$ 660,385

$ 383,674

$ 533,227

115,449

65,836

112,386

188,900

152,546

162,184

39,051

27,943

32,505

61,487

67,459

63,198

57,987

75,305

68,937

462,874

389,089

439,210

Interest expense, net of interest income

197,511

(5,415)

94,017

Other expenses

62,097

74,564

77,844

Loss on extinguishment of debt

34,389

7,457

179

Total other expenses

96,486

82,021

78,023

Income (loss) before income tax

101,025

(87,436)

15,994

Income tax benefit

(51,900)

(5,756)

(523)

Net income (loss)

152,925

(81,680)

16,517

Foreign currency translation (loss) gain

(264)

(372)

1,179

Comprehensive income (loss)

$ 152,661

$ (82,052)

$ 17,696

Earnings (loss) per share

Basic (in dollars per share)

$ 1.71

$ (0.96)

$ 0.23

Diluted (in dollars per share)

$ 1.53

$ (0.96)

$ 0.21

Weighted average common shares outstanding

Basic (in shares)

89,284

85,379

72,376

Diluted (in shares)

99,967

85,379

79,235

Games

$ 376,729

$ 200,301

$ 283,119

^[1]

81,756

41,328

71,894

70,150

63,789

61,522

26,060

20,060

24,954

53,876

61,566

56,882

42,866

59,926

57,491

274,708

246,669

272,743

Games | Gaming operations

102,021

(46,368)

10,376

272,767

156,199

188,874

Games | Gaming equipment and systems

^[1]

21,663

15,192

18,043

103,844

44,006

90,919

^[1]

60,093

25,680

50,826

Games | Gaming other

118

96

3,326

^[1]

0

456

3,025

FinTech

283,656

183,373

250,108

^[1]

33,693

24,508

40,492

118,750

88,757

100,662

12,991

7,883

7,551

7,611

5,893

6,316

15,121

15,379

11,446

188,166

142,420

166,467

FinTech | Financial access services

95,490

40,953

83,641

178,019

112,035

164,741

FinTech | Software and other

^[1]

6,779

6,755

14,236

67,797

47,041

47,502

^[1]

4,129

3,029

3,964

FinTech | Hardware

37,840

24,297

37,865

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

^[1]

$ 22,785

$ 14,724

$ 22,292

[1]	Exclusive of depreciation and amortization. EVERI HOLDINGS INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (In thousands, except earnings (loss) per share amounts)

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 302,009	$ 251,706
Settlement receivables	89,275	60,652
Trade and other receivables, net of allowances for credit losses of $5,161 and $3,689 at December 31, 2021 and December 31, 2020, respectively	104,822	74,191
Inventory	29,233	27,742
Prepaid expenses and other current assets	27,299	17,348
Total current assets	552,638	431,639
Non-current assets
Property and equipment, net	119,993	112,323
Goodwill	682,663	681,974
Other intangible assets, net	214,594	214,627
Other receivables	13,982	14,620
Deferred tax assets, net	32,121	0
Other assets	19,659	21,996
Total non-current assets	1,083,012	1,045,540
Total assets	1,635,650	1,477,179
Current liabilities
Settlement liabilities	291,861	173,211
Accounts payable and accrued expenses	173,933	145,029
Current portion of long-term debt	6,000	1,250
Total current liabilities	471,794	319,490
Non-current liabilities
Deferred tax liabilities, net	0	19,956
Long-term debt, less current portion	975,525	1,128,003
Other accrued expenses and liabilities	13,831	17,628
Total non-current liabilities	989,356	1,165,587
Total liabilities	1,461,150	1,485,077
Commitments and contingencies (Note 13)
Stockholders’ equity (deficit)
Common stock, $0.001 par value, 500,000 shares authorized and 116,996 and 91,313 shares issued and outstanding at December 31, 2021, respectively, and 111,872 and 86,683 shares issued and outstanding at December 31, 2020, respectively	117	112
Convertible preferred stock, $0.001 par value, 50,000 shares authorized and no shares outstanding at December 31, 2021 and December 31, 2020, respectively	0	0
Additional paid-in capital	505,757	466,614
Accumulated deficit	(141,755)	(294,620)
Accumulated other comprehensive loss	(1,455)	(1,191)
Treasury stock, at cost, 25,683 and 25,190 shares at December 31, 2021 and December 31, 2020, respectively	(188,164)	(178,813)
Total stockholders’ equity (deficit)	174,500	(7,898)
Total liabilities and stockholders’ equity (deficit)	$ 1,635,650	$ 1,477,179

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Assets, Current [Abstract]
Allowances for doubtful accounts	$ 5,161	$ 3,689
Stockholders’ equity (deficit)
Common stock par value (in dollars per share)	$ 0.001	$ 0.001
Common stock authorized (in shares)	500,000,000	500,000,000
Common stock issued (in shares)	116,996,348	111,872,439
Common stock outstanding (in shares)	91,313,000	86,683,000
Convertible preferred stock ,par value (in dollars per share)	$ 0.001	$ 0.001
Convertible preferred stock authorized (in shares)	50,000,000	50,000,000
Convertible preferred stock outstanding (in shares)	0	0
Treasury stock (in shares)	25,683,000	25,190,000

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities
Net income (loss)	$ 152,925	$ (81,680)	$ 16,517
Adjustments to reconcile net income (loss) to cash provided by operating activities:
Depreciation	61,487	67,459	63,198
Amortization	57,987	75,305	68,937
Non-cash lease expense	4,401	4,880	4,276
Amortization of financing costs and discounts	3,937	4,283	4,285
Loss on sale or disposal of assets	1,658	450	1,678
Accretion of contract rights	9,318	7,675	8,710
Provision for credit losses	7,540	8,010	14,647
Deferred income taxes	(52,077)	(6,579)	(1,594)
Reserve for inventory obsolescence	2,275	2,166	1,463
Write-down of assets	0	13,068	1,268
Loss on extinguishment of debt	34,389	7,457	179
Stock-based compensation	20,900	13,036	9,857
Other non-cash items	53	456	0
Changes in operating assets and liabilities:
Settlement receivables	(28,624)	9,881	12,961
Trade and other receivables	(37,617)	8,621	(41,754)
Inventory	(3,755)	(5,650)	(3,067)
Prepaid expenses and other assets	(10,219)	(4,301)	(18,724)
Settlement liabilities	118,651	(61,133)	(100,783)
Accounts payable and accrued expenses	48,401	(27,225)	42,836
Net cash provided by operating activities	391,630	36,179	84,890
Cash flows from investing activities
Capital expenditures	(104,708)	(76,429)	(114,291)
Acquisitions, net of cash acquired	(16,000)	(15,000)	(35,000)
Proceeds from sale of property and equipment	261	396	56
Placement fee agreements	(31,465)	(3,085)	(17,102)
Net cash used in investing activities	(151,912)	(94,118)	(166,337)
Cash flows from financing activities
Proceeds from prior revolver	0	35,000	0
Repayments of prior revolver	0	(35,000)	0
Fees associated with debt transactions — new debt	(19,797)	0	0
Fees associated with debt transactions — prior debt	(20,828)	(11,128)	(707)
Proceeds from issuance of common stock, net	0	0	122,376
Proceeds from exercise of stock options	18,251	6,226	15,704
Treasury stock	(9,354)	(1,288)	(1,060)
Payment of acquisition contingent consideration	(9,875)	0	0
Net cash (used in) provided by financing activities	(188,359)	15,066	77,613
Effect of exchange rates on cash and cash equivalents	18	(1,388)	1,263
Cash, cash equivalents and restricted cash
Net increase (decrease) for the period	51,377	(44,261)	(2,571)
Balance, beginning of the period	252,349	296,610	299,181
Balance, end of the period	303,726	252,349	296,610
Supplemental cash disclosures
Cash paid for interest	51,224	67,562	77,351
Cash paid for income tax, net of refunds	1,062	576	694
Supplemental non-cash disclosures
Accrued and unpaid capital expenditures	3,690	2,801	4,500
Accrued and unpaid placement fees added during the year	0	0	585
Accrued and unpaid liabilities for acquisitions added during the year	0	0	36,940
Transfer of leased gaming equipment to inventory	8,782	5,775	10,980
Term loan
Cash flows from financing activities
Proceeds from secured debt	600,000	0	0
Repayments of secured debt	(735,500)	(13,500)	(58,700)
Incremental term loan
Cash flows from financing activities
Proceeds from secured debt	0	125,000	0
Repayments of secured debt	(124,375)	(625)	0
2021 Unsecured Notes
Cash flows from financing activities
Proceeds from secured debt	400,000	0	0
2017 Unsecured Notes
Cash flows from financing activities
Repayments of secured debt	(285,381)	(89,619)	0
New Term Loan
Cash flows from financing activities
Repayments of secured debt	$ (1,500)	$ 0	$ 0

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock— Series A	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss	Treasury Stock
Balance at beginning of period (in shares) at Dec. 31, 2018		95,100
Balance at beginning of period at Dec. 31, 2018	$ (108,895)	$ 95	$ 298,929	$ (229,457)	$ (1,998)	$ (176,464)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	16,517			16,517
Foreign currency translation	1,179				1,179
Issuance of common stock in public offering, net (in shares)		11,500
Issuance of common stock in public offering, net	122,376	$ 11	122,365
Stock-based compensation expense	8,167		8,167
Exercise of options (in shares)		2,595
Exercise of options	15,704	$ 3	15,701
Restricted share vesting and withholding (in shares)		298
Restricted share vesting and withholding	(1,060)					(1,060)
Balance at end of period (in shares) at Dec. 31, 2019		109,493
Balance at end of period at Dec. 31, 2019	53,988	$ 109	445,162	(212,940)	(819)	(177,524)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(81,680)			(81,680)
Foreign currency translation	(372)				(372)
Stock-based compensation expense	14,726		14,726
Exercise of warrants	502		502
Exercise of options (in shares)		1,474
Exercise of options	6,226	$ 2	6,224
Restricted share vesting and withholding (in shares)		905
Restricted share vesting and withholding	$ (1,288)	$ 1				(1,289)
Balance at end of period (in shares) at Dec. 31, 2020	86,683	111,872
Balance at end of period at Dec. 31, 2020	$ (7,898)	$ 112	466,614	(294,620)	(1,191)	(178,813)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	152,925			152,925
Dissolution adjustment	(60)			(60)
Foreign currency translation	(264)				(264)
Stock-based compensation expense	20,900		20,900
Exercise of warrants (in shares)		378
Exercise of options (in shares)		3,180
Exercise of options	18,251	$ 3	18,248
Restricted share vesting and withholding (in shares)		1,566
Restricted share vesting and withholding	$ (9,354)	$ 2	(5)			(9,351)
Balance at end of period (in shares) at Dec. 31, 2021	91,313	116,996
Balance at end of period at Dec. 31, 2021	$ 174,500	$ 117	$ 505,757	$ (141,755)	$ (1,455)	$ (188,164)

BUSINESS	12 Months Ended
BUSINESS	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS	BUSINESS Everi Holdings Inc. (“Everi Holdings,” or “Everi”) is a holding company, the assets of which are the issued and outstanding shares of capital stock of each of Everi Payments Inc. (“Everi FinTech” or “FinTech”) and Everi Games Holding Inc., which owns all of the issued and outstanding shares of capital stock of Everi Games Inc. (“Everi Games” or “Games”). Unless otherwise indicated, the terms the “Company,” “we,” “us,” and “our” refer to Everi Holdings together with its consolidated subsidiaries. Everi is a supplier of entertainment and technology solutions for the casino and digital gaming industry. The Company develops game content and gaming machines, gaming systems and services for land-based and iGaming operators. The Company is also a provider of financial technology solutions that power the casino floor, including products and services that facilitate cash and cashless financial transactions, self-service player loyalty tools and applications, and regulatory and intelligence software. Everi reports its financial performance, and organizes and manages its operations, across the following two business segments: (i) Games; and (ii) Financial Technology Solutions (“FinTech”). Everi Games primarily provides gaming operators with gaming technology products and services, including: (i) gaming machines, primarily comprising Class II and Class III slot machines placed under participation or fixed-fee lease arrangements or sold to casino customers; (ii) providing and maintaining the central determinant systems for the video lottery terminals (“VLTs”) installed in the State of New York and similar technology in certain tribal jurisdictions; and (iii) business-to-business (“B2B”) digital online gaming activities. Everi FinTech provides gaming operators with financial technology and entertainment products and services, including: (i) financial access and related services supporting digital, cashless and physical cash options across mobile, assisted and self-service channels; (ii) loyalty and marketing software and tools, regulatory and compliance (“RegTech”) software solutions, other information-related products and services, and hardware maintenance services; and (iii) associated casino patron self-service hardware that utilizes our financial access, software and other services. Our services operate as part of an end-to-end security suite to protect against cyber-related attacks and maintain the necessary secured environments to maintain compliance with applicable regulatory requirements. These solutions include: access to cash and cashless funding at gaming facilities via Automated Teller Machine (“ATM”) debit withdrawals, credit card financial access transactions, and point of sale (“POS”) debit card purchases at casino cages, kiosk and mobile POS devices; accounts for the CashClub Wallet, check warranty services, self-service ATMs and fully integrated kiosk and maintenance services; self-service loyalty tools and promotion management software; compliance, audit, and data software; casino credit data and reporting services; marketing and promotional offering subscription-based services; and other ancillary offerings. With respect to our FinTech business, we have made the following updates to certain of our financial statement descriptions, where applicable: (i) “Cash access services” has become “Financial access services”; (ii) “ATM” has been renamed “Funds dispensed”; (iii) “Equipment” has been changed to “Hardware”; and (iv) “Information services and other” has been revised to “Software and other.” These naming convention changes better represent how our business has evolved. Impact of the Coronavirus Disease 2019 (“COVID-19”) Pandemic The COVID-19 pandemic has negatively impacted the global economy, disrupted global supply chains, temporarily lowered equity market valuations, created significant volatility in the financial markets, increased unemployment levels, and caused temporary, and in certain cases, permanent closures of many businesses. The initial impacts from the COVID-19 pandemic have begun to subside with certain aspects of the global economy, equity market valuations, and increased unemployment levels showing signs of recovery. The gaming industry was not immune to these factors as our casino customers closed their gaming establishments in the first quarter of 2020, with many beginning to reopen their operations over the remainder of 2020 and throughout 2021. As a result, our operations experienced significant disruptions in the first three quarters of 2020. At the immediate onset of the COVID-19 pandemic, we were affected by various measures, including, but not limited to: the institution of social distancing and sheltering-in-place requirements in many states and communities where we operate, which significantly impacted demand for our products and services, and resulted in office closures, the furlough of a majority of our employees, the implementation of temporary base salary reductions for our employees and the implementation of a work-from-home policy. Since the onset of COVID-19, we have implemented measures to mitigate our exposure throughout the global pandemic. While there may be further uncertainty facing our customers as a result of COVID-19, we continue to evaluate our business strategies and the impacts of the global pandemic on our results of operations and financial condition and make business decisions to mitigate further risk. While gaming industry conditions improved significantly in 2021 compared to 2020, it is unclear if the customer volumes experienced will continue to exceed pre-COVID levels. Resurgences of COVID-19 and its variants could result in reduced patron demand for gaming and could also result in new closures of casinos by the various governmental and regulatory agencies overseeing our customers or even by the casino operators themselves in an effort to contain the COVID-19 global pandemic or mitigate its impact and the effect of vaccines on these matters. As of December 31, 2021, excluding the few casinos that have permanently closed, there are only a minimal number of customer sites, located primarily in Canada and other international markets, whose operations still remain closed. At the onset of the pandemic, our customers implemented protocols intended to protect their patrons and guests from potential COVID-19 exposure and re-establish customer confidence in the gaming and hospitality industry. These measures included enhanced sanitization, limitations on public gathering and casino capacity, patron social distancing requirements, and limitations on casino operations and amenities, which have limited the number of patrons that are able or who desire to attend these venues. This has also impacted the pace at which demand for our products and services rebounds. With various limitations still in effect, we expect that demand and supply for our products and services may be tempered in the short-term, to the extent gaming activity decreases at our customers’ locations, or fails to increase at expected rates, and to the extent our customers decide to continue to restrict their capital spending as a result of uncertainty in the industry, or that supply chain disruptions might impact customer deliveries or otherwise. As a result, we continue to monitor and manage liquidity levels and we may, from time to time, evaluate available capital resource alternatives on acceptable terms to provide additional financial flexibility. The impact of the COVID-19 pandemic also exacerbates the risks disclosed in this Annual Report including, but not limited to: our ability to comply with the terms of our indebtedness; our ability to generate revenues, earn profits and maintain adequate liquidity; our ability to service existing and attract new customers and maintain our overall competitiveness in the market; the potential for significant fluctuations in demand for our products and services; overall trends in the gaming industry impacting our business; and potential volatility in our stock price, among other concerns such as cybersecurity exposure.

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Principles of Consolidation

The consolidated financial statements are prepared under U.S. Generally Accepted Accounting Principles (GAAP) and include the accounts of the Company and its subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.

Business Combinations

When we acquire a business, we recognize the assets acquired and the liabilities assumed, at their acquisition date fair values. Goodwill is measured and recognized as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. Significant estimates and assumptions are required to value assets acquired and liabilities assumed at the acquisition date as well as contingent consideration, where applicable. These estimates are preliminary and typically include the calculation of an appropriate discount rate and projection of the cash flows associated with each acquired asset over its estimated useful life. As a result, up to one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill (referred to as the measurement period). In addition, deferred tax assets, deferred tax liabilities, uncertain tax positions, and tax related valuation allowances assumed in connection with a business combination are initially estimated as of the acquisition date. We reevaluate these items quarterly based upon facts and circumstances that existed as of the acquisition date and any adjustments to preliminary estimates are recorded to goodwill, in the period of identification, if identified within the measurement period. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Statements of Operations.

Cash and Cash Equivalents

Cash and cash equivalents include cash and balances on deposit in banks and financial institutions. We consider highly liquid investments with maturities of three months or less at the time of purchase to be cash and cash equivalents. Such balances generally exceed the federal insurance limits; however, we periodically evaluate the creditworthiness of these institutions to minimize risk.

ATM Funding Agreements

We obtain all of the cash required to operate our ATMs through various ATM Funding Agreements. Some gaming establishments provide the cash utilized within the ATM (“Site-Funded”). The Site-Funded receivables generated for the amount of cash dispensed from transactions performed at our ATMs are owned by us and we are liable to the gaming establishment for the face amount of the cash dispensed. In our Balance Sheets, the amount of the receivable for transactions processed on these funds dispensed transactions is included within settlement receivables and the amount due to the gaming establishment for the face amount of dispensing transactions is included within settlement liabilities.

For the non-Site-Funded locations, we enter into commercial arrangements with third party vendors to provide us the currency needed for normal operating requirements for our ATMs. For the use of these funds, we pay a cash usage fee based upon the target federal funds rate. Under these agreements, the currency supplied by the third-party vendors remains the sole property of these suppliers until funds are dispensed, at which time the third-party vendors obtain an interest in the corresponding settlement receivable. As the cash is an asset of these suppliers, it is therefore not reflected on our Balance Sheets. The usage fee for the cash supplied in these ATMs is included as interest expense in the Statements of Operations. Our rationale to record cash usage fees as interest expense is primarily due to the similar operational characteristics to a revolving line of credit, the fact that the fees are calculated on a financial index, and the fees are paid for access to a capital resource.

Settlement Receivables and Settlement Liabilities

We provide cash settlement services to gaming establishments related to our financial access services, which involve the movement of funds between various parties involved in these types of transactions. We receive reimbursement from the patron’s credit or debit card issuing financial institution for the amount owed to the gaming establishment plus the fee charged to the patron. These activities result in amounts due to us at the end of each business day that we generally recover over the next few business days, which are classified as settlement receivables on our Balance Sheets. In addition, cash settlement services result in amounts due to gaming establishments for the cash disbursed to patrons through the issuance of a negotiable instrument or through electronic settlement for the face amount provided to patrons that we generally remit over the next few business days, which are classified as settlement liabilities on our Balance Sheets.

Warranty Receivables

If a gaming establishment chooses to have a check warranted, it sends a request to our third-party check warranty service provider, asking whether it would be willing to accept the risk of cashing the check. If the check warranty provider accepts the risk and warrants the check, the gaming establishment negotiates the patron’s check by providing cash for the face amount of the check. If the check is dishonored by the patron’s bank upon presentment, the gaming establishment invokes the warranty, and the check warranty service provider purchases the check from the gaming establishment for the full check amount and then pursues collection activities on its own. In our Central Credit Check Warranty product under our agreement with the third-party service provider, we receive all of the check warranty revenue. We are exposed to risk for the losses associated with any warranted items that cannot be collected from patrons issuing the items.

The warranty receivables amount is recorded in trade and other receivables, net on our Balance Sheets. On a monthly basis, the Company evaluates the collectability of the outstanding balances and establishes a reserve for the face amount of the expected losses on these receivables. The warranty expense associated with this reserve is included within cost of revenues (exclusive of depreciation and amortization) on our Statements of Operations.

Allowance for Credit Losses

We continually evaluate the collectability of outstanding balances and maintain an allowance for credit losses related to our trade and other receivables and notes receivable that have been determined to have a high risk of uncollectability, which represents our best estimates of the current expected credit losses to be incurred in the future. To derive our estimates, we analyze historical collection trends and changes in our customer payment patterns, current and expected conditions and market trends along with our operating forecasts, concentration, and creditworthiness when evaluating the adequacy of our allowance for credit losses. In addition, with respect to our check warranty receivables, we are exposed to risk for the losses associated with warranted items that cannot be collected from patrons issuing these items. We evaluate the collectability of the outstanding balances and establish a reserve for the face amount of the current expected credit losses related to these receivables. Account balances are charged against the provision when the Company believes it is probable the receivable will not be recovered. The provision for doubtful accounts receivable is included within operating expenses and the check warranty loss reserves are included within financial access services cost of revenues in the Statements of Operations.

Inventory

Our inventory primarily consists of component parts as well as finished goods and work-in-progress. The cost of inventory includes cost of materials, labor, overhead and freight. The inventory is stated at the lower of cost or net realizable value and accounted for using the first in, first out method (“FIFO”).

Restricted Cash

Our restricted cash primarily consists of: (i) funds held in connection with certain customer agreements; (ii) deposits held in connection with a sponsorship agreement; (iii) wide-area progressive (“WAP”)-related restricted funds; and (iv) financial access activities related to cashless balances held on behalf of patrons. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Balance Sheets that sum to the total of the same such amounts shown in the statements of cash flows for the years ended December 31, 2021, 2020, and 2019, respectively (in thousands).


		Year Ended December 31,
	Classification on our Balance Sheets	2021		2020		2019
Cash and cash equivalents	Cash and cash equivalents	$	302,009	$	251,706	$	289,870
Restricted cash — current	Prepaid expenses and other current assets	1,616		542		6,639
Restricted cash — non-current	Other assets	101		101		101
Total		$	303,726	$	252,349	$	296,610

Property and Equipment

Property and equipment, which includes assets leased to customers, are stated at cost, less accumulated depreciation, and are computed using the straight-line method over the lesser of the lease term or estimated life of the related assets, generally one to five years. Player terminals and related components and equipment are included in our rental pool. The rental pool can be further delineated as “rental pool – deployed,” which consists of assets deployed at customer sites under participation or fixed fee arrangements, and “rental pool – undeployed,” which consists of assets held by us that are available for customer use. Rental pool – undeployed also consists of previously deployed units currently back with us to be refurbished awaiting re-deployment. Routine maintenance of property, equipment and leased gaming equipment is expensed in the period incurred, while major component upgrades are capitalized and depreciated over the estimated remaining useful life of the component. Sales and retirements of depreciable property are recorded by removing the related cost and accumulated depreciation from the accounts. Gains or losses on sales and retirements of property are reflected in our Statements of Operations. Property, equipment and leased assets are reviewed for impairment whenever events or circumstances indicate that their carrying amounts may not be recoverable. Impairment is indicated when future cash flows, on an undiscounted basis, do not exceed the carrying value of the asset.

Placement Fee and Development Agreements

We enter into placement fee and, to a certain extent, development agreements to provide financing for the expansion of existing facilities, or for new gaming facilities. Funds provided under placement fee agreements are not reimbursed, while funds provided under development agreements are reimbursed to us, in whole, or in part. In return, the facility dedicates a percentage of its floor space to placement of our player terminals, and we receive a fixed percentage of those player terminals’ hold amounts per day over the term of the agreement, which is generally from 12 to 83 months. Certain of the agreements contain player terminal performance standards that could allow the facility to reduce a portion of our guaranteed floor space. In addition, certain development agreements allow the facilities to buy out floor space after advances that are subject to repayment have been repaid. The agreements typically provide for a portion of the amounts retained by the gaming facility for their share of the operating profits of the facility to be used to repay some or all of the advances recorded as notes receivable.

Goodwill

Goodwill represents the excess of the purchase price over the identifiable tangible and intangible assets acquired plus liabilities assumed arising from business combinations. We test for impairment annually on a reporting unit basis, at the beginning of our fourth fiscal quarter and between annual tests if events and circumstances indicate it is more likely than not that the fair value of a reporting unit is less than its carrying amount. The annual impairment test is completed using either: a qualitative “Step 0” assessment based on reviewing relevant events and circumstances; or a quantitative “Step 1” assessment, which determines the fair value of the reporting unit, using both an income approach that discounts future cash flows based on the estimated future results of our reporting units and a market approach that compares market multiples of comparable companies to determine whether or not any impairment exists. To the extent the carrying amount of a reporting unit is less than its estimated fair value, an impairment charge is recorded.

The evaluation of impairment of goodwill requires the use of estimates about future operating results. Changes in forecasted operations can materially affect these estimates, which could materially affect our results of operations and financial condition. The estimates of expected future cash flows require significant judgment and are based on assumptions we determined to be reasonable; however, they are unpredictable and inherently uncertain, including, estimates of future growth rates, operating margins, and assumptions about the overall economic climate as well as the competitive environment within which we operate. There can be no assurance that our estimates and assumptions made for purposes of our impairment assessments as of the time of evaluation will prove to be accurate predictions of the future. If our assumptions regarding business plans, competitive environments or anticipated growth rates are not correct, we may be required to record non-cash impairment charges in future periods, whether in connection with our normal review procedures periodically, or earlier, if an indicator of an impairment is present prior to such evaluation.

Our reporting units are identified as operating segments or one level below. Reporting units must: (i) engage in business activities from which they earn revenues and incur expenses; (ii) have operating results that are regularly reviewed by our segment management to ascertain the resources to be allocated to the segment and assess its performance; and (iii) have discrete financial information available. As of December 31, 2021, our reporting units included: (i) Games; (ii) Financial Access Services; (iii) Kiosk Sales and Services; (iv) Central Credit Services; (v) Compliance Sales and Services; and (vi) Loyalty Sales and Services.

Other Intangible Assets

Other intangible assets are stated at cost, less accumulated amortization, and are computed primarily using the straight-line method. Other intangible assets consist primarily of: (i) customer contracts (rights to provide Games and FinTech services to gaming establishment customers), developed technology, trade names and trademarks, and contract rights acquired through business combinations; and (ii) capitalized software development costs. Customer contracts require us to make renewal assumptions, which impact the estimated useful lives of such assets. Capitalized software development costs require us to make certain judgments as to the stages of development and costs eligible for capitalization. Capitalized software costs placed in service are amortized over their useful lives, generally not to exceed six years. We review intangible assets whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Such events or circumstances include, but are not limited to, a significant decrease in the fair value of the underlying business or market price of the asset, a significant adverse change in legal factors or business climate that could affect the value of an asset, or a current period operating or cash flow loss combined with a history of operating or cash flow losses. We group intangible assets for impairment analysis at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. Recoverability of definite lived intangible assets is measured by a comparison of the carrying amount of the asset to future net cash flows expected to be generated by the asset, on an undiscounted basis and without interest or taxes. Any impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets.

