EVERI HOLDINGS INC., 10-Q filed on 11/12/2024
Quarterly Report
v3.24.3
Cover - shares
 9 Months Ended
Sep. 30, 2024
Nov. 08, 2024
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Sep. 30, 2024  
Document Transition Report false  
Entity File Number 001-32622  
Entity Registrant Name EVERI HOLDINGS INC.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 20-0723270  
Entity Address, Address Line One 7250 S. Tenaya Way  
Entity Address, Address Line Two Suite 100  
Entity Address, City or Town Las Vegas  
Entity Address, State or Province NV  
Entity Address, Postal Zip Code 89113  
City Area Code 800  
Local Phone Number 833-7110  
Title of 12(b) Security Common Stock, $0.001 par value  
Trading Symbol EVRI  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   86,246,581
Entity Central Index Key 0001318568  
Amendment Flag false  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2024  
Document Fiscal Period Focus Q3  
v3.24.3
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Total revenues $ 187,851 $ 206,600 $ 568,387 $ 615,789
Costs and expenses        
Operating expenses 72,745 61,014 212,726 181,596
Research and development 18,457 16,120 57,753 48,853
Depreciation 28,199 19,902 67,877 58,373
Amortization 16,096 15,202 47,775 43,739
Total costs and expenses 176,422 154,153 502,145 458,024
Operating income 11,429 52,447 66,242 157,765
Other expenses        
Interest expense, net of interest income 18,623 19,925 56,060 58,031
Total other expenses 18,623 19,925 56,060 58,031
(Loss) income before income tax (7,194) 32,522 10,182 99,734
Income tax (benefit) provision (4,620) 5,879 (971) 17,629
Net (loss) income (2,574) 26,643 11,153 82,105
Foreign currency translation gain (loss) 1,738 (1,602) 722 (1,670)
Comprehensive (loss) income $ (836) $ 25,041 $ 11,875 $ 80,435
(Loss) earnings per share        
Basic (in dollars per share) $ (0.03) $ 0.31 $ 0.13 $ 0.93
Diluted (in dollars per share) $ (0.03) $ 0.29 $ 0.13 $ 0.88
Weighted average common shares outstanding        
Basic (in shares) 85,525 87,221 84,609 87,925
Diluted (in shares) 85,525 91,245 87,714 93,162
Games        
Revenues        
Total revenues $ 91,546 $ 111,538 $ 286,339 $ 332,044
Costs and expenses        
Total cost of revenues(3) [1] 27,271 28,602 75,948 84,186
Operating expenses 30,091 22,805 88,060 64,574
Research and development 12,199 10,065 36,673 31,890
Depreciation 25,454 17,492 59,756 50,997
Amortization 11,914 11,153 35,207 32,304
Total costs and expenses 106,929 90,117 295,644 263,951
Operating income (15,383) 21,421 (9,305) 68,093
Games | Gaming operations        
Revenues        
Total revenues 67,158 78,400 211,716 231,490
Costs and expenses        
Total cost of revenues(3) [1] 12,674 10,363 32,025 25,557
Games | Gaming equipment and systems        
Revenues        
Total revenues 24,388 33,138 74,623 100,554
Costs and expenses        
Total cost of revenues(3) [1] 14,597 18,239 43,923 58,629
FinTech        
Revenues        
Total revenues 96,305 95,062 282,048 283,745
Costs and expenses        
Total cost of revenues(3) [1] 13,654 13,313 40,066 41,277
Operating expenses 42,654 38,209 124,666 117,022
Research and development 6,258 6,055 21,080 16,963
Depreciation 2,745 2,410 8,121 7,376
Amortization 4,182 4,049 12,568 11,435
Total costs and expenses 69,493 64,036 206,501 194,073
Operating income 26,812 31,026 75,547 89,672
FinTech | Financial access services        
Revenues        
Total revenues 58,494 57,158 173,446 169,032
Costs and expenses        
Total cost of revenues(3) [1] 2,532 2,925 7,694 8,521
FinTech | Software and other        
Revenues        
Total revenues 26,958 24,838 77,484 73,048
Costs and expenses        
Total cost of revenues(3) [1] 3,586 1,484 10,203 4,830
FinTech | Hardware        
Revenues        
Total revenues 10,853 13,066 31,118 41,665
Costs and expenses        
Total cost of revenues(3) [1] $ 7,536 $ 8,904 $ 22,169 $ 27,926
[1] Exclusive of depreciation and amortization.
v3.24.3
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 595,955 $ 267,215
Settlement receivables 81,921 441,852
Trade and other receivables, net of allowances for credit losses of $5,367 and $5,210 at September 30, 2024 and December 31, 2023, respectively 102,030 107,933
Inventory 74,922 70,624
Prepaid expenses and other current assets 53,135 43,906
Total current assets 907,963 931,530
Non-current assets    
Property and equipment, net 163,631 152,704
Goodwill 738,010 737,804
Other intangible assets, net 222,067 234,138
Other receivables 37,202 29,015
Deferred tax assets, net 595 598
Other assets 35,103 38,081
Total non-current assets 1,196,608 1,192,340
Total assets 2,104,571 2,123,870
Current liabilities    
Settlement liabilities 635,491 662,967
Accounts payable and accrued expenses 215,415 215,530
Current portion of long-term debt 4,500 6,000
Total current liabilities 855,406 884,497
Non-current liabilities    
Deferred tax liabilities, net 5,112 13,762
Long-term debt, less current portion 965,817 968,465
Other accrued expenses and liabilities 26,617 31,004
Total non-current liabilities 997,546 1,013,231
Total liabilities 1,852,952 1,897,728
Commitments and contingencies (Note 12)
Stockholders’ equity    
Convertible preferred stock, $0.001 par value, 50,000 shares authorized and no shares outstanding at September 30, 2024 and December 31, 2023, respectively 0 0
Common stock, $0.001 par value, 500,000 shares authorized and 125,486 and 86,035 shares issued and outstanding at September 30, 2024, respectively, and 123,179 and 83,738 shares issued and outstanding at December 31, 2023, respectively 126 123
Additional paid-in capital 574,641 560,945
Retained earnings 73,884 62,731
Accumulated other comprehensive loss (2,745) (3,467)
Treasury stock, at cost, 39,451 and 39,441 shares at September 30, 2024 and December 31, 2023, respectively (394,287) (394,190)
Total stockholders’ equity 251,619 226,142
Total liabilities and stockholders’ equity $ 2,104,571 $ 2,123,870
v3.24.3
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets    
Allowances for doubtful accounts $ 5,367 $ 5,210
Stockholders’ equity    
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
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) 125,486,000 123,179,000
Common stock outstanding (in shares) 86,035,000 83,738,000
Treasury stock (in shares) 39,451,000 39,441,000
v3.24.3
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net income $ 11,153 $ 82,105
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation 67,877 58,373
Amortization 47,775 43,739
Non-cash lease expense 4,491 4,167
Amortization of financing costs and discounts 2,140 2,140
Loss on sale or disposal of assets 771 459
Accretion of contract rights 7,005 7,005
Provision for credit losses 8,333 8,861
Deferred income taxes (8,620) 12,270
Reserve for inventory obsolescence 4,588 1,466
Stock-based compensation 7,441 14,185
Adjustment to deferred acquisition consideration (161) 0
Changes in operating assets and liabilities:    
Settlement receivables 359,894 24,219
Trade and other receivables (10,598) (2,583)
Inventory (7,784) (13,444)
Prepaid expenses and other assets (7,684) (4,299)
Settlement liabilities (27,426) (56,995)
Accounts payable and accrued expenses (260) (20,655)
Net cash provided by operating activities 458,935 161,013
Cash flows from investing activities    
Capital expenditures (124,023) (97,523)
Acquisitions, net of cash acquired 0 (59,405)
Proceeds from sale of property and equipment 103 145
Net cash used in investing activities (123,920) (156,783)
Cash flows from financing activities    
Repayments of term loan (6,000) (6,000)
Proceeds from exercise of stock options 6,168 13,935
Treasury stock - equity award activities, net of shares withheld (96) (8,126)
Treasury stock - repurchase of shares 0 (73,938)
Payment of deferred acquisition consideration (4,411) (10,451)
Net cash used in financing activities (4,339) (84,580)
Effect of exchange rates on cash and cash equivalents 259 (583)
Cash, cash equivalents and restricted cash    
Net increase (decrease) for the period 330,935 (80,933)
Balance, beginning of the period 272,506 295,063
Balance, end of the period 603,441 214,130
Supplemental cash disclosures    
Cash paid for interest 71,566 69,003
Cash received for interest 11,452 8,900
Cash paid for income tax, net 11,514 5,076
Supplemental non-cash disclosures    
Accrued and unpaid capital expenditures 3,571 2,401
Transfer of leased gaming equipment to inventory $ 5,682 $ 5,550
v3.24.3
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)
shares in Thousands, $ in Thousands
Total
Common Stock
Additional Paid-in Capital
Retained Earnings/Accumulated Deficit
Accumulated Other Comprehensive Loss
Treasury Stock
Balance, beginning of period (in shares) at Dec. 31, 2022   119,390        
Balance, beginning of period at Dec. 31, 2022 $ 217,641 $ 119 $ 527,465 $ (21,266) $ (4,197) $ (284,480)
Increase (Decrease) in Stockholders' Equity            
Net income (loss) 28,066     28,066    
Foreign currency translation (186)       (186)  
Stock-based compensation expense 4,825   4,825      
Exercise of options (in shares)   702        
Exercise of options 5,234 $ 1 5,233      
Restricted share vesting and withholding (in shares)   53        
Restricted stock vesting, net of shares withheld (333)         (333)
Balance, end of period (in shares) at Mar. 31, 2023   120,145        
Balance, end of period at Mar. 31, 2023 255,247 $ 120 537,523 6,800 (4,383) (284,813)
Balance, beginning of period (in shares) at Dec. 31, 2022   119,390        
Balance, beginning of period at Dec. 31, 2022 217,641 $ 119 527,465 (21,266) (4,197) (284,480)
Increase (Decrease) in Stockholders' Equity            
Net income (loss) 82,105          
Balance, end of period (in shares) at Sep. 30, 2023   123,147        
Balance, end of period at Sep. 30, 2023 243,534 $ 123 556,287 60,839 (5,867) (367,848)
Balance, beginning of period (in shares) at Mar. 31, 2023   120,145        
Balance, beginning of period at Mar. 31, 2023 255,247 $ 120 537,523 6,800 (4,383) (284,813)
Increase (Decrease) in Stockholders' Equity            
Net income (loss) 27,396     27,396    
Foreign currency translation 118       118  
Stock-based compensation expense 4,828   4,828      
Exercise of options (in shares)   494        
Exercise of options 2,353   2,353      
Restricted share vesting and withholding (in shares)   1,656        
Restricted stock vesting, net of shares withheld (7,736) $ 2       (7,738)
Repurchase of shares (40,023)         (40,023)
Balance, end of period (in shares) at Jun. 30, 2023   122,295        
Balance, end of period at Jun. 30, 2023 242,183 $ 122 544,704 34,196 (4,265) (332,574)
Increase (Decrease) in Stockholders' Equity            
Net income (loss) 26,643     26,643    
Foreign currency translation (1,602)       (1,602)  
Stock-based compensation expense 4,532   4,532      
Exercise of options (in shares)   841        
Exercise of options 5,997 $ 1 7,052     (1,056)
Restricted share vesting and withholding (in shares)   11        
Restricted stock vesting, net of shares withheld (56)   (1)     (55)
Repurchase of shares (34,163)         (34,163)
Balance, end of period (in shares) at Sep. 30, 2023   123,147        
Balance, end of period at Sep. 30, 2023 $ 243,534 $ 123 556,287 60,839 (5,867) (367,848)
Balance, beginning of period (in shares) at Dec. 31, 2023 83,738 123,179        
Balance, beginning of period at Dec. 31, 2023 $ 226,142 $ 123 560,945 62,731 (3,467) (394,190)
Increase (Decrease) in Stockholders' Equity            
Net income (loss) 4,554     4,554    
Foreign currency translation (1,693)       (1,693)  
Stock-based compensation expense 1,942   1,942      
Exercise of options (in shares)   81        
Exercise of options 447   447      
Restricted share vesting and withholding (in shares)   27        
Restricted stock vesting, net of shares withheld (97)         (97)
Balance, end of period (in shares) at Mar. 31, 2024   123,287        
Balance, end of period at Mar. 31, 2024 $ 231,295 $ 123 563,334 67,285 (5,160) (394,287)
Balance, beginning of period (in shares) at Dec. 31, 2023 83,738 123,179        
Balance, beginning of period at Dec. 31, 2023 $ 226,142 $ 123 560,945 62,731 (3,467) (394,190)
Increase (Decrease) in Stockholders' Equity            
Net income (loss) $ 11,153          
Balance, end of period (in shares) at Sep. 30, 2024 86,035 125,486        
Balance, end of period at Sep. 30, 2024 $ 251,619 $ 126 574,641 73,884 (2,745) (394,287)
Balance, beginning of period (in shares) at Mar. 31, 2024   123,287        
Balance, beginning of period at Mar. 31, 2024 231,295 $ 123 563,334 67,285 (5,160) (394,287)
Increase (Decrease) in Stockholders' Equity            
Net income (loss) 9,173     9,173    
Foreign currency translation 677       677  
Stock-based compensation expense 2,684   2,684      
Exercise of options (in shares)   567        
Exercise of options 1,760 $ 1 1,759      
Restricted share vesting and withholding (in shares)   724        
Restricted stock vesting, net of shares withheld 1 $ 1        
Balance, end of period (in shares) at Jun. 30, 2024   124,578        
Balance, end of period at Jun. 30, 2024 245,590 $ 125 567,777 76,458 (4,483) (394,287)
Increase (Decrease) in Stockholders' Equity            
Net income (loss) (2,574)     (2,574)    
Foreign currency translation 1,738       1,738  
Stock-based compensation expense 2,815   2,815      
Exercise of options (in shares)   742        
Exercise of options 4,050 $ 1 4,049      
Restricted share vesting and withholding (in shares)   166        
Restricted stock vesting, net of shares withheld $ 0          
Balance, end of period (in shares) at Sep. 30, 2024 86,035 125,486        
Balance, end of period at Sep. 30, 2024 $ 251,619 $ 126 $ 574,641 $ 73,884 $ (2,745) $ (394,287)
v3.24.3
BUSINESS
 9 Months Ended
Sep. 30, 2024
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 develops and offers products and services that provide gaming entertainment, improve our customers’ patron engagement, and help our casino customers operate their businesses more efficiently. We develop and supply entertaining game content, gaming machines and gaming systems and services for land-based and iGaming operators. Everi is a provider of financial technology solutions that power casino floors, provide operational efficiencies, and help fulfill regulatory requirements. The Company also develops and supplies player loyalty tools and mobile-first applications that enhance patron engagement for our customers and venues in the casino, sports, entertainment and hospitality industries. In addition, the Company provides bingo solutions through its consoles, electronic gaming tablets and related systems.
Everi reports its financial performance, and organizes and manages its operations, across the following two business segments: (i) Games and (ii) FinTech.
Everi Games provides gaming operators with gaming technology and entertainment products and services, including: (i) gaming machines, primarily comprising Class II, Class III and Historic Horse Racing (“HHR”) slot machines placed under participation and 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; (iii) business-to-business (“B2B”) digital online gaming activities; and (iv) bingo solutions through consoles, integrated electronic gaming tablets and related systems.
Everi FinTech provides gaming operators with financial technology 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. We also develop and offer mobile-first applications aimed at enhancing patron engagement for customers in the casino, sports, entertainment, and hospitality industries. Our solutions are secured using an end-to-end security suite to protect against cyber-related attacks, allowing us to maintain appropriate levels of security. 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 loyalty and fully integrated kiosk 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.
v3.24.3
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 9 Months Ended
Sep. 30, 2024
Accounting Policies [Abstract]  
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation
Our Financial Statements included herein have been prepared by us pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Some of the information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) have been condensed or omitted pursuant to such rules and regulations, although we believe the disclosures are adequate to make the information presented not misleading. In the opinion of management, all adjustments (which include normal recurring adjustments) necessary for a fair statement of results for the interim periods have been made. The results for the three and nine months ended September 30, 2024 are not necessarily indicative of results to be expected for the full fiscal year. The Financial Statements should be read in conjunction with the consolidated financial statements and notes thereto included in the most recently filed Annual Report on Form 10-K for the year ended December 31, 2023 (the “Annual Report”).
Restricted Cash
Our restricted cash primarily consists of: (i) funds held in connection with certain customer agreements; (ii) funds held in connection with a sponsorship agreement; (iii) wide-area progressive (“WAP”)-related restricted funds; and (iv) financial access activities related to cash held on behalf of patrons and funds required to be held to cover underlying financial access service transactions. 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 nine months ended September 30, 2024 (in thousands).
Classification on our Balance Sheets
At September 30, 2024
At December 31, 2023
Cash and cash equivalentsCash and cash equivalents$595,955 $267,215 
Restricted cash - currentPrepaid expenses and other current assets7,385 5,190 
Restricted cash - non-currentOther assets101 101 
Total$603,441 $272,506 
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, short-term 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, which represent Level 2 inputs. The fair value of long-term accounts payable is estimated by discounting the total obligation. As of September 30, 2024 and December 31, 2023, the fair value of trade and loans 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 (in thousands):
 Level of HierarchyFair ValueOutstanding Balance
September 30, 2024   
$600 million Term Loan
2$582,677 $580,500 
$400 million Unsecured Notes
2$398,000 $400,000 
December 31, 2023   
$600 million Term Loan
2$589,433 $586,500 
$400 million Unsecured Notes
2$365,000 $400,000 
The fair values of our borrowings were determined using Level 2 inputs based on quoted market prices for these securities.
Reclassification of Balances
Certain amounts in the accompanying Financial Statements 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
None.
Recent Accounting Guidance Not Yet Adopted
StandardDescription
Date of Planned Adoption
Effect on Financial Statements
Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures
The amendments in this update require enhanced reportable segment disclosures, primarily concerning significant segment expenses.
December 31, 2024
We are currently evaluating the impact of adopting this ASU on our Financial Statements and our disclosures.
ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosure
The amendments in this update require enhanced income tax disclosures, primarily concerning the rate reconciliation and income taxes paid information.
December 31, 2025
We are currently evaluating the effect of adopting this ASU on our Financial Statement disclosures.
ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Topic 220):
The amendments in this update require disclosure, in the notes to financial statements, of specified information about certain costs and expenses.December 31, 2027
We are currently evaluating the effect of adopting this ASU on our Financial Statement disclosures.
As of September 30, 2024, other than what has been described above, we do not anticipate recently issued accounting guidance to have a significant impact on our Financial Statements.
v3.24.3
REVENUES
 9 Months Ended
Sep. 30, 2024
Revenue from Contract with Customer [Abstract]  
REVENUES REVENUES
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.
Disaggregation of Revenues
We disaggregate revenues based on the nature and timing of the cash flows generated by such revenues as presented in “Note 17 — Segment Information.”
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):
20242023
Contract assets(1)
Balance, January 1
$26,635 $22,417 
Balance, September 3033,314 22,001 
         Increase (decrease)$6,679 $(416)
Contract liabilities(2)
Balance, January 1
$51,799 $53,419 
Balance, September 3061,529 55,722 
         Increase$9,730 $2,303 
1.Contract assets are included within trade and other receivables, net and other receivables in our Balance Sheets.
2.Contract liabilities are included within accounts payable and accrued expenses and other accrued expenses and liabilities in our Balance Sheets.
We recognized approximately $32.5 million and $38.6 million in revenue that was included in the beginning contract liabilities balance during the nine months ended September 30, 2024 and 2023, 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, HHR offerings, integrated electronic bingo gaming tablets, VLTs installed in the State of New York and similar technology in certain tribal jurisdictions, 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; and (ii) Gaming Equipment and Systems.
We recognize our Gaming Operations revenue based on criteria set forth in ASC 842 or ASC 606, as applicable. The amount of lease revenue included in our Gaming Operations revenues and recognized under ASC 842 was approximately $44.5 million and $136.1 million for the three and nine months ended September 30, 2024, respectively, and $52.7 million and $153.4 million for the three and nine months ended September 30, 2023, respectively.
FinTech Revenues
Our FinTech products and services include solutions that we offer to gaming establishments to provide their patrons with financial access and funds-based services supporting digital, cashless and physical cash options across mobile, assisted and self-service channels along with related loyalty and marketing tools, and other information-related products and services. We also develop and offer mobile-first applications aimed at enhancing patron engagement for customers in the casino, sports, entertainment, and hospitality industries. In addition, our services operate as part of an end-to-end security suite to protect against cyber-related attacks, allowing us to maintain appropriate levels of security. These solutions include: access to cash and cashless funding at gaming facilities via ATM debit withdrawals, credit card financial access transactions, and POS debit card purchases at casino cages, kiosk and mobile POS devices; accounts for the CashClub Wallet, check warranty services, self-service loyalty and fully integrated kiosk 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. We conduct our FinTech segment business based on results generated from the following major revenue streams: (i) Financial Access Services; (ii) Software and Other; and (iii) 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 the definition of a sales type or direct financing lease, which are accounted for under ASC 842. We did not have any significant financial access kiosk and related equipment sales contracts accounted for under ASC 842 during the three and nine months ended September 30, 2024 and 2023.
v3.24.3
LEASES
 9 Months Ended
Sep. 30, 2024
Leases [Abstract]  
LEASES LEASES
Lessee
Supplemental balance sheet information related to our operating leases is as follows (in thousands):
Classification on our Balance Sheets
At September 30, 2024
At December 31, 2023
Assets
Operating lease right-of-use assets
Other assets, non-current$23,925 $27,489 
Liabilities
Current operating lease liabilitiesAccounts payable and accrued expenses$7,656 $7,079 
Non-current operating lease liabilitiesOther accrued expenses and liabilities$22,357 $26,930 
Supplemental cash flow information related to leases is as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Cash paid for:
Long-term operating leases$2,318 $1,902 $6,598 $5,476 
Short-term operating leases$613 $496 $1,725 $1,341 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases
$— $— $922 $852 
Other information related to lease terms and discount rates is as follows:
At September 30, 2024At December 31, 2023
Weighted average remaining lease term (in years):
Operating leases6.546.71
Weighted average discount rate:
Operating leases6.26 %6.08 %
Components of lease expense are as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Operating lease cost:
Operating lease cost
$1,943 $1,632 $5,841 $4,668 
Variable lease cost $315 $401 $1,098 $1,026 
Maturities of lease liabilities are summarized as follows as of September 30, 2024 (in thousands):

