landscape characterized by innovation, differentiation, and strategic partnerships, Everi remains steadfast in its commitment to capitalize on emerging trends and unlock new growth opportunities in 2024 and beyond.

Motivation and Strategic Goals

Everi Holdings Inc’s decision to enter the VLT market in 2024 is driven by a combination of strategic motivations and long-term objectives. The company recognizes the significant growth potential of the VLT segment and aims to capitalize on this opportunity to diversify its product portfolio and expand its market reach.

One of Everi’s key strategic goals in entering the VLT market is to leverage its existing expertise in gaming technology and content development to establish a strong foothold in this lucrative segment. By offering innovative and engaging VLT solutions, Everi seeks to attract new customers and increase its market share in the gaming industry. Everi is motivated by the desire to enhance its revenue streams and drive sustainable long-term growth. The VLT market represents a complementary revenue stream to Everi’s existing business lines, providing the company with greater revenue diversification and resilience against market fluctuations.

  • Everi is partnering with Scientific Games Corporation, another major player in the gaming industry. By collaborating with Scientific Games, Everi gains access to a wide range of innovative gaming content and technology solutions, including advanced player engagement tools and analytics capabilities. This partnership allows Everi to enhance the appeal and performance of its VLT products, driving player engagement and operator profitability. Everi is forging strategic alliances with regional gaming operators and suppliers to facilitate its entry into specific VLT markets.
  • The company is working with leading software developers, such as Aristocrat Leisure Limited and Konami Gaming, to integrate popular gaming titles and innovative gameplay mechanics into its VLT portfolio. 
  • The company has established partnerships with prominent casino operators in key jurisdictions, such as MGM Resorts International and Caesars Entertainment Corporation, to pilot its VLT products and gather feedback from players and operators. These partnerships enable Everi to validate its product concepts and refine its go-to-market strategy before scaling up its operations. The company is working with leading software developers, such as Aristocrat Leisure Limited and Konami Gaming, to integrate popular gaming titles and innovative gameplay mechanics into its VLT portfolio. 

Analyzing the potential impact of Everi on the VLT market 

  • Everi Holdings Inc’s venture into the Video Lottery Terminal (VLT) market presents opportunities for revenue diversification and growth. Leveraging its gaming technology expertise, Everi can introduce innovative VLT products to expand its customer base. However, regulatory compliance and competition pose risks that need careful management. 
  • Everi’s short-term market share in the VLT market may be modest, but it’s expected to grow steadily with innovation and effective marketing. Long-term profitability prospects are promising, contingent on successful execution of strategies, cost optimization, and competitive pricing.
  • Entering the VLT market diversified revenue streams, enhancing investor confidence and potentially leading to stock price appreciation. Positive earnings from the VLT segment strengthen Everi’s financial stability, enabling investment in growth and shareholder returns.

Everi Holdings Inc Market Size Estimate

Everi Holdings’ market size for 2023 can be assessed through its revenue data, providing a clear picture of its financial performance and industry standing. Over the course of 2023, Everi Holdings reported:

  • First Quarter Revenue: $200.5 million, a 14% increase compared to the same period in 2022​​.
  • Second Quarter Revenue: $208.7 million, marking a 6% rise from the previous year​​.
  • Third Quarter Revenue: $206.6 million, slightly above the revenue from the same quarter in 2022​​.

By the end of September 2023, the trailing twelve-month revenue for Everi was recorded at $821.15 million, indicating an 8.40% growth year over year​​. This data provides a lens to view Everi’s market scope within its operational domains, namely the gaming and FinTech sectors.

It is important to note the competitive landscape in which Everi operates, sharing the market with significant entities like IGT, Scientific Games, and Aristocrat Leisure, which also shapes Everi’s market dynamics.

Everi’s activities in acquisitions and strategic investments throughout the year indicate its adaptive strategies and efforts to expand its market footprint. Despite challenges such as increased expenses and a dynamic market environment, Everi demonstrated resilience and strategic acumen, as evidenced by its steady revenue growth and operational outcomes throughout 2023. These financial figures not only offer a snapshot of Everi’s market size but also reflect its competitive position and strategic movements within the broader gaming and FinTech industries​​.

Final Thoughts

In conclusion, Everi Holdings Inc’s move into the Video Lottery Terminal (VLT) market is a significant strategic shift for the company, demonstrating its commitment to industry diversification and expansion. Throughout this article, we’ve explored Everi’s motivations, strategies, and potential impact on the VLT market, highlighting key insights for stakeholders. Everi’s entry into the VLT market is pivotal for its growth trajectory, positioning the company to capitalize on a burgeoning segment and bolster its competitiveness in the gaming landscape. This strategic move aligns with Everi’s long-term objectives, enhancing its market presence and potential for sustained success. Moving forward, ongoing research into the regulatory landscape and market dynamics of the VLT industry will provide valuable insights for Everi and industry observers. Monitoring Everi’s performance in the VLT market and its broader impact on the gaming ecosystem will offer insights into future opportunities and challenges for the company and the industry as a whole.

Fresh Industrial Data. Hype-free
Stay tuned with Data40 newsletter