Debt Issuance Costs

Debt issuance costs incurred in connection with long-term borrowings are capitalized and amortized to interest expense based upon the related debt agreements using the straight-line method, which approximates the effective interest method. Debt issuance costs related to line-of-credit arrangements are included in other assets, non-current, on our Balance Sheets. All other debt issuance costs are included as contra-liabilities in long-term debt.

Revenue Recognition

Overview

We evaluate the recognition of revenue based on the criteria set forth in Accounting Standards Codification (“ASC”) 606 — Revenue from Contracts with Customers and ASC 842 — Leases, as appropriate. We recognize revenue upon transferring control of goods or services to our customers in an amount that reflects the consideration we expect to receive in exchange for those goods or services. We enter into contracts with customers that include various performance obligations consisting of goods, services, or combinations of goods and services. Timing of the transfer of control varies based on the nature of the contract. We recognize revenue net of any sales and other taxes collected from customers, which are subsequently remitted to governmental authorities and are not included in revenues or operating expenses. We measure revenue based on the consideration specified in a contract with a customer and adjusted, as necessary.

Collectability

To assess collectability, we determine whether it is probable that we will collect substantially all of the consideration to which we are entitled in exchange for the goods and services transferred to the customer in accordance with the terms and conditions of the contract. In connection with these procedures, we evaluate the customer using internal and external information available, including, but not limited to, research and analysis of our credit history with the customer. Based on the nature of our transactions and historical trends, we determine whether our customers have the ability and intention to pay the amounts of consideration when they become due to identify potentially significant credit risk exposure.

Contract Combinations - Multiple Promised Goods and Services

Our contracts may include various performance obligations for promises to transfer multiple goods and services to a customer, especially since our Games and FinTech businesses may enter into multiple agreements with the same customer that meet the criteria to be combined for accounting purposes under ASC 606. When this occurs, a Stand-Alone Selling Price (“SSP”) will be determined for each performance obligation in the combined arrangement, and the consideration will be allocated between the respective performance obligations. The SSP of our goods and services is generally determined based on observable prices, an adjusted market assessment approach, or an expected cost plus margin approach. We utilize a residual approach only when the SSP for performance obligations with observable prices has been established and the remaining performance obligation in the contract with a customer does not have an observable price as it is uncertain or highly variable and, therefore, is not discernible. We use our judgment to analyze the nature of the promises made and determine whether each is distinct or should be combined with other promises in the contract based on the level of integration and interdependency between the individual deliverables.

Disaggregation of Revenues

We disaggregate revenues based on the nature and timing of the cash flows generated by such revenues as presented in “Note 18 — Segment Information.”

Outbound Freight Costs, Installation and Training

Upon transferring control of goods to a customer, the shipping and handling costs in connection with sale transactions are generally accounted for as fulfillment costs and included in cost of revenues.

Our performance of installation and training services relating to the sales of gaming equipment and systems and FinTech equipment does not modify the software or hardware in those equipment and systems. Such installation and training services are generally immaterial in the context of the contract; and therefore, such items do not represent a separate performance obligation.

Costs to Acquire a Contract with a Customer

We typically incur incremental costs to acquire customer contracts in the form of sales commissions; however, because the expected benefit from these contracts is one year or less, we expense these amounts as incurred.

Contract Balances

Since our contracts may include multiple performance obligations, there is often a timing difference between cash collections and the satisfaction of such performance obligations and revenue recognition. Such arrangements are evaluated to determine whether contract assets and liabilities exist. We generally record contract assets when the timing of billing differs from when revenue is recognized due to contracts containing specific performance obligations that are required to be met prior to a customer being invoiced. We generally record contract liabilities when cash is collected in advance of us satisfying performance obligations, including those that are satisfied over a period of time. Balances of our contract assets and contract liabilities may fluctuate due to timing of cash collections.

The following table summarizes our contract assets and contract liabilities arising from contracts with customers (in thousands):


	Year Ended December 31,
	2021		2020
Contract assets (1)
Balance at January 1 — current	$	9,240	$	8,634
Balance at January 1 — non-current	8,321		6,774
Total	17,561		15,408
Balance at December 31 — current	9,927		9,240
Balance at December 31 — non-current	5,294		8,321
Total	15,221		17,561
(Decrease)/Increase	$	(2,340)	$	2,153
Contract liabilities (2)
Balance at January 1 — current	$	26,980	$	28,510
Balance at January 1 — non-current	289		354
Total	27,269		28,864
Balance at December 31 — current	36,238		26,980
Balance at December 31 — non-current	377		289
Total	36,615		27,269
Increase/(Decrease)	$	9,346	$	(1,595)

(1) The current portion of contract assets is included within trade and other receivables, net and the non-current portion is included within other receivables in our Balance Sheets.

(2) The current portion of contract liabilities is included within accounts payable and accrued expenses, and the non-current portion is included within other accrued expenses and liabilities in our Balance Sheets.

We recognized approximately $21.3 million and $23.5 million in revenue that was included in the beginning contract liability balance during 2021 and 2020, respectively.

Games Revenues

Our products and services include electronic gaming devices, such as Native American Class II offerings and other electronic bingo products, Class III slot machine offerings, VLTs, B2B digital online gaming activities, accounting and central determinant systems, and other back office systems. We conduct our Games segment business based on results generated from the following major revenue streams: (i) Gaming Operations; (ii) Gaming Equipment and Systems; and (iii) Gaming Other.

Gaming Operations

We primarily provide: (i) leased gaming equipment, both Class II and Class III offerings, on a participation or a daily fixed-fee basis, including standard games and hardware and premium games and hardware, inclusive of local-area progressive, and WAP; (ii) accounting and central determinant systems; and (iii) digital online gaming activities. We evaluate the recognition of lease revenues based on criteria set forth in ASC 842. Under these arrangements, we retain ownership of the machines installed at customer facilities. We recognize recurring rental income over time based on a percentage of the net win per day generated by the leased gaming equipment or a daily fixed-fee based on the timing services are provided. Such revenues are generated daily and are limited to the lesser of the net win per day generated by the leased gaming equipment or the fixed daily fee and the lease payments that have been collected from the lessee. Gaming operations revenues generated by leased gaming equipment deployed at sites under placement fee agreements give rise to contract rights, which are amounts recorded to intangible assets for dedicated floor space resulting from such agreements. The gaming operations revenues generated by these arrangements are reduced by the accretion of contract rights, which represents the related amortization of the contract rights recorded in connection with such agreements. Gaming operations lease revenues accounted for under ASC 842 are generally short-term in nature with payment terms ranging from 30 to 90 days. We recognized $189.8 million, $116.1 million, and $143.2 million in lease revenues for the years ended December 31, 2021, 2020, and 2019, respectively.

Gaming operations revenues include amounts generated by WAP systems, which are recognized under ASC 606. WAP consists of linked slot machines located in multiple casino properties that are connected to a central system. WAP-based gaming machines have a progressive jackpot administered by us that increases with every wager until a player wins the top award combination. Casino operators pay us a percentage of the coin-in (the total amount wagered), a percentage of net win, or a combination of both for services related to the design, assembly, installation, operation, maintenance, administration, and marketing of the WAP offering. The gaming operations revenues with respect to WAP machines represent a separate performance obligation and we transfer control and recognize revenue over time based on a percentage of the coin-in, a percentage of net win, or a combination of both, based on the timing services are provided. These arrangements are generally short-term in nature with a majority of invoices payable within 30 to 90 days. Such revenues are presented in the Statements of Operations, net of the jackpot expense, which are composed of incremental amounts funded by a portion of coin-in from the players. At the time a jackpot is won by a player, an additional jackpot expense is recorded in connection with the base seed amount required to fund the minimum level as set forth in the WAP arrangements with the casino operators.

Gaming operations also include revenues generated under our arrangement to provide the New York State Gaming Commission (the “NYSGC”) with a central determinant monitoring and accounting system for the VLTs in operation at licensed State of New York gaming facilities. Pursuant to our agreement with the NYSGC, we receive a portion of the network-wide net win (generally, cash-in less prizes paid) per day in exchange for provision and maintenance of the central determinant system and recognize revenue over time, based on the timing services are provided. We also provide the central determinant system technology to Native American tribes in other licensed jurisdictions, for which we receive a portion of the revenue generated from the VLTs connected to the system. These arrangements are generally short-term in nature with payments due monthly.

Gaming operations revenues include amounts generated by our digital offering comprised of B2B activities. Our B2B operations provide games to our business customers, including both regulated real money and social casinos, which offer the games to consumers on their apps. Our B2B arrangements primarily provide access to our game content, and revenue is recognized over time as the control transfers upon our business partners’ daily access to such content based on either a flat fee or revenue share arrangements with the social and regulated real money casinos, based on the timing services are provided.

Gaming Equipment and Systems

Gaming equipment and systems revenues are derived from the sale of some combination of: (i) gaming equipment and player terminals; (ii) game content; (iii) license fees; and (iv) ancillary equipment, such as signage and lighting packages. Such arrangements are predominately short-term in nature with payment terms ranging from 30 to 180 days, and with certain agreements providing for extended payment terms up to 39 months. Each contract containing extended payment terms over a period of 12 months is evaluated for the presence of a financing component; however, our contracts generally do not contain a financing component that has been determined to be significant to the contract. Distinct and thus, separately identifiable performance obligations for gaming equipment and systems arrangements include gaming equipment, player terminals, content, system software, license fees, ancillary equipment, or various combinations thereof. Gaming equipment and systems revenues are recognized at a point in time when control of the promised goods and services transfers to the customer, which is generally upon shipment or delivery pursuant to the terms of the contract. The performance obligations are generally satisfied at the same time or within a short period of time.

Gaming Other

Gaming other revenues are generated from fees paid by casino customers that participate in our TournEvent of Champions® national slot tournament. Casinos, in partnership with Everi, host slot tournaments, in which winners of the local and regional tournaments throughout the year then participate in a national tournament that results in the determination of a final champion. Revenues are recognized as earned over a period of time, based on the timing services are provided. These arrangements are generally short-term in nature with payment terms ranging from 30 to 90 days.

FinTech Revenues

Financial Access Services

Financial Access Services revenues are generally comprised of the following distinct performance obligations: funds advanced, funds dispensed, and check services. We do not control the funds advanced and funds dispensed services provided to a customer and, therefore, we are acting as an agent whose performance obligation is to arrange for the provision of these services. Our financial access services involve the movement of funds between the various parties associated with financial access transactions and give rise to settlement receivables and settlement liabilities, both of which are settled in days following the transaction.

Funds advance revenues are primarily comprised of transaction fees assessed to gaming patrons in connection with credit card financial access and POS debit card financial access transactions. Such fees are primarily based on a combination of a fixed amount plus a percentage of the face amount of the credit card financial access or POS debit card financial access transaction amount. In connection with these types of transactions, we report certain direct costs incurred as reductions to revenues on a net basis, which generally include: (i) commission expenses payable to casino operators; (ii) interchange fees payable to the network associations; and (iii) processing and related costs payable to other third-party partners.

Funds dispensed revenues are primarily comprised of transaction fees in the form of cardholder surcharges assessed to gaming patrons in connection with funds dispensed cash withdrawals at the time the transactions are authorized and interchange reimbursement fees paid to us by the patrons’ issuing banks. The cardholder surcharges assessed to gaming patrons in connection with funds dispensed cash withdrawals are currently a fixed dollar amount and not a percentage of the transaction amount. In connection with these types of transactions, we report certain direct costs incurred as reductions to revenues on a net basis, which generally include: (i) commission expenses payable to casino operators; (ii) interchange fees payable to the network associations; and (iii) processing and related costs payable to other third-party partners.

Check services revenues are principally comprised of check warranty revenues and are generally based upon a percentage of the face amount of checks warranted. These fees are paid to us by gaming establishments. We report certain direct costs incurred as reductions to revenues on a net basis, which include: (i) warranty expenses, defined as amounts paid by the third-party check warranty service provider to gaming establishments to purchase dishonored checks; and (ii) service fees, defined as amounts paid to the third-party check warranty service provider for its assistance.

For financial access services arrangements, since the customer simultaneously receives and consumes the benefits as the performance obligations occur, we recognize revenues as earned over a period of time using an output method depicting the transfer of control to the customer based on variable consideration, such as volume of transactions processed with variability generally resolved in the reporting period.

Software and Other

Software and other revenues include amounts derived from our financial access, loyalty kiosk, compliance, and loyalty related revenue streams from the sale of: (i) software licenses, software subscriptions, professional services, and certain other ancillary fees; (ii) service-related fees associated with the sale, installation, training, and maintenance of equipment directly to our customers under contracts, which are generally short-term in nature with payment terms ranging from 30 to 90 days, secured by the related equipment; (iii) credit worthiness-related software subscription services that are based upon either a flat monthly unlimited usage fee or a variable fee structure driven by the volume of patron credit histories generated; and (iv) ancillary marketing and database services. Software license revenues are recognized at a point in time; software subscriptions are recognized over the term of the contract.

Hardware

Hardware revenues are derived from the sale of our financial access and loyalty kiosks and related equipment and are accounted for under ASC 606, unless such transactions meet definition of a sales type or direct financing lease which are accounted for under ASC 842. Revenues are recognized at a point in time when control of the promised goods and services transfers to the customer generally upon shipment or delivery pursuant to the terms of the contract. The sales contracts are generally short-term

in nature with payment terms ranging from 30 to 90 days, while certain agreements provide for extended payment terms of up to 60 months. Each contract containing extended payment terms over a period of 12 months is evaluated for the presence of a financing component; however, our contracts generally do not contain a financing component that has been determined to be significant to the contract.

Cost of Revenues (Exclusive of Depreciation and Amortization)

The cost of revenues (exclusive of depreciation and amortization) represents the direct costs required to perform revenue generating transactions. The costs included within cost of revenues (exclusive of depreciation and amortization) are inventory and related costs associated with the sale of our fully integrated kiosks, electronic gaming machines and system sale, check cashing warranties, field service, and network operations personnel.

Advertising, Marketing, and Promotional Costs

We expense advertising, marketing, and promotional costs as incurred. Total advertising, marketing, and promotional costs, included in operating expenses in the Statements of Operations, were $2.6 million, $1.3 million, and $5.0 million for the years ended December 31, 2021, 2020, and 2019, respectively.

Research and Development Costs

We conduct research and development activities for both our Games and FinTech segments. Our Gaming research and development activities are primarily to develop gaming systems, game engines, casino data management systems, central determination and other electronic bingo-outcome determination systems, video lottery outcome determination systems, gaming platforms and gaming content, and to enhance our existing product lines. Our FinTech research and development activities are primarily to develop: (i) payments products, systems, and related capabilities such as security, encryption, and business rule engines that deliver differentiated patron experiences and integrate with our other products; (ii) compliance products that increase efficiencies, profitability, enhance employee/patron relationships, and meet regulatory reporting requirements; and (iii) loyalty products, systems, and features that attract, engage, and retain patrons in more intuitive and contextual ways than our competition.

Research and development costs consist primarily of salaries and benefits, consulting fees, certification and testing fees. Once the technological feasibility has been established, the project is capitalized until it becomes available for general release.

Research and development costs were $39.1 million, $27.9 million, and $32.5 million for the years ended December 31, 2021, 2020, and 2019, respectively.

Income Taxes

We are subject to income taxes in the United States as well as various states and foreign jurisdictions in which we operate. Due to the 2017 Tax Act, there is no U.S. federal tax on cash repatriation from foreign subsidiaries; however, we could be subject to foreign withholding tax and U.S. state income taxes. The 2017 Tax Act also subjects our foreign subsidiary earnings to the Global Intangible Low-Taxed Income (“GILTI”) tax provisions. Some items of income and expense are not reported in tax returns and our Financial Statements in the same year. The tax effect of such temporary differences is reported as deferred income taxes.

Our deferred tax assets and liabilities are recognized for the expected future tax consequences of events that have been included in our Financial Statements or income tax returns. Deferred tax assets and liabilities are determined based upon differences between financial statement carrying amounts of existing assets and their respective tax bases using enacted tax rates expected to apply to taxable income in years in which those temporary differences are expected to be recovered or settled. The effect on the income tax provision or benefit and deferred tax assets and liabilities for a change in rates is recognized in the Statements of Operations in the period that includes the enactment date.

When measuring deferred tax assets, certain estimates and assumptions are required to assess whether a valuation allowance should be established by evaluating both positive and negative factors in accordance with accounting guidance. This evaluation requires that we exercise judgment in determining the relative significance of each factor. The assessment of the valuation allowance involves significant estimates regarding future taxable income and when it is recognized, the amount and timing of taxable differences, the reversal of temporary differences and the implementation of tax-planning strategies. A valuation allowance is established based on the weight of available evidence, including both positive and negative indicators, if it is more likely than not that a portion, or all, of the deferred tax assets will not be realized. Greater weight is given to evidence that is objectively verifiable, most notably historical results. If we report a cumulative loss from continuing operations before income taxes for a reasonable period of time, this form of negative evidence is difficult to overcome. In that case, we include certain aspects of our historical results in our forecasts of future taxable income, as we do not have the ability to solely rely on forecasted improvements in earnings to recover deferred tax assets. When we report a cumulative loss position, to the extent our results of operations improve, such that we have the ability to overcome the more likely than not accounting standard, we may be able to reverse the valuation allowance in the applicable period of determination. In addition, we rely on deferred tax liabilities in our assessment of the realizability of deferred tax assets if the temporary timing difference is anticipated to reverse in the same period and jurisdiction and the deferred tax liabilities are of the same character as the temporary differences giving rise to the deferred tax assets.

We also follow GAAP to account for uncertainty in income taxes as recognized in our Financial Statements. The accounting standard creates a single model to address uncertainty in income tax positions and prescribes the minimum recognition threshold a tax position is required to meet before being recognized in our Financial Statements. The standard also provides guidance on derecognition, measurement, classification, interest and penalties, accounting in interim periods, disclosure, and transition.

Under this standard, we may recognize tax benefits from an uncertain position only if it is more likely than not that the position will be sustained upon examination by taxing authorities based on the technical merits of the issue. The amount recognized is the largest benefit that we believe has greater than a 50% likelihood of being realized upon settlement. Actual income taxes paid may vary from estimates depending upon changes in income tax laws, actual results of operations, and the final audit of tax returns by taxing authorities. Tax assessments may arise several years after tax returns have been filed.

Employee Benefits Plan

The Company provides a 401(k) Plan that allows employees to defer up to the lesser of the Internal Revenue Code prescribed maximum amount or 75% of their income on a pre-tax basis through contributions to the plan. As a benefit to employees, the Company matches a percentage of these employee contributions (as defined in the plan document). As a direct result of the circumstances surrounding the global pandemic, we were unable to offer a Company match of employee contributions for a majority of 2020. Expenses related to the matching portion of the contributions to the 401(k) Plan were $2.6 million, $0.6 million, and $2.6 million for the years ended December 31, 2021, 2020, and 2019, respectively.

Fair Values of Financial Instruments

The fair value of a financial instrument represents the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. Fair value estimates are made at a specific point in time, based upon relevant market information about the financial instrument.

The carrying amount of cash and cash equivalents, restricted cash, settlement receivables, short-term trade and other receivables, settlement liabilities, accounts payable, and accrued expenses approximate fair value due to the short-term maturities of these instruments. The fair value of the long-term trade and loans receivable is estimated by discounting expected future cash flows using current interest rates at which similar loans would be made to borrowers with similar credit ratings and remaining maturities. The fair value of long-term accounts payable is estimated by discounting the total obligation using the appropriate interest rates. As of December 31, 2021 and 2020, the fair value of trade and loan receivable approximated the carrying value due to contractual terms generally being slightly over 12 months. The fair value of our borrowings is estimated based on various inputs to determine a market price, such as: market demand and supply, size of tranche, maturity, and similar instruments trading in more active markets.

The estimated fair value and outstanding balances of our borrowings are as follows (dollars in thousands):


	Level of Hierarchy	Fair Value		Outstanding Balance
December 31, 2021
$600 million New Term Loan	2	$	598,171	$	598,500
$400 million 2021 Unsecured Notes	2	$	404,000	$	400,000
December 31, 2020
Term loan	2	$	729,138	$	735,500
Incremental term loan	2	$	129,972	$	124,375
Senior unsecured notes	2	$	296,083	$	285,381

Our borrowings’ fair values were determined using Level 2 inputs based on quoted market prices for these securities.

Foreign Currency Translation

Foreign currency denominated assets and liabilities for those foreign entities for which the local currency is the functional currency are translated into U.S. dollars based on exchange rates prevailing at the end of each year. Revenues and expenses are translated at average exchange rates during the year. The effects of foreign exchange gains and losses arising from these translations are included as a component of other comprehensive income (loss) on the Statements of Operations. Translation adjustments on intercompany balances of a long-term investment nature are recorded as a component of accumulated other comprehensive loss on our Balance Sheets.

Use of Estimates

We have made estimates and judgments affecting the amounts reported in these financial statements and the accompanying notes in conformity with GAAP. The actual results may materially differ from these estimates.

Earnings Applicable to Common Stock

Basic earnings per share is calculated by dividing net income by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect the effect of potential common stock resulting from assumed stock option exercises and vesting of restricted stock unless it is anti-dilutive. To the extent we report a net loss from continuing operations in a particular period, no potential dilution from the application of the treasury stock method would be applicable.

Stock-Based Compensation

Stock-based compensation results in a cost that is measured at fair value on the grant date of an award. Generally, we issue grants that are classified as equity awards. However, if we issue grants that are considered liability awards, they are remeasured at fair value at the end of each reporting period until settlement with changes being recognized as stock-based compensation cost and a corresponding adjustment recorded to the liability, either immediately or during the remaining service period depending on the vested status of the award. Generally, with respect to stock option awards granted under our plans, they expire 10 years from the date of grant with the exercise price based on the closing market price of our common stock on the date of the grant.

Our restricted stock awards, restricted stock units, and performance-based stock units are measured at fair value based on the closing stock price on the grant date. Our time-based stock option awards are measured at fair value on the grant date using the Black Scholes model. The stock-based compensation cost is recognized on a straight-line basis over the vesting period of the awards.

Forfeiture amounts are estimated at the grant date for stock awards and are updated periodically based on actual results, to the extent they differ from the estimates.

Acquisition-Related Costs

We recognize a liability for acquisition-related costs when the expense is incurred. Acquisition-related costs include, but are not limited to: financial advisory, legal and debt fees; accounting, consulting, and professional fees associated with due diligence, valuation, and integration; severance; and other related costs and adjustments.

Reclassification of Balances

Certain amounts in the accompanying consolidated financial statements and accompanying notes have been reclassified to be consistent with the current year presentation. These reclassifications had no effect on net income for the prior periods.

Recent Accounting Guidance

Recently Adopted Accounting Guidance


Standard	Description	Date of Adoption	Effect on Financial Statements
Accounting Standard Update (“ASU”) No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes	This ASU simplifies the accounting for income taxes by removing certain exceptions for investments, intraperiod allocations, and interim calculations, and adds guidance to reduce the complexity of applying Topic 740.	January 1, 2021	The adoption of this ASU did not have a material effect on our Financial Statements or on our disclosures.

Recent Accounting Guidance Not Yet Adopted


Standard	Description	Date of Planned Adoption	Effect on Financial Statements
ASU 2021-05, 'Leases (Topic 842): Lessors—Certain Leases with Variable Lease Payments	This ASU amends the lease classification requirements for lessors to align them with practice under ASC Topic 840.	January 1, 2022	We are currently evaluating the impact of adopting this ASU on our Financial Statements and our disclosures; however, we do not expect the impact to be material.

As of December 31, 2021, other than what has been described above, we do not anticipate recently issued accounting guidance to have a significant impact on our consolidated financial statements.

LEASES

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases

LEASES

We determine if a contract is, or contains, a lease at the inception, or modification, of a contract based on whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control over the use of an asset is predicated upon the notion that a lessee has both the right to (i) obtain substantially all of the economic benefit from the use of the asset; and (ii) direct the use of the asset.

Operating lease right-of-use (“ROU”) assets and liabilities are recognized based on the present value of minimum lease payments over the expected lease term at commencement date. Lease expense is recognized on a straight-line basis over the expected lease term. Our lease arrangements have both lease and non-lease components, and we have elected the practical expedient to account for the lease and non-lease elements as a single lease.

Certain of our lease arrangements contain options to renew with terms that generally have the ability to extend the lease term to a range of approximately one to ten years. The exercise of lease renewal options is generally at our sole discretion. The expected lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise such option. The depreciable life of leased assets and leasehold improvements are limited by the expected term of such assets, unless there is a transfer of title or purchase option reasonably certain to be exercised.

Lessee

We enter into operating lease agreements for real estate purposes that generally consist of buildings for office space and warehouses for manufacturing purposes. Certain of our lease agreements consist of rental payments that are periodically adjusted for inflation. Our lease agreements do not contain material residual value guarantees or material restrictive covenants. Our lease agreements do not generally provide explicit rates of interest; therefore, we use our incremental collateralized borrowing rate, which is based on a fully collateralized and fully amortizing loan with a maturity date the same as the length of the lease that is based on the information available at the commencement date to determine the present value of lease payments.

Leases with an initial expected term of 12 months or less (short-term) are not accounted for on our Balance Sheets. As of December 31, 2021 and December 31, 2020, our finance leases were not material.

Supplemental balance sheet information related to our operating leases is as follows (in thousands):


	Classification on our Balance Sheets	At December 31, 2021		At December 31, 2020
Assets
Operating lease ROU assets	Other assets, non-current	$	12,692	$	16,104
Liabilities
Current operating lease liabilities	Accounts payable and accrued expenses	$	5,663	$	5,649
Non-current operating lease liabilities	Other accrued expenses and liabilities	$	11,869	$	16,077

Supplemental cash flow information related to leases is as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Cash paid for:
Long-term operating leases	$	6,675	$	6,411	$	5,893
Short-term operating leases	$	1,622	$	1,908	$	1,799
Right-of-use assets obtained in exchange for lease obligations:
Operating leases(1)	$	1,362	$	10,356	$	16,533	(2)

(1) The amounts are presented net of current year terminations and exclude amortization for the period.

(2) The amount includes approximately $13.6 million of operating lease ROU assets obtained in exchange for existing lease obligations due to the adoption of ASC 842 (net of operating lease terminations occurring in 2019 in the amount of approximately $0.5 million), and approximately $2.5 million of operating lease ROU assets obtained in exchange for new lease obligations entered into during the year ended December 31, 2019.

Other information related to lease terms and discount rates is as follows:


	At December 31, 2021		At December 31, 2020
Weighted Average Remaining Lease Term (in years):
Operating leases	3.52		4.16
Weighted Average Discount Rate:
Operating leases	5.04	%	5.16	%

Components of lease expense are as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Operating Lease Cost:
Operating lease cost (1)	$	5,474	$	5,770	$	4,907
Variable lease cost	$	1,267	$	1,682	$	1,619

(1) The amount includes approximately $4.4 million, $4.9 million and $4.3 million in non-cash lease expense attributable to amortization of ROU assets for the years ended December 31, 2021, 2020 and 2019, respectively.

Maturities of lease liabilities are summarized as follows as of December 31, 2021 (in thousands):


Year ending December 31,	Amount
2022	$	6,386
2023	5,001
2024	3,739
2025	2,971
2026	889
Thereafter	154
Total future minimum lease payments	$	19,140
Amount representing interest	(1,608)
Present value of future minimum lease payments	$	17,532
Current operating lease obligations	(5,663)
Long-term lease obligations	$	11,869

Lessor

We generate lease revenues primarily from our gaming operations activities, and the majority of our leases are month-to-month leases. Under these arrangements, we retain ownership of the electronic gaming machines (“EGMs”) installed at customer facilities. We receive recurring revenues based on a percentage of the net win per day generated by the leased gaming equipment or a fixed daily fee. Such revenues are generated daily and are limited to the lesser of the net win per day generated by the leased gaming equipment or the fixed daily fee and the lease payments that have been collected from the lessee. Certain of our leases have terms and conditions with options for a lessee to purchase the underlying assets. Refer to “Note 2 — Basis of Presentation and Summary of Significant Accounting Policies” for further discussion of lease revenues. The cost of EGMs the Company is leasing to third-parties as of December 31, 2021 is approximately $249.0 million.