Year Ending December 31, Amount
2024 (excluding the nine months ended September 30, 2024)
$2,345 
2025
9,030 
2026
5,377 
2027
3,217 
2028
2,813 
Thereafter14,765 
Total future minimum lease payments 37,547 
Less: Amount representing interest 7,534 
Present value of future minimum lease payments30,013 
Less: Current operating lease obligations7,656 
Long-term lease obligations$22,357 
Lessor
Supplemental balance sheet information related to our sales-type leases is as follows (in thousands):
Classification on our Balance Sheets
At September 30, 2024
At December 31, 2023
Assets
Net investment in sales-type leases — currentTrade and other receivables, net$2,304 $810 
LEASES LEASES
Lessee
Supplemental balance sheet information related to our operating leases is as follows (in thousands):
Classification on our Balance Sheets
At September 30, 2024
At December 31, 2023
Assets
Operating lease right-of-use assets
Other assets, non-current$23,925 $27,489 
Liabilities
Current operating lease liabilitiesAccounts payable and accrued expenses$7,656 $7,079 
Non-current operating lease liabilitiesOther accrued expenses and liabilities$22,357 $26,930 
Supplemental cash flow information related to leases is as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Cash paid for:
Long-term operating leases$2,318 $1,902 $6,598 $5,476 
Short-term operating leases$613 $496 $1,725 $1,341 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases
$— $— $922 $852 
Other information related to lease terms and discount rates is as follows:
At September 30, 2024At December 31, 2023
Weighted average remaining lease term (in years):
Operating leases6.546.71
Weighted average discount rate:
Operating leases6.26 %6.08 %
Components of lease expense are as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Operating lease cost:
Operating lease cost
$1,943 $1,632 $5,841 $4,668 
Variable lease cost $315 $401 $1,098 $1,026 
Maturities of lease liabilities are summarized as follows as of September 30, 2024 (in thousands):