We did not have material sales transactions that qualified for sales-type lease accounting treatment during the years ending December 31, 2021 and December 31, 2020.

Supplemental balance sheet information related to our sales-type leases is as follows (in thousands):


	Classification on our Balance Sheets	At December 31, 2021		At December 31, 2020
Assets
Net investment in sales-type leases — current	Trade and other receivables, net	$	1,331	$	1,397
Net investment in sales-type leases — non-current	Other receivables	$	—	$	803

Leases

LEASES

We determine if a contract is, or contains, a lease at the inception, or modification, of a contract based on whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control over the use of an asset is predicated upon the notion that a lessee has both the right to (i) obtain substantially all of the economic benefit from the use of the asset; and (ii) direct the use of the asset.

Operating lease right-of-use (“ROU”) assets and liabilities are recognized based on the present value of minimum lease payments over the expected lease term at commencement date. Lease expense is recognized on a straight-line basis over the expected lease term. Our lease arrangements have both lease and non-lease components, and we have elected the practical expedient to account for the lease and non-lease elements as a single lease.

Certain of our lease arrangements contain options to renew with terms that generally have the ability to extend the lease term to a range of approximately one to ten years. The exercise of lease renewal options is generally at our sole discretion. The expected lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise such option. The depreciable life of leased assets and leasehold improvements are limited by the expected term of such assets, unless there is a transfer of title or purchase option reasonably certain to be exercised.

Lessee

We enter into operating lease agreements for real estate purposes that generally consist of buildings for office space and warehouses for manufacturing purposes. Certain of our lease agreements consist of rental payments that are periodically adjusted for inflation. Our lease agreements do not contain material residual value guarantees or material restrictive covenants. Our lease agreements do not generally provide explicit rates of interest; therefore, we use our incremental collateralized borrowing rate, which is based on a fully collateralized and fully amortizing loan with a maturity date the same as the length of the lease that is based on the information available at the commencement date to determine the present value of lease payments.

Leases with an initial expected term of 12 months or less (short-term) are not accounted for on our Balance Sheets. As of December 31, 2021 and December 31, 2020, our finance leases were not material.

Supplemental balance sheet information related to our operating leases is as follows (in thousands):


	Classification on our Balance Sheets	At December 31, 2021		At December 31, 2020
Assets
Operating lease ROU assets	Other assets, non-current	$	12,692	$	16,104
Liabilities
Current operating lease liabilities	Accounts payable and accrued expenses	$	5,663	$	5,649
Non-current operating lease liabilities	Other accrued expenses and liabilities	$	11,869	$	16,077

Supplemental cash flow information related to leases is as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Cash paid for:
Long-term operating leases	$	6,675	$	6,411	$	5,893
Short-term operating leases	$	1,622	$	1,908	$	1,799
Right-of-use assets obtained in exchange for lease obligations:
Operating leases(1)	$	1,362	$	10,356	$	16,533	(2)

(1) The amounts are presented net of current year terminations and exclude amortization for the period.

(2) The amount includes approximately $13.6 million of operating lease ROU assets obtained in exchange for existing lease obligations due to the adoption of ASC 842 (net of operating lease terminations occurring in 2019 in the amount of approximately $0.5 million), and approximately $2.5 million of operating lease ROU assets obtained in exchange for new lease obligations entered into during the year ended December 31, 2019.

Other information related to lease terms and discount rates is as follows:


	At December 31, 2021		At December 31, 2020
Weighted Average Remaining Lease Term (in years):
Operating leases	3.52		4.16
Weighted Average Discount Rate:
Operating leases	5.04	%	5.16	%

Components of lease expense are as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Operating Lease Cost:
Operating lease cost (1)	$	5,474	$	5,770	$	4,907
Variable lease cost	$	1,267	$	1,682	$	1,619

(1) The amount includes approximately $4.4 million, $4.9 million and $4.3 million in non-cash lease expense attributable to amortization of ROU assets for the years ended December 31, 2021, 2020 and 2019, respectively.

Maturities of lease liabilities are summarized as follows as of December 31, 2021 (in thousands):


Year ending December 31,	Amount
2022	$	6,386
2023	5,001
2024	3,739
2025	2,971
2026	889
Thereafter	154
Total future minimum lease payments	$	19,140
Amount representing interest	(1,608)
Present value of future minimum lease payments	$	17,532
Current operating lease obligations	(5,663)
Long-term lease obligations	$	11,869

Lessor

We generate lease revenues primarily from our gaming operations activities, and the majority of our leases are month-to-month leases. Under these arrangements, we retain ownership of the electronic gaming machines (“EGMs”) installed at customer facilities. We receive recurring revenues based on a percentage of the net win per day generated by the leased gaming equipment or a fixed daily fee. Such revenues are generated daily and are limited to the lesser of the net win per day generated by the leased gaming equipment or the fixed daily fee and the lease payments that have been collected from the lessee. Certain of our leases have terms and conditions with options for a lessee to purchase the underlying assets. Refer to “Note 2 — Basis of Presentation and Summary of Significant Accounting Policies” for further discussion of lease revenues. The cost of EGMs the Company is leasing to third-parties as of December 31, 2021 is approximately $249.0 million.

We did not have material sales transactions that qualified for sales-type lease accounting treatment during the years ending December 31, 2021 and December 31, 2020.

Supplemental balance sheet information related to our sales-type leases is as follows (in thousands):


	Classification on our Balance Sheets	At December 31, 2021		At December 31, 2020
Assets
Net investment in sales-type leases — current	Trade and other receivables, net	$	1,331	$	1,397
Net investment in sales-type leases — non-current	Other receivables	$	—	$	803

BUSINESS COMBINATIONS	12 Months Ended
BUSINESS COMBINATIONS	Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]
BUSINESS COMBINATIONS	BUSINESS COMBINATIONS We had no material acquisitions for the year ended December 31, 2021, and 2020, respectively. The following is a summary of business combinations completed during the year ended December 31, 2019. Atrient, Inc. On March 8, 2019, we acquired certain assets of Atrient, Inc. (“Atrient,” the “Seller”), a privately held company that developed and distributed hardware and software applications to gaming operators to enhance gaming patron loyalty, pursuant to an asset purchase agreement. This acquisition included existing contracts with gaming operators, technology, and intellectual property that allow us to provide gaming operators with self-service enrollment, loyalty and marketing equipment, a mobile application to offer a gaming operator’s patrons additional flexibility in accessing casino promotions, and a marketing platform that manages and delivers a gaming operator’s marketing programs through these patron interfaces. This acquisition expanded our financial technology solutions offerings within our FinTech segment. Under the terms of the asset purchase agreement, we paid the Seller $20.0 million at the closing of the transaction, $10.0 million one year following the closing and another $10.0 million during the year ended December 31, 2021. The related liabilities were recorded at fair value on the acquisition date as part of the consideration transferred and were included in accounts payable and accrued expenses as of December 31, 2020. Furthermore, an additional amount of approximately $9.9 million in contingent consideration was earned by the Seller based upon the achievement of certain revenue targets over the first two years post-closing, which we paid in June 2021. The related liabilities were recorded at fair value on the acquisition date as part of the consideration transferred and were remeasured each reporting period. The inputs used to measure the fair value of our liabilities were categorized as Level 3 in the fair value hierarchy. Contingent consideration liabilities as of December 31, 2020 were approximately $9.9 million, and were included in accounts payable and accrued expenses in our Balance Sheets as of December 31, 2020. Micro Gaming Technologies, Inc. On December 24, 2019, we acquired certain assets of Micro Gaming Technologies, Inc. (“MGT”), a privately held company that developed and distributed kiosks and software applications to gaming patrons to enhance patron loyalty, in an asset purchase agreement. The acquired assets consisted of existing contracts with gaming operators, technology, and intellectual property intended to allow us to provide gaming operators with self-service patron loyalty functionality delivered through stand-alone kiosk equipment and a marketing platform that manages and delivers gaming operators marketing programs through these patron interfaces. This acquisition further expanded our financial technology loyalty offerings within our FinTech segment. Under the terms of the asset purchase agreement, we paid MGT $15.0 million at the closing of the transaction, with an additional $5.0 million due by April 1, 2020 and a final payment of $5.0 million due two years following the date of closing. In the second quarter of 2020, we entered into an amendment to the asset purchase agreement allowing us to remit the additional $5.0 million by July 1, 2020, which we paid in June 2020. The final payment of $5.0 million due by July 1, 2021 was paid in June 2021. The related liabilities were recorded at fair value on the acquisition date as part of the consideration transferred and were included in accounts payable and accrued expenses as of December 31, 2020. The total consideration for this acquisition was $25.0 million. The acquisition did not have a significant impact on our results of operations or financial condition.

FUNDING AGREEMENTS	12 Months Ended
FUNDING AGREEMENTS	Dec. 31, 2021
A T M Funding Agreement Disclosure [Abstract]
FUNDING AGREEMENTS	FUNDING AGREEMENTS Commercial Cash Arrangements We have commercial arrangements with third-party vendors to provide cash for certain of our fund dispensing devices. For the use of these funds, we pay a usage fee on either the average daily balance of funds utilized multiplied by a contractually defined usage rate or the amounts supplied multiplied by a contractually defined usage rate. These fund usage fees, reflected as interest expense within the Statements of Operations, were approximately $4.0 million, $3.1 million, and $7.2 million for the years ended December 31, 2021, 2020, and 2019, respectively. We are exposed to interest rate risk to the extent that the applicable rates increase. Under these agreements, the currency supplied by third party vendors remain their sole property until the funds are dispensed. As these funds are not our assets, supplied cash is not reflected in our Balance Sheets. The outstanding balance of funds provided from the third parties were approximately $401.8 million and $340.3 million as of December 31, 2021 and 2020, respectively. Our primary commercial arrangement, the Contract Cash Solutions Agreement, as amended, is with Wells Fargo, N.A. (“Wells Fargo”). Wells Fargo provides us with cash up to $300 million with the ability to increase the amount as defined within the agreement or otherwise permitted by the vault cash provider. The term of the agreement expires on June 30, 2023 and will automatically renew for additional one-year periods unless either party provides a ninety-day written notice of its intent not to renew. We are responsible for losses of cash in the fund dispensing devices under this agreement, and we self-insure for this type of risk. There were no material losses for the years ended December 31, 2021, 2020, and 2019. Site-Funded ATMs We operate ATMs at certain customers’ gaming establishments where the gaming establishment provides the cash required for the ATMs’ operational needs. We are required to reimburse the customer for the amount of cash dispensed from these site-funded ATMs. The site-funded ATM liability included within settlement liabilities in the accompanying Balance Sheets was approximately $194.3 million and $125.3 million as of December 31, 2021 and 2020, respectively. Everi-Funded ATMs We enter into agreements with international customers for certain of our ATMs whereby we provide the cash required to operate the ATMs. The amount of cash supplied by Everi represents an outstanding balance under such agreements at the end of the period. Such amounts are reported within settlement receivables line on our Balance Sheets. The outstanding balances in connection with these arrangements were immaterial at December 31, 2021 and 2020. Pre-Funded Financial Access Agreements Due to regulatory requirements in certain jurisdictions, some international gaming establishments require pre-funding of cash to cover the outstanding settlement amounts in order for us to provide financial access services to their properties. We enter into agreements with these gaming operators for which we supply our financial access services to their properties. Under these agreements, we maintain sole discretion to either continue or cease operations as well as discretion over the amounts pre-funded to the properties and may request amounts to be refunded to us, with appropriate notice to the operator, at any time. The initial pre-funded amounts and subsequent amounts from the settlement of transactions are deposited into a bank account that is to be used exclusively for financial access services, and we maintain the right to monitor the transaction activity in that account. The total amount of pre-funded cash outstanding was approximately $3.0 million and $2.6 million at December 31, 2021 and 2020, respectively, and is included in prepaid expenses and other current assets line on our Balance Sheets.

TRADE AND OTHER RECEIVABLES

12 Months Ended

Dec. 31, 2021

Receivables [Abstract]

TRADE AND OTHER RECEIVABLES

TRADE AND OTHER RECEIVABLES Trade and other receivables represent short-term credit granted to customers and long-term loans receivable in connection with our Games and FinTech equipment and compliance products. Trade and loans receivables generally do not require collateral.

The balance of trade and loans receivables consists of outstanding balances owed to us by gaming establishments. Other receivables include income tax receivables and other miscellaneous receivables.

The balance of trade and other receivables consisted of the following (in thousands):


	At December 31,
	2021		2020
Trade and other receivables, net
Games trade and loans receivables	$	77,053	$	44,794
FinTech trade and loans receivables	21,504		14,683
Contract assets (1)	15,221		17,561
Insurance settlement receivable (2)	—		7,650
Other receivables	3,695		1,923
Net investment in sales-type leases	1,331		2,200
Total trade and other receivables, net	118,804		88,811
Non-current portion of receivables
Games trade and loans receivables	(1,348)		(1,333)
FinTech trade and loans receivables	(7,340)		(4,163)
Contract assets (1)	(5,294)		(8,321)
Net investment in sales-type leases	—		(803)
Total non-current portion of receivables	(13,982)		(14,620)
Total trade and other receivables, current portion	$	104,822	$	74,191

(1) Refer to “Note 2 — Basis of Presentation and Summary of Significant Accounting Policies” for a discussion on the contract assets.

(2) Refer to “Note 13 — Commitments and Contingencies” for a discussion on the insurance settlement receivable.

Allowance for Credit Losses

The activity in our allowance for credit losses for the years ended December 31, 2021 and 2020 is as follows (in thousands):


	At December 31,
	2021		2020
Beginning allowance for credit losses	$	(3,689)	$	(5,786)
Provision	(7,540)		(8,010)
Charge-offs and recoveries	6,068		10,107
Ending allowance for credit losses	$	(5,161)	$	(3,689)

INVENTORY

12 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

INVENTORY

Our inventory primarily consists of component parts as well as work-in-progress and finished goods. The cost of inventory includes cost of materials, labor, overhead and freight, and is accounted for using the first in, first out method. The inventory is stated at the lower of cost or net realizable value.

Inventory consisted of the following (in thousands):


	At December 31,
	2021		2020
Inventory
Component parts, net of reserves of $2,422 and $1,262 at December 31, 2021 and December 31, 2020, respectively	$	22,490	$	21,560
Work-in-progress	554		182
Finished goods	6,189		6,000
Total inventory	$	29,233	$	27,742

PREPAID EXPENSES AND OTHER ASSETS

12 Months Ended

Dec. 31, 2021

Prepaid Expense and Other Assets [Abstract]

PREPAID EXPENSES AND OTHER ASSETS

Prepaid expenses and other assets include the balance of prepaid expenses, deposits, debt issuance costs on our New Revolver, restricted cash, operating lease ROU assets, and other assets. The current portion of these assets is included in prepaid expenses and other current assets and the non-current portion is included in other assets, both of which are contained within our Balance Sheets.

The balance of the current portion of prepaid expenses and other assets consisted of the following (in thousands):


	At December 31,
	2021		2020
Prepaid expenses and other current assets
Prepaid expenses	$	14,389	$	11,282
Deposits	7,709		4,133
Restricted cash(1)	1,616		542
Other	3,585		1,391
Total prepaid expenses and other current assets	$	27,299	$	17,348

(1) Refer to “Note 2 — Basis of Presentation and Summary of Significant Accounting Policies” for discussion on the composition of the restricted cash balance.

The balance of the non-current portion of other assets consisted of the following (in thousands):


	At December 31,
	2021		2020
Other assets
Operating lease ROU assets	$	12,692	$	16,104
Prepaid expenses and deposits	4,789		4,952
Debt issuance costs of revolving credit facility	1,760		267
Other	418		673
Total other assets	$	19,659	$	21,996

PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

Property and equipment consist of the following (in thousands):


		At December 31, 2021						At December 31, 2020
	Useful Life (Years)	Cost		Accumulated Depreciation		Net Book Value		Cost		Accumulated Depreciation		Net Book Value
Property and equipment
Rental pool - deployed	2-4	$	248,958	$	166,075	$	82,883	$	216,775	$	136,975	$	79,800
Rental pool - undeployed	2-4	23,284		18,285		4,999		21,974		16,680		5,294
FinTech equipment	1-5	32,802		21,257		11,545		33,349		21,947		11,402
Leasehold and building improvements	Lease Term	12,598		9,234		3,364		11,352		8,557		2,795
Machinery, office, and other equipment	1-5	45,277		28,075		17,202		45,085		32,053		13,032
Total		$	362,919	$	242,926	$	119,993	$	328,535	$	216,212	$	112,323

Depreciation expense related to property and equipment totaled approximately $61.5 million, $67.5 million, and $63.2 million for the years ended December 31, 2021, 2020, and 2019, respectively.

GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

Goodwill represents the excess of the purchase price over the identifiable tangible and intangible assets acquired plus liabilities assumed arising from business combinations. The balance of goodwill was approximately $682.7 million and $682.0 million at December 31, 2021 and 2020, respectively. We have the following reporting units: (i) Games; (ii) Financial Access Services; (iii) Kiosk Sales and Services; (iv) Central Credit Services; (v) Compliance Sales and Services; and (vi) Loyalty Sales and Services.

In accordance with ASC 350 (“Intangibles—Goodwill and Other”), we test goodwill at the reporting unit level, which is identified as an operating segment or one level below, for impairment on an annual basis and between annual tests if events and circumstances indicate it is more likely than not that the fair value of a reporting unit is less than its carrying amount.

We test our goodwill for impairment on October 1 each year, or more frequently if events or changes in circumstances indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. The annual impairment test is completed using either: a qualitative “Step 0” assessment based on reviewing relevant events and circumstances or a quantitative “Step 1” assessment, which determines the fair value of the reporting unit, using both an income approach that discounts future cash flows based on the estimated future results of our reporting units and a market approach that compares market multiples of comparable companies to determine whether or not any impairment exists. To the extent the carrying amount of a reporting unit is less than its estimated fair value, an impairment charge is recorded.

In connection with our annual goodwill impairment testing process for 2021 and 2020, we determined that no impairment adjustments were necessary for each of our reporting units.

The changes in the carrying amount of goodwill are as follows (in thousands):


	Games		Financial Access Services		Kiosk Sales and Services		Central Credit Services		Compliance Sales and Services		Loyalty Sales and Services		Total
Goodwill
Balance, December 31, 2019	$	449,041	$	157,074	$	5,745	$	17,127	$	11,578	$	41,070	$	681,635
Foreign translation adjustment	—		14		—		—		—		—		14
Acquisitions	—		—		—		—		—		325		325
Balance, December 31, 2020	$	449,041	$	157,088	$	5,745	$	17,127	$	11,578	$	41,395	$	681,974
Foreign translation adjustment	—		2		—		—		—		—		2
Acquisitions	—		—		—		—		687		—		687
Balance, December 31, 2021	$	449,041	$	157,090	$	5,745	$	17,127	$	12,265	$	41,395	$	682,663

Other Intangible Assets

Other intangible assets consist of the following (in thousands):


		At December 31, 2021						At December 31, 2020
	Useful Life (Years)	Cost		Accumulated Amortization		Net Book Value		Cost		Accumulated Amortization		Net Book Value
Other intangible assets
Contract rights under placement fee agreements	3-7	$	58,837	$	4,237	$	54,600	$	60,561	$	28,108	$	32,453
Customer contracts	3-14	72,138		58,758		13,380		71,975		54,407		17,568
Customer relationships	8-12	231,100		147,515		83,585		231,100		126,549		104,551
Developed technology and software	1-6	342,309		280,412		61,897		313,957		255,771		58,186
Patents, trademarks, and other	2-18	20,547		19,415		1,132		19,682		17,813		1,869
Total		$	724,931	$	510,337	$	214,594	$	697,275	$	482,648	$	214,627

Amortization expense related to other intangible assets totaled approximately $58.0 million, $75.3 million, and $68.9 million for the years ended December 31, 2021, 2020, and 2019, respectively. We capitalized $30.2 million, $21.2 million, and $43.7 million of internally-developed software costs for the years ended December 31, 2021, 2020, and 2019, respectively.

On a quarterly basis, we evaluate our other intangible assets for potential impairment as part of our review process. There was no material impairment identified for any of our other intangible assets for the years ended December 31, 2021 and 2019. During 2020, we recorded a full write-down of intangible assets of approximately $6.3 million, of which $6.0 million and $0.3 million, related to our Games and FinTech businesses, respectively, for certain of our internally developed and third-party software projects that were not expected to be pursued. This charge was reflected in Operating Expenses of our Statement of Operations.

The anticipated amortization expense related to other intangible assets, assuming no subsequent impairment of the underlying assets, is as follows (in thousands):


Anticipated amortization expense	Amount
2022	$	57,122
2023	38,104
2024	28,402
2025	26,342
2026	25,712
Thereafter	11,327
Total (1)	$	187,009

(1) For the year ended December 31, 2021, the Company had $27.6 million in other intangible assets that had not yet been placed into service.

Placement fees and amounts advanced in excess of those to be reimbursed by the customer for real property and land improvements are allocated to intangible assets and are generally amortized over the term of the contract, which is recorded as a reduction of revenue generated from the facility. In the past we have, and in the future, we may, by mutual agreement, amend the agreements to reduce our floor space at these facilities. Any proceeds received for the reduction of floor space are first applied against the intangible asset for that particular placement fee agreement, if any, and the remaining net book value of the intangible asset is prospectively amortized on a straight-line method over its remaining estimated useful life.

We paid approximately $31.5 million, $3.1 million, and $17.7 million in placement fees for the years ended December 31, 2021, 2020, and 2019, respectively. In September 2021, we entered into a placement fee agreement with a customer for certain of its locations for approximately $28.9 million, which we settled in October 2021. There were no material imputed interest amounts recorded in connection with these payments for the years ended December 31, 2021 and 2020, respectively. For the year ended December 31, 2019, the payments made included approximately $0.6 million of imputed interest.

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

12 Months Ended

Dec. 31, 2021

Payables and Accruals [Abstract]

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

The following table presents our accounts payable and accrued expenses (amounts in thousands):


	At December 31,
	2021		2020
Accounts payable and accrued expenses
Customer commissions payable	57,515		39,028
Contract liabilities	36,238		26,980
Payroll and related expenses	29,125		13,357
Accounts payable - trade	25,453		15,503
Accrued interest	9,273		1,068
Operating lease liabilities	5,663		5,649
Financial access processing and related expenses (1)	3,619		1,109
Accrued income taxes	2,756		1,329
Contingent consideration and acquisition-related liabilities (2)	—		24,674
Litigation accrual (3)	—		12,727
Other	4,291		3,605
Total accounts payable and accrued expenses	$	173,933	$	145,029

(1) Refer to “Note 12 — Long-Term Debt ” for further discussion.

(2) Refer to “Note 4 — Business Combinations” for discussion on contingent consideration and acquisition-related liabilities.

(3) Refer to “Note 13 — Commitments and Contingencies” for discussion on this legal matter.

LONG-TERM DEBT

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

LONG-TERM DEBT

The following table summarizes our indebtedness (in thousands):


	Maturity	Interest	At December 31,
	Date	Rate	2021		2020
Long-term debt
$600 million New Term Loan	2028	LIBOR+2.50%	$	598,500	$	—
$125 million New Revolver	2026	LIBOR+2.50%	—		—
$820 million Prior Term Loan	2024	LIBOR+2.75%	—		735,500
$125 million Prior Incremental Term Loan	2024	LIBOR+10.50%	—		124,375
Senior Secured Credit Facilities			598,500		859,875
$400 million 2021 Unsecured Notes	2029	5.00%	400,000		—
$375 million 2017 Unsecured Notes	2025	7.50%	—		285,381
Total debt			998,500		1,145,256
Debt issuance costs and discount			(16,975)		(16,003)
Total debt after debt issuance costs and discount			981,525		1,129,253
Current portion of long-term debt			(6,000)		(1,250)
Total long-term debt, net of current portion			$	975,525	$	1,128,003

New Credit Facilities

The Company, as borrower, entered into a credit agreement dated August 3, 2021 (the “Closing Date”), among the Company, the lenders party thereto and Jefferies Finance LLC, as administrative agent, collateral agent, swing line lender and a letter of credit issuer (the “New Credit Agreement”). The New Credit Agreement provides for: (i) a seven-year $600 million senior secured term loan due 2028 issued at 99.75% of par (the “New Term Loan”); and (ii) a $125 million senior secured revolving credit facility due 2026, which was undrawn at closing (the “New Revolver” and together with the New Term Loan, the “New Credit Facilities”).

The fees associated with the New Credit Facilities were approximately $13.9 million, which included discounts of approximately $1.5 million.

The interest rate per annum applicable to the New Credit Facilities will be, at the Company’s option, either the Eurodollar rate with a 0.50% LIBOR floor plus a margin of 2.50% or the base rate plus a margin of 1.50%.

The New Revolver is available for general corporate purposes, including permitted acquisitions, working capital and the issuance of letters of credit. Borrowings under the New Revolver are subject to the satisfaction of customary conditions, including the absence of defaults and the accuracy of representations and warranties.

The Company is required to make periodic payments on the New Term Loan in an amount equal to 0.25% per quarter of the initial aggregate principal, with the final principal repayment installment on the maturity date. Interest is due in arrears on each interest payment date applicable thereto and at such other times as may be specified in the New Credit Agreement. As to any loan other than a base rate loan, the interest payment dates shall be the last day of each interest period applicable to such loan and the maturity date (provided, however, that if any interest period for a Eurodollar Rate loan exceeds three months, the respective dates that fall every three months after the beginning of such interest period shall also be interest payment dates). As to any base rate loan, commencing on the last business day of December 2021, the interest payment dates shall be last business day of each of March, June, September and December and the maturity date.

Voluntary prepayments of the New Term Loan and the New Revolver and voluntary reductions in the unused commitments are permitted in whole or in part, in minimum amounts as set forth in the New Credit Agreement governing the New Credit Facilities, with prior notice, and without premium or penalty, except that certain refinancings or repricings of the New Term Loan within six months after the Closing Date will be subject to a prepayment premium of 1.00% of the principal amount repaid.

The New Credit Agreement contains certain covenants that, among other things, limit the Company’s ability, and the ability of certain of its subsidiaries, to incur additional indebtedness, sell assets or consolidate or merge with or into other companies, pay dividends or repurchase or redeem capital stock, make certain investments, issue capital stock of subsidiaries, incur liens, prepay, redeem or repurchase subordinated debt, and enter into certain types of transactions with its affiliates. The New Credit Agreement also requires the Company, together with its subsidiaries, to comply with a maximum consolidated secured leverage ratio of 4.25:1.00 as of the measurement date.

The weighted average interest rate on the New Term Loan was 3.00% for the year ended December 31, 2021.

2021 Senior Unsecured Notes

On July 15, 2021, the Company, as issuer, completed the debt offering (the “Offering”) of $400 million in aggregate principal amount of Everi’s 5.00% senior unsecured notes due 2029 (the “2021 Unsecured Notes”). Pursuant to a Purchase Agreement dated June 30, 2021 (the “Purchase Agreement”) by and among the Company and certain of Everi’s direct and indirect domestic subsidiaries, as guarantors (collectively the “Guarantors”), and Jefferies LLC as representative of the several initial purchasers (collectively the “Initial Purchasers”), the Company issued, at a price of par, and sold the 2021 Unsecured Notes to the Initial Purchasers for resale to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to certain non-U.S. persons pursuant to Regulation S of the Securities Act. The 2021 Unsecured Notes, and guarantees thereof, have not been and will not be registered under the Securities Act or the securities laws of any state or other jurisdictions, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.

The fees associated with the 2021 Unsecured Notes included debt issuance costs of approximately $5.9 million.