Year Ending December 31, Amount
2024 (excluding the nine months ended September 30, 2024)
$2,345 
2025
9,030 
2026
5,377 
2027
3,217 
2028
2,813 
Thereafter14,765 
Total future minimum lease payments 37,547 
Less: Amount representing interest 7,534 
Present value of future minimum lease payments30,013 
Less: Current operating lease obligations7,656 
Long-term lease obligations$22,357 
Lessor
Supplemental balance sheet information related to our sales-type leases is as follows (in thousands):
Classification on our Balance Sheets
At September 30, 2024
At December 31, 2023
Assets
Net investment in sales-type leases — currentTrade and other receivables, net$2,304 $810 
v3.24.3
BUSINESS COMBINATIONS
 9 Months Ended
Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
BUSINESS COMBINATIONS BUSINESS COMBINATIONS
We account for business combinations in accordance with ASC 805 — Business Combinations, which requires that the identifiable assets acquired and liabilities assumed be recorded at their estimated fair values on the acquisition date separately from goodwill, which is the excess of the fair value of the purchase price over the fair values of these identifiable assets and liabilities. We include the results of operations of an acquired business starting from the acquisition date.

Pending Proposed Merger

On February 28, 2024, the Company entered into definitive agreements with, among others, International Game Technology PLC, a public limited company incorporated under the laws of England and Wales (“IGT”), pursuant to which IGT agreed to spin-off a newly created subsidiary, which will own IGT’s Gaming & Digital business (“IGT Gaming”), with the Company acquiring IGT Gaming in a series of transactions (the “Original Proposed Transaction”). Upon the closing of the Original Proposed Transaction, under the terms of the agreements, IGT shareholders were expected to own approximately 54% of the combined company, with the Company’s existing stockholders expected to own approximately 46% of the combined company.

On February 28, 2024, the Company and Ignite Rotate LLC, a subsidiary of IGT (“Spinco”), entered into a debt commitment letter and related letters with the lenders specified therein. On March 29, 2024, the Company and Spinco entered into an amended and restated debt commitment letter and related amended and restated letters (as amended, the “Commitment Letter”), pursuant to which the lenders committed to provide the Company and such subsidiary with up to $3.7 billion, together with a revolver of $0.8 billion, used to refinance the existing debt of the Company and its subsidiaries, and distribute funds to IGT, with the remainder to be used to pay the combined company’s fees, costs and expenses in connection with the Original Proposed Transaction, subject to the satisfaction of certain customary closing conditions including the consummation of the Original Proposed Transaction described above.

In connection with the Original Proposed Transaction, we incurred transaction costs of approximately $1.2 million and $16.2 million during the three and nine months ended September 30, 2024, respectively, which are included within Operating Expenses of our Statements of Operations.

On July 26, 2024, the Company entered into definitive agreements with, among others, IGT and Voyager Parent, LLC, a Delaware limited liability company (“Buyer”), whereby IGT Gaming and Everi will be simultaneously acquired by Buyer in an all-cash transaction (the “Proposed Transaction”). Following closing, IGT Gaming and Everi will be privately owned companies that are part of one combined enterprise and Everi’s common stock will be delisted from the New York Stock Exchange and deregistered under the Securities Exchange Act of 1934, as amended. Under the terms of the agreements, Everi stockholders will receive $14.25 per share in cash (subject to adjustment for any stock or interest split, division or subdivision of shares, stock dividend, reverse stock split, combination of shares, reclassification, recapitalization, or other similar transaction) and IGT will receive $4.1 billion of gross cash proceeds for IGT Gaming, subject to customary transaction adjustments in accordance with the definitive agreements. The acquisitions of IGT Gaming and Everi by Buyer are cross-conditioned. The transaction is subject to customary closing conditions, including the receipt of regulatory approvals and approval by Everi stockholders. In addition, on July 26, 2024, immediately prior to and in connection with the entry into the definitive agreements for the Proposed Transaction, each of the definitive agreements for the Original Proposed Transaction, including the Commitment Letter, was terminated by mutual consent of the respective parties thereto, effective immediately. There were no termination or other penalties surrounding the termination of such agreements.
Buyer has obtained equity financing commitments and debt financing commitments for the purpose of funding the Proposed Transaction and paying related fees and expenses. Certain funds managed by affiliates of Apollo Global Management, Inc. (the “Guarantors”) have committed to invest in Buyer an aggregate amount of up to $2.3 billion, subject to the terms and conditions set forth in the equity commitment letter, and have entered into a limited guarantee in favor of IGT and the Company, pursuant to which the Guarantors are guaranteeing certain obligations of Buyer in connection with the merger agreement relating to the Proposed Transaction, including the termination fee and certain other fees, indemnities, and expenses, subject to a maximum aggregate liability cap. In addition, certain debt financing sources have committed to lend an aggregate principal amount of up to $4.3 billion, together with a committed revolving credit facility in an aggregate principal amount of up to $0.8 billion, to Buyer for the purpose of funding the Proposed Transaction, subject to the terms and conditions set forth in the debt commitment letter and any related fee letter. In addition, De Agostini S.p.A., a società per azioni organization under the laws of Italy and the controlling shareholder of IGT (“De Agostini”), has entered into a letter agreement with an affiliate of Buyer, pursuant to which De Agostini will make a minority investment in an indirect parent of Buyer.

In connection with the Proposed Transaction, we incurred transaction costs of approximately $4.6 million and $5.4 million during the three and nine months ended September 30, 2024, respectively, and employee retention costs of approximately $2.4 million and $7.8 million during the three and nine months ended September 30, 2024, respectively, which are included within Operating Expenses of our Statements of Operations.

eCash Holdings Pty Limited
On March 1, 2022 (the “eCash Closing Date”), the Company acquired the stock of eCash Holdings Pty Limited (“eCash”). Under the terms of the stock purchase agreement, we paid the seller AUD$20 million (approximately USD$15 million) on the eCash Closing Date, additional consideration of AUD$5.0 million (USD$3.4 million) approximately one year following the eCash Closing Date and additional consideration of AUD$6.5 million (USD$4.2 million) approximately two years following the eCash Closing Date. In addition, we paid approximately AUD$8.7 million (USD$6.0 million) for the excess net working capital during the second quarter of 2022. We finalized our measurement period adjustments and recorded approximately $2.3 million primarily related to deferred taxes during the first quarter of 2023. The acquisition did not have a significant impact on our results of operations or financial condition.
Intuicode Gaming Corporation
On April 30, 2022 (the “Intuicode Closing Date”), the Company acquired the stock of Intuicode Gaming Corporation (“Intuicode”), a privately owned game development and engineering firm focused on HHR games. Under the terms of the stock purchase agreement, we paid the seller $12.5 million on the Intuicode Closing Date of the transaction, a net working capital payment of $1.6 million during the second quarter of 2022 and $6.4 million based on the achievement of a certain revenue target one year following the Intuicode Closing Date. In addition, we owe approximately $2.4 million as a final payment based on the achievement of a certain revenue target two years following the Intuicode Closing Date. We finalized our measurement period adjustments and recorded approximately $1.3 million primarily related to the final payment and deferred taxes during the second quarter of 2023.
During the second quarter of 2024, the contingent consideration performance period ended and we revised our final payment estimate. As a result, we recorded an adjustment of approximately $0.2 million, which was included within Operating Expenses of our Statements of Operations. The acquisition did not have a significant impact on our results of operations or financial condition.
The fair value of the contingent consideration was based on Level 3 inputs utilizing a discounted cash flow methodology. The estimates and assumptions included projected future revenues of the acquired business and a discount rate of approximately 5%. Contingent consideration to be paid is comprised of a short-term component that is recorded in accounts payable and accrued expenses in our Balance Sheets. The change in fair value of the contingent consideration during the period ended September 30, 2024 was not material.
Venuetize, Inc.

On October 14, 2022 (the “Venuetize Closing Date”), the Company acquired certain strategic assets of Venuetize, Inc. (“Venuetize”), a privately owned innovator of mobile-first technologies that provide an advanced guest engagement and m-commerce platform for the sports, entertainment and hospitality industries. Under the terms of the asset purchase agreement, we paid the seller $18.2 million on the Venuetize Closing Date of the transaction and an immaterial amount twelve-months following the Venuetize Closing Date that was netted against a net working capital receivable of approximately $1.0 million. In addition, we expect to pay approximately $1.8 million in contingent consideration based upon the achievement of certain revenue targets on the twenty-four month and thirty-month anniversaries of the Venuetize Closing Date. We finalized our measurement period adjustments and recorded approximately $1.2 million primarily related to the net working capital receivable and deferred taxes during the fourth quarter of 2023. The acquisition did not have a significant impact on our results of operations or financial condition.

The fair value of the contingent consideration was based on Level 3 inputs utilizing a discounted cash flow methodology. The estimates and assumptions included projected future revenues of the acquired business and a discount rate of approximately 7%. Contingent consideration to be paid is comprised of a short-term component that is recorded in accounts payable and accrued expenses in our Balance Sheets. The change in fair value of the contingent consideration during the period ended September 30, 2024 was not material.

VKGS LLC

On May 1, 2023 (the “Video King Closing Date”), the Company acquired certain strategic assets of VKGS LLC (“Video King”), a privately owned leading provider of integrated electronic bingo gaming tablets, video gaming content, instant win games and systems. Under the terms of the purchase agreement, we paid the seller approximately $61.0 million, inclusive of a net working capital payment on the Video King Closing Date. We also made an additional net working capital payment of $0.3 million post-closing, early in the third quarter of 2023. In addition, we paid the seller approximately $0.2 million related to an indemnity holdback post-closing, during the fourth quarter of 2024, which was scheduled for release on the eighteen-month anniversary of the Video King Closing Date. We finalized our measurement period adjustments and recorded an immaterial amount related to deferred taxes during the quarter ended March 31, 2024. The acquisition did not have a significant impact on our results of operations or financial condition.

Pro-forma financial information (unaudited)

The acquisition related to Video King occurred during fiscal 2023; therefore, it is included in our Financial Statements for the three and nine months ended September 30, 2024.

The unaudited pro forma financial data on a consolidated basis, including the historical operating results of the Company, assuming the Video King acquisition occurred on January 1, 2022, reflected revenue of approximately $206.6 million and $625.0 million and net income of approximately $26.6 million and $81.9 million for the three and nine months ended September 30, 2023, respectively.

The acquisitions related to eCash, Intuicode and Venuetize occurred during fiscal 2022; therefore, each are included in our Financial Statements for the three and nine months ended September 30, 2024 and 2023, respectively.

The unaudited pro forma results include increases to depreciation and amortization expense based on the purchased intangible assets and costs directly attributable to the acquisitions. The unaudited pro forma results do not purport to be indicative of results of operations as of the date hereof, for any period ended on the date hereof, or for any other future date or period; nor do they give effect to synergies, cost savings, fair market value adjustments and other changes expected as a result of the acquisitions.
v3.24.3
FUNDING AGREEMENTS
 9 Months Ended
Sep. 30, 2024
A T M Funding Agreement Disclosure [Abstract]  
FUNDING AGREEMENTS FUNDING AGREEMENTS
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 $4.8 million and $14.4 million for the three and nine months ended September 30, 2024, respectively, and $5.1 million and $15.3 million for the three and nine months ended September 30, 2023, 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.
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 $450 million with the ability to increase the amount permitted by the vault cash provider. The term of the agreement expires on December 1, 2026 and will automatically renew for additional one-year periods unless either party provides a ninety-day written notice of its intent not to renew. The outstanding balance of funds provided in connection with this arrangement were approximately $230.5 million and $388.5 million as of September 30, 2024 and December 31, 2023, respectively.
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 three and nine months ended September 30, 2024 and 2023, respectively.
v3.24.3
TRADE AND OTHER RECEIVABLES
 9 Months Ended
Sep. 30, 2024
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 software, and compliance products. Trade and loans receivable generally do not require collateral.
The balance of trade and loans receivable consists of outstanding balances owed to us by gaming operators. Other receivables include income tax receivables and other miscellaneous receivables.
The balance of trade and other receivables consisted of the following (in thousands):
 At September 30,At December 31,
20242023
Trade and other receivables, net  
Games trade and loans receivable$53,542 $66,044 
FinTech trade and loans receivable
42,900 39,795 
Contract assets(1)
33,314 26,635 
Other receivables9,476 4,474 
Total trade and other receivables, net139,232 136,948 
Non-current portion of receivables  
Games trade and loans receivable2,220 480 
FinTech trade and loans receivable
17,985 15,551 
Contract assets(1)
16,997 12,984 
Total non-current portion of receivables37,202 29,015 
Total trade and other receivables, current portion$102,030 $107,933 
1.Refer to “Note 3 — Revenues” for a discussion on the contract assets.
Allowance for Credit Losses
The activity in our allowance for credit losses for the nine months ended September 30, 2024 and 2023 is as follows (in thousands):
Nine Months Ended September 30,
20242023
Beginning allowance for credit losses$(5,210)$(4,855)
Provision(8,333)(8,861)
Charge-offs, net of recoveries8,176 8,539 
Ending allowance for credit losses$(5,367)$(5,177)
v3.24.3
INVENTORY
 9 Months Ended
Sep. 30, 2024
Inventory Disclosure [Abstract]  
INVENTORY 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 September 30,At December 31,
 20242023
Inventory  
Component parts$57,667 $59,632 
Work-in-progress1,619 1,147 
Finished goods15,636 9,845 
Total inventory$74,922 $70,624 
During the third quarter of 2024, we identified certain component parts that were no longer expected to be utilized to manufacture, refurbish, or support certain of our end-of-life electronic gaming devices, as discussed in “Note 9 — Property and Equipment.” As a result, we increased our Games segment inventory reserves by approximately $3.5 million, of which $3.0 million was included within Gaming Operations Cost of Revenues and $0.5 million was included within Gaming Equipment and Systems Cost of Revenues of our Statements of Operations.
We also determined that the expected utility of certain firm purchase commitments in our Games segment had declined resulting in a charge of approximately $3.8 million, which was included within Operating Expenses of our Statements of Operations.
v3.24.3
PROPERTY AND EQUIPMENT
 9 Months Ended
Sep. 30, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT PROPERTY AND EQUIPMENT
Property and equipment consist of the following (in thousands):
  At September 30, 2024At December 31, 2023
Useful Life
(Years)		CostAccumulated
Depreciation		Net Book
Value		CostAccumulated
Depreciation		Net Book
Value
Property and equipment       
Rental pool - deployed
2-5
$299,590 $196,857 $102,733 $308,438 $218,110 $90,328 
Rental pool - undeployed
2-5
52,399 41,220 11,179 39,578 29,770 9,808 
FinTech equipment
1-5
31,545 23,089 8,456 32,719 21,911 10,808 
Leasehold and building improvementsLease Term19,828 6,313 13,515 19,271 4,887 14,384 
Machinery, office, and other equipment
1-5
71,185 43,437 27,748 63,857 36,481 27,376 
Total $474,547 $310,916 $163,631 $463,863 $311,159 $152,704 
Depreciation expense related to property and equipment totaled approximately $28.2 million and $67.9 million for the three and nine months ended September 30, 2024, respectively, and $19.9 million and $58.4 million for the three and nine months ended September 30, 2023, respectively.
During the third quarter of 2024, we determined that certain returned, end-of-life electronic gaming devices reflected in our Games segment were not likely to be re-deployed, primarily due to increased demand for our newer gaming devices, together with uncertainty in light of the Proposed Transaction discussed in “Note 5 — Business Combinations.” As a result, we shortened the remaining useful lives of these returned, end-of-life, electronic gaming devices and recorded a charge of approximately $6.4 million, which was included within Depreciation Expense of our Statements of Operations.
v3.24.3
GOODWILL AND OTHER INTANGIBLE ASSETS
 9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS 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 $738.0 million and $737.8 million at September 30, 2024 and December 31, 2023, respectively.
Other Intangible Assets
Other intangible assets consist of the following (in thousands):
  At September 30, 2024At December 31, 2023
Useful Life
(Years)		CostAccumulated
Amortization		Net Book
Value		CostAccumulated
Amortization		Net Book
Value
Other intangible assets       
Contract rights under placement fee agreements
2-7
$57,821 $28,597 $29,224 $57,821 $21,592 $36,229 
Customer relationships
3-14
337,946 271,429 66,517 337,829 255,972 81,857 
Developed technology and software
1-7
492,703 368,247 124,456 453,453 340,286 113,167 
Patents, trademarks, and other
2-18
24,794 22,924 1,870 24,783 21,898 2,885 
Total$913,264 $691,197 $222,067 $873,886 $639,748 $234,138 
Amortization expense related to other intangible assets was approximately $16.1 million and $47.8 million for the three and nine months ended September 30, 2024, respectively, and $15.2 million and $43.7 million for the three and nine months ended September 30, 2023, respectively.
v3.24.3
LONG-TERM DEBT
 9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
LONG-TERM DEBT LONG-TERM DEBT
The following table summarizes our indebtedness (in thousands):
 MaturityInterestAt September 30,At December 31,
 DateRate20242023
Long-term debt  
$600 million Term Loan
2028
SOFR+CSA+2.50%
$580,500 $586,500 
$125 million Revolver
2026
SOFR+CSA+2.50%
— — 
Senior Secured Credit Facilities580,500 586,500 
$400 million Unsecured Notes
20295.00%400,000 400,000 
Total debt980,500 986,500 
Debt issuance costs and discount(10,183)(12,035)
Total debt after debt issuance costs and discount
970,317 974,465 
Current portion of long-term debt(4,500)(6,000)
Total long-term debt, net of current portion$965,817 $968,465 
Credit Facilities
Our senior secured credit facilities consist of: (i) a seven-year $600 million senior secured term loan due 2028 issued at 99.75% of par (the “Term Loan”); and (ii) a $125 million senior secured revolving credit facility due 2026, which was undrawn at closing (the “Revolver” and together with the Term Loan, the “Credit Facilities”). The Company, as borrower, entered into the credit agreement dated as of August 3, 2021, 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 “Original Credit Agreement”).
On June 23, 2023, the Company entered into the first amendment (the “Amendment”) to the Original Credit Agreement (as amended, the “Amended Credit Agreement”), among Everi, as borrower, the lenders party thereto and Jefferies Finance LLC, as administrative agent, collateral agent, swing line lender and letter of credit issuer. Under the Amended Credit Agreement, the Secured Overnight Financing Rate (“SOFR”) replaced the Eurodollar Rate for all purposes under the Original Credit Agreement and under any other Loan Document (as defined therein) on July 1, 2023, when the ICE Benchmark Administration ceased to provide all available tenors of the Eurodollar Rate. In connection with such implementation of SOFR, the Company and Jefferies Finance LLC agreed to make conforming changes to the relevant provisions of the Original Credit Agreement, as reflected in the Amended Credit Agreement.
On November 2, 2023, the Company entered into the second amendment (the “Second Amendment”), effective November 9, 2023, to the Original Credit Agreement and the Amended Credit Agreement (as amended, the “Credit Agreement”), among Everi, as borrower, the lenders party thereto and Jefferies Finance LLC, as administrative agent, collateral agent, swing line lender and letter of credit issuer. Under the Amended Credit Agreement, capitalized terms not otherwise defined in this Second Amendment have the same meanings as specified in the Original Credit Agreement or the Amended Credit Agreement, as the context may require; and pursuant to the Amended Credit Agreement, the borrower and the administrative agent jointly identified certain obvious errors of a technical nature in the Amended Credit Agreement and have agreed to amend the Amended Credit Agreement to correct such errors.
The interest rate per annum applicable to the Credit Facilities will be, at the Company’s option, either the SOFR, inclusive of the credit spread adjustment (“CSA”) with a 0.50% floor plus a margin of 2.50%, or the base rate plus a margin of 1.50%. In addition, the CSA is recorded as interest expense that varies for the applicable interest period, with an adjustment of 0.1% for interest periods of one month, an adjustment of 0.3% for interest periods of two months and an adjustment of 0.4% for interest periods of three months. Our Revolver remained fully undrawn as of September 30, 2024.
The weighted average interest rate on the Term Loan was 7.92% and 7.94% for the three and nine months ended September 30, 2024, respectively.
Senior Unsecured Notes
Our senior unsecured notes issued in 2021 (the “2021 Unsecured Notes”) had an outstanding balance of $400.0 million as of September 30, 2024 that accrues interest at a rate of 5.00% per annum and is payable semi-annually in arrears on each January 15 and July 15.
Compliance with Debt Covenants
We were in compliance with the covenants and terms of the Credit Facilities and the 2021 Unsecured Notes as of September 30, 2024.
v3.24.3
COMMITMENTS AND CONTINGENCIES
 9 Months Ended
Sep. 30, 2024
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. In addition, following the announcement of the Proposed Transaction, three purported stockholders of Everi filed complaints alleging that the definitive proxy statement for the Special Meeting of Everi stockholders omitted or misstated material information with respect to the Proposed Transaction and seeking supplemental disclosures and other equitable and legal relief. The complaints are entitled Clancy v. Everi Holdings Inc., et al., No. 1:24-cv-07255-AS (S.D.N.Y. filed Sept. 25, 2024), Marino v. Everi Holdings Inc., et al., No. tc241024-69 (N.Y. S. Ct. filed Oct. 24, 2024) and Miller v. Everi Holdings Inc., et al., docket no. unassigned (N.Y. S. Ct. filed Oct. 25, 2024) (the “Complaints”). Thirteen other purported stockholders of Everi have sent demand letters to the Company making allegations and demands similar to those in the Complaints. It is possible that other complaints will be filed or demand letters received. 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 that 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.
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. Discovery is closed. The court removed the case from the September trial calendar and requested briefs from the parties on relevant legal issues. Briefing was completed in December 2022. The parties are awaiting further guidance from the court. Due to the current stage of the litigation, we are unable to estimate the probability of the outcome of this matter or reasonably estimate the range of possible damages, if any.
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 (“Zenergy”), 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 parties participated in mediation on March 21, 2023. No settlement was reached at mediation. The parties filed a joint motion to set a firm trial date which the court granted. The case is on the court's May 28, 2025 trial calendar. Due to the current stage of the litigation, we are unable to estimate the probability of the outcome of this matter or reasonably estimate the range of possible damages, if any.
Mary Parrish matter:
Mary Parrish v. Everi Holdings Inc., et al. is a civil action filed on December 28, 2021, against Everi Holdings and Everi FinTech in the District Court of Nevada, Clark County by Mary Parrish alleging violation of the Fair and Accurate Credit Transactions Act (FACTA) amendment to the Fair Credit Reporting Act (FCRA). Plaintiff's complaint alleges she received a printed receipt for cash access services performed at an Everi Payments' ATM which displayed more than four (4) digits of the account number. Plaintiff seeks statutory damages, punitive damages, injunctive relief, attorneys' fees, and other relief. Everi filed a Petition for Removal to the United States District Court, District of Nevada. On May 4, 2023, the United States District Court entered an order remanding the case to the District Court of Nevada, Clark County. On August 16, 2024, a settlement conference was held wherein the parties reached a resolution. The court entered an order of dismissal on September 11, 2024. This matter is now closed.
In addition, we have commitments with respect to certain lease obligations discussed in “Note 4 — Leases,” installment payments under our purchase agreements discussed in “Note 5 — Business Combinations,”
v3.24.3
STOCKHOLDERS' EQUITY
 9 Months Ended
Sep. 30, 2024
Stockholders' Equity Note [Abstract]  
STOCKHOLDERS' EQUITY STOCKHOLDERS’ EQUITY
On May 3, 2023, our Board of Directors authorized and approved a share repurchase program in an amount not to exceed $180 million, pursuant to which we were authorized to purchase outstanding Company common stock in open market or privately negotiated transactions over a period of eighteen (18) months through November 3, 2024, in accordance with Company and regulatory policies and trading plans established in accordance with Rules 10b5-1 and 10b-18 of the Securities Exchange Act of 1934, as amended.
On May 2, 2024, the Board of Directors canceled the share repurchase program. As of May 2, 2024, the Company had repurchased $100.0 million of Company common stock under the $180 million authorized share repurchase program.
No shares were repurchased during the three and nine months ended September 30, 2024, and 2.4 million and 5.1 million shares were repurchased during the three and nine months ended September 30, 2023, respectively.
v3.24.3
WEIGHTED AVERAGE SHARES OF COMMON STOCK
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
WEIGHTED AVERAGE SHARES OF COMMON STOCK WEIGHTED AVERAGE SHARES OF COMMON STOCK
The weighted average number of common stock outstanding used in the computation of basic and diluted (loss) earnings per share is as follows (in thousands):
 Three Months Ended September 30,Nine Months Ended September 30,
 2024202320242023
Weighted average shares  
Weighted average number of common shares outstanding - basic85,525 87,221 84,609 87,925 
Potential dilution from equity awards(1)
— 4,024 3,105 5,237 
Weighted average number of common shares outstanding - diluted(1)
85,525 91,245 87,714 93,162 
1.We were in a net loss position for the three months ended September 30, 2024; therefore, no potential dilution from the application of the treasury stock method was applicable for the period. The potential dilution excludes the weighted average effect of equity awards to purchase approximately 0.9 million shares that were anti-dilutive under the treasury stock method for the three months ended September 30, 2024. There were 0.8 million shares that were anti-dilutive under the treasury stock method for the nine months ended September 30, 2024 and 0.6 million and 0.2 million shares that were anti-dilutive under the treasury stock method for the three and nine months ended September 30, 2023, respectively.
v3.24.3
SHARE-BASED COMPENSATION
 9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
SHARE-BASED COMPENSATION SHARE-BASED COMPENSATION
Equity Incentive Awards
Generally, we grant the following types of awards: (i) restricted stock units with either time- or performance-based criteria; and (ii) time-based options. We estimate forfeiture amounts based on historical patterns.
A summary of award activity is as follows (in thousands):
Stock Options Restricted Stock Units
Outstanding, December 31, 20234,804 2,464 
Granted109 1,473 
Exercised options or vested shares(1,390)(917)
Canceled or forfeited(175)(201)
Outstanding, September 30, 20243,348 2,819 
There were approximately 4.5 million awards of our common stock available for future equity grants under our existing equity incentive plan at September 30, 2024, which included 3.6 million additional shares approved by our stockholders during the second quarter of 2024.
v3.24.3
INCOME TAXES
 9 Months Ended
Sep. 30, 2024
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The income tax benefit for the three months ended September 30, 2024 reflected an effective income tax rate of 64.2%, which was greater than the statutory federal rate of 21.0%, primarily due to a research credit, the benefit from equity award activities and the 2023 federal return-to-provision adjustments recorded in the current reporting period, partially offset by a valuation allowance on certain deferred tax assets. The income tax benefit for the nine months ended September 30, 2024 reflected an effective income tax rate of negative 9.5%, which was less than the statutory federal rate of 21.0%, primarily due to a research credit and the 2023 federal return-to-provision adjustments recorded in the current reporting period, partially offset by state taxes and a valuation allowance on certain deferred tax assets. The income tax provision for the three and nine months ended September 30, 2023 reflected an effective income tax rate of 18.1% and 17.7%, respectively, which was less than the statutory federal rate of 21.0%, respectively, primarily due to a research credit and the benefit from equity award activities, partially offset by state taxes and compensation deduction limitations.
We have analyzed our positions in the federal, state and foreign jurisdictions where we are required to file income tax returns, as well as the open tax years in these jurisdictions. As of September 30, 2024, we recorded approximately $5.2 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.
v3.24.3
SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION 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 and the Chief Financial Officer. Our CODM determined that our operating segments for conducting business are: (i) Games and (ii) FinTech. 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. Refer to “Note 1 — Business” for additional information regarding our operating segments.
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 that were material to our results of operations or financial condition, and no significant assets in foreign locations.
The following tables present segment information (in thousands)*:
 Three Months Ended September 30,Nine Months Ended September 30,
 2024202320242023
Games  
Revenues  
Gaming operations(1)
$67,158 $78,400 $211,716 $231,490 
Gaming equipment and systems24,388 33,138 74,623 100,554 
Total revenues91,546 111,538 286,339 332,044 
Costs and expenses  
Cost of revenues(2)
  