The 2021 Unsecured Notes were issued under an indenture (the “Indenture”) dated July 15, 2021 by and among Everi, the Guarantors and Deutsche Bank Trust Company Americas, as trustee (the “Trustee”). The 2021 Unsecured Notes are fully and unconditionally guaranteed on a senior unsecured basis by the Guarantors. Interest on the 2021 Unsecured Notes accrues at a rate of 5.00% per annum and is payable semi-annually in arrears on each January 15 and July 15 (the “Interest Payment Dates”), commencing on January 15, 2022. The Company will make each interest payment to the holders of record on each January 1 and July 1 immediately preceding the Interest Payment Dates. The 2021 Unsecured Notes will mature on July 15, 2029.

The 2021 Unsecured Notes and the related guarantees are senior obligations of Everi and the Guarantors, respectively, and rank equally with all of the Company’s and each Guarantor’s present and future senior indebtedness and rank senior in right of payment to all of Everi’s and each Guarantor’s present and future subordinated indebtedness. The 2021 Unsecured Notes and related guarantees are effectively subordinated to all of Everi’s and each Guarantor’s present and future secured indebtedness

(to the extent of the value of the assets securing such indebtedness). The 2021 Unsecured Notes are structurally subordinated in right of payment to all present and future indebtedness and other liabilities of the Company’s subsidiaries that do not guarantee the 2021 Unsecured Notes.

The Company will have the option to redeem some, or all, of the 2021 Unsecured Notes at any time on, or after, July 15, 2024 at the redemption prices set forth in the Indenture, plus accrued and unpaid interest, if any, to the date of redemption. Everi will also have the option to redeem some, or all, of the 2021 Unsecured Notes at any time prior to July 15, 2024 at a redemption price of 100% of the principal amount of the 2021 Unsecured Notes to be redeemed, plus an applicable premium and accrued and unpaid interest, if any, to the date of redemption. In addition, at any time before July 15, 2024, the Company may redeem up to 40% of the aggregate principal amount of the 2021 Unsecured Notes at a redemption price of 105.00% of the principal amount of the 2021 Unsecured Notes redeemed together with accrued and unpaid interest to, but excluding, the redemption date with the proceeds from certain equity issuances. The 2021 Unsecured Notes are also subject to redemption requirements under state and local gaming laws and regulations. If Everi experiences specified changes of control, the Company may be required to offer to purchase the 2021 Unsecured Notes at 101% of their aggregate principal amount, plus accrued and unpaid interest, if any, to the date of purchase.

The Indenture contains customary covenants restricting the Company’s ability and the ability of its restricted subsidiaries to, among other things: (i) incur additional indebtedness or issue certain preferred stock; (ii) pay dividends or repurchase or redeem capital stock or make other restricted payments; (iii) limit dividends or other payments by the Company’s restricted subsidiaries to the Company or the Company’s other restricted subsidiaries; (iv) incur certain liens; (v) enter into transactions with affiliates; (vi) become an investment company; (vii) consolidate or merge with or into certain other companies; and (viii) designate certain of the Company’s subsidiaries as unrestricted subsidiaries under the Indenture. These covenants are subject to a number of important limitations and exceptions, including certain provisions permitting the Company, subject to the satisfaction of certain conditions, to transfer assets to certain of the Company’s unrestricted subsidiaries. The Indenture also contains customary events of default. Upon an event of default under the Indenture, the Trustee or the holders of at least 30% in aggregate principal amount of the 2021 Unsecured Notes then outstanding may declare all amounts owing under the 2021 Unsecured Notes to be due and payable.

Refinancing and Repayment

The proceeds from the New Term Loan incurred on the Closing Date, together with the proceeds of the $400 million in aggregate principal amount of the Company’s 2021 Unsecured Notes, issued at a price of par on July 15, 2021, and cash on hand were used to: (i) prepay in full and terminate all commitments under the Everi Payments Inc. (“Everi Payments”) existing credit facility in the aggregate original principal amount of $820 million with an outstanding balance of approximately $735.5 million with Jefferies Finance LLC, as administrative agent, collateral agent, swing line lender, letter of credit issuer, sole lead arranger and sole book manager (the “Prior Term Loan”); (ii) redeem in full the Everi Payments 7.50% senior unsecured notes due in 2025 (the “2017 Unsecured Notes”) in the aggregate original principal amount of $375.0 million with an outstanding balance of approximately $285.4 million with Everi Payments, the Company and Deutsche Bank Trust Company Americas, as Trustee; (iii) prepay in full and terminate all commitments under the Everi Payments existing incremental term loan facility (the “Prior Incremental Term Loan”) in the aggregate original principal amount of $125 million with an outstanding balance of approximately $123.8 million with the lenders party thereto and Jefferies Finance LLC, as administrative agent and collateral agent; and (iv) pay related transaction fees and expenses with respect to the aforementioned debt instruments.

During the year ended December 31, 2021, in connection with these refinancing and repayment activities, the total fees were approximately $40.6 million, comprised of approximately $20.8 million of early redemption penalties and make-whole interest associated with the prior debt instruments and approximately $19.8 million of capitalized debt issuance costs attributable to the new debt instruments.

During the year ended December 31, 2021, in connection with these refinancing and repayment activities, we recorded a loss on extinguishment of debt of approximately $34.4 million, comprised of cash charges of approximately $20.8 million for prepayment penalties and make-whole interest and non-cash charges of approximately $13.6 million related to the write-off of unamortized debt issuance costs and discounts associated with the Prior Term Loan, the Prior Incremental Term Loan and the 2017 Unsecured Notes.

For the period from January 1, 2021 to the Closing Date, the Prior Term Loan and the Prior Incremental Term Loan each had a weighted average interest rate of 3.54% and 11.50%, respectively. Together, the two facilities had a blended weighted average interest rate of 4.69% for the twelve months ended December 31, 2021.

Compliance with Debt Covenants

We were in compliance with the covenants and terms of the New Credit Facilities and the 2021 Unsecured Notes as of December 31, 2021.

Principal Repayments

The maturities of our borrowings at December 31, 2021 are as follows (in thousands):


	Amount
Maturities of borrowings
2022	$	6,000
2023	6,000
2024	6,000
2025	6,000
2026	6,000
Thereafter	968,500
Total	$	998,500

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES We are involved in various legal proceedings in the ordinary course of our business. While we believe resolution of the claims brought against us, both individually and in the aggregate, will not have a material adverse impact on our financial condition or results of operations, litigation of this nature is inherently unpredictable. Our views on these legal proceedings, including those described below, may change in the future. We intend to vigorously defend against these actions, and ultimately believe we should prevail. Legal Contingencies We evaluate matters and record an accrual for legal contingencies when it is both probable that a liability has been incurred and the amount or range of the loss may be reasonably estimated. We evaluate legal contingencies at least quarterly and, as appropriate, establish new accruals or adjust existing accruals to reflect: (i) the facts and circumstances known to us at the time, including information regarding negotiations, settlements, rulings, and other relevant events and developments; (ii) the advice and analyses of counsel; and (iii) the assumptions and judgment of management. Legal costs associated with such proceedings are expensed as incurred. Due to the inherent uncertainty of legal proceedings as a result of the procedural, factual, and legal issues involved, the outcomes of our legal contingencies could result in losses in excess of amounts we have accrued. We accrued approximately $14.0 million for legal contingencies in December 2019 in connection with Fair and Accurate Credit Transactions Act (“FACTA”)-related matters based on then-ongoing settlement negotiations by and among various plaintiffs and Everi by and on behalf of itself and Everi FinTech. We recovered approximately $7.7 million of the amount accrued from certain of our insurance providers in 2021, for which we had recorded an insurance settlement receivable included within trade and other receivables, net on our Balance Sheets as of December 31, 2020 and 2019. In addition, we were granted relief from Peleus Insurance Company pursuant to the provisions of our policy. In the first quarter of 2021, we entered into a settlement agreement and received funds from our third-tier insurance carrier in the amount of approximately $1.9 million related to the FACTA matters. We recorded these proceeds against our operating expenses in our Statements of Operations during the year ended December 31, 2021. In total, the receivables have been received in full and the expenses accrued have been paid in full, which resulted in total funds received from our insurance providers of approximately $9.6 million and a net charge of approximately $4.4 million to our Statements of Operations, of which approximately $6.3 million was recorded in December 2019, offset by the reduction of operating expenses of $1.9 million recorded in the first quarter of 2021. We did not have any new material legal matters that were accrued as of December 31, 2021. FACTA-related matter: Geraldine Donahue, et al. v. Everi Payments Inc., et al. (“Donahue”) is a putative class action matter filed on December 12, 2018, in the Circuit Court of Cook County, Illinois County Division, Chancery Division. The original defendant was dismissed and Everi Holdings and FinTech were substituted as the defendants on April 22, 2019. Plaintiff, on behalf of himself and others similarly situated, alleges that Everi Holdings and Everi FinTech (i) have violated certain provisions of FACTA by their failure, as agent to the original defendant, to properly truncate patron credit card numbers when printing financial access receipts as required under FACTA, and (ii) have been unjustly enriched through the charging of service fees for transactions conducted at the original defendant’s facilities. Plaintiff sought an award of statutory damages, attorneys’ fees, and costs. The parties settled this matter on a nationwide class basis. On December 3, 2020, the court entered the Final Order and Judgment approving the settlement and dismissing all claims asserted against defendants with prejudice. Everi Holdings and Everi FinTech have paid all funds required pursuant to the settlement. Distributions were made to class members and remaining unclaimed funds will be distributed to nonprofit charitable organizations in compliance with the court’s October 4, 2021, approval. When the distribution of unclaimed funds to charitable organizations is complete, the parties will file a joint notice of completion of all settlement terms and ask the court to close the file. NRT matter: NRT Technology Corp., et al. v. Everi Holdings Inc., et al. is a civil action filed on April 30, 2019 against Everi Holdings and Everi FinTech in the United States District Court for the District of Delaware by NRT Technology Corp. and NRT Technology, Inc., alleging monopolization of the market for unmanned, integrated kiosks in violation of federal antitrust laws, fraudulent procurement of patents on functionality related to such unmanned, integrated kiosks and sham litigation related to prior litigation brought by Everi FinTech (operating as Global Cash Access Inc.) against the plaintiff entities. The plaintiffs are seeking compensatory damages, treble damages, and injunctive and declaratory relief. This case is currently proceeding through the discovery process. We are currently unable to determine the probability of the outcome or estimate the range of reasonably possible loss, if any, in this matter. Zenergy Systems, LLC matter: Zenergy Systems, LLC v. Everi Payments Inc. is a civil action filed on May 29, 2020, against Everi FinTech in the United States District Court for the District of Nevada, Clark County by Zenergy Systems, LLC, alleging breach of contract, breach of a non-disclosure agreement, conversion, breach of the covenant of good faith and fair dealing, and breach of a confidential relationship related to a contract with Everi FinTech that expired in November 2019. The plaintiff is seeking compensatory and punitive damages. Everi FinTech has counterclaimed against Zenergy alleging breach of contract, breach of implied covenant of good faith and fair dealing, and for declaratory relief. The case is set for trial in June 2022. We are currently unable to determine the probability of the outcome or estimate the range of reasonably possible loss, if any, in this matter. Sadie Saavedra matter: Sadie Saavedra, et al. v. Everi Payments Inc., et al. is a civil action filed on August 30, 2021, against Everi Holdings and Everi FinTech in the United States District Court, Central District of California (Western Division) by Sadie Saavedra, individually and on behalf of a class of similarly situated individuals, alleging violations of the Unfair Competition Law (California Business & Professions Code § 17200) and unjust enrichment. The plaintiffs allege that certain of Everi’s ATM screens are deceptive and designed to maximize the number of transaction fees and mislead consumers into incurring fees for transactions they did not wish to conduct. The plaintiffs are seeking restitution, injunctive relief and attorneys’ fees. We are in the early stages of litigation and currently unable to determine the probability of the outcome or estimate the range of reasonably possible loss, if any, in this matter. Sightline Payments matter: Sightline Payments LLC v. Everi Holdings Inc., et al. is a civil action filed on September 30, 2021, against Everi Holdings, Everi FinTech, Everi Games Holding Inc., and Everi Games in the United States District Court, Western District of Texas (Waco Division) by Sightline Payments LLC alleging patent infringement in violation of 35 U.S.C. § 271 et seq. The plaintiff’s complaint alleges that Everi’s CashClub Wallet product infringes on certain patents owned by the plaintiff. The plaintiff is seeking compensatory damages. Everi filed a Motion to Dismiss or Transfer for Lack of Venue. The court has not yet set a hearing date for the pending motion. We are in the early stages of litigation and currently unable to determine the probability of the outcome or estimate the range of reasonably possible loss, if any, in this matter. In addition, we have commitments with respect to certain lease obligations discussed in “Note 3 — Leases” and installment payments under our asset purchase agreements discussed in “Note 4 — Business Combinations.”

SHAREHOLDERS' EQUITY	12 Months Ended
SHAREHOLDERS' EQUITY	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS’ EQUITY On February 28, 2020, our Board of Directors authorized and approved a new share repurchase program granting us the authority to repurchase an amount not to exceed $10.0 million of outstanding Company common stock with no minimum number of shares that the Company is required to repurchase. This new repurchase program commenced in the first quarter of 2020 and authorizes us to buy our common stock from time to time in open market transactions, block trades or in private transactions in accordance with trading plans established in accordance with Rules 10b5-1 and 10b-18 of the Securities Exchange Act of 1934, as amended, or by a combination of such methods, including compliance with the Company’s finance agreements. The share repurchase program is subject to available liquidity, general market and economic conditions, alternate uses for the capital and other factors, and may be suspended or discontinued at any time without prior notice. In light of COVID-19, we have suspended our share repurchase program. There were no share repurchases during the year ended December 31, 2021. Preferred Stock. Our amended and restated certificate of incorporation, as amended, allows our Board of Directors, without further action by stockholders, to issue up to 50,000,000 shares of preferred stock in one or more series and to fix the designations, powers, preferences, privileges and relative participating, optional, or special rights as well as the qualifications, limitations or restrictions of the preferred stock, including dividend rights, conversion rights, voting rights, terms of redemption and liquidation preferences. As of December 31, 2021 and 2020, we had no shares of preferred stock outstanding. Common Stock. Subject to the preferences that may apply to shares of preferred stock that may be outstanding at the time, the holders of outstanding shares of common stock are entitled to receive dividends out of assets legally available at the times and in the amounts as our Board of Directors may from time to time determine. All dividends are non-cumulative. In the event of the liquidation, dissolution or winding up of Everi, the holders of common stock are entitled to share ratably in all assets remaining after the payment of liabilities, subject to the prior distribution rights of preferred stock, if any, then outstanding. Each stockholder is entitled to one vote for each share of common stock held on all matters submitted to a vote of stockholders. Cumulative voting for the election of directors is not provided for. The common stock is not entitled to preemptive rights and is not subject to conversion or redemption. There are no sinking fund provisions applicable to the common stock. Each outstanding share of common stock is fully paid and non-assessable. As of December 31, 2021 and 2020, we had 116,996,348 and 111,872,439 shares of common stock issued, respectively. Treasury Stock. Employees may direct us to withhold vested shares of restricted stock to satisfy the maximum statutory withholding requirements applicable to their restricted stock vesting. We repurchased or withheld from restricted stock awards 493,662 and 193,809 shares of common stock at an aggregate purchase price of approximately $9.4 million and $1.3 million for the years ended December 31, 2021 and 2020, respectively, to satisfy the maximum applicable tax withholding obligations related to the vesting of such restricted stock awards. Issuance of Common Stock. In December 2019, we issued and sold 11,500,000 shares of our common stock and used the aggregate net proceeds of approximately $122.4 million to pay down a portion of the Term Loan Facility and to redeem a portion of the 2017 Unsecured Notes.

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

WEIGHTED AVERAGE SHARES OF COMMON STOCK

WEIGHTED AVERAGE SHARES OF COMMON STOCK

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

The weighted average number of common stock outstanding used in the computation of basic and diluted earnings per share is as follows (in thousands):


	At December 31,
	2021	2020	2019
Weighted average shares
Weighted average number of common shares outstanding — basic	89,284	85,379	72,376
Potential dilution from equity awards (1)	10,683	—	6,859
Weighted average number of common shares outstanding — diluted (1)	99,967	85,379	79,235

(1) There were no shares that were anti-dilutive under the treasury stock method for the year ended December 31, 2021. The Company was in a net loss position for the year ended December 31, 2020; therefore, no potential dilution from the application of the treasury stock method was applicable. The potential dilution excludes the weighted average effect of equity awards to purchase approximately 3.3 million and 0.5 million shares of common stock for the years ended December 31, 2020, and 2019 as the application of the treasury stock method, as required, makes them anti-dilutive.

SHARE-BASED COMPENSATION

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

SHARE-BASED COMPENSATION

Equity Incentive Awards

Our 2014 Equity Incentive Plan (as amended and restated effective May 19, 2021, the “Amended and Restated 2014 Plan”) and our 2012 Equity Incentive Plan (as amended, the “2012 Plan”) are used to attract and retain key personnel, to provide additional incentives to employees, directors, and consultants, and to promote the success of our business. Our equity incentive plans are administered by the Compensation Committee of our Board of Directors, which has the authority to select individuals who are to receive equity incentive awards and to specify the terms and conditions of grants of such awards, including, but not limited to the vesting provisions and exercise prices, as applicable.

Generally, we grant the following types of awards: (i) restricted stock units with either time- or performance-based criteria; (ii) time-based options; and (iii) market-based options. We estimate forfeiture amounts based on historical patterns.

A summary of award activity is as follows (in thousands):


	Stock Options Granted	Restricted Stock Units Granted
Outstanding, December 31, 2020	10,261	4,250
Granted	—	968
Exercised options or vested shares	(3,180)	(1,566)
Canceled or forfeited	(8)	(112)
Outstanding, December 31, 2021	7,073	3,540

There are approximately 5.1 million awards of our common stock available for future equity grants under our existing equity incentive plans.

Stock Options

Our time-based stock options granted under our equity plans generally vest at a rate of 25% per year on each of the first four anniversaries of the grant dates, and expire after a ten-year period.

Our market-based options granted in 2017 under our 2014 Plan and 2012 Plan vest at a rate of 25% per year on each of the first four anniversaries of the grant date, provided that as of the vesting date for each vesting tranche, the closing price of the Company’s shares on the New York Stock Exchange is at least a specified price hurdle, defined as a 25% premium for 2017 to the closing stock price on the grant date. If the price hurdle is not met as of the vesting date for a vesting tranche, the vested tranche shall vest and become vested shares on the last day of a period of 30 consecutive trading days during which the closing price is at least the price hurdle. These options expire after a ten-year period.

The following table presents the options activity:


	Number of Options (in thousands)	Weighted Average Exercise Price (per Share)		Weighted Average Life Remaining (Years)	Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2020	10,261	$	5.18	4.4	$	88,550
Granted	—
Exercised	(3,180)	5.74
Canceled or forfeited	(8)	5.21
Outstanding, December 31, 2021	7,073	4.93		3.8	116,155
Vested and expected to vest after, December 31, 2021	7,073	4.93		3.8	116,148
Exercisable, December 31, 2021	7,068	$	4.93	3.8	$	116,088

The following table presents the options outstanding and exercisable by price range:


				Options Outstanding				Options Exercisable
				Number Outstanding	Weighted Average Remaining Contract Life	Weighted Average Exercise		Number Exercisable	Weighted Average Exercise
Range of Exercise Prices				(in thousands)	(Years)	Prices		(in thousands)	Price
$	1.46	$	1.46	1,095	4.4	$	1.46	1,095	$	1.46
1.57		2.78		820	4.3	2.54		820	2.54
3.29		3.29		2,092	5.2	3.29		2,092	3.29
5.58		7.09		824	2.3	6.68		824	6.68
7.10		7.61		245	1.4	7.45		245	7.45
7.74		7.74		694	3.3	7.74		694	7.74
7.88		7.88		20	6.6	7.88		15	7.88
8.32		8.32		25	5.8	8.32		25	8.32
8.92		8.92		1,250	2.1	8.92		1,250	8.92
9.74		9.74		8	2.0	9.74		8	9.74
				7,073				7,068

There were no time-based or market-based option awards granted during the years ended December 31, 2021, 2020, and 2019. The total intrinsic value of options exercised was $46.5 million, $6.7 million, and $9.1 million for the years ended December 31, 2021, 2020, and 2019, respectively.

The unrecognized compensation expense related to options expected to vest as of December 31, 2021 was not material. We received approximately $18.2 million in cash proceeds from the exercise of options during 2021.

There was approximately $0.3 million and $1.4 million in unrecognized compensation expense related to options expected to vest as of December 31, 2020 and 2019, respectively. This cost was expected to be recognized on a straight-line basis over a weighted average period of 0.2 years and 1.0 year for the years ended December 31, 2020 and 2019, respectively. We recorded approximately $1.4 million and $2.4 million in non-cash compensation expense related to options granted that were expected to vest as of December 31, 2020 and 2019, respectively. We received approximately $6.2 million and $15.7 million in cash proceeds from the exercise of options during 2020 and 2019, respectively.

Restricted Stock Units

The fair value of our restricted stock units awarded is based on the closing stock price of our common stock at the date of grant.

Time-based Awards

The time-based restricted stock units (“RSUs”) granted to executives and the employee base, during 2021, 2020 and 2019, vest at a rate of either 33% per year on each of the first three anniversaries of the dates of grant, or 100% on the anniversary of grant date ending after either 1 year or 2 years.

The RSUs granted to independent members of our Board of Directors, during 2021, 2020 and 2019, vest on either the one-year or three-year anniversary of the date of grant and settle on the earliest of the following events: (i) ten-year anniversary of the date of grant; (ii) death; (iii) the occurrence of a Change in Control (as defined in the Amended and Restated 2014 Plan), subject to qualifying conditions; or (iv) the date that is six months following the separation from service, subject to qualifying conditions.

Performance-based Awards

The performance-based restricted stock units (“PSUs”) granted during 2021 will be evaluated by the Compensation Committee of our Board of Directors after a performance period, beginning on the date of grant through December 31, 2023, based on certain revenue and free cash flow growth rate metrics, with achievement of each measure to be determined independently of one another. To the extent the performance criteria of the metrics are approved, the eligible awards will become vested on the third anniversary of the date of grant.

The PSUs granted during 2020 will be evaluated by the Compensation Committee of our Board of Directors after a performance period, beginning on the date of grant through December 31, 2022, based on total revenue and certain revenue growth rate metrics. If the performance criteria of the metrics are approved, the eligible awards will become vested on the third anniversary of the grant dates.

The PSUs granted during 2019 will be evaluated by the Compensation Committee of our Board of Directors after a performance period, beginning on the date of grant through December 31, 2021, based on certain revenue and free cash flow growth rate metrics, with achievement of each measure to be determined independently of one another. If the performance criteria of the metrics are approved, the eligible awards will become vested on the third anniversary of the grant dates.

The following table presents our restricted stock unit awards activity:


	Shares Outstanding (in thousands)	Weighted Average Grant Date Fair Value (per Share)		Weighted Average Life Remaining (Years)	Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2020	4,250	$	7.75	1.2	$	58,680
Granted	968	17.70
Vested	(1,566)	7.60
Forfeited	(112)	9.53
Outstanding, December 31, 2021	3,540	10.49		1.0	75,532
Vested and expected to vest after, December 31, 2021	3,087	$	10.69	1.0	$	65,907

There were approximately 1.0 million shares of these awards granted during the year ended December 31, 2021. There were approximately 1.6 million awards that vested during the year ended December 31, 2021. There was approximately $23.3 million in unrecognized compensation expense related to these awards expected to vest as of December 31, 2021. This cost is expected to be recognized on a straight-line basis over a weighted average period of 1.4 years. We recorded approximately $20.6 million in non-cash compensation expense related to these awards for the year ended December 31, 2021.

There were approximately 2.2 million and 2.0 million shares of these awards granted for the years ended December 31, 2020 and 2019, respectively. The weighted average grant date fair value per share of these awards granted was $6.08 and $10.16 for the years ended December 31, 2020 and 2019, respectively. There were 0.9 million and 0.3 million RSU awards that vested during the years ended December 31, 2020 and 2019, respectively. There was approximately $15.3 million and $14.1 million unrecognized compensation expense related to these awards expected to vest as of December 31, 2020 and 2019, respectively. This cost was expected to be recognized on a straight-line basis over a weighted average period of 1.8 years and 2.5 years, respectively. We recorded approximately $11.6 million and $5.7 million in non-cash compensation expense related to RSU awards for the years ended December 31, 2020 and 2019, respectively .

In February 2020, the Compensation Committee of our Board of Directors authorized an award of RSUs to be granted to key members of management during the quarter ending March 31, 2020 based on the results of operations for the year ended December 31, 2019. The award met the definition of a liability-classified award with 2019 being the service period. As a result, the Company recorded compensation cost and corresponding share-based liability of approximately $1.7 million representing the fair value of the award at December 31, 2019 measured using the same valuation technique as for our equity-classified awards. The award was expected to be fully vested six months from the grant date and expected to be settled in shares of common stock.

INCOME TAXES

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

INCOME TAXES

(Benefit) Provision for Income Taxes

The following presents consolidated income (loss) before tax for domestic and foreign operations (in thousands):


	Year Ended December 31,
	2021		2020		2019
Consolidated income (loss) before tax
Domestic	$	100,232	$	(87,832)	$	11,709
Foreign	793		396		4,285
Total	$	101,025	$	(87,436)	$	15,994

The income tax (benefit) provision attributable to the (loss) income from operations before tax consists of the following components (in thousands):


	Year Ended December 31,
	2021		2020		2019
Income tax (benefit) provision
Domestic	$	(51,923)	$	(5,711)	$	(1,238)
Foreign	23		(45)		715
Total income tax benefit	$	(51,900)	$	(5,756)	$	(523)
Income tax (benefit) provision
Current	$	177	$	823	$	1,071
Deferred	(52,077)		(6,579)		(1,594)
Total income tax benefit	$	(51,900)	$	(5,756)	$	(523)

Effective Tax Rate

A reconciliation of the federal statutory rate and the effective income tax rate is as follows:


	Year Ended December 31,
	2021		2020		2019
Income tax reconciliation
Federal statutory rate	21.0	%	21.0	%	21.0	%
Foreign provision	—	%	(0.2)	%	2.5	%
State/province income tax	3.5	%	4.2	%	(1.6)	%
Non-deductible compensation cost	(8.1)	%	0.5	%	(5.3)	%
Adjustments to carrying values	1.7	%	0.2	%	6.8	%
Research and development credit	(2.3)	%	1.0	%	(18.8)	%
Valuation allowance(1)	(67.2)	%	(19.7)	%	(11.9)	%
Global intangible low-taxed income(2)	0.1	%	—	%	2.7	%
Non-deductible expenses - other	0.1	%	(0.1)	%	1.2	%
Other	(0.2)	%	(0.3)	%	0.1	%
Effective tax rate	(51.4)	%	6.6	%	(3.3)	%

(1) We removed the full valuation allowance in the federal and certain state jurisdictions in the fourth quarter of 2021.

(2) We had no GILTI inclusion in 2020 due to the high tax exception in some foreign jurisdictions and losses in others.