Gaming operations12,674 10,363 32,025 25,557 
Gaming equipment and systems14,597 18,239 43,923 58,629 
Total cost of revenues(3)
27,271 28,602 75,948 84,186 
Operating expenses(4) (5) (6) (7) (9) (10) (11)
30,091 22,805 88,060 64,574 
Research and development12,199 10,065 36,673 31,890 
Depreciation(8)
25,454 17,492 59,756 50,997 
Amortization11,914 11,153 35,207 32,304 
Total costs and expenses106,929 90,117 295,644 263,951 
Operating (loss) income$(15,383)$21,421 $(9,305)$68,093 
1.Includes the accretion of contract rights of approximately $2.3 million and $7.0 million for each of the three and nine months ended September 30, 2024 and 2023, respectively.
2.Excludes depreciation and amortization.
3.Includes approximately $3.5 million of additional inventory reserves, of which $3.0 million was included within Gaming Operations Cost of Revenues and $0.5 million was included within Gaming Equipment and Systems Cost of Revenues, for the three and nine months ended September 30, 2024, respectively.
4.Includes approximately $2.1 million and $2.8 million of transaction costs related to the Proposed Transaction for the three and nine months ended September 30, 2024, respectively.
5.Includes approximately $1.2 million and $15.8 million of transaction costs related to the Original Proposed Transaction for the three and nine months ended September 30, 2024, respectively, and approximately $1.4 million for the three and nine months ended September 30, 2023, respectively.
6.Includes approximately $1.3 million and $4.0 million of employee retention costs for the Proposed Transaction for the three and nine months ended September 30, 2024, respectively.
7.Includes approximately $1.4 million and $2.1 million of severance costs related to the realignment of certain employee functions within the Games business for the three and nine months ended September 30, 2024, respectively, and approximately $0.4 million for the nine months ended September 30, 2023.
8.Includes approximately $6.4 million of depreciation charges for certain end-of-life electronic gaming devices returned from our install base for the three and nine months ended September 30, 2024, respectively.
9.Includes approximately $3.8 million of accrued charges for the decline in expected utility of certain firm purchase commitments for the three and nine months ended September 30, 2024, respectively.
10.Includes approximately $0.1 million in other professional fees and expenses primarily associated with litigation and other non-recurring legal matters for the three and nine months ended September 30, 2024, respectively, and approximately $0.1 million and $0.4 million of other legal fees and professional expenses associated with the Video King asset acquisition for the three and nine months ended September 30, 2023.
11.Includes approximately $0.3 million and $0.5 million of office and warehouse consolidation expenses for the three and nine months ended September 30, 2023, respectively.
* Rounding may cause variances.
 Three Months Ended September 30,Nine Months Ended September 30,
 2024202320242023
FinTech  
Revenues  
Financial access services$58,494 $57,158 $173,446 $169,032 
Software and other26,958 24,838 77,484 73,048 
Hardware10,853 13,066 31,118 41,665 
Total revenues96,305 95,062 282,048 283,745 
Costs and expenses  
Cost of revenues(1)
  
Financial access services2,532 2,925 7,694 8,521 
Software and other3,586 1,484 10,203 4,830 
Hardware7,536 8,904 22,169 27,926 
Total cost of revenues13,654 13,313 40,066 41,277 
Operating expenses(2) (3) (4) (5) (6)
42,654 38,209 124,666 117,022 
Research and development6,258 6,055 21,080 16,963 
Depreciation2,745 2,410 8,121 7,376 
Amortization4,182 4,049 12,568 11,435 
Total costs and expenses69,493 64,036 206,501 194,073 
Operating income$26,812 $31,026 $75,547 $89,672 
1.Excludes depreciation and amortization.
2.Includes approximately $2.5 million and $2.6 million of transaction costs related to the Proposed Transaction for the three and nine months ended September 30, 2024, respectively.
3.Includes approximately $0.4 million of transaction costs related to the Original Proposed Transaction for the nine months ended September 30, 2024 and approximately $0.2 million for the three and nine months ended September 30, 2023, respectively.
4.Includes approximately $1.1 million and $3.8 million of employee retention costs for the Proposed Transaction for the three and nine months ended September 30, 2024, respectively.
5.Includes approximately $0.1 million and $0.2 million of severance costs related to the realignment of certain employee functions within the FinTech business for the three and nine months ended September 30, 2024, respectively, and approximately $0.1 million and $1.0 million for the three and nine months ended September 30, 2023, respectively.
6.Includes approximately $0.2 million and $0.5 million in other professional fees and expenses primarily associated with litigation and other non-recurring legal matters for the three and nine months ended September 30, 2024, respectively. We recorded a benefit of approximately $0.2 million against other legal fees and expenses associated with insurance recoveries from litigation matters for the three and nine months ended September 30, 2023, and $0.1 million of legal fees for debt amendment costs in the nine months ended September 30, 2023.
* Rounding may cause variances.
 At September 30,At December 31,
 20242023
Total assets  
Games$934,623 $931,322 
FinTech1,169,948 1,192,548 
Total assets$2,104,571 $2,123,870 
Major Customers. No single customer accounted for more than 10% of our revenues for the three and nine months ended September 30, 2024 and 2023, respectively. Our five largest customers accounted for approximately 13.6% and 13.1% of our revenues for the three and nine months ended September 30, 2024, respectively, and 14.0% and 12.3% for the three and nine months ended September 30, 2023, respectively.
v3.24.3
SUBSEQUENT EVENTS
 9 Months Ended
Sep. 30, 2024
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
As of the filing date, we had not identified, and were not aware of, any subsequent events for the period.
v3.24.3
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2024
Sep. 30, 2023
Pay vs Performance Disclosure                
Net income (loss) $ (2,574) $ 9,173 $ 4,554 $ 26,643 $ 27,396 $ 28,066 $ 11,153 $ 82,105
v3.24.3
Insider Trading Arrangements
 3 Months Ended 9 Months Ended
Sep. 30, 2024
shares
Sep. 30, 2024
shares
Trading Arrangements, by Individual    
Non-Rule 10b5-1 Arrangement Adopted false  
Rule 10b5-1 Arrangement Terminated false  
Non-Rule 10b5-1 Arrangement Terminated false  
Geoffrey P. Judge [Member]    
Trading Arrangements, by Individual    
Material Terms of Trading Arrangement   Geoffrey P. Judge, a member of the Company’s Board of Directors, on August 16, 2024 entered into a Rule 10b5-1 trading arrangement intended to satisfy Rule 10b5-1(c) to purchase and sell up to 20,000 shares of Company common stock between November 15, 2024 and April 18, 2025, subject to certain limit orders, all of which shares were to be acquired upon the exercise of employee stock option awards that are set to expire on April 22, 2025.
Name Geoffrey P. Judge  
Title Board of Directors  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date August 16, 2024  
Expiration Date April 22, 2025  
Arrangement Duration 249 days  
Aggregate Available 20,000 20,000
v3.24.3
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 9 Months Ended
Sep. 30, 2024
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation
Our Financial Statements included herein have been prepared by us pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Some of the information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) have been condensed or omitted pursuant to such rules and regulations, although we believe the disclosures are adequate to make the information presented not misleading. In the opinion of management, all adjustments (which include normal recurring adjustments) necessary for a fair statement of results for the interim periods have been made. The results for the three and nine months ended September 30, 2024 are not necessarily indicative of results to be expected for the full fiscal year. The Financial Statements should be read in conjunction with the consolidated financial statements and notes thereto included in the most recently filed Annual Report on Form 10-K for the year ended December 31, 2023 (the “Annual Report”).
Restricted Cash
Restricted Cash
Our restricted cash primarily consists of: (i) funds held in connection with certain customer agreements; (ii) funds held in connection with a sponsorship agreement; (iii) wide-area progressive (“WAP”)-related restricted funds; and (iv) financial access activities related to cash held on behalf of patrons and funds required to be held to cover underlying financial access service transactions.
Fair Values of Financial Instruments
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, short-term 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, which represent Level 2 inputs. The fair value of long-term accounts payable is estimated by discounting the total obligation.
Reclassification of Balances
Reclassification of Balances
Certain amounts in the accompanying Financial Statements 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
Recent Accounting Guidance
Recently Adopted Accounting Guidance
None.
Recent Accounting Guidance Not Yet Adopted
StandardDescription
Date of Planned Adoption
Effect on Financial Statements
Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures
The amendments in this update require enhanced reportable segment disclosures, primarily concerning significant segment expenses.
December 31, 2024
We are currently evaluating the impact of adopting this ASU on our Financial Statements and our disclosures.
ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosure
The amendments in this update require enhanced income tax disclosures, primarily concerning the rate reconciliation and income taxes paid information.
December 31, 2025
We are currently evaluating the effect of adopting this ASU on our Financial Statement disclosures.
ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Topic 220):
The amendments in this update require disclosure, in the notes to financial statements, of specified information about certain costs and expenses.December 31, 2027
We are currently evaluating the effect of adopting this ASU on our Financial Statement disclosures.
As of September 30, 2024, other than what has been described above, we do not anticipate recently issued accounting guidance to have a significant impact on our Financial Statements.
Revenue
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.
Disaggregation of Revenues
We disaggregate revenues based on the nature and timing of the cash flows generated by such revenues as presented in “Note 17 — Segment Information.”
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.
v3.24.3
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 9 Months Ended
Sep. 30, 2024
Accounting Policies [Abstract]  
Reconciliation of Cash, Cash Equivalents, and Restricted Cash 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 nine months ended September 30, 2024 (in thousands).
Classification on our Balance Sheets
At September 30, 2024
At December 31, 2023
Cash and cash equivalentsCash and cash equivalents$595,955 $267,215 
Restricted cash - currentPrepaid expenses and other current assets7,385 5,190 
Restricted cash - non-currentOther assets101 101 
Total$603,441 $272,506 
Reconciliation of Cash, Cash Equivalents, and Restricted Cash 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 nine months ended September 30, 2024 (in thousands).
Classification on our Balance Sheets
At September 30, 2024
At December 31, 2023
Cash and cash equivalentsCash and cash equivalents$595,955 $267,215 
Restricted cash - currentPrepaid expenses and other current assets7,385 5,190 
Restricted cash - non-currentOther assets101 101 
Total$603,441 $272,506 
Estimated Fair Value and Outstanding Balances of Borrowings
The estimated fair value and outstanding balances of our borrowings are as follows (in thousands):
 Level of HierarchyFair ValueOutstanding Balance
September 30, 2024   
$600 million Term Loan
2$582,677 $580,500 
$400 million Unsecured Notes
2$398,000 $400,000 
December 31, 2023   
$600 million Term Loan
2$589,433 $586,500 
$400 million Unsecured Notes
2$365,000 $400,000 
Summary of Recent Accounting Guidance
Recent Accounting Guidance Not Yet Adopted
StandardDescription
Date of Planned Adoption
Effect on Financial Statements
Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures
The amendments in this update require enhanced reportable segment disclosures, primarily concerning significant segment expenses.
December 31, 2024
We are currently evaluating the impact of adopting this ASU on our Financial Statements and our disclosures.
ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosure
The amendments in this update require enhanced income tax disclosures, primarily concerning the rate reconciliation and income taxes paid information.
December 31, 2025
We are currently evaluating the effect of adopting this ASU on our Financial Statement disclosures.
ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Topic 220):
The amendments in this update require disclosure, in the notes to financial statements, of specified information about certain costs and expenses.December 31, 2027
We are currently evaluating the effect of adopting this ASU on our Financial Statement disclosures.
v3.24.3
REVENUES (Tables)
 9 Months Ended
Sep. 30, 2024
Revenue from Contract with Customer [Abstract]  
Contract Asset and Liability
The following table summarizes our contract assets and contract liabilities arising from contracts with customers (in thousands):
20242023
Contract assets(1)
Balance, January 1
$26,635 $22,417 
Balance, September 3033,314 22,001 
         Increase (decrease)$6,679 $(416)
Contract liabilities(2)
Balance, January 1
$51,799 $53,419 
Balance, September 3061,529 55,722 
         Increase$9,730 $2,303 
1.Contract assets are included within trade and other receivables, net and other receivables in our Balance Sheets.
2.Contract liabilities are included within accounts payable and accrued expenses and other accrued expenses and liabilities in our Balance Sheets.
v3.24.3
LEASES (Tables)
 9 Months Ended
Sep. 30, 2024
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 September 30, 2024
At December 31, 2023
Assets
Operating lease right-of-use assets
Other assets, non-current$23,925 $27,489 
Liabilities
Current operating lease liabilitiesAccounts payable and accrued expenses$7,656 $7,079 
Non-current operating lease liabilitiesOther accrued expenses and liabilities$22,357 $26,930 
Cash Flow Information
Supplemental cash flow information related to leases is as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Cash paid for:
Long-term operating leases$2,318 $1,902 $6,598 $5,476 
Short-term operating leases$613 $496 $1,725 $1,341 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases
$— $— $922 $852 
Lease Costs
Other information related to lease terms and discount rates is as follows:
At September 30, 2024At December 31, 2023
Weighted average remaining lease term (in years):
Operating leases6.546.71
Weighted average discount rate:
Operating leases6.26 %6.08 %
Components of lease expense are as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Operating lease cost:
Operating lease cost
$1,943 $1,632 $5,841 $4,668 
Variable lease cost $315 $401 $1,098 $1,026 
Payments Due
Maturities of lease liabilities are summarized as follows as of September 30, 2024 (in thousands):