Deferred Income Taxes

The major tax-effected components of the deferred tax assets and liabilities are as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Deferred income tax assets related to:
Net operating losses	$	84,619	$	109,872	$	97,613
Stock compensation expense	6,210		7,293		6,802
Accounts receivable allowances	1,275		912		1,415
Accrued and prepaid expenses	11,284		8,977		7,869
Other	913		2,098		1,880
Tax credits	14,688		12,377		12,116
Interest limitation	—		—		3,738
Valuation allowance	(804)		(68,746)		(51,522)
Total deferred income tax assets	$	118,185	$	72,783	$	79,911
Deferred income tax liabilities related to:
Property and equipment	$	23,610	$	18,699	$	23,012
Other intangible assets	59,156		67,996		76,279
Long-term debt	7		1,482		2,680
Other	3,291		4,562		4,341
Total deferred income tax liabilities	$	86,064	$	92,739	$	106,312
Deferred income taxes, net	$	32,121	$	(19,956)	$	(26,401)

Net Operating Losses (“NOLs”)

We had approximately $361.0 million, or $75.8 million, tax effected, of accumulated federal NOLs as of December 31, 2021, which may be carried forward and applied to offset taxable income for 20 years and will expire starting in 2032 (for losses incurred prior to 2018). NOLs incurred after 2017 of approximately $94.8 million, or $19.9 million, tax effected, are carried forward indefinitely to offset taxable income. We had approximately $14.7 million, tax effected, of federal research and development credit carry-forwards as of December 31, 2021. The research and development credits are limited to a 20 year carry-forward period and will expire starting in 2029.

We had tax effected state NOL carry-forwards of approximately $8.8 million as of December 31, 2021, which will expire between 2022 and 2041. The determination and utilization of these state NOL carry-forwards are dependent upon apportionment percentages and other respective state laws, which may change from year to year. As of December 31, 2021, approximately $0.7 million of our valuation allowance relates to certain state NOL carry-forwards that we estimate are not more likely than not to be realized.

Deferred Tax Assets - Valuation Allowance Assessment

Deferred tax assets arise primarily because expenses have been recorded in historical financial statement periods that will not become deductible for income taxes until future tax years. We record a valuation allowance to reduce the book value of our deferred tax assets to amounts that are estimated on a more likely than not basis to be realized. This assessment requires judgment and is performed on the basis of the weight of all available evidence, both positive and negative, with greater weight placed on information that is objectively verifiable such as historical performance.

Based on an evaluation of the then-available positive and negative evidence, we determined it was appropriate to establish a full valuation allowance on our federal and states deferred tax assets as of December 31, 2016. At that time, and in subsequent quarters, negative evidence, including three years of cumulative losses, outweighed the positive evidence. However, as of December 31, 2021, our U.S. operations emerged from a three-year cumulative loss position. Our U.S. federal and states operating businesses had deferred tax asset valuation allowances of approximately $68.7 million as of December 31, 2020. Based on our most recent analysis as of December 31, 2021, we removed the full valuation allowance in the federal and certain state jurisdictions, contributing to a $67.9 million reduction in our valuation allowance in 2021. The significant positive

evidence in our analysis included: improvements in profitability, product mix, capital levels, credit metrics, a stabilizing economy and future longer-term forecasts showing sustained profitability. We believe the positive evidence now outweighs the negative evidence as of December 31, 2021 and it is more likely than not that these deferred tax assets will be realized.

The following is a tabular reconciliation of the total amounts of deferred tax asset valuation allowance (in thousands):


	Year Ended December 31,
	2021		2020		2019
Balance at beginning of period	$	68,746	$	51,522	$	53,156
Valuation allowance - (reversal) charge	(67,942)		17,224		(1,634)

Balance at end of period	$	804	$	68,746	$	51,522

Unrecognized Tax Positions

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits (in thousands):


	Year Ended December 31,
	2021		2020		2019
Unrecognized tax benefit
Unrecognized tax benefit at the beginning of the period	$	1,714	$	1,435	$	1,062
Gross increases — tax positions in prior period	437		279		373
Unrecognized tax benefit at the end of the period	$	2,151	$	1,714	$	1,435

We analyzed filing positions in the federal, state, and foreign jurisdictions in which we are required to file income tax returns, as well as the open tax years in these jurisdictions. As of December 31, 2021, we recorded approximately $2.2 million of unrecognized tax benefits, all of which would impact our effective tax rate, if recognized. We do not anticipate that our unrecognized tax benefits will materially change within the next 12 months. The Company has not accrued any penalties and interest for its unrecognized tax benefits. Other than the unrecognized tax benefit recorded, we believe that our income tax filing positions and deductions will be sustained upon audit, and we do not anticipate other adjustments that will result in a material change to our financial position. We may, from time to time, be assessed interest or penalties by tax jurisdictions, although any such assessments historically have been minimal and immaterial to our financial results. Our policy for recording interest and penalties associated with audits and unrecognized tax benefits is to record such items as a component of income tax in our Statements of Operations.

Foreign Operations

We had unrepatriated foreign earnings of approximately $14.4 million as of December 31, 2021. These earnings are considered permanently reinvested, as it is management’s intention to reinvest these foreign earnings in foreign operations. We project sufficient cash flow, or borrowings available under our Senior Secured Credit Facilities in the U.S.; therefore, we do not need to repatriate our remaining foreign earnings to finance U.S. operations at this time. Due to the 2017 Tax Act, there is no U.S. federal tax on cash repatriation from foreign subsidiaries, however, it could be subject to foreign withholding and other taxes.

COVID-19 Relief

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted and signed into law. The CARES Act contains numerous tax provisions including changes to the limitation on interest deductions for 2019 and 2020. The CARES Act significantly increases the allowable interest expense deduction of the Company and results in significantly larger taxable loss for the years ended 2019 and 2020. As a result of the CARES Act, the Company fully utilized all interest expense that was deferred beginning in 2018 with no additional disallowed interest expense in 2020.

Other

We are subject to taxation in the U.S. and various states and foreign jurisdictions. We have a number of federal and state income tax years still open for examination as a result of our net operating loss carry-forwards. Accordingly, we are subject to examination for both U.S. federal and some of the state tax returns for the years 2005 to present. For the remaining state, local, and foreign jurisdictions, with some exceptions, we are no longer subject to examination by tax authorities for years before 2018.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

SEGMENT INFORMATION

Operating segments are components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision-making group (the “CODM”). Our CODM consists of the Chief Executive Officer, the President and Chief Operating Officer, and the Chief Financial Officer. Our CODM allocates resources and measures profitability based on our operating segments, which are managed and reviewed separately, as each represents products and services that can be sold separately to our customers. Our segments are monitored by management for performance against our internal forecasts.

We have reported our financial performance based on our segments in both the current and prior periods. Our CODM determined that our operating segments for conducting business are: (i) Games and (ii) FinTech:

•Everi Games primarily provides gaming operators with gaming technology products and services, including: (i) gaming machines, primarily comprising Class II and Class III slot machines placed under participation or fixed-fee lease arrangements or sold to casino customers; (ii) provision and maintenance of the central determinant systems for the VLTs installed in the State of New York and similar technology in certain tribal jurisdictions; and (iii) B2B digital online gaming activities.

•Everi FinTech provides gaming operators with financial technology and entertainment products and services, including: (i) financial access and related services supporting digital, cashless and physical cash options across mobile, assisted and self-service channels; (ii) loyalty and marketing software and tools, RegTech software solutions, other information-related products and services, and hardware maintenance services; and (iii) associated casino patron self-service hardware that utilizes our financial access, software and other services.

Corporate overhead expenses have been allocated to the segments either through specific identification or based on a reasonable methodology. In addition, we record depreciation and amortization expenses to the business segments.

Our business is predominantly domestic with no specific regional concentrations and no significant assets in foreign locations.

The following tables present segment information (in thousands):


	For the Year Ended December 31,
	2021		2020		2019
Games
Revenue
Gaming operations	$	272,767	$	156,199	$	188,874
Gaming equipment and systems	103,844		44,006		90,919
Gaming other	118		96		3,326
Total revenues	376,729		200,301		283,119
Costs and expenses
Cost of revenues (1)
Gaming operations	21,663		15,192		18,043
Gaming equipment and systems	60,093		25,680		50,826
Gaming other	—		456		3,025
Cost of revenues	81,756		41,328		71,894
Operating expenses	70,150		63,789		61,522
Research and development	26,060		20,060		24,954
Depreciation	53,876		61,566		56,882
Amortization	42,866		59,926		57,491
Total costs and expenses	274,708		246,669		272,743
Operating income (loss)	$	102,021	$	(46,368)	$	10,376

(1) Exclusive of depreciation and amortization.


	For the Year Ended December 31,
	2021		2020		2019
FinTech
Revenues
Financial access services	$	178,019	$	112,035	$	164,741
Software and other	67,797		47,041		47,502
Hardware	37,840		24,297		37,865
Total revenues	283,656		183,373		250,108
Costs and expenses
Cost of revenues (1)
Financial access services	6,779		6,755		14,236
Software and other	4,129		3,029		3,964
Hardware	22,785		14,724		22,292
Cost of revenues	33,693		24,508		40,492
Operating expenses	118,750		88,757		100,662
Research and development	12,991		7,883		7,551
Depreciation	7,611		5,893		6,316
Amortization	15,121		15,379		11,446
Total costs and expenses	188,166		142,420		166,467
Operating income	$	95,490	$	40,953	$	83,641

(1) Exclusive of depreciation and amortization.


	For the Year Ended December 31,
	2021		2020		2019
Total Games and FinTech
Total revenues	$	660,385	$	383,674	$	533,227
Costs and expenses
Cost of revenues (1)	115,449		65,836		112,386
Operating expenses	188,900		152,546		162,184
Research and development	39,051		27,943		32,505
Depreciation	61,487		67,459		63,198
Amortization	57,987		75,305		68,937
Total costs and expenses	462,874		389,089		439,210
Operating income (loss)	$	197,511	$	(5,415)	$	94,017

(1) Exclusive of depreciation and amortization.


	At December 31,
	2021		2020
Total assets
Games	$	913,880	$	811,523
FinTech	721,770		665,656
Total assets	$	1,635,650	$	1,477,179

For the year ended December 31, 2021, cash spent for capital expenditures totaled $104.7 million, of which $81.7 million and $23.0 million was related to our Games and FinTech businesses, respectively. For the year ended December 31, 2020, cash spent for capital expenditures totaled $76.4 million, of which $62.6 million and $13.8 million, was related to our Games and FinTech businesses, respectively.

Major customers. For the years ended December 31, 2021, 2020, and 2019, no single customer accounted for more than 10% of our revenues. Our five largest customers accounted for approximately 16%, 16%, and 14% of our total revenue in 2021, 2020, and 2019, respectively.

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Principles of Consolidation

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On February 7, 2022, Everi Holdings Inc. (the “Company”) announced that it has entered into an agreement to acquire the stock of ecash Holdings Pty Limited and wholly-owned subsidiaries, Global Payment Technologies Australia Pty Limited, and ACN 121 187 068 Pty Limited (collectively “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 United States. The anticipated acquisition of ecash’s products and services 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 United States, and other geographies. The closing of the transaction, subject to customary conditions, is expected to occur within 60 days. Under the terms of the stock purchase agreement, the Company will make 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 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 to AUD$43 million. Everi expects to fund the total purchase price from existing cash on hand and future cash flow.

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

The consolidated financial statements are prepared under U.S. Generally Accepted Accounting Principles (GAAP) and include the accounts of the Company and its subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.

Business Combinations

When we acquire a business, we recognize the assets acquired and the liabilities assumed, at their acquisition date fair values. Goodwill is measured and recognized as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. Significant estimates and assumptions are required to value assets acquired and liabilities assumed at the acquisition date as well as contingent consideration, where applicable. These estimates are preliminary and typically include the calculation of an appropriate discount rate and projection of the cash flows associated with each acquired asset over its estimated useful life. As a result, up to one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill (referred to as the measurement period). In addition, deferred tax assets, deferred tax liabilities, uncertain tax positions, and tax related valuation allowances assumed in connection with a business combination are initially estimated as of the acquisition date. We reevaluate these items quarterly based upon facts and circumstances that existed as of the acquisition date and any adjustments to preliminary estimates are recorded to goodwill, in the period of identification, if identified within the measurement period. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Statements of Operations.

Cash and Cash Equivalents

Cash and cash equivalents include cash and balances on deposit in banks and financial institutions. We consider highly liquid investments with maturities of three months or less at the time of purchase to be cash and cash equivalents. Such balances generally exceed the federal insurance limits; however, we periodically evaluate the creditworthiness of these institutions to minimize risk.

ATM Funding Agreements

We obtain all of the cash required to operate our ATMs through various ATM Funding Agreements. Some gaming establishments provide the cash utilized within the ATM (“Site-Funded”). The Site-Funded receivables generated for the amount of cash dispensed from transactions performed at our ATMs are owned by us and we are liable to the gaming establishment for the face amount of the cash dispensed. In our Balance Sheets, the amount of the receivable for transactions processed on these funds dispensed transactions is included within settlement receivables and the amount due to the gaming establishment for the face amount of dispensing transactions is included within settlement liabilities.

For the non-Site-Funded locations, we enter into commercial arrangements with third party vendors to provide us the currency needed for normal operating requirements for our ATMs. For the use of these funds, we pay a cash usage fee based upon the target federal funds rate. Under these agreements, the currency supplied by the third-party vendors remains the sole property of these suppliers until funds are dispensed, at which time the third-party vendors obtain an interest in the corresponding settlement receivable. As the cash is an asset of these suppliers, it is therefore not reflected on our Balance Sheets. The usage fee for the cash supplied in these ATMs is included as interest expense in the Statements of Operations. Our rationale to record cash usage fees as interest expense is primarily due to the similar operational characteristics to a revolving line of credit, the fact that the fees are calculated on a financial index, and the fees are paid for access to a capital resource.

Settlement Receivables and Settlement Liabilities

We provide cash settlement services to gaming establishments related to our financial access services, which involve the movement of funds between various parties involved in these types of transactions. We receive reimbursement from the patron’s credit or debit card issuing financial institution for the amount owed to the gaming establishment plus the fee charged to the patron. These activities result in amounts due to us at the end of each business day that we generally recover over the next few business days, which are classified as settlement receivables on our Balance Sheets. In addition, cash settlement services result in amounts due to gaming establishments for the cash disbursed to patrons through the issuance of a negotiable instrument or through electronic settlement for the face amount provided to patrons that we generally remit over the next few business days, which are classified as settlement liabilities on our Balance Sheets.

Warranty Receivables

If a gaming establishment chooses to have a check warranted, it sends a request to our third-party check warranty service provider, asking whether it would be willing to accept the risk of cashing the check. If the check warranty provider accepts the risk and warrants the check, the gaming establishment negotiates the patron’s check by providing cash for the face amount of the check. If the check is dishonored by the patron’s bank upon presentment, the gaming establishment invokes the warranty, and the check warranty service provider purchases the check from the gaming establishment for the full check amount and then pursues collection activities on its own. In our Central Credit Check Warranty product under our agreement with the third-party service provider, we receive all of the check warranty revenue. We are exposed to risk for the losses associated with any warranted items that cannot be collected from patrons issuing the items.

The warranty receivables amount is recorded in trade and other receivables, net on our Balance Sheets. On a monthly basis, the Company evaluates the collectability of the outstanding balances and establishes a reserve for the face amount of the expected losses on these receivables. The warranty expense associated with this reserve is included within cost of revenues (exclusive of depreciation and amortization) on our Statements of Operations.

Allowance for Credit Losses

We continually evaluate the collectability of outstanding balances and maintain an allowance for credit losses related to our trade and other receivables and notes receivable that have been determined to have a high risk of uncollectability, which represents our best estimates of the current expected credit losses to be incurred in the future. To derive our estimates, we analyze historical collection trends and changes in our customer payment patterns, current and expected conditions and market trends along with our operating forecasts, concentration, and creditworthiness when evaluating the adequacy of our allowance for credit losses. In addition, with respect to our check warranty receivables, we are exposed to risk for the losses associated with warranted items that cannot be collected from patrons issuing these items. We evaluate the collectability of the outstanding balances and establish a reserve for the face amount of the current expected credit losses related to these receivables. Account balances are charged against the provision when the Company believes it is probable the receivable will not be recovered. The provision for doubtful accounts receivable is included within operating expenses and the check warranty loss reserves are included within financial access services cost of revenues in the Statements of Operations.

Inventory

Our inventory primarily consists of component parts as well as finished goods and work-in-progress. The cost of inventory includes cost of materials, labor, overhead and freight. The inventory is stated at the lower of cost or net realizable value and accounted for using the first in, first out method (“FIFO”).

Restricted Cash

Our restricted cash primarily consists of: (i) funds held in connection with certain customer agreements; (ii) deposits held in connection with a sponsorship agreement; (iii) wide-area progressive (“WAP”)-related restricted funds; and (iv) financial access activities related to cashless balances held on behalf of patrons. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Balance Sheets that sum to the total of the same such amounts shown in the statements of cash flows for the years ended December 31, 2021, 2020, and 2019, respectively (in thousands).

Property and Equipment

Property and equipment, which includes assets leased to customers, are stated at cost, less accumulated depreciation, and are computed using the straight-line method over the lesser of the lease term or estimated life of the related assets, generally one to five years. Player terminals and related components and equipment are included in our rental pool. The rental pool can be further delineated as “rental pool – deployed,” which consists of assets deployed at customer sites under participation or fixed fee arrangements, and “rental pool – undeployed,” which consists of assets held by us that are available for customer use. Rental pool – undeployed also consists of previously deployed units currently back with us to be refurbished awaiting re-deployment. Routine maintenance of property, equipment and leased gaming equipment is expensed in the period incurred, while major component upgrades are capitalized and depreciated over the estimated remaining useful life of the component. Sales and retirements of depreciable property are recorded by removing the related cost and accumulated depreciation from the accounts. Gains or losses on sales and retirements of property are reflected in our Statements of Operations. Property, equipment and leased assets are reviewed for impairment whenever events or circumstances indicate that their carrying amounts may not be recoverable. Impairment is indicated when future cash flows, on an undiscounted basis, do not exceed the carrying value of the asset.

Placement Fee and Development Agreements

We enter into placement fee and, to a certain extent, development agreements to provide financing for the expansion of existing facilities, or for new gaming facilities. Funds provided under placement fee agreements are not reimbursed, while funds provided under development agreements are reimbursed to us, in whole, or in part. In return, the facility dedicates a percentage of its floor space to placement of our player terminals, and we receive a fixed percentage of those player terminals’ hold amounts per day over the term of the agreement, which is generally from 12 to 83 months. Certain of the agreements contain player terminal performance standards that could allow the facility to reduce a portion of our guaranteed floor space. In addition, certain development agreements allow the facilities to buy out floor space after advances that are subject to repayment have been repaid. The agreements typically provide for a portion of the amounts retained by the gaming facility for their share of the operating profits of the facility to be used to repay some or all of the advances recorded as notes receivable.

Goodwill

Goodwill represents the excess of the purchase price over the identifiable tangible and intangible assets acquired plus liabilities assumed arising from business combinations. We test for impairment annually on a reporting unit basis, at the beginning of our fourth fiscal quarter and between annual tests if events and circumstances indicate it is more likely than not that the fair value of a reporting unit is less than its carrying amount. The annual impairment test is completed using either: a qualitative “Step 0” assessment based on reviewing relevant events and circumstances; or a quantitative “Step 1” assessment, which determines the fair value of the reporting unit, using both an income approach that discounts future cash flows based on the estimated future results of our reporting units and a market approach that compares market multiples of comparable companies to determine whether or not any impairment exists. To the extent the carrying amount of a reporting unit is less than its estimated fair value, an impairment charge is recorded.

The evaluation of impairment of goodwill requires the use of estimates about future operating results. Changes in forecasted operations can materially affect these estimates, which could materially affect our results of operations and financial condition. The estimates of expected future cash flows require significant judgment and are based on assumptions we determined to be reasonable; however, they are unpredictable and inherently uncertain, including, estimates of future growth rates, operating margins, and assumptions about the overall economic climate as well as the competitive environment within which we operate. There can be no assurance that our estimates and assumptions made for purposes of our impairment assessments as of the time of evaluation will prove to be accurate predictions of the future. If our assumptions regarding business plans, competitive environments or anticipated growth rates are not correct, we may be required to record non-cash impairment charges in future periods, whether in connection with our normal review procedures periodically, or earlier, if an indicator of an impairment is present prior to such evaluation.

Our reporting units are identified as operating segments or one level below. Reporting units must: (i) engage in business activities from which they earn revenues and incur expenses; (ii) have operating results that are regularly reviewed by our segment management to ascertain the resources to be allocated to the segment and assess its performance; and (iii) have discrete financial information available. As of December 31, 2021, our reporting units included: (i) Games; (ii) Financial Access Services; (iii) Kiosk Sales and Services; (iv) Central Credit Services; (v) Compliance Sales and Services; and (vi) Loyalty Sales and Services.

Other Intangible Assets

Other intangible assets are stated at cost, less accumulated amortization, and are computed primarily using the straight-line method. Other intangible assets consist primarily of: (i) customer contracts (rights to provide Games and FinTech services to gaming establishment customers), developed technology, trade names and trademarks, and contract rights acquired through business combinations; and (ii) capitalized software development costs. Customer contracts require us to make renewal assumptions, which impact the estimated useful lives of such assets. Capitalized software development costs require us to make certain judgments as to the stages of development and costs eligible for capitalization. Capitalized software costs placed in service are amortized over their useful lives, generally not to exceed six years. We review intangible assets whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Such events or circumstances include, but are not limited to, a significant decrease in the fair value of the underlying business or market price of the asset, a significant adverse change in legal factors or business climate that could affect the value of an asset, or a current period operating or cash flow loss combined with a history of operating or cash flow losses. We group intangible assets for impairment analysis at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. Recoverability of definite lived intangible assets is measured by a comparison of the carrying amount of the asset to future net cash flows expected to be generated by the asset, on an undiscounted basis and without interest or taxes. Any impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets.

Debt Issuance Costs

Debt issuance costs incurred in connection with long-term borrowings are capitalized and amortized to interest expense based upon the related debt agreements using the straight-line method, which approximates the effective interest method. Debt issuance costs related to line-of-credit arrangements are included in other assets, non-current, on our Balance Sheets. All other debt issuance costs are included as contra-liabilities in long-term debt.

Revenue Recognition

Overview

We evaluate the recognition of revenue based on the criteria set forth in Accounting Standards Codification (“ASC”) 606 — Revenue from Contracts with Customers and ASC 842 — Leases, as appropriate. We recognize revenue upon transferring control of goods or services to our customers in an amount that reflects the consideration we expect to receive in exchange for those goods or services. We enter into contracts with customers that include various performance obligations consisting of goods, services, or combinations of goods and services. Timing of the transfer of control varies based on the nature of the contract. We recognize revenue net of any sales and other taxes collected from customers, which are subsequently remitted to governmental authorities and are not included in revenues or operating expenses. We measure revenue based on the consideration specified in a contract with a customer and adjusted, as necessary.

Collectability

To assess collectability, we determine whether it is probable that we will collect substantially all of the consideration to which we are entitled in exchange for the goods and services transferred to the customer in accordance with the terms and conditions of the contract. In connection with these procedures, we evaluate the customer using internal and external information available, including, but not limited to, research and analysis of our credit history with the customer. Based on the nature of our transactions and historical trends, we determine whether our customers have the ability and intention to pay the amounts of consideration when they become due to identify potentially significant credit risk exposure.

Contract Combinations - Multiple Promised Goods and Services

Our contracts may include various performance obligations for promises to transfer multiple goods and services to a customer, especially since our Games and FinTech businesses may enter into multiple agreements with the same customer that meet the criteria to be combined for accounting purposes under ASC 606. When this occurs, a Stand-Alone Selling Price (“SSP”) will be determined for each performance obligation in the combined arrangement, and the consideration will be allocated between the respective performance obligations. The SSP of our goods and services is generally determined based on observable prices, an adjusted market assessment approach, or an expected cost plus margin approach. We utilize a residual approach only when the SSP for performance obligations with observable prices has been established and the remaining performance obligation in the contract with a customer does not have an observable price as it is uncertain or highly variable and, therefore, is not discernible. We use our judgment to analyze the nature of the promises made and determine whether each is distinct or should be combined with other promises in the contract based on the level of integration and interdependency between the individual deliverables.

Disaggregation of Revenues

We disaggregate revenues based on the nature and timing of the cash flows generated by such revenues as presented in “Note 18 — Segment Information.”

Outbound Freight Costs, Installation and Training

Upon transferring control of goods to a customer, the shipping and handling costs in connection with sale transactions are generally accounted for as fulfillment costs and included in cost of revenues.

Our performance of installation and training services relating to the sales of gaming equipment and systems and FinTech equipment does not modify the software or hardware in those equipment and systems. Such installation and training services are generally immaterial in the context of the contract; and therefore, such items do not represent a separate performance obligation.

Costs to Acquire a Contract with a Customer

We typically incur incremental costs to acquire customer contracts in the form of sales commissions; however, because the expected benefit from these contracts is one year or less, we expense these amounts as incurred.

Contract Balances

Since our contracts may include multiple performance obligations, there is often a timing difference between cash collections and the satisfaction of such performance obligations and revenue recognition. Such arrangements are evaluated to determine whether contract assets and liabilities exist. We generally record contract assets when the timing of billing differs from when revenue is recognized due to contracts containing specific performance obligations that are required to be met prior to a customer being invoiced. We generally record contract liabilities when cash is collected in advance of us satisfying performance obligations, including those that are satisfied over a period of time. Balances of our contract assets and contract liabilities may fluctuate due to timing of cash collections.

The following table summarizes our contract assets and contract liabilities arising from contracts with customers (in thousands):


	Year Ended December 31,
	2021		2020
Contract assets (1)
Balance at January 1 — current	$	9,240	$	8,634
Balance at January 1 — non-current	8,321		6,774
Total	17,561		15,408
Balance at December 31 — current	9,927		9,240
Balance at December 31 — non-current	5,294		8,321
Total	15,221		17,561
(Decrease)/Increase	$	(2,340)	$	2,153
Contract liabilities (2)
Balance at January 1 — current	$	26,980	$	28,510
Balance at January 1 — non-current	289		354
Total	27,269		28,864
Balance at December 31 — current	36,238		26,980
Balance at December 31 — non-current	377		289
Total	36,615		27,269
Increase/(Decrease)	$	9,346	$	(1,595)

(1) The current portion of contract assets is included within trade and other receivables, net and the non-current portion is included within other receivables in our Balance Sheets.

(2) The current portion of contract liabilities is included within accounts payable and accrued expenses, and the non-current portion is included within other accrued expenses and liabilities in our Balance Sheets.

We recognized approximately $21.3 million and $23.5 million in revenue that was included in the beginning contract liability balance during 2021 and 2020, respectively.

Games Revenues

Our products and services include electronic gaming devices, such as Native American Class II offerings and other electronic bingo products, Class III slot machine offerings, VLTs, B2B digital online gaming activities, accounting and central determinant systems, and other back office systems. We conduct our Games segment business based on results generated from the following major revenue streams: (i) Gaming Operations; (ii) Gaming Equipment and Systems; and (iii) Gaming Other.

Gaming Operations

We primarily provide: (i) leased gaming equipment, both Class II and Class III offerings, on a participation or a daily fixed-fee basis, including standard games and hardware and premium games and hardware, inclusive of local-area progressive, and WAP; (ii) accounting and central determinant systems; and (iii) digital online gaming activities. We evaluate the recognition of lease revenues based on criteria set forth in ASC 842. Under these arrangements, we retain ownership of the machines installed at customer facilities. We recognize recurring rental income over time based on a percentage of the net win per day generated by the leased gaming equipment or a daily fixed-fee based on the timing services are provided. Such revenues are generated daily and are limited to the lesser of the net win per day generated by the leased gaming equipment or the fixed daily fee and the lease payments that have been collected from the lessee. Gaming operations revenues generated by leased gaming equipment deployed at sites under placement fee agreements give rise to contract rights, which are amounts recorded to intangible assets for dedicated floor space resulting from such agreements. The gaming operations revenues generated by these arrangements are reduced by the accretion of contract rights, which represents the related amortization of the contract rights recorded in connection with such agreements. Gaming operations lease revenues accounted for under ASC 842 are generally short-term in nature with payment terms ranging from 30 to 90 days. We recognized $189.8 million, $116.1 million, and $143.2 million in lease revenues for the years ended December 31, 2021, 2020, and 2019, respectively.