Year Ending December 31, Amount
2024 (excluding the nine months ended September 30, 2024)
$2,345 
2025
9,030 
2026
5,377 
2027
3,217 
2028
2,813 
Thereafter14,765 
Total future minimum lease payments 37,547 
Less: Amount representing interest 7,534 
Present value of future minimum lease payments30,013 
Less: Current operating lease obligations7,656 
Long-term lease obligations$22,357 
Sales-type lease
Supplemental balance sheet information related to our sales-type leases is as follows (in thousands):
Classification on our Balance Sheets
At September 30, 2024
At December 31, 2023
Assets
Net investment in sales-type leases — currentTrade and other receivables, net$2,304 $810 
v3.24.3
TRADE AND OTHER RECEIVABLES (Tables)
 9 Months Ended
Sep. 30, 2024
Receivables [Abstract]  
Schedule of Components of Trade and Other Receivables
The balance of trade and other receivables consisted of the following (in thousands):
 At September 30,At December 31,
20242023
Trade and other receivables, net  
Games trade and loans receivable$53,542 $66,044 
FinTech trade and loans receivable
42,900 39,795 
Contract assets(1)
33,314 26,635 
Other receivables9,476 4,474 
Total trade and other receivables, net139,232 136,948 
Non-current portion of receivables  
Games trade and loans receivable2,220 480 
FinTech trade and loans receivable
17,985 15,551 
Contract assets(1)
16,997 12,984 
Total non-current portion of receivables37,202 29,015 
Total trade and other receivables, current portion$102,030 $107,933 
1.Refer to “Note 3 — Revenues” for a discussion on the contract assets.
Activity in Allowance for Credit Losses
The activity in our allowance for credit losses for the nine months ended September 30, 2024 and 2023 is as follows (in thousands):
Nine Months Ended September 30,
20242023
Beginning allowance for credit losses$(5,210)$(4,855)
Provision(8,333)(8,861)
Charge-offs, net of recoveries8,176 8,539 
Ending allowance for credit losses$(5,367)$(5,177)
v3.24.3
INVENTORY (Tables)
 9 Months Ended
Sep. 30, 2024
Inventory Disclosure [Abstract]  
Schedule of Components of Inventory
Inventory consisted of the following (in thousands):
 At September 30,At December 31,
 20242023
Inventory  
Component parts$57,667 $59,632 
Work-in-progress1,619 1,147 
Finished goods15,636 9,845 
Total inventory$74,922 $70,624 
v3.24.3
PROPERTY AND EQUIPMENT (Tables)
 9 Months Ended
Sep. 30, 2024
Property, Plant and Equipment [Abstract]  
Schedule of Components of Property, Equipment and Leased Assets
Property and equipment consist of the following (in thousands):
  At September 30, 2024At December 31, 2023
Useful Life
(Years)		CostAccumulated
Depreciation		Net Book
Value		CostAccumulated
Depreciation		Net Book
Value
Property and equipment       
Rental pool - deployed
2-5
$299,590 $196,857 $102,733 $308,438 $218,110 $90,328 
Rental pool - undeployed
2-5
52,399 41,220 11,179 39,578 29,770 9,808 
FinTech equipment
1-5
31,545 23,089 8,456 32,719 21,911 10,808 
Leasehold and building improvementsLease Term19,828 6,313 13,515 19,271 4,887 14,384 
Machinery, office, and other equipment
1-5
71,185 43,437 27,748 63,857 36,481 27,376 
Total $474,547 $310,916 $163,631 $463,863 $311,159 $152,704 
v3.24.3
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
 9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Other Intangible Assets
Other intangible assets consist of the following (in thousands):
  At September 30, 2024At December 31, 2023
Useful Life
(Years)		CostAccumulated
Amortization		Net Book
Value		CostAccumulated
Amortization		Net Book
Value
Other intangible assets       
Contract rights under placement fee agreements
2-7
$57,821 $28,597 $29,224 $57,821 $21,592 $36,229 
Customer relationships
3-14
337,946 271,429 66,517 337,829 255,972 81,857 
Developed technology and software
1-7
492,703 368,247 124,456 453,453 340,286 113,167 
Patents, trademarks, and other
2-18
24,794 22,924 1,870 24,783 21,898 2,885 
Total$913,264 $691,197 $222,067 $873,886 $639,748 $234,138 
v3.24.3
LONG-TERM DEBT (Tables)
 9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
Schedule of Outstanding Indebtedness
The following table summarizes our indebtedness (in thousands):
 MaturityInterestAt September 30,At December 31,
 DateRate20242023
Long-term debt  
$600 million Term Loan
2028
SOFR+CSA+2.50%
$580,500 $586,500 
$125 million Revolver
2026
SOFR+CSA+2.50%
— — 
Senior Secured Credit Facilities580,500 586,500 
$400 million Unsecured Notes
20295.00%400,000 400,000 
Total debt980,500 986,500 
Debt issuance costs and discount(10,183)(12,035)
Total debt after debt issuance costs and discount
970,317 974,465 
Current portion of long-term debt(4,500)(6,000)
Total long-term debt, net of current portion$965,817 $968,465 
v3.24.3
WEIGHTED AVERAGE SHARES OF COMMON STOCK (Tables)
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Schedule of Weighted Average Number of Shares
The weighted average number of common stock outstanding used in the computation of basic and diluted (loss) earnings per share is as follows (in thousands):
 Three Months Ended September 30,Nine Months Ended September 30,
 2024202320242023
Weighted average shares  
Weighted average number of common shares outstanding - basic85,525 87,221 84,609 87,925 
Potential dilution from equity awards(1)
— 4,024 3,105 5,237 
Weighted average number of common shares outstanding - diluted(1)
85,525 91,245 87,714 93,162 
1.We were in a net loss position for the three months ended September 30, 2024; therefore, no potential dilution from the application of the treasury stock method was applicable for the period. The potential dilution excludes the weighted average effect of equity awards to purchase approximately 0.9 million shares that were anti-dilutive under the treasury stock method for the three months ended September 30, 2024. There were 0.8 million shares that were anti-dilutive under the treasury stock method for the nine months ended September 30, 2024 and 0.6 million and 0.2 million shares that were anti-dilutive under the treasury stock method for the three and nine months ended September 30, 2023, respectively.
v3.24.3
SHARE-BASED COMPENSATION (Tables)
 9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Award Activity
A summary of award activity is as follows (in thousands):
Stock Options Restricted Stock Units
Outstanding, December 31, 20234,804 2,464 
Granted109 1,473 
Exercised options or vested shares(1,390)(917)
Canceled or forfeited(175)(201)
Outstanding, September 30, 20243,348 2,819 
v3.24.3
SEGMENT INFORMATION (Tables)
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Schedule of Segment Information
The following tables present segment information (in thousands)*:
 Three Months Ended September 30,Nine Months Ended September 30,
 2024202320242023
Games  
Revenues  
Gaming operations(1)
$67,158 $78,400 $211,716 $231,490 
Gaming equipment and systems24,388 33,138 74,623 100,554 
Total revenues91,546 111,538 286,339 332,044 
Costs and expenses  
Cost of revenues(2)
  
Gaming operations12,674 10,363 32,025 25,557 
Gaming equipment and systems14,597 18,239 43,923 58,629 
Total cost of revenues(3)
27,271 28,602 75,948 84,186 
Operating expenses(4) (5) (6) (7) (9) (10) (11)
30,091 22,805 88,060 64,574 
Research and development12,199 10,065 36,673 31,890 
Depreciation(8)
25,454 17,492 59,756 50,997 
Amortization11,914 11,153 35,207 32,304 
Total costs and expenses106,929 90,117 295,644 263,951 
Operating (loss) income$(15,383)$21,421 $(9,305)$68,093 
1.Includes the accretion of contract rights of approximately $2.3 million and $7.0 million for each of the three and nine months ended September 30, 2024 and 2023, respectively.
2.Excludes depreciation and amortization.
3.Includes approximately $3.5 million of additional inventory reserves, of which $3.0 million was included within Gaming Operations Cost of Revenues and $0.5 million was included within Gaming Equipment and Systems Cost of Revenues, for the three and nine months ended September 30, 2024, respectively.
4.Includes approximately $2.1 million and $2.8 million of transaction costs related to the Proposed Transaction for the three and nine months ended September 30, 2024, respectively.
5.Includes approximately $1.2 million and $15.8 million of transaction costs related to the Original Proposed Transaction for the three and nine months ended September 30, 2024, respectively, and approximately $1.4 million for the three and nine months ended September 30, 2023, respectively.
6.Includes approximately $1.3 million and $4.0 million of employee retention costs for the Proposed Transaction for the three and nine months ended September 30, 2024, respectively.
7.Includes approximately $1.4 million and $2.1 million of severance costs related to the realignment of certain employee functions within the Games business for the three and nine months ended September 30, 2024, respectively, and approximately $0.4 million for the nine months ended September 30, 2023.
8.Includes approximately $6.4 million of depreciation charges for certain end-of-life electronic gaming devices returned from our install base for the three and nine months ended September 30, 2024, respectively.
9.Includes approximately $3.8 million of accrued charges for the decline in expected utility of certain firm purchase commitments for the three and nine months ended September 30, 2024, respectively.
10.Includes approximately $0.1 million in other professional fees and expenses primarily associated with litigation and other non-recurring legal matters for the three and nine months ended September 30, 2024, respectively, and approximately $0.1 million and $0.4 million of other legal fees and professional expenses associated with the Video King asset acquisition for the three and nine months ended September 30, 2023.
11.Includes approximately $0.3 million and $0.5 million of office and warehouse consolidation expenses for the three and nine months ended September 30, 2023, respectively.
* Rounding may cause variances.
 Three Months Ended September 30,Nine Months Ended September 30,
 2024202320242023
FinTech  
Revenues  
Financial access services$58,494 $57,158 $173,446 $169,032 
Software and other26,958 24,838 77,484 73,048 
Hardware10,853 13,066 31,118 41,665 
Total revenues96,305 95,062 282,048 283,745 
Costs and expenses  
Cost of revenues(1)
  