Gaming operations revenues include amounts generated by WAP systems, which are recognized under ASC 606. WAP consists of linked slot machines located in multiple casino properties that are connected to a central system. WAP-based gaming machines have a progressive jackpot administered by us that increases with every wager until a player wins the top award combination. Casino operators pay us a percentage of the coin-in (the total amount wagered), a percentage of net win, or a combination of both for services related to the design, assembly, installation, operation, maintenance, administration, and marketing of the WAP offering. The gaming operations revenues with respect to WAP machines represent a separate performance obligation and we transfer control and recognize revenue over time based on a percentage of the coin-in, a percentage of net win, or a combination of both, based on the timing services are provided. These arrangements are generally short-term in nature with a majority of invoices payable within 30 to 90 days. Such revenues are presented in the Statements of Operations, net of the jackpot expense, which are composed of incremental amounts funded by a portion of coin-in from the players. At the time a jackpot is won by a player, an additional jackpot expense is recorded in connection with the base seed amount required to fund the minimum level as set forth in the WAP arrangements with the casino operators.

Gaming operations also include revenues generated under our arrangement to provide the New York State Gaming Commission (the “NYSGC”) with a central determinant monitoring and accounting system for the VLTs in operation at licensed State of New York gaming facilities. Pursuant to our agreement with the NYSGC, we receive a portion of the network-wide net win (generally, cash-in less prizes paid) per day in exchange for provision and maintenance of the central determinant system and recognize revenue over time, based on the timing services are provided. We also provide the central determinant system technology to Native American tribes in other licensed jurisdictions, for which we receive a portion of the revenue generated from the VLTs connected to the system. These arrangements are generally short-term in nature with payments due monthly.

Gaming operations revenues include amounts generated by our digital offering comprised of B2B activities. Our B2B operations provide games to our business customers, including both regulated real money and social casinos, which offer the games to consumers on their apps. Our B2B arrangements primarily provide access to our game content, and revenue is recognized over time as the control transfers upon our business partners’ daily access to such content based on either a flat fee or revenue share arrangements with the social and regulated real money casinos, based on the timing services are provided.

Gaming Equipment and Systems

Gaming equipment and systems revenues are derived from the sale of some combination of: (i) gaming equipment and player terminals; (ii) game content; (iii) license fees; and (iv) ancillary equipment, such as signage and lighting packages. Such arrangements are predominately short-term in nature with payment terms ranging from 30 to 180 days, and with certain agreements providing for extended payment terms up to 39 months. Each contract containing extended payment terms over a period of 12 months is evaluated for the presence of a financing component; however, our contracts generally do not contain a financing component that has been determined to be significant to the contract. Distinct and thus, separately identifiable performance obligations for gaming equipment and systems arrangements include gaming equipment, player terminals, content, system software, license fees, ancillary equipment, or various combinations thereof. Gaming equipment and systems revenues are recognized at a point in time when control of the promised goods and services transfers to the customer, which is generally upon shipment or delivery pursuant to the terms of the contract. The performance obligations are generally satisfied at the same time or within a short period of time.

Gaming Other

Gaming other revenues are generated from fees paid by casino customers that participate in our TournEvent of Champions® national slot tournament. Casinos, in partnership with Everi, host slot tournaments, in which winners of the local and regional tournaments throughout the year then participate in a national tournament that results in the determination of a final champion. Revenues are recognized as earned over a period of time, based on the timing services are provided. These arrangements are generally short-term in nature with payment terms ranging from 30 to 90 days.

FinTech Revenues

Financial Access Services

Financial Access Services revenues are generally comprised of the following distinct performance obligations: funds advanced, funds dispensed, and check services. We do not control the funds advanced and funds dispensed services provided to a customer and, therefore, we are acting as an agent whose performance obligation is to arrange for the provision of these services. Our financial access services involve the movement of funds between the various parties associated with financial access transactions and give rise to settlement receivables and settlement liabilities, both of which are settled in days following the transaction.

Funds advance revenues are primarily comprised of transaction fees assessed to gaming patrons in connection with credit card financial access and POS debit card financial access transactions. Such fees are primarily based on a combination of a fixed amount plus a percentage of the face amount of the credit card financial access or POS debit card financial access transaction amount. In connection with these types of transactions, we report certain direct costs incurred as reductions to revenues on a net basis, which generally include: (i) commission expenses payable to casino operators; (ii) interchange fees payable to the network associations; and (iii) processing and related costs payable to other third-party partners.

Funds dispensed revenues are primarily comprised of transaction fees in the form of cardholder surcharges assessed to gaming patrons in connection with funds dispensed cash withdrawals at the time the transactions are authorized and interchange reimbursement fees paid to us by the patrons’ issuing banks. The cardholder surcharges assessed to gaming patrons in connection with funds dispensed cash withdrawals are currently a fixed dollar amount and not a percentage of the transaction amount. In connection with these types of transactions, we report certain direct costs incurred as reductions to revenues on a net basis, which generally include: (i) commission expenses payable to casino operators; (ii) interchange fees payable to the network associations; and (iii) processing and related costs payable to other third-party partners.

Check services revenues are principally comprised of check warranty revenues and are generally based upon a percentage of the face amount of checks warranted. These fees are paid to us by gaming establishments. We report certain direct costs incurred as reductions to revenues on a net basis, which include: (i) warranty expenses, defined as amounts paid by the third-party check warranty service provider to gaming establishments to purchase dishonored checks; and (ii) service fees, defined as amounts paid to the third-party check warranty service provider for its assistance.

For financial access services arrangements, since the customer simultaneously receives and consumes the benefits as the performance obligations occur, we recognize revenues as earned over a period of time using an output method depicting the transfer of control to the customer based on variable consideration, such as volume of transactions processed with variability generally resolved in the reporting period.

Software and Other

Software and other revenues include amounts derived from our financial access, loyalty kiosk, compliance, and loyalty related revenue streams from the sale of: (i) software licenses, software subscriptions, professional services, and certain other ancillary fees; (ii) service-related fees associated with the sale, installation, training, and maintenance of equipment directly to our customers under contracts, which are generally short-term in nature with payment terms ranging from 30 to 90 days, secured by the related equipment; (iii) credit worthiness-related software subscription services that are based upon either a flat monthly unlimited usage fee or a variable fee structure driven by the volume of patron credit histories generated; and (iv) ancillary marketing and database services. Software license revenues are recognized at a point in time; software subscriptions are recognized over the term of the contract.

Hardware

Hardware revenues are derived from the sale of our financial access and loyalty kiosks and related equipment and are accounted for under ASC 606, unless such transactions meet definition of a sales type or direct financing lease which are accounted for under ASC 842. Revenues are recognized at a point in time when control of the promised goods and services transfers to the customer generally upon shipment or delivery pursuant to the terms of the contract. The sales contracts are generally short-term

in nature with payment terms ranging from 30 to 90 days, while certain agreements provide for extended payment terms of up to 60 months. Each contract containing extended payment terms over a period of 12 months is evaluated for the presence of a financing component; however, our contracts generally do not contain a financing component that has been determined to be significant to the contract.

Cost of Revenues (Exclusive of Depreciation and Amortization)

The cost of revenues (exclusive of depreciation and amortization) represents the direct costs required to perform revenue generating transactions. The costs included within cost of revenues (exclusive of depreciation and amortization) are inventory and related costs associated with the sale of our fully integrated kiosks, electronic gaming machines and system sale, check cashing warranties, field service, and network operations personnel.

Advertising, Marketing and Promotional Costs

We expense advertising, marketing, and promotional costs as incurred.

Research and Development Costs

We conduct research and development activities for both our Games and FinTech segments. Our Gaming research and development activities are primarily to develop gaming systems, game engines, casino data management systems, central determination and other electronic bingo-outcome determination systems, video lottery outcome determination systems, gaming platforms and gaming content, and to enhance our existing product lines. Our FinTech research and development activities are primarily to develop: (i) payments products, systems, and related capabilities such as security, encryption, and business rule engines that deliver differentiated patron experiences and integrate with our other products; (ii) compliance products that increase efficiencies, profitability, enhance employee/patron relationships, and meet regulatory reporting requirements; and (iii) loyalty products, systems, and features that attract, engage, and retain patrons in more intuitive and contextual ways than our competition.Research and development costs consist primarily of salaries and benefits, consulting fees, certification and testing fees. Once the technological feasibility has been established, the project is capitalized until it becomes available for general release.

Income Taxes

We are subject to income taxes in the United States as well as various states and foreign jurisdictions in which we operate. Due to the 2017 Tax Act, there is no U.S. federal tax on cash repatriation from foreign subsidiaries; however, we could be subject to foreign withholding tax and U.S. state income taxes. The 2017 Tax Act also subjects our foreign subsidiary earnings to the Global Intangible Low-Taxed Income (“GILTI”) tax provisions. Some items of income and expense are not reported in tax returns and our Financial Statements in the same year. The tax effect of such temporary differences is reported as deferred income taxes.

Our deferred tax assets and liabilities are recognized for the expected future tax consequences of events that have been included in our Financial Statements or income tax returns. Deferred tax assets and liabilities are determined based upon differences between financial statement carrying amounts of existing assets and their respective tax bases using enacted tax rates expected to apply to taxable income in years in which those temporary differences are expected to be recovered or settled. The effect on the income tax provision or benefit and deferred tax assets and liabilities for a change in rates is recognized in the Statements of Operations in the period that includes the enactment date.

When measuring deferred tax assets, certain estimates and assumptions are required to assess whether a valuation allowance should be established by evaluating both positive and negative factors in accordance with accounting guidance. This evaluation requires that we exercise judgment in determining the relative significance of each factor. The assessment of the valuation allowance involves significant estimates regarding future taxable income and when it is recognized, the amount and timing of taxable differences, the reversal of temporary differences and the implementation of tax-planning strategies. A valuation allowance is established based on the weight of available evidence, including both positive and negative indicators, if it is more likely than not that a portion, or all, of the deferred tax assets will not be realized. Greater weight is given to evidence that is objectively verifiable, most notably historical results. If we report a cumulative loss from continuing operations before income taxes for a reasonable period of time, this form of negative evidence is difficult to overcome. In that case, we include certain aspects of our historical results in our forecasts of future taxable income, as we do not have the ability to solely rely on forecasted improvements in earnings to recover deferred tax assets. When we report a cumulative loss position, to the extent our results of operations improve, such that we have the ability to overcome the more likely than not accounting standard, we may be able to reverse the valuation allowance in the applicable period of determination. In addition, we rely on deferred tax liabilities in our assessment of the realizability of deferred tax assets if the temporary timing difference is anticipated to reverse in the same period and jurisdiction and the deferred tax liabilities are of the same character as the temporary differences giving rise to the deferred tax assets.

We also follow GAAP to account for uncertainty in income taxes as recognized in our Financial Statements. The accounting standard creates a single model to address uncertainty in income tax positions and prescribes the minimum recognition threshold a tax position is required to meet before being recognized in our Financial Statements. The standard also provides guidance on derecognition, measurement, classification, interest and penalties, accounting in interim periods, disclosure, and transition.

Under this standard, we may recognize tax benefits from an uncertain position only if it is more likely than not that the position will be sustained upon examination by taxing authorities based on the technical merits of the issue. The amount recognized is the largest benefit that we believe has greater than a 50% likelihood of being realized upon settlement. Actual income taxes paid may vary from estimates depending upon changes in income tax laws, actual results of operations, and the final audit of tax returns by taxing authorities. Tax assessments may arise several years after tax returns have been filed.

Employee Benefits Plan

The Company provides a 401(k) Plan that allows employees to defer up to the lesser of the Internal Revenue Code prescribed maximum amount or 75% of their income on a pre-tax basis through contributions to the plan. As a benefit to employees, the Company matches a percentage of these employee contributions (as defined in the plan document). As a direct result of the circumstances surrounding the global pandemic, we were unable to offer a Company match of employee contributions for a majority of 2020.

Fair Values of Financial Instruments

The fair value of a financial instrument represents the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. Fair value estimates are made at a specific point in time, based upon relevant market information about the financial instrument. The carrying amount of cash and cash equivalents, restricted cash, settlement receivables, short-term trade and other receivables, settlement liabilities, accounts payable, and accrued expenses approximate fair value due to the short-term maturities of these instruments. The fair value of the long-term trade and loans receivable is estimated by discounting expected future cash flows using current interest rates at which similar loans would be made to borrowers with similar credit ratings and remaining maturities. The fair value of long-term accounts payable is estimated by discounting the total obligation using the appropriate interest rates. As of December 31, 2021 and 2020, the fair value of trade and loan receivable approximated the carrying value due to contractual terms generally being slightly over 12 months. The fair value of our borrowings is estimated based on various inputs to determine a market price, such as: market demand and supply, size of tranche, maturity, and similar instruments trading in more active markets.

Foreign Currency Translation

Foreign currency denominated assets and liabilities for those foreign entities for which the local currency is the functional currency are translated into U.S. dollars based on exchange rates prevailing at the end of each year. Revenues and expenses are translated at average exchange rates during the year. The effects of foreign exchange gains and losses arising from these translations are included as a component of other comprehensive income (loss) on the Statements of Operations. Translation adjustments on intercompany balances of a long-term investment nature are recorded as a component of accumulated other comprehensive loss on our Balance Sheets.

Use of Estimates

We have made estimates and judgments affecting the amounts reported in these financial statements and the accompanying notes in conformity with GAAP. The actual results may materially differ from these estimates.

Earnings Applicable to Common Stock

Basic earnings per share is calculated by dividing net income by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect the effect of potential common stock resulting from assumed stock option exercises and vesting of restricted stock unless it is anti-dilutive. To the extent we report a net loss from continuing operations in a particular period, no potential dilution from the application of the treasury stock method would be applicable.

Share-Based Compensation

Stock-based compensation results in a cost that is measured at fair value on the grant date of an award. Generally, we issue grants that are classified as equity awards. However, if we issue grants that are considered liability awards, they are remeasured at fair value at the end of each reporting period until settlement with changes being recognized as stock-based compensation cost and a corresponding adjustment recorded to the liability, either immediately or during the remaining service period depending on the vested status of the award. Generally, with respect to stock option awards granted under our plans, they expire 10 years from the date of grant with the exercise price based on the closing market price of our common stock on the date of the grant.

Our restricted stock awards, restricted stock units, and performance-based stock units are measured at fair value based on the closing stock price on the grant date. Our time-based stock option awards are measured at fair value on the grant date using the Black Scholes model. The stock-based compensation cost is recognized on a straight-line basis over the vesting period of the awards.

Forfeiture amounts are estimated at the grant date for stock awards and are updated periodically based on actual results, to the extent they differ from the estimates.

Acquisition-Related Costs

We recognize a liability for acquisition-related costs when the expense is incurred. Acquisition-related costs include, but are not limited to: financial advisory, legal and debt fees; accounting, consulting, and professional fees associated with due diligence, valuation, and integration; severance; and other related costs and adjustments.

Recent Accounting Guidance

Recently Adopted Accounting Guidance


Standard	Description	Date of Adoption	Effect on Financial Statements
Accounting Standard Update (“ASU”) No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes	This ASU simplifies the accounting for income taxes by removing certain exceptions for investments, intraperiod allocations, and interim calculations, and adds guidance to reduce the complexity of applying Topic 740.	January 1, 2021	The adoption of this ASU did not have a material effect on our Financial Statements or on our disclosures.

Recent Accounting Guidance Not Yet Adopted


Standard	Description	Date of Planned Adoption	Effect on Financial Statements
ASU 2021-05, 'Leases (Topic 842): Lessors—Certain Leases with Variable Lease Payments	This ASU amends the lease classification requirements for lessors to align them with practice under ASC Topic 840.	January 1, 2022	We are currently evaluating the impact of adopting this ASU on our Financial Statements and our disclosures; however, we do not expect the impact to be material.

As of December 31, 2021, other than what has been described above, we do not anticipate recently issued accounting guidance to have a significant impact on our consolidated financial statements.

Leases

We determine if a contract is, or contains, a lease at the inception, or modification, of a contract based on whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control over the use of an asset is predicated upon the notion that a lessee has both the right to (i) obtain substantially all of the economic benefit from the use of the asset; and (ii) direct the use of the asset.

Operating lease right-of-use (“ROU”) assets and liabilities are recognized based on the present value of minimum lease payments over the expected lease term at commencement date. Lease expense is recognized on a straight-line basis over the expected lease term. Our lease arrangements have both lease and non-lease components, and we have elected the practical expedient to account for the lease and non-lease elements as a single lease.

Certain of our lease arrangements contain options to renew with terms that generally have the ability to extend the lease term to a range of approximately one to ten years. The exercise of lease renewal options is generally at our sole discretion. The expected lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise such option. The depreciable life of leased assets and leasehold improvements are limited by the expected term of such assets, unless there is a transfer of title or purchase option reasonably certain to be exercised.

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Balance Sheet Classification of Cash


		Year Ended December 31,
	Classification on our Balance Sheets	2021		2020		2019
Cash and cash equivalents	Cash and cash equivalents	$	302,009	$	251,706	$	289,870
Restricted cash — current	Prepaid expenses and other current assets	1,616		542		6,639
Restricted cash — non-current	Other assets	101		101		101
Total		$	303,726	$	252,349	$	296,610

Contract Assets and Liabilities

The following table summarizes our contract assets and contract liabilities arising from contracts with customers (in thousands):


	Year Ended December 31,
	2021		2020
Contract assets (1)
Balance at January 1 — current	$	9,240	$	8,634
Balance at January 1 — non-current	8,321		6,774
Total	17,561		15,408
Balance at December 31 — current	9,927		9,240
Balance at December 31 — non-current	5,294		8,321
Total	15,221		17,561
(Decrease)/Increase	$	(2,340)	$	2,153
Contract liabilities (2)
Balance at January 1 — current	$	26,980	$	28,510
Balance at January 1 — non-current	289		354
Total	27,269		28,864
Balance at December 31 — current	36,238		26,980
Balance at December 31 — non-current	377		289
Total	36,615		27,269
Increase/(Decrease)	$	9,346	$	(1,595)

(1) The current portion of contract assets is included within trade and other receivables, net and the non-current portion is included within other receivables in our Balance Sheets.

(2) The current portion of contract liabilities is included within accounts payable and accrued expenses, and the non-current portion is included within other accrued expenses and liabilities in our Balance Sheets.

Schedule of Borrowings

The estimated fair value and outstanding balances of our borrowings are as follows (dollars in thousands):


	Level of Hierarchy	Fair Value		Outstanding Balance
December 31, 2021
$600 million New Term Loan	2	$	598,171	$	598,500
$400 million 2021 Unsecured Notes	2	$	404,000	$	400,000
December 31, 2020
Term loan	2	$	729,138	$	735,500
Incremental term loan	2	$	129,972	$	124,375
Senior unsecured notes	2	$	296,083	$	285,381

LEASES (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Balance Sheet Information

Supplemental balance sheet information related to our operating leases is as follows (in thousands):


	Classification on our Balance Sheets	At December 31, 2021		At December 31, 2020
Assets
Operating lease ROU assets	Other assets, non-current	$	12,692	$	16,104
Liabilities
Current operating lease liabilities	Accounts payable and accrued expenses	$	5,663	$	5,649
Non-current operating lease liabilities	Other accrued expenses and liabilities	$	11,869	$	16,077

Cash Flow Information

Supplemental cash flow information related to leases is as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Cash paid for:
Long-term operating leases	$	6,675	$	6,411	$	5,893
Short-term operating leases	$	1,622	$	1,908	$	1,799
Right-of-use assets obtained in exchange for lease obligations:
Operating leases(1)	$	1,362	$	10,356	$	16,533	(2)

(1) The amounts are presented net of current year terminations and exclude amortization for the period.

(2) The amount includes approximately $13.6 million of operating lease ROU assets obtained in exchange for existing lease obligations due to the adoption of ASC 842 (net of operating lease terminations occurring in 2019 in the amount of approximately $0.5 million), and approximately $2.5 million of operating lease ROU assets obtained in exchange for new lease obligations entered into during the year ended December 31, 2019.

Lease Costs

Other information related to lease terms and discount rates is as follows:


	At December 31, 2021		At December 31, 2020
Weighted Average Remaining Lease Term (in years):
Operating leases	3.52		4.16
Weighted Average Discount Rate:
Operating leases	5.04	%	5.16	%

Components of lease expense are as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Operating Lease Cost:
Operating lease cost (1)	$	5,474	$	5,770	$	4,907
Variable lease cost	$	1,267	$	1,682	$	1,619

(1) The amount includes approximately $4.4 million, $4.9 million and $4.3 million in non-cash lease expense attributable to amortization of ROU assets for the years ended December 31, 2021, 2020 and 2019, respectively.

Payments Due

Maturities of lease liabilities are summarized as follows as of December 31, 2021 (in thousands):


Year ending December 31,	Amount
2022	$	6,386
2023	5,001
2024	3,739
2025	2,971
2026	889
Thereafter	154
Total future minimum lease payments	$	19,140
Amount representing interest	(1,608)
Present value of future minimum lease payments	$	17,532
Current operating lease obligations	(5,663)
Long-term lease obligations	$	11,869

Sales-Type Lease

Supplemental balance sheet information related to our sales-type leases is as follows (in thousands):


	Classification on our Balance Sheets	At December 31, 2021		At December 31, 2020
Assets
Net investment in sales-type leases — current	Trade and other receivables, net	$	1,331	$	1,397
Net investment in sales-type leases — non-current	Other receivables	$	—	$	803

TRADE AND OTHER RECEIVABLES (Tables)

12 Months Ended

Dec. 31, 2021

Receivables [Abstract]

Schedule of Trade and Other Receivables

The balance of trade and other receivables consisted of the following (in thousands):


	At December 31,
	2021		2020
Trade and other receivables, net
Games trade and loans receivables	$	77,053	$	44,794
FinTech trade and loans receivables	21,504		14,683
Contract assets (1)	15,221		17,561
Insurance settlement receivable (2)	—		7,650
Other receivables	3,695		1,923
Net investment in sales-type leases	1,331		2,200
Total trade and other receivables, net	118,804		88,811
Non-current portion of receivables
Games trade and loans receivables	(1,348)		(1,333)
FinTech trade and loans receivables	(7,340)		(4,163)
Contract assets (1)	(5,294)		(8,321)
Net investment in sales-type leases	—		(803)
Total non-current portion of receivables	(13,982)		(14,620)
Total trade and other receivables, current portion	$	104,822	$	74,191

(1) Refer to “Note 2 — Basis of Presentation and Summary of Significant Accounting Policies” for a discussion on the contract assets.

(2) Refer to “Note 13 — Commitments and Contingencies” for a discussion on the insurance settlement receivable.

Summary of Allowance for Credit Losses

The activity in our allowance for credit losses for the years ended December 31, 2021 and 2020 is as follows (in thousands):


	At December 31,
	2021		2020
Beginning allowance for credit losses	$	(3,689)	$	(5,786)
Provision	(7,540)		(8,010)
Charge-offs and recoveries	6,068		10,107
Ending allowance for credit losses	$	(5,161)	$	(3,689)

INVENTORY (Tables)

12 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

Schedule of Components of Inventory

Inventory consisted of the following (in thousands):


	At December 31,
	2021		2020
Inventory
Component parts, net of reserves of $2,422 and $1,262 at December 31, 2021 and December 31, 2020, respectively	$	22,490	$	21,560
Work-in-progress	554		182
Finished goods	6,189		6,000
Total inventory	$	29,233	$	27,742

PREPAID EXPENSES AND OTHER ASSETS (Tables)

12 Months Ended

Dec. 31, 2021

Prepaid Expense and Other Assets [Abstract]

Schedule of Components of Current Portion of Prepaid and Other Assets

The balance of the current portion of prepaid expenses and other assets consisted of the following (in thousands):


	At December 31,
	2021		2020
Prepaid expenses and other current assets
Prepaid expenses	$	14,389	$	11,282
Deposits	7,709		4,133
Restricted cash(1)	1,616		542
Other	3,585		1,391
Total prepaid expenses and other current assets	$	27,299	$	17,348

Schedule of Components of Non-Current Portion of Prepaid and Other Assets

The balance of the non-current portion of other assets consisted of the following (in thousands):


	At December 31,
	2021		2020
Other assets
Operating lease ROU assets	$	12,692	$	16,104
Prepaid expenses and deposits	4,789		4,952
Debt issuance costs of revolving credit facility	1,760		267
Other	418		673
Total other assets	$	19,659	$	21,996

PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Schedule of Components of Property, Equipment and Leased Assets

Property and equipment consist of the following (in thousands):


		At December 31, 2021						At December 31, 2020
	Useful Life (Years)	Cost		Accumulated Depreciation		Net Book Value		Cost		Accumulated Depreciation		Net Book Value
Property and equipment
Rental pool - deployed	2-4	$	248,958	$	166,075	$	82,883	$	216,775	$	136,975	$	79,800
Rental pool - undeployed	2-4	23,284		18,285		4,999		21,974		16,680		5,294
FinTech equipment	1-5	32,802		21,257		11,545		33,349		21,947		11,402
Leasehold and building improvements	Lease Term	12,598		9,234		3,364		11,352		8,557		2,795
Machinery, office, and other equipment	1-5	45,277		28,075		17,202		45,085		32,053		13,032
Total		$	362,919	$	242,926	$	119,993	$	328,535	$	216,212	$	112,323

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in the Carrying Amount of Goodwill

The changes in the carrying amount of goodwill are as follows (in thousands):


	Games		Financial Access Services		Kiosk Sales and Services		Central Credit Services		Compliance Sales and Services		Loyalty Sales and Services		Total
Goodwill
Balance, December 31, 2019	$	449,041	$	157,074	$	5,745	$	17,127	$	11,578	$	41,070	$	681,635
Foreign translation adjustment	—		14		—		—		—		—		14
Acquisitions	—		—		—		—		—		325		325
Balance, December 31, 2020	$	449,041	$	157,088	$	5,745	$	17,127	$	11,578	$	41,395	$	681,974
Foreign translation adjustment	—		2		—		—		—		—		2
Acquisitions	—		—		—		—		687		—		687
Balance, December 31, 2021	$	449,041	$	157,090	$	5,745	$	17,127	$	12,265	$	41,395	$	682,663

Schedule of Other Intangible Assets

Other intangible assets consist of the following (in thousands):


		At December 31, 2021						At December 31, 2020
	Useful Life (Years)	Cost		Accumulated Amortization		Net Book Value		Cost		Accumulated Amortization		Net Book Value
Other intangible assets
Contract rights under placement fee agreements	3-7	$	58,837	$	4,237	$	54,600	$	60,561	$	28,108	$	32,453
Customer contracts	3-14	72,138		58,758		13,380		71,975		54,407		17,568
Customer relationships	8-12	231,100		147,515		83,585		231,100		126,549		104,551
Developed technology and software	1-6	342,309		280,412		61,897		313,957		255,771		58,186
Patents, trademarks, and other	2-18	20,547		19,415		1,132		19,682		17,813		1,869
Total		$	724,931	$	510,337	$	214,594	$	697,275	$	482,648	$	214,627

Schedule of Anticipated Amortization Expense

The anticipated amortization expense related to other intangible assets, assuming no subsequent impairment of the underlying assets, is as follows (in thousands):


Anticipated amortization expense	Amount
2022	$	57,122
2023	38,104
2024	28,402
2025	26,342
2026	25,712
Thereafter	11,327
Total (1)	$	187,009

(1) For the year ended December 31, 2021, the Company had $27.6 million in other intangible assets that had not yet been placed into service.