Financial access services2,532 2,925 7,694 8,521 
Software and other3,586 1,484 10,203 4,830 
Hardware7,536 8,904 22,169 27,926 
Total cost of revenues13,654 13,313 40,066 41,277 
Operating expenses(2) (3) (4) (5) (6)
42,654 38,209 124,666 117,022 
Research and development6,258 6,055 21,080 16,963 
Depreciation2,745 2,410 8,121 7,376 
Amortization4,182 4,049 12,568 11,435 
Total costs and expenses69,493 64,036 206,501 194,073 
Operating income$26,812 $31,026 $75,547 $89,672 
1.Excludes depreciation and amortization.
2.Includes approximately $2.5 million and $2.6 million of transaction costs related to the Proposed Transaction for the three and nine months ended September 30, 2024, respectively.
3.Includes approximately $0.4 million of transaction costs related to the Original Proposed Transaction for the nine months ended September 30, 2024 and approximately $0.2 million for the three and nine months ended September 30, 2023, respectively.
4.Includes approximately $1.1 million and $3.8 million of employee retention costs for the Proposed Transaction for the three and nine months ended September 30, 2024, respectively.
5.Includes approximately $0.1 million and $0.2 million of severance costs related to the realignment of certain employee functions within the FinTech business for the three and nine months ended September 30, 2024, respectively, and approximately $0.1 million and $1.0 million for the three and nine months ended September 30, 2023, respectively.
6.Includes approximately $0.2 million and $0.5 million in other professional fees and expenses primarily associated with litigation and other non-recurring legal matters for the three and nine months ended September 30, 2024, respectively. We recorded a benefit of approximately $0.2 million against other legal fees and expenses associated with insurance recoveries from litigation matters for the three and nine months ended September 30, 2023, and $0.1 million of legal fees for debt amendment costs in the nine months ended September 30, 2023.
* Rounding may cause variances.
 At September 30,At December 31,
 20242023
Total assets  
Games$934,623 $931,322 
FinTech1,169,948 1,192,548 
Total assets$2,104,571 $2,123,870 
v3.24.3
BUSINESS (Details)
 9 Months Ended
Sep. 30, 2024
segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Number of operating segments 2
v3.24.3
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Cash (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Sep. 30, 2023
Dec. 31, 2022
Accounting Policies [Abstract]        
Cash and cash equivalents $ 595,955 $ 267,215    
Restricted Cash, Current, Statement of Financial Position [Extensible Enumeration] Prepaid expenses and other current assets Prepaid expenses and other current assets    
Restricted cash - current $ 7,385 $ 5,190    
Restricted Cash, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other assets Other assets    
Restricted cash - non-current $ 101 $ 101    
Total $ 603,441 $ 272,506 $ 214,130 $ 295,063
v3.24.3
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)
 9 Months Ended 12 Months Ended
Sep. 30, 2024
Dec. 31, 2023
Accounting Policies [Abstract]    
Contractual terms of trade and loans receivable 12 months 12 months
v3.24.3
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Estimated Fair Value and Outstanding Balances of Borrowings (Details) - USD ($)
Sep. 30, 2024
Dec. 31, 2023
Aug. 03, 2021
Senior secured notes | New Revolver      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Principal amount of debt $ 600,000,000 $ 600,000,000 $ 600,000,000
Senior unsecured notes | 2021 Unsecured Notes      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Principal amount of debt 400,000,000 400,000,000  
Fair Value | Level 2 | New Term Loan      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Long-term debt 582,677,000 589,433,000  
Fair Value | Level 2 | Incremental Term Loan      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Long-term debt 398,000,000 365,000,000  
Outstanding Balance | Level 2 | New Term Loan      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Long-term debt 580,500,000 586,500,000  
Outstanding Balance | Level 2 | Incremental Term Loan      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Long-term debt $ 400,000,000 $ 400,000,000  
v3.24.3
REVENUES - Contract Asset and Liability (Details) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Contract assets    
Balance, January 1 $ 26,635 $ 22,417
Balance, September 30 33,314 22,001
Increase (decrease) 6,679 (416)
Contract liabilities    
Balance, January 1 51,799 53,419
Balance, September 30 61,529 55,722
Increase $ 9,730 $ 2,303
v3.24.3
REVENUES - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Disaggregation of Revenue [Line Items]        
Contract liability, revenue recognized     $ 32,500 $ 38,600
Total revenues $ 187,851 $ 206,600 568,387 615,789
Games        
Disaggregation of Revenue [Line Items]        
Total revenues 91,546 111,538 286,339 332,044
Gaming operations, leased equipment | Games        
Disaggregation of Revenue [Line Items]        
Total revenues $ 44,500 $ 52,700 $ 136,100 $ 153,400
v3.24.3
LEASES - Balance Sheet Information (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Leases [Abstract]    
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] Other assets Other assets
Operating lease right-of-use assets $ 23,925 $ 27,489
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] Accounts payable and accrued expenses Accounts payable and accrued expenses
Less: Current operating lease obligations $ 7,656 $ 7,079
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] Other accrued expenses and liabilities Other accrued expenses and liabilities
Non-current operating lease liabilities $ 22,357 $ 26,930
v3.24.3
LEASES - Cash Flow Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Leases [Abstract]        
Long-term operating leases $ 2,318 $ 1,902 $ 6,598 $ 5,476
Short-term operating leases 613 496 1,725 1,341
Right-of-use assets obtained in exchange for lease obligations:        
Operating leases $ 0 $ 0 $ 922 $ 852
v3.24.3
LEASES - Lease Costs (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Leases [Abstract]          
Weighted average remaining lease term, operating leases 6 years 6 months 14 days   6 years 6 months 14 days   6 years 8 months 15 days
Weighted average discount rate, operating leases 6.26%   6.26%   6.08%
Operating lease cost $ 1,943 $ 1,632 $ 5,841 $ 4,668  
Variable lease cost $ 315 $ 401 $ 1,098 $ 1,026  
v3.24.3
LEASES - Payments Due (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Amount    
2024 (excluding the nine months ended September 30, 2024) $ 2,345  
2025 9,030  
2026 5,377  
2027 3,217  
2028 2,813  
Thereafter 14,765  
Total future minimum lease payments 37,547  
Less: Amount representing interest 7,534  
Present value of future minimum lease payments 30,013  
Less: Current operating lease obligations 7,656 $ 7,079
Long-term lease obligations $ 22,357 $ 26,930
v3.24.3
LEASES - Sales-type Lease (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Leases [Abstract]    
Net investment in sales-type leases — current $ 2,304 $ 810
v3.24.3
BUSINESS COMBINATIONS (Details)
$ / shares in Units, $ in Thousands, $ in Millions
 3 Months Ended 9 Months Ended
Jul. 26, 2024
USD ($)
$ / shares
May 01, 2023
USD ($)
Oct. 14, 2022
USD ($)
Apr. 30, 2022
USD ($)
Mar. 01, 2022
USD ($)
Mar. 01, 2022
AUD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
Jun. 30, 2023
USD ($)
Mar. 31, 2023
USD ($)
Jun. 30, 2022
USD ($)
Jun. 30, 2022
AUD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
Feb. 28, 2024
USD ($)
Dec. 31, 2023
USD ($)
Business Acquisition [Line Items]                                
Deferred tax liabilities, net             $ 5,112           $ 5,112     $ 13,762
International Game Technology PLC                                
Business Acquisition [Line Items]                                
Principal amount of debt $ 4,300,000                              
Share price (in dollars per share) | $ / shares $ 14.25                              
Proceeds from fees received $ 4,100,000                              
Buyer aggregate amount 2,300,000                              
International Game Technology PLC | Revolving credit facility                                
Business Acquisition [Line Items]                                
Principal amount of debt $ 800,000                              
Debt Commitment Letter                                
Business Acquisition [Line Items]                                
Principal amount of debt                             $ 3,700,000  
Debt Commitment Revolver                                
Business Acquisition [Line Items]                                
Principal amount of debt                             $ 800,000  
Global Gaming And Play Ditial Business                                
Business Acquisition [Line Items]                                
Transaction costs             4,600           5,400      
Employee retention costs             2,400           7,800      
Global Gaming And Play Ditial Business | IGT Shareholders                                
Business Acquisition [Line Items]                                
Ownership percentage                             54.00%  
Global Gaming And Play Ditial Business | Everi Exisitng Shareholders                                
Business Acquisition [Line Items]                                
Ownership percentage                             46.00%  
Global Gaming And Play Ditial Business, Original Proposed Transaction                                
Business Acquisition [Line Items]                                
Transaction costs             1,200           $ 16,200      
ecash Holdings Pty Limited                                
Business Acquisition [Line Items]                                
Cash consideration paid at closing         $ 15,000 $ 20.0                    
Payments for excess net working capital                     $ 6,000 $ 8.7        
Deferred taxes                   $ 2,300            
ecash Holdings Pty Limited | Tranche One                                
Business Acquisition [Line Items]                                
Contingent consideration         $ 3,400 $ 5.0                    
Contingent consideration, final payment         1 year 1 year                    
ecash Holdings Pty Limited | Tranche Two                                
Business Acquisition [Line Items]                                
Contingent consideration         $ 4,200 $ 6.5                    
Contingent consideration, final payment         2 years 2 years                    
Intuicode                                
Business Acquisition [Line Items]                                
Cash consideration paid at closing       $ 12,500                        
Business combination, consideration transferred, liabilities incurred       1,600                        
Final payment and deferred taxes             $ 200   $ 1,300              
Intuicode | Measurement Input, Discount Rate                                
Business Acquisition [Line Items]                                
Acquired business discount rate             0.05           0.05      
Intuicode | Business Combination, Contingent Consideration, Period One                                
Business Acquisition [Line Items]                                
Earn-out liability       $ 6,400                        
Revenue target anniversary       1 year                        
Intuicode | Business Combination, Contingent Consideration, Period Two                                
Business Acquisition [Line Items]                                
Earn-out liability       $ 2,400                        
Revenue target anniversary       2 years                        
Venuetize, Inc.                                
Business Acquisition [Line Items]                                
Cash consideration paid at closing     $ 18,200                          
Earn-out liability     1,800                          
Business combination, consideration transfer     $ 1,000                          
Deferred tax liabilities, net                               $ 1,200
Venuetize, Inc. | Measurement Input, Discount Rate                                
Business Acquisition [Line Items]                                
Acquired business discount rate             0.07           0.07      
Venuetize, Inc. | Business Combination, Contingent Consideration, Period One                                
Business Acquisition [Line Items]                                
Revenue target anniversary     12 months                          
Venuetize, Inc. | Business Combination, Contingent Consideration, Period Two                                
Business Acquisition [Line Items]                                
Revenue target anniversary     24 months                          
Venuetize, Inc. | Business Combination, Contingent Consideration, Period Three                                
Business Acquisition [Line Items]                                
Revenue target anniversary     30 months                          
VKGS LLC                                
Business Acquisition [Line Items]                                
Cash consideration paid at closing   $ 61,000                            
Earn-out liability   $ 200                            
Revenue target anniversary   18 months                            
Additional net working capital payment               $ 300                
Pro forma revenue               206,600           $ 625,000    
Pro forma net income               $ 26,600           $ 81,900    
v3.24.3
FUNDING AGREEMENTS (Details) - Indemnification Guarantee - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Contract Cash Solutions Agreement          
Funding Agreements          
Cash usage fees incurred $ 4,800,000 $ 5,100,000 $ 14,400,000 $ 15,300,000  
Outstanding balance 230,500,000   230,500,000   $ 388,500,000
Contract Cash Solutions Agreement, as amended          
Funding Agreements          
Maximum amount $ 450,000,000   $ 450,000,000    
Renewal period     1 year    
Non-renewal notice period     90 days    
v3.24.3
TRADE AND OTHER RECEIVABLES - Schedule of Components of Trade and Other Receivables (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Trade and other receivables, net    
Contract assets $ 33,314 $ 26,635
Other receivables 9,476 4,474
Total trade and other receivables, net 139,232 136,948
Non-current portion of receivables 37,202 29,015
Contract assets 16,997 12,984
Total trade and other receivables, current portion 102,030 107,933
Gaming operations    
Trade and other receivables, net    
Trade receivables, net 53,542 66,044
Non-current portion of receivables 2,220 480
FinTech    
Trade and other receivables, net    
Trade receivables, net 42,900 39,795
Non-current portion of receivables $ 17,985 $ 15,551
v3.24.3
TRADE AND OTHER RECEIVABLES - Activity in Allowance for Credit Losses (Details) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning allowance for credit losses $ (5,210) $ (4,855)
Provision (8,333) (8,861)
Charge-offs, net of recoveries 8,176 8,539
Ending allowance for credit losses $ (5,367) $ (5,177)
v3.24.3
INVENTORY - Schedule of Inventory (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Inventory    
Component parts $ 57,667 $ 59,632
Work-in-progress 1,619 1,147
Finished goods 15,636 9,845
Total inventory $ 74,922 $ 70,624
v3.24.3
INVENTORY - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2024
Sep. 30, 2023
Inventory [Line Items]      
Reserve for inventory obsolescence   $ 4,588 $ 1,466
Games      
Inventory [Line Items]      
Reserve for inventory obsolescence $ 3,500 3,500  
Purchase commitment impairment 3,800 $ 3,800  
Games | Gaming operations      
Inventory [Line Items]      
Reserve for inventory obsolescence 3,000    
Games | Gaming equipment and systems      
Inventory [Line Items]      
Reserve for inventory obsolescence $ 500    
v3.24.3
PROPERTY AND EQUIPMENT (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Property, Plant and Equipment [Line Items]          
Cost $ 474,547   $ 474,547   $ 463,863
Accumulated Depreciation 310,916   310,916   311,159
Net Book Value 163,631   163,631   152,704
Depreciation 28,199 $ 19,902 67,877 $ 58,373  
Rental pool - deployed          
Property, Plant and Equipment [Line Items]          
Cost 299,590   299,590   308,438
Accumulated Depreciation 196,857   196,857   218,110
Net Book Value $ 102,733   $ 102,733   90,328
Rental pool - deployed | Minimum          
Property, Plant and Equipment [Line Items]          
Useful Life (Years) 2 years   2 years    
Rental pool - deployed | Maximum          
Property, Plant and Equipment [Line Items]          
Useful Life (Years) 5 years   5 years    
Rental pool - undeployed          
Property, Plant and Equipment [Line Items]          
Cost $ 52,399   $ 52,399   39,578
Accumulated Depreciation 41,220   41,220   29,770
Net Book Value $ 11,179   $ 11