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)

12 Months Ended

Dec. 31, 2021

Payables and Accruals [Abstract]

Schedule of Accounts Payable and Accrued Expenses

The following table presents our accounts payable and accrued expenses (amounts in thousands):


	At December 31,
	2021		2020
Accounts payable and accrued expenses
Customer commissions payable	57,515		39,028
Contract liabilities	36,238		26,980
Payroll and related expenses	29,125		13,357
Accounts payable - trade	25,453		15,503
Accrued interest	9,273		1,068
Operating lease liabilities	5,663		5,649
Financial access processing and related expenses (1)	3,619		1,109
Accrued income taxes	2,756		1,329
Contingent consideration and acquisition-related liabilities (2)	—		24,674
Litigation accrual (3)	—		12,727
Other	4,291		3,605
Total accounts payable and accrued expenses	$	173,933	$	145,029

(1) Refer to “Note 12 — Long-Term Debt ” for further discussion.

(2) Refer to “Note 4 — Business Combinations” for discussion on contingent consideration and acquisition-related liabilities.

(3) Refer to “Note 13 — Commitments and Contingencies” for discussion on this legal matter.

LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Outstanding Indebtedness

The following table summarizes our indebtedness (in thousands):


	Maturity	Interest	At December 31,
	Date	Rate	2021		2020
Long-term debt
$600 million New Term Loan	2028	LIBOR+2.50%	$	598,500	$	—
$125 million New Revolver	2026	LIBOR+2.50%	—		—
$820 million Prior Term Loan	2024	LIBOR+2.75%	—		735,500
$125 million Prior Incremental Term Loan	2024	LIBOR+10.50%	—		124,375
Senior Secured Credit Facilities			598,500		859,875
$400 million 2021 Unsecured Notes	2029	5.00%	400,000		—
$375 million 2017 Unsecured Notes	2025	7.50%	—		285,381
Total debt			998,500		1,145,256
Debt issuance costs and discount			(16,975)		(16,003)
Total debt after debt issuance costs and discount			981,525		1,129,253
Current portion of long-term debt			(6,000)		(1,250)
Total long-term debt, net of current portion			$	975,525	$	1,128,003

Schedule of Principal Repayments

The maturities of our borrowings at December 31, 2021 are as follows (in thousands):


	Amount
Maturities of borrowings
2022	$	6,000
2023	6,000
2024	6,000
2025	6,000
2026	6,000
Thereafter	968,500
Total	$	998,500

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Schedule of Weighted Average Shares of Common Stock

WEIGHTED AVERAGE SHARES OF COMMON STOCK (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

The weighted average number of common stock outstanding used in the computation of basic and diluted earnings per share is as follows (in thousands):


	At December 31,
	2021	2020	2019
Weighted average shares
Weighted average number of common shares outstanding — basic	89,284	85,379	72,376
Potential dilution from equity awards (1)	10,683	—	6,859
Weighted average number of common shares outstanding — diluted (1)	99,967	85,379	79,235

(1) There were no shares that were anti-dilutive under the treasury stock method for the year ended December 31, 2021. The Company was in a net loss position for the year ended December 31, 2020; therefore, no potential dilution from the application of the treasury stock method was applicable. The potential dilution excludes the weighted average effect of equity awards to purchase approximately 3.3 million and 0.5 million shares of common stock for the years ended December 31, 2020, and 2019 as the application of the treasury stock method, as required, makes them anti-dilutive.

SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Summary of Award Activity

A summary of award activity is as follows (in thousands):


	Stock Options Granted	Restricted Stock Units Granted
Outstanding, December 31, 2020	10,261	4,250
Granted	—	968
Exercised options or vested shares	(3,180)	(1,566)
Canceled or forfeited	(8)	(112)
Outstanding, December 31, 2021	7,073	3,540

Summary of Option Activity

The following table presents the options activity:


	Number of Options (in thousands)	Weighted Average Exercise Price (per Share)		Weighted Average Life Remaining (Years)	Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2020	10,261	$	5.18	4.4	$	88,550
Granted	—
Exercised	(3,180)	5.74
Canceled or forfeited	(8)	5.21
Outstanding, December 31, 2021	7,073	4.93		3.8	116,155
Vested and expected to vest after, December 31, 2021	7,073	4.93		3.8	116,148
Exercisable, December 31, 2021	7,068	$	4.93	3.8	$	116,088

Schedule of Information About Stock Options Outstanding and Exercisable

The following table presents the options outstanding and exercisable by price range:


				Options Outstanding				Options Exercisable
				Number Outstanding	Weighted Average Remaining Contract Life	Weighted Average Exercise		Number Exercisable	Weighted Average Exercise
Range of Exercise Prices				(in thousands)	(Years)	Prices		(in thousands)	Price
$	1.46	$	1.46	1,095	4.4	$	1.46	1,095	$	1.46
1.57		2.78		820	4.3	2.54		820	2.54
3.29		3.29		2,092	5.2	3.29		2,092	3.29
5.58		7.09		824	2.3	6.68		824	6.68
7.10		7.61		245	1.4	7.45		245	7.45
7.74		7.74		694	3.3	7.74		694	7.74
7.88		7.88		20	6.6	7.88		15	7.88
8.32		8.32		25	5.8	8.32		25	8.32
8.92		8.92		1,250	2.1	8.92		1,250	8.92
9.74		9.74		8	2.0	9.74		8	9.74
				7,073				7,068

Schedule of Nonvested Restricted Stock Units Activity

The following table presents our restricted stock unit awards activity:


	Shares Outstanding (in thousands)	Weighted Average Grant Date Fair Value (per Share)		Weighted Average Life Remaining (Years)	Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2020	4,250	$	7.75	1.2	$	58,680
Granted	968	17.70
Vested	(1,566)	7.60
Forfeited	(112)	9.53
Outstanding, December 31, 2021	3,540	10.49		1.0	75,532
Vested and expected to vest after, December 31, 2021	3,087	$	10.69	1.0	$	65,907

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Consolidated Loss Before Tax for Domestic and Foreign Operations

The following presents consolidated income (loss) before tax for domestic and foreign operations (in thousands):


	Year Ended December 31,
	2021		2020		2019
Consolidated income (loss) before tax
Domestic	$	100,232	$	(87,832)	$	11,709
Foreign	793		396		4,285
Total	$	101,025	$	(87,436)	$	15,994

Income Tax (Benefit) Provision Attributable to Loss From Operations Before Tax

The income tax (benefit) provision attributable to the (loss) income from operations before tax consists of the following components (in thousands):


	Year Ended December 31,
	2021		2020		2019
Income tax (benefit) provision
Domestic	$	(51,923)	$	(5,711)	$	(1,238)
Foreign	23		(45)		715
Total income tax benefit	$	(51,900)	$	(5,756)	$	(523)
Income tax (benefit) provision
Current	$	177	$	823	$	1,071
Deferred	(52,077)		(6,579)		(1,594)
Total income tax benefit	$	(51,900)	$	(5,756)	$	(523)

Reconciliation of Federal Statutory Rate and Effective Income Tax Rate

A reconciliation of the federal statutory rate and the effective income tax rate is as follows:


	Year Ended December 31,
	2021		2020		2019
Income tax reconciliation
Federal statutory rate	21.0	%	21.0	%	21.0	%
Foreign provision	—	%	(0.2)	%	2.5	%
State/province income tax	3.5	%	4.2	%	(1.6)	%
Non-deductible compensation cost	(8.1)	%	0.5	%	(5.3)	%
Adjustments to carrying values	1.7	%	0.2	%	6.8	%
Research and development credit	(2.3)	%	1.0	%	(18.8)	%
Valuation allowance(1)	(67.2)	%	(19.7)	%	(11.9)	%
Global intangible low-taxed income(2)	0.1	%	—	%	2.7	%
Non-deductible expenses - other	0.1	%	(0.1)	%	1.2	%
Other	(0.2)	%	(0.3)	%	0.1	%
Effective tax rate	(51.4)	%	6.6	%	(3.3)	%

(1) We removed the full valuation allowance in the federal and certain state jurisdictions in the fourth quarter of 2021.

(2) We had no GILTI inclusion in 2020 due to the high tax exception in some foreign jurisdictions and losses in others.

Schedule of Major Tax-Effected Components of Deferred Tax Assets and Liabilities

The major tax-effected components of the deferred tax assets and liabilities are as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Deferred income tax assets related to:
Net operating losses	$	84,619	$	109,872	$	97,613
Stock compensation expense	6,210		7,293		6,802
Accounts receivable allowances	1,275		912		1,415
Accrued and prepaid expenses	11,284		8,977		7,869
Other	913		2,098		1,880
Tax credits	14,688		12,377		12,116
Interest limitation	—		—		3,738
Valuation allowance	(804)		(68,746)		(51,522)
Total deferred income tax assets	$	118,185	$	72,783	$	79,911
Deferred income tax liabilities related to:
Property and equipment	$	23,610	$	18,699	$	23,012
Other intangible assets	59,156		67,996		76,279
Long-term debt	7		1,482		2,680
Other	3,291		4,562		4,341
Total deferred income tax liabilities	$	86,064	$	92,739	$	106,312
Deferred income taxes, net	$	32,121	$	(19,956)	$	(26,401)

Reconciliation of Total Amounts of Deferred Tax Asset Valuation Allowance

The following is a tabular reconciliation of the total amounts of deferred tax asset valuation allowance (in thousands):


	Year Ended December 31,
	2021		2020		2019
Balance at beginning of period	$	68,746	$	51,522	$	53,156
Valuation allowance - (reversal) charge	(67,942)		17,224		(1,634)

Balance at end of period	$	804	$	68,746	$	51,522

Reconciliation of Total Amounts of Unrecognized Tax Benefits

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits (in thousands):


	Year Ended December 31,
	2021		2020		2019
Unrecognized tax benefit
Unrecognized tax benefit at the beginning of the period	$	1,714	$	1,435	$	1,062
Gross increases — tax positions in prior period	437		279		373
Unrecognized tax benefit at the end of the period	$	2,151	$	1,714	$	1,435

SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Schedule of Segment Information

The following tables present segment information (in thousands):


	For the Year Ended December 31,
	2021		2020		2019
Games
Revenue
Gaming operations	$	272,767	$	156,199	$	188,874
Gaming equipment and systems	103,844		44,006		90,919
Gaming other	118		96		3,326
Total revenues	376,729		200,301		283,119
Costs and expenses
Cost of revenues (1)
Gaming operations	21,663		15,192		18,043
Gaming equipment and systems	60,093		25,680		50,826
Gaming other	—		456		3,025
Cost of revenues	81,756		41,328		71,894
Operating expenses	70,150		63,789		61,522
Research and development	26,060		20,060		24,954
Depreciation	53,876		61,566		56,882
Amortization	42,866		59,926		57,491
Total costs and expenses	274,708		246,669		272,743
Operating income (loss)	$	102,021	$	(46,368)	$	10,376

(1) Exclusive of depreciation and amortization.


	For the Year Ended December 31,
	2021		2020		2019
FinTech
Revenues
Financial access services	$	178,019	$	112,035	$	164,741
Software and other	67,797		47,041		47,502
Hardware	37,840		24,297		37,865
Total revenues	283,656		183,373		250,108
Costs and expenses
Cost of revenues (1)
Financial access services	6,779		6,755		14,236
Software and other	4,129		3,029		3,964
Hardware	22,785		14,724		22,292
Cost of revenues	33,693		24,508		40,492
Operating expenses	118,750		88,757		100,662
Research and development	12,991		7,883		7,551
Depreciation	7,611		5,893		6,316
Amortization	15,121		15,379		11,446
Total costs and expenses	188,166		142,420		166,467
Operating income	$	95,490	$	40,953	$	83,641

(1) Exclusive of depreciation and amortization.


	For the Year Ended December 31,
	2021		2020		2019
Total Games and FinTech
Total revenues	$	660,385	$	383,674	$	533,227
Costs and expenses
Cost of revenues (1)	115,449		65,836		112,386
Operating expenses	188,900		152,546		162,184
Research and development	39,051		27,943		32,505
Depreciation	61,487		67,459		63,198
Amortization	57,987		75,305		68,937
Total costs and expenses	462,874		389,089		439,210
Operating income (loss)	$	197,511	$	(5,415)	$	94,017

(1) Exclusive of depreciation and amortization.


	At December 31,
	2021		2020
Total assets
Games	$	913,880	$	811,523
FinTech	721,770		665,656
Total assets	$	1,635,650	$	1,477,179

BUSINESS (Details)	12 Months Ended
BUSINESS (Details)	Dec. 31, 2021 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	2

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 302,009	$ 251,706
Restricted cash — current	1,616	542
Total	303,726	252,349	$ 296,610	$ 299,181
Cash and cash equivalents
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	302,009	251,706	289,870
Prepaid expenses and other current assets
Cash and Cash Equivalents [Line Items]
Restricted cash — current	1,616	542	6,639
Other assets
Cash and Cash Equivalents [Line Items]
Restricted cash — non-current	$ 101	$ 101	$ 101

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property, Equipment, Leased Assets, and Placement Fee and Development Agreements (Details)	12 Months Ended
	Dec. 31, 2021
Minimum
Property, Plant and Equipment [Line Items]
Estimated life	1 year
Development and Placement Fee Agreements
General term of the agreement	12 months
Maximum
Property, Plant and Equipment [Line Items]
Estimated life	5 years
Development and Placement Fee Agreements
General term of the agreement	83 months

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Goodwill and Other Intangible Assets (Details)	12 Months Ended
	Dec. 31, 2021
Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life	6 years

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Contract assets
Contract assets, current	$ 9,927	$ 9,240	$ 8,634
Contract assets, noncurrent	5,294	8,321	6,774
Total	15,221	17,561	15,408
(Decrease)/Increase	(2,340)	2,153
Contract liabilities
Contract liabilities, current	36,238	26,980	28,510
Contract liabilities, noncurrent	377	289	354
Total	36,615	27,269	$ 28,864
Increase/(Decrease)	9,346	(1,595)
Contract liability, revenue recognized	$ 21,300	$ 23,500

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Revenue Recognition (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Revenues	$ 660,385	$ 383,674	$ 533,227
Games
Disaggregation of Revenue [Line Items]
Revenues	376,729	200,301	283,119
Games \| Gaming Operations, Leased Equipment
Disaggregation of Revenue [Line Items]
Revenues	$ 189,800	116,100	143,200
Games \| Gaming Operations, Leased Equipment \| Minimum
Disaggregation of Revenue [Line Items]
Payment terms	30 days
Games \| Gaming Operations, Leased Equipment \| Maximum
Disaggregation of Revenue [Line Items]
Payment terms	90 days
Games \| Gaming Operations, Wide Area Progressive (WAP) Systems \| Minimum
Disaggregation of Revenue [Line Items]
Payment terms	30 days
Games \| Gaming Operations, Wide Area Progressive (WAP) Systems \| Maximum
Disaggregation of Revenue [Line Items]
Payment terms	90 days
Games \| Gaming equipment and systems
Disaggregation of Revenue [Line Items]
Revenues	$ 103,844	44,006	90,919
Games \| Gaming equipment and systems \| Minimum
Disaggregation of Revenue [Line Items]
Term of contract	30 days
Games \| Gaming equipment and systems \| Maximum
Disaggregation of Revenue [Line Items]
Payment terms	39 months
Term of contract	180 days
Games \| Gaming other
Disaggregation of Revenue [Line Items]
Revenues	$ 118	96	3,326
Games \| Gaming other \| Minimum
Disaggregation of Revenue [Line Items]
Term of contract	30 days
Games \| Gaming other \| Maximum
Disaggregation of Revenue [Line Items]
Term of contract	90 days
FinTech
Disaggregation of Revenue [Line Items]
Revenues	$ 283,656	183,373	250,108
FinTech \| Gaming equipment and systems \| Maximum
Disaggregation of Revenue [Line Items]
Payment terms	60 months
FinTech \| Software and other
Disaggregation of Revenue [Line Items]
Revenues	$ 67,797	$ 47,041	$ 47,502
FinTech \| Software and other \| Minimum
Disaggregation of Revenue [Line Items]
Payment terms	30 days
FinTech \| Software and other \| Maximum
Disaggregation of Revenue [Line Items]
Payment terms	90 days
FinTech \| Equipment Product \| Minimum
Disaggregation of Revenue [Line Items]
Payment terms	30 days
FinTech \| Equipment Product \| Maximum
Disaggregation of Revenue [Line Items]
Payment terms	90 days

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Advertising, Marketing and Promotional Costs, Research and Development Costs, and Employee Benefits Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Advertising, Marketing and Promotional Costs
Total advertising, marketing and promotional costs	$ 2,600	$ 1,300	$ 5,000
Research and development costs
Research and development	$ 39,051	27,943	32,505
Employee Benefits Plan
Maximum contribution by employees of pre-tax earnings	75.00%
Matching contribution made by the entity	$ 2,600	$ 600	$ 2,600

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Fair Values of Financial Instruments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Aug. 03, 2021	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Term of loans and receivables	12 months	12 months
Senior secured notes \| Credit Agreement, dated August 3, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Principal amount of debt			$ 600,000,000
Senior unsecured notes \| 2021 Unsecured Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Principal amount of debt				$ 400,000,000
Fair Value \| Level 2 \| Term loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 598,171,000	$ 729,138,000
Fair Value \| Level 2 \| Incremental term loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt		129,972,000
Fair Value \| Level 2 \| Senior unsecured notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	404,000,000	296,083,000
Outstanding Balance \| Level 2 \| Term loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	598,500,000	735,500,000
Outstanding Balance \| Level 2 \| Incremental term loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt		124,375,000
Outstanding Balance \| Level 2 \| Senior unsecured notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 400,000,000	$ 285,381,000

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Share-Based Compensation (Details)	12 Months Ended
	Dec. 31, 2021
Stock Options Granted
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years

LEASES - Narrative (Details) $ in Millions	Dec. 31, 2021 USD ($)
Lessee, Lease, Description [Line Items]
Cost of property and equipment	$ 249.0
Minimum
Lessee, Lease, Description [Line Items]
Renewal term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Renewal term	10 years

LEASES - Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease ROU assets	$ 12,692	$ 16,104
Current operating lease liabilities	5,663	5,649
Non-current operating lease liabilities	$ 11,869	$ 16,077
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets	Other assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accounts payable and accrued expenses	Accounts payable and accrued expenses
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other accrued expenses and liabilities	Other accrued expenses and liabilities

LEASES - Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Right-of-use assets obtained in exchange for lease obligations:
Operating lease	$ 1,362	$ 10,356	$ 16,533
Right-of-use asset obtained in exchange for operating lease liability existing			13,600
Operating lease ROU assets obtained In exchange, lease terminations			500
Right-of-use asset obtained in exchange for operating lease liability new			2,500
Long-term Debt
Lessee, Lease, Description [Line Items]
Long and short term operating leases	6,675	6,411	5,893
Short-term Debt
Lessee, Lease, Description [Line Items]
Long and short term operating leases	$ 1,622	$ 1,908	$ 1,799

LEASES - Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
LEASES - Lease Costs (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Weighted average remaining lease term, operating leases	3 years 6 months 7 days	4 years 1 month 28 days
Weighted average discount rate, operating leases	5.04%	5.16%
Operating lease cost	$ 5,474	$ 5,770	$ 4,907
Variable lease cost	1,267	1,682	1,619
Non-cash lease expense	$ 4,401	$ 4,880	$ 4,276

LEASES - Payments Due (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Leases, Operating [Abstract]
2022	$ 6,386
2023	5,001
2024	3,739
2025	2,971
2026	889
Thereafter	154
Total future minimum lease payments	19,140
Amount representing interest	(1,608)
Present value of future minimum lease payments	17,532
Current operating lease liabilities	(5,663)	$ (5,649)
Long-term lease obligations	$ 11,869	$ 16,077

LEASES - Sales-type Lease (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Net investment in sales-type leases — current	$ 1,331	$ 1,397
Net investment in sales-type leases — non-current	$ 0	$ 803

BUSINESS COMBINATIONS (Details) - USD ($) $ in Millions							1 Months Ended		12 Months Ended
BUSINESS COMBINATIONS (Details) - USD ($) $ in Millions	Dec. 24, 2021	Mar. 08, 2021	Apr. 01, 2020	Mar. 08, 2020	Dec. 24, 2019	Mar. 08, 2019	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Business combination, revenue target achievement period		2 years
Atrient
Business Acquisition [Line Items]
Business combination, contingent consideration, liability						$ 9.9				$ 9.9
Atrient \| FinTech
Business Acquisition [Line Items]
Payments to acquire businesses, gross				$ 10.0		$ 20.0			$ 10.0
Micro Gaming Technologies, Inc. \| FinTech
Business Acquisition [Line Items]
Payments to acquire businesses, gross	$ 5.0		$ 5.0		$ 15.0		$ 5.0	$ 5.0
Business combination, payment due period	2 years
Business combination, consideration transferred					$ 25.0

FUNDING AGREEMENTS (Details) - USD ($)	12 Months Ended
FUNDING AGREEMENTS (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Funding Agreements
Site-funded ATMs	$ 194,300,000	$ 125,300,000
Prefunded cash	3,000,000	2,600,000
Contract Cash Solutions Agreement \| Indemnification Guarantee
Funding Agreements
Cash usage fees incurred	4,000,000	3,100,000	$ 7,200,000
Outstanding balance	401,800,000	$ 340,300,000
Contract Cash Solutions Agreement, as amended \| Indemnification Guarantee
Funding Agreements
Maximum amount	$ 300,000,000
Renewal period	1 year
Non-renewal notice period	90 days

TRADE AND OTHER RECEIVABLES - Schedule of Trade and Other Receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contract assets	$ 15,221	$ 17,561	$ 15,408
Insurance settlement receivable	0	7,650
Other receivables	3,695	1,923
Net investment in sales-type leases	1,331	2,200
Total trade and other receivables, net	118,804	88,811
Non-current portion of receivables	(13,982)	(14,620)
Contract assets	(5,294)	(8,321)	$ (6,774)
Net investment in sales-type leases	0	(803)
Total trade and other receivables, current portion	104,822	74,191
Games
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade receivables, net	77,053	44,794
Non-current portion of receivables	(1,348)	(1,333)
FinTech
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade receivables, net	21,504	14,683
Non-current portion of receivables	$ (7,340)	$ (4,163)

TRADE AND OTHER RECEIVABLES - Summary of Allowance for Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning allowance for credit losses	$ (3,689)	$ (5,786)
Provision	(7,540)	(8,010)
Charge-offs and recoveries	6,068	10,107
Ending allowance for credit losses	$ (5,161)	$ (3,689)

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References + Details

INVENTORY (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Component parts, net of reserves of $2,422 and $1,262 at December 31, 2021 and December 31, 2020, respectively	$ 22,490	$ 21,560
Work-in-progress	554	182
Finished goods	6,189	6,000
Total inventory	29,233	27,742
Inventory valuation reserves	$ 2,422	$ 1,262

PREPAID EXPENSES AND OTHER ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Prepaid expenses and other current assets
Prepaid expenses	$ 14,389	$ 11,282
Deposits	7,709	4,133
Restricted cash	1,616	542
Other	3,585	1,391
Total prepaid expenses and other current assets	27,299	17,348
Other assets
Operating lease ROU assets	12,692	16,104
Prepaid expenses and deposits	4,789	4,952
Debt issuance costs of revolving credit facility	1,760	267
Other	418	673
Total other assets	$ 19,659	$ 21,996

PROPERTY AND EQUIPMENT - Schedule of Components of Property, Equipment and Leased Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Cost	$ 362,919	$ 328,535
Accumulated Depreciation	242,926	216,212
Net Book Value	$ 119,993	112,323
Minimum
Property, Plant and Equipment [Line Items]
Useful Life	1 year
Maximum
Property, Plant and Equipment [Line Items]
Useful Life	5 years
Rental pool - deployed
Property, Plant and Equipment [Line Items]
Cost	$ 248,958	216,775
Accumulated Depreciation	166,075	136,975
Net Book Value	$ 82,883	79,800
Rental pool - deployed \| Minimum
Property, Plant and Equipment [Line Items]
Useful Life	2 years
Rental pool - deployed \| Maximum
Property, Plant and Equipment [Line Items]
Useful Life	4 years
Rental pool - undeployed
Property, Plant and Equipment [Line Items]
Cost	$ 23,284	21,974
Accumulated Depreciation	18,285	16,680
Net Book Value	$ 4,999	5,294
Rental pool - undeployed \| Minimum
Property, Plant and Equipment [Line Items]
Useful Life	2 years
Rental pool - undeployed \| Maximum
Property, Plant and Equipment [Line Items]
Useful Life	4 years
Leasehold and building improvements
Property, Plant and Equipment [Line Items]
Cost	$ 12,598	11,352
Accumulated Depreciation	9,234	8,557
Net Book Value	3,364	2,795
Machinery, office, and other equipment
Property, Plant and Equipment [Line Items]
Cost	45,277	45,085
Accumulated Depreciation	28,075	32,053
Net Book Value	$ 17,202	13,032
Machinery, office, and other equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful Life	1 year
Machinery, office, and other equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful Life	5 years
FinTech \| Machinery, office, and other equipment
Property, Plant and Equipment [Line Items]
Cost	$ 32,802	33,349
Accumulated Depreciation	21,257	21,947
Net Book Value	$ 11,545	$ 11,402
FinTech \| Machinery, office, and other equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful Life	1 year
FinTech \| Machinery, office, and other equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful Life	5 years

PROPERTY AND EQUIPMENT - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Depreciation	$ 61,487	$ 67,459	$ 63,198

GOODWILL AND OTHER INTANGIBLE ASSETS - Goodwill Testing (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 682,663	$ 681,974	$ 681,635

GOODWILL AND OTHER INTANGIBLE ASSETS - Changes in Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Changes in the carrying amount of goodwill
Balance at the beginning of the period	$ 681,974	$ 681,635
Foreign translation adjustment	2	14
Acquisitions	687	325
Balance at the end of the period	682,663	681,974
Games
Changes in the carrying amount of goodwill
Balance at the beginning of the period	449,041	449,041
Foreign translation adjustment	0	0
Acquisitions	0	0
Balance at the end of the period	449,041	449,041
Financial Access Services
Changes in the carrying amount of goodwill
Balance at the beginning of the period	157,088	157,074
Foreign translation adjustment	2	14
Acquisitions	0	0
Balance at the end of the period	157,090	157,088
Kiosk Sales and Services
Changes in the carrying amount of goodwill
Balance at the beginning of the period	5,745	5,745
Foreign translation adjustment	0	0
Acquisitions	0	0
Balance at the end of the period	5,745	5,745
Central Credit Services
Changes in the carrying amount of goodwill
Balance at the beginning of the period	17,127	17,127
Foreign translation adjustment	0	0
Acquisitions	0	0
Balance at the end of the period	17,127	17,127
Compliance Sales and Services
Changes in the carrying amount of goodwill
Balance at the beginning of the period	11,578	11,578
Foreign translation adjustment	0	0
Acquisitions	687	0
Balance at the end of the period	12,265	11,578
Loyalty Sales and Services
Changes in the carrying amount of goodwill
Balance at the beginning of the period	41,395	41,070
Foreign translation adjustment	0	0
Acquisitions	0	325
Balance at the end of the period	$ 41,395	$ 41,395

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Other Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Cost	$ 724,931	$ 697,275
Accumulated Amortization	510,337	482,648
Net Book Value	214,594	214,627
Contract rights under placement fee agreements
Finite-Lived Intangible Assets [Line Items]
Cost	58,837	60,561
Accumulated Amortization	4,237	28,108
Net Book Value	$ 54,600	32,453
Contract rights under placement fee agreements \| Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life	3 years
Contract rights under placement fee agreements \| Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life	7 years
Customer contracts
Finite-Lived Intangible Assets [Line Items]
Cost	$ 72,138	71,975
Accumulated Amortization	58,758	54,407
Net Book Value	$ 13,380	17,568
Customer contracts \| Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life	3 years
Customer contracts \| Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life	14 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Cost	$ 231,100	231,100
Accumulated Amortization	147,515	126,549
Net Book Value	$ 83,585	104,551
Customer relationships \| Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life	8 years
Customer relationships \| Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life	12 years
Developed technology and software
Finite-Lived Intangible Assets [Line Items]
Cost	$ 342,309	313,957
Accumulated Amortization	280,412	255,771
Net Book Value	$ 61,897	58,186
Developed technology and software \| Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life	1 year
Developed technology and software \| Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life	6 years
Patents, trademarks, and other
Finite-Lived Intangible Assets [Line Items]
Cost	$ 20,547	19,682
Accumulated Amortization	19,415	17,813
Net Book Value	$ 1,132	$ 1,869
Patents, trademarks, and other \| Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life	2 years
Patents, trademarks, and other \| Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life	18 years

GOODWILL AND OTHER INTANGIBLE ASSETS - Other Intangible Assets, Narrative (Details) - USD ($)	1 Months Ended	12 Months Ended
	Oct. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Amortization		$ 57,987,000	$ 75,305,000	$ 68,937,000
Placement fees and placement fee agreements	$ 28,900,000	31,500,000	3,100,000	17,700,000
Imputed interest in placement fees		0	0	600,000
Developed technology and software
Finite-Lived Intangible Assets [Line Items]
Development costs capitalized		30,200,000	21,200,000	43,700,000
Software Development
Finite-Lived Intangible Assets [Line Items]
Impairment of intangible assets		$ 0	6,300,000	$ 0
Software Development \| Games
Finite-Lived Intangible Assets [Line Items]
Impairment of intangible assets			6,000,000
Software Development \| FinTech
Finite-Lived Intangible Assets [Line Items]
Impairment of intangible assets			$ 300,000

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Anticipated Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Net Book Value	$ 214,594	$ 214,627
Finite-Lived Intangible Assets, Placed into Service
Finite-Lived Intangible Assets [Line Items]
2022	57,122
2023	38,104
2024	28,402
2025	26,342
2026	25,712
Thereafter	11,327
Net Book Value	187,009
Finite Lived Intangible Assets Not Yet Placed Into Service
Finite-Lived Intangible Assets [Line Items]
Net Book Value	$ 27,600

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Customer commissions payable	$ 57,515	$ 39,028
Contract liabilities	36,238	26,980	$ 28,510
Payroll and related expenses	29,125	13,357
Accounts payable - trade	25,453	15,503
Accrued interest	9,273	1,068
Operating lease liabilities	5,663	5,649
Financial access processing and related expenses	3,619	1,109
Accrued income taxes	2,756	1,329
Contingent consideration and acquisition-related liabilities	0	24,674
Litigation accrual	0	12,727
Other	4,291	3,605
Total accounts payable and accrued expenses	$ 173,933	$ 145,029

LONG-TERM DEBT - Summary of Outstanding Indebtedness (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Aug. 03, 2021	Jul. 15, 2021	Dec. 31, 2020	Apr. 21, 2020	Dec. 31, 2018	May 09, 2017
Debt Instrument [Line Items]
Total debt	$ 998,500,000			$ 1,145,256,000
Debt issuance costs and discount	(16,975,000)			(16,003,000)
Total debt after debt issuance costs and discount	981,525,000			1,129,253,000
Current portion of long-term debt	(6,000,000)			(1,250,000)
Long-term debt, less current portion	$ 975,525,000			1,128,003,000
Senior secured notes \| Credit Agreement, dated August 3, 2021
Debt Instrument [Line Items]
Principal amount of debt		$ 600,000,000
Senior secured notes \| Credit Agreement, dated August 3, 2021 \| LIBOR
Debt Instrument [Line Items]
Basis spread	2.50%
Senior secured notes \| New Credit Agreement, dated May 9, 2017
Debt Instrument [Line Items]
Principal amount of debt			$ 820,000,000
Senior secured notes \| New Credit Agreement, dated May 9, 2017 \| LIBOR
Debt Instrument [Line Items]
Basis spread	2.75%
Revolving credit facility \| Credit Agreement, dated August 3, 2021
Debt Instrument [Line Items]
Total debt	$ 0			0
Principal amount of debt		$ 125,000,000
Revolving credit facility \| Credit Agreement, dated August 3, 2021 \| LIBOR
Debt Instrument [Line Items]
Basis spread	2.50%
Senior secured term loan facility \| Credit Agreement, dated May 9, 2017
Debt Instrument [Line Items]
Principal amount of debt							$ 820,000,000
Incremental term loan \| Incremental Term Loan Credit Agreement Dated Twenty One April Two Thousand Twenty
Debt Instrument [Line Items]
Total debt	$ 0		123,800,000	124,375,000
Principal amount of debt			125,000,000		$ 125,000,000
Incremental term loan \| Incremental Term Loan Credit Agreement Dated Twenty One April Two Thousand Twenty \| LIBOR
Debt Instrument [Line Items]
Basis spread	10.50%
Senior secured notes
Debt Instrument [Line Items]
Total debt	$ 598,500,000			859,875,000
Senior secured notes \| Senior secured notes \| Credit Agreement, dated August 3, 2021
Debt Instrument [Line Items]
Total debt	598,500,000			0
Senior secured notes \| Senior secured notes \| New Credit Agreement, dated May 9, 2017
Debt Instrument [Line Items]
Total debt	0			735,500,000
Unsecured Notes \| 2021 Unsecured Notes
Debt Instrument [Line Items]
Total debt	$ 400,000,000			0
Principal amount of debt						$ 400,000,000
Interest rate	5.00%
Unsecured Notes \| 2017 Unsecured Notes
Debt Instrument [Line Items]
Total debt	$ 0		285,400,000	$ 285,381,000
Principal amount of debt			$ 375,000,000			$ 375,000,000
Interest rate	7.50%		7.50%

LONG-TERM DEBT - Narrative (Details)			1 Months Ended	7 Months Ended	12 Months Ended
LONG-TERM DEBT - Narrative (Details)	Aug. 03, 2021 USD ($)	Jul. 15, 2021 USD ($)	Aug. 03, 2021 USD ($)	Aug. 03, 2021 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Apr. 21, 2020 USD ($)
Debt Instrument [Line Items]
Total debt					$ 998,500,000	$ 1,145,256,000
Refinancing and repayment fees					40,600,000
Payment for debt extinguishment or debt prepayment cost					20,800,000
Debt issuance costs					19,800,000
Loss on extinguishment of debt					34,389,000	7,457,000	$ 179,000
Unamortized debt issuance write-off					$ 13,600,000
New Credit Facilities
Debt Instrument [Line Items]
Debt issuance costs	$ 13,900,000		$ 13,900,000	$ 13,900,000
Debt issuance discount	$ 1,500,000		1,500,000	1,500,000
New Credit Facilities \| Eurodollar
Debt Instrument [Line Items]
Basis spread	0.50%
New Credit Facilities \| LIBOR
Debt Instrument [Line Items]
Basis spread	2.50%
New Credit Facilities \| Base Rate
Debt Instrument [Line Items]
Basis spread	1.50%
New Credit Agreement, dated May 9, 2017
Debt Instrument [Line Items]
Leverage ratio maximum					4.25
Senior Unsecured Notes Due 2029
Debt Instrument [Line Items]
Trustee percentage of principle amount holdings					0.30
Senior Unsecured Notes Due 2029 \| Senior unsecured notes
Debt Instrument [Line Items]
Principal amount of debt		$ 400,000,000
Debt issuance costs		$ 5,900,000
Interest rate		5.00%
Redemption price percentage		100.00%
Maximum percentage of principal amount available for redemption		0.40
Redemption using proceeds from equity issuance, price, percentage		1.0500
Redemption price under change of control, percentage		1.01
Prior Incremental Term Loan
Debt Instrument [Line Items]
Weighted average interest rate, annual rate					4.69%
Senior secured notes \| Credit Agreement, dated August 3, 2021
Debt Instrument [Line Items]
Term of facility	7 years
Principal amount of debt	$ 600,000,000		$ 600,000,000	$ 600,000,000
Percentage of par amount issued	0.9975		0.9975	0.9975
Senior secured notes \| Credit Agreement, dated August 3, 2021 \| LIBOR
Debt Instrument [Line Items]
Basis spread					2.50%
Senior secured notes \| New Credit Agreement, dated May 9, 2017
Debt Instrument [Line Items]
Principal amount of debt		$ 820,000,000
Weighted average interest rate during period					3.00%
Weighted average interest rate, annual rate			3.54%
Senior secured notes \| New Credit Agreement, dated May 9, 2017 \| Jeffries Finance LLC
Debt Instrument [Line Items]
Total debt		735,500,000
Senior secured notes \| New Credit Agreement, dated May 9, 2017 \| LIBOR
Debt Instrument [Line Items]
Basis spread					2.75%
Revolving credit facility \| Credit Agreement, dated August 3, 2021
Debt Instrument [Line Items]
Principal amount of debt	$ 125,000,000		$ 125,000,000	$ 125,000,000
Borrowing capacity	$ 125,000,000		$ 125,000,000	$ 125,000,000
Periodic payment, percentage of principal					0.0025
Period for prepayment premium from closing date					6 months
Prepayment penalty, percentage of principal amount repaid					1.00%
Total debt					$ 0	0
Revolving credit facility \| Credit Agreement, dated August 3, 2021 \| LIBOR
Debt Instrument [Line Items]
Basis spread					2.50%
Incremental term loan \| Incremental Term Loan Credit Agreement Dated Twenty One April Two Thousand Twenty
Debt Instrument [Line Items]
Principal amount of debt		125,000,000						$ 125,000,000
Total debt		$ 123,800,000			$ 0	$ 124,375,000
Weighted average interest rate, annual rate				11.50%
Incremental term loan \| Incremental Term Loan Credit Agreement Dated Twenty One April Two Thousand Twenty \| LIBOR
Debt Instrument [Line Items]
Basis spread					10.50%

LONG-TERM DEBT - Maturities of Borrowings (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Maturities of borrowings
2022	$ 6,000
2023	6,000
2024	6,000
2025	6,000
2026	6,000
Thereafter	968,500
Total	$ 998,500	$ 1,145,256

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	12 Months Ended
	Dec. 31, 2019	Mar. 31, 2021	Dec. 31, 2021
Litigation Settlement Awards
Litigation accrued			$ 14.0
Loss expected to be recovered			$ 7.7
Insurance Settlement
Litigation Settlement Awards
Litigation accrued		$ 4.4
Proceeds from insurance settlement, operating activities		1.9
Proceeds from insurance settlement		$ 9.6
Recovery of direct costs	$ 6.3

SHAREHOLDERS' EQUITY (Details) $ in Thousands	1 Months Ended	12 Months Ended
SHAREHOLDERS' EQUITY (Details) $ in Thousands	Dec. 31, 2019 USD ($) shares	Dec. 31, 2021 USD ($) vote shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2019 USD ($)	Feb. 28, 2020 USD ($)
Class of Stock [Line Items]
Stock repurchased during period (in shares)		0
Convertible preferred stock authorized (in shares)		50,000,000	50,000,000
Convertible preferred stock outstanding (in shares)		0	0
Number of votes for a share of common stock \| vote		1
Common stock issued (in shares)		116,996,348	111,872,439
Aggregate purchase price of shares repurchased or withheld from restricted stock awards \| $		$ 9,354	$ 1,288	$ 1,060
Stock issued during period, value, new issues \| $				122,376
Shelf Registration
Class of Stock [Line Items]
Issuance of common stock in public offering, net (in shares)	11,500,000
Stock issued during period, value, new issues \| $	$ 122,400
Treasury Stock
Class of Stock [Line Items]
Shares withheld from restricted stock awards (in shares)		493,662	193,809
Aggregate purchase price of shares repurchased or withheld from restricted stock awards \| $		$ 9,351	$ 1,289	$ 1,060
February 2020 Stock Repurchase Program
Class of Stock [Line Items]
Stock repurchase program, authorized amount \| $					$ 10,000

WEIGHTED AVERAGE SHARES OF COMMON STOCK (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Weighted average shares
Weighted average number of common shares outstanding - basic (in shares)	89,284,000	85,379,000	72,376,000
Potential dilution of equity awards (in shares)	10,683,000	0	6,859,000
Weighted average number of common shares outstanding - diluted (in shares)	99,967,000	85,379,000	79,235,000
Anti-dilutive equity awards excluded from computation of earnings per share (in shares)	0	3,300,000	500,000

SHARE-BASED COMPENSATION - Summary of Award Activity (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
2014 Plan and 2012 Plan
Shares Outstanding
Number of shares available for grant (in shares)	5,100
Stock Options Granted
Number of Options
Outstanding, beginning of period (in shares)	10,261
Granted (in shares)	0
Exercised (in shares)	(3,180)
Canceled or forfeited (in shares)	(8)
Outstanding, end of period (in shares)	7,073	10,261
Restricted Stock Units Granted
Shares Outstanding
Outstanding, beginning of period (in shares)	4,250
Granted (in shares)	968	2,200	2,000
Vested (in shares)	(1,566)	(900)	(300)
Canceled or forfeited (in shares)	(112)
Outstanding, end of period (in shares)	3,540	4,250

SHARE-BASED COMPENSATION - Stock Options, Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Stock options
Proceeds from exercise of stock options	$ 18,251	$ 6,226	$ 15,704
Time Based Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Expiration period	10 years
Stock options
Granted (in shares)	0	0	0
Market Performance Based Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Expiration period	10 years
Vesting price hurdle, percent of premium to closing stock price on grant date	25.00%
Number of consecutive trading days	30 days
Stock options
Granted (in shares)	0	0	0
Stock Options Granted
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
Stock options
Total intrinsic value of options exercised	$ 46,500	$ 6,700	$ 9,100
Proceeds from exercise of stock options	$ 18,200	6,200	15,700
Unrecognized compensation expense		$ 300	$ 1,400
Weighted-average period for recognition of unrecognized compensation expense		2 months 12 days	1 year
Non-cash compensation expense		$ 1,400	$ 2,400
Tranche 1 \| Time Based Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%
Tranche 1 \| Market Performance Based Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%
Tranche 2 \| Time Based Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%
Tranche 2 \| Market Performance Based Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%
Tranche 3 \| Time Based Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%
Tranche 3 \| Market Performance Based Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%
Tranche 4 \| Time Based Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%
Tranche 4 \| Market Performance Based Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%

SHARE-BASED COMPENSATION - Stock Option Activity (Details) - Stock Options Granted - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Number of Options
Outstanding, beginning of period (in shares)	10,261
Granted (in shares)	0
Exercised (in shares)	(3,180)
Canceled or forfeited (in shares)	(8)
Outstanding, end of period (in shares)	7,073	10,261
Vested and expected to vest (in shares)	7,073
Exercisable (in shares)	7,068
Weighted Average Exercise Price
Outstanding (in dollars per share)	$ 5.18
Granted (in dollars per share)
Exercised options (in dollars per share)	5.74
Canceled or forfeited (in dollars per share)	5.21
Outstanding (in dollars per share)	4.93	$ 5.18
Vested and expected to vest (in dollars per share)	4.93
Exercisable (in dollars per share)	$ 4.93
Weighted Average Life Remaining
Outstanding	3 years 9 months 18 days	4 years 4 months 24 days
Vested and expected to vest	3 years 9 months 18 days
Exercisable	3 years 9 months 18 days
Aggregate Intrinsic Value
Outstanding	$ 116,155	$ 88,550
Vested and expected to vest	116,148
Exercisable	$ 116,088

SHARE-BASED COMPENSATION - Stock Options by Exercise Price (Details) shares in Thousands	12 Months Ended
	Dec. 31, 2021 $ / shares shares
Options Outstanding
Number Outstanding (in shares) \| shares	7,073
Options Exercisable
Number Exercisable (in shares) \| shares	7,068
$1.46 - $1.46
Range of Exercise Prices
Low (in dollars per share)	$ 1.46
High (in dollars per share)	$ 1.46
Options Outstanding
Number Outstanding (in shares) \| shares	1,095
Weighted Average Remaining Contract Life	4 years 4 months 24 days
Weighted Average Exercise Prices (in dollars per share)	$ 1.46
Options Exercisable
Number Exercisable (in shares) \| shares	1,095
Weighted Average Exercise Price (in dollars per share)	$ 1.46
$1.57 - $2.78
Range of Exercise Prices
Low (in dollars per share)	1.57
High (in dollars per share)	$ 2.78
Options Outstanding
Number Outstanding (in shares) \| shares	820
Weighted Average Remaining Contract Life	4 years 3 months 18 days
Weighted Average Exercise Prices (in dollars per share)	$ 2.54
Options Exercisable
Number Exercisable (in shares) \| shares	820
Weighted Average Exercise Price (in dollars per share)	$ 2.54
$3.29 - $3.29
Range of Exercise Prices
Low (in dollars per share)	3.29
High (in dollars per share)	$ 3.29
Options Outstanding
Number Outstanding (in shares) \| shares	2,092
Weighted Average Remaining Contract Life	5 years 2 months 12 days
Weighted Average Exercise Prices (in dollars per share)	$ 3.29
Options Exercisable
Number Exercisable (in shares) \| shares	2,092
Weighted Average Exercise Price (in dollars per share)	$ 3.29
$3.41 - $6.59
Range of Exercise Prices
Low (in dollars per share)	5.58
High (in dollars per share)	$ 7.09
Options Outstanding
Number Outstanding (in shares) \| shares	824
Weighted Average Remaining Contract Life	2 years 3 months 18 days
Weighted Average Exercise Prices (in dollars per share)	$ 6.68
Options Exercisable
Number Exercisable (in shares) \| shares	824
Weighted Average Exercise Price (in dollars per share)	$ 6.68
$6.90 - $7.61
Range of Exercise Prices
Low (in dollars per share)	7.10
High (in dollars per share)	$ 7.61
Options Outstanding
Number Outstanding (in shares) \| shares	245
Weighted Average Remaining Contract Life	1 year 4 months 24 days
Weighted Average Exercise Prices (in dollars per share)	$ 7.45
Options Exercisable
Number Exercisable (in shares) \| shares	245
Weighted Average Exercise Price (in dollars per share)	$ 7.45
$7.74 - $7.74
Range of Exercise Prices
Low (in dollars per share)	7.74
High (in dollars per share)	$ 7.74
Options Outstanding
Number Outstanding (in shares) \| shares	694
Weighted Average Remaining Contract Life	3 years 3 months 18 days
Weighted Average Exercise Prices (in dollars per share)	$ 7.74
Options Exercisable
Number Exercisable (in shares) \| shares	694
Weighted Average Exercise Price (in dollars per share)	$ 7.74
$7.88 - $7.88
Range of Exercise Prices
Low (in dollars per share)	7.88
High (in dollars per share)	$ 7.88
Options Outstanding
Number Outstanding (in shares) \| shares	20
Weighted Average Remaining Contract Life	6 years 7 months 6 days
Weighted Average Exercise Prices (in dollars per share)	$ 7.88
Options Exercisable
Number Exercisable (in shares) \| shares	15
Weighted Average Exercise Price (in dollars per share)	$ 7.88
$8.32 - $8.32
Range of Exercise Prices
Low (in dollars per share)	8.32
High (in dollars per share)	$ 8.32
Options Outstanding
Number Outstanding (in shares) \| shares	25
Weighted Average Remaining Contract Life	5 years 9 months 18 days
Weighted Average Exercise Prices (in dollars per share)	$ 8.32
Options Exercisable
Number Exercisable (in shares) \| shares	25
Weighted Average Exercise Price (in dollars per share)	$ 8.32
$8.92 - $8.92
Range of Exercise Prices
Low (in dollars per share)	8.92
High (in dollars per share)	$ 8.92
Options Outstanding
Number Outstanding (in shares) \| shares	1,250
Weighted Average Remaining Contract Life	2 years 1 month 6 days
Weighted Average Exercise Prices (in dollars per share)	$ 8.92
Options Exercisable
Number Exercisable (in shares) \| shares	1,250
Weighted Average Exercise Price (in dollars per share)	$ 8.92
$9.74 - $9.74
Range of Exercise Prices
Low (in dollars per share)	9.74
High (in dollars per share)	$ 9.74
Options Outstanding
Number Outstanding (in shares) \| shares	8
Weighted Average Remaining Contract Life	2 years
Weighted Average Exercise Prices (in dollars per share)	$ 9.74
Options Exercisable
Number Exercisable (in shares) \| shares	8
Weighted Average Exercise Price (in dollars per share)	$ 9.74

SHARE-BASED COMPENSATION - Restricted Stock Units, Narrative (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restricted Stock Units (RSU)'s, Time-Based \| Tranche 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		33.00%
Vesting period		3 years
Restricted Stock Units (RSU)'s, Time-Based \| Tranche 1 \| Board of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Restricted Stock Units (RSU)'s, Time-Based \| Tranche 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		33.00%
Vesting period		1 year
Restricted Stock Units (RSU)'s, Time-Based \| Tranche 2 \| Board of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Restricted Stock Units (RSU)'s, Time-Based \| Tranche 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		33.00%
Vesting period		2 years
Restricted Stock Units (RSU)'s, Time-Based \| Tranche 3 \| Board of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	10 years
Restricted Stock Units (RSU)'s, Time-Based \| Tranche 4 \| Board of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	6 months
Restricted Stock Units (RSUs), Performance-Based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Restricted Stock Units (RSUs), Performance-Based \| Tranche 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	100.00%	100.00%	100.00%
Restricted Stock Units Granted
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	968	2,200	2,000
Vested (in shares)	1,566	900	300
Unrecognized compensation expense	$ 23.3	$ 15.3	$ 14.1
Weighted-average period for recognition of unrecognized compensation expense	1 year 4 months 24 days	1 year 9 months 18 days	2 years 6 months
Non-cash compensation expense	$ 20.6	$ 11.6	$ 5.7
Granted (in dollars per share)	$ 17.70	$ 6.08	$ 10.16
Restricted Stock Units Granted \| Key Members of Management
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			6 months
Compensation expense			$ 1.7

SHARE-BASED COMPENSATION - Restricted Stock Units Activity (Details) - Restricted Stock Units Granted - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Shares Outstanding
Outstanding, beginning of period (in shares)	4,250
Granted (in shares)	968	2,200	2,000
Vested (in shares)	(1,566)	(900)	(300)
Forfeited (in shares)	(112)
Outstanding, end of period (in shares)	3,540	4,250
Vested and expected to vest (in shares)	3,087
Weighted Average Grant Date Fair Value
Outstanding (in dollars per share)	$ 7.75
Granted (in dollars per share)	17.70	$ 6.08	$ 10.16
Vested (in dollars per share)	7.60
Forfeited (in dollars per share)	9.53
Outstanding (in dollars per share)	10.49	$ 7.75
Vested and expected to vest (in dollars per share)	$ 10.69
Weighted Average Life Remaining (Years)
Outstanding, December 31, 2021	1 year	1 year 2 months 12 days
Vested and expected to vest after, December 31, 2021	1 year
Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2021	$ 75,532	$ 58,680
Vested and expected to vest after, December 31, 2021	$ 65,907

INCOME TAXES - Consolidated Loss Before Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Consolidated income (loss) before tax
Domestic	$ 100,232	$ (87,832)	$ 11,709
Foreign	793	396	4,285
Income (loss) before income tax	$ 101,025	$ (87,436)	$ 15,994

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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INCOME TAXES - Income Tax (Benefit) Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income tax (benefit) provision
Domestic	$ (51,923)	$ (5,711)	$ (1,238)
Foreign	23	(45)	715
Total income tax benefit	(51,900)	(5,756)	(523)
Income tax (benefit) provision
Current	177	823	1,071
Deferred	(52,077)	(6,579)	(1,594)
Total income tax benefit	$ (51,900)	$ (5,756)	$ (523)

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

INCOME TAXES - Federal Statutory Rate and Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income tax reconciliation
Federal statutory rate	21.00%	21.00%	21.00%
Foreign provision	0.00%	(0.20%)	2.50%
State/province income tax	3.50%	4.20%	(1.60%)
Non-deductible compensation cost	(8.10%)	0.50%	(5.30%)
Adjustments to carrying values	1.70%	0.20%	6.80%
Research and development credit	(2.30%)	1.00%	(18.80%)
Valuation allowance	(67.20%)	(19.70%)	(11.90%)
Global intangible low-taxed income	0.10%	0.00%	2.70%
Non-deductible expenses - other	0.10%	(0.10%)	1.20%
Other	(0.20%)	(0.30%)	0.10%
Effective tax rate	(51.40%)	6.60%	(3.30%)

INCOME TAXES - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Deferred income tax assets related to:
Net operating losses	$ 84,619	$ 109,872	$ 97,613
Stock compensation expense	6,210	7,293	6,802
Accounts receivable allowances	1,275	912	1,415
Accrued and prepaid expenses	11,284	8,977	7,869
Other	913	2,098	1,880
Tax credits	14,688	12,377	12,116
Interest limitation	0	0	3,738
Valuation allowance	(804)	(68,746)	(51,522)	$ (53,156)
Total deferred income tax assets	118,185	72,783	79,911
Deferred income tax liabilities related to:
Property and equipment	23,610	18,699	23,012
Other intangible assets	59,156	67,996	76,279
Long-term debt	7	1,482	2,680
Other	3,291	4,562	4,341
Total deferred income tax liabilities	86,064	92,739	106,312
Deferred income taxes, net	$ 32,121
Deferred income taxes, net		$ (19,956)	$ (26,401)

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Examination [Line Items]
Net operating losses	$ 84,619	$ 109,872	$ 97,613
Valuation allowance	804	68,746	51,522	$ 53,156
Unrecognized tax benefits	2,151	1,714	$ 1,435	$ 1,062
Undistributed earnings of foreign subsidiaries	14,400
Tax Year 2018 And 2019
Income Tax Examination [Line Items]
Accumulated net operating losses	94,800
Net operating losses	19,900
Federal
Income Tax Examination [Line Items]
Accumulated net operating losses	361,000
Net operating losses	75,800
Research and development credit carryforward	14,700
Valuation allowance		68,700
Decrease in valuation allowance	67,900
State
Income Tax Examination [Line Items]
Net operating losses	8,800
Valuation allowance related to net operating loss carry forwards	$ 700
Valuation allowance		68,700
Decrease in valuation allowance		$ 67,900

INCOME TAXES - Reconciliation of Deferred Tax Asset Valuation Allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Deferred Tax Assets, Valuation Allowance [Roll Forward]
Balance at beginning of period	$ 68,746	$ 51,522	$ 53,156
Valuation allowance - (reversal) charge	(67,942)	17,224	(1,634)
Balance at end of period	$ 804	$ 68,746	$ 51,522

INCOME TAXES - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Unrecognized tax benefit
Unrecognized tax benefit at the beginning of the period	$ 1,714	$ 1,435	$ 1,062
Gross increases — tax positions in prior period	437	279	373
Unrecognized tax benefit at the end of the period	$ 2,151	$ 1,714	$ 1,435

SEGMENT INFORMATION - Revenues, Operating Income, and Assets (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

$ 660,385

$ 383,674

$ 533,227

115,449

65,836

112,386

188,900

152,546

162,184

39,051

27,943

32,505

61,487

67,459

63,198

57,987

75,305

68,937

462,874

389,089

439,210

197,511

(5,415)

94,017

Total assets

1,635,650

1,477,179

Games

376,729

200,301

283,119

^[1]

81,756

41,328

71,894

70,150

63,789

61,522

26,060

20,060

24,954

53,876

61,566

56,882

42,866

59,926

57,491

274,708

246,669

272,743

102,021

(46,368)

10,376

Total assets

913,880

811,523

FinTech

283,656

183,373

250,108

^[1]

33,693

24,508

40,492

118,750

88,757

100,662

12,991

7,883

7,551

7,611

5,893

6,316

15,121

15,379

11,446

188,166

142,420

166,467

Gaming operations | Games

95,490

40,953

83,641

Total assets

721,770

665,656

272,767

156,199

188,874

Gaming equipment and systems | Games

^[1]

21,663

15,192

18,043

103,844

44,006

90,919

^[1]

60,093

25,680

50,826

Gaming other | Games

118

96

3,326

Financial access services | FinTech

^[1]

0

456

3,025

178,019

112,035

164,741

Software and other | FinTech

^[1]

6,779

6,755

14,236

67,797

47,041

47,502

^[1]

4,129

3,029

3,964

Hardware | FinTech

37,840

24,297

37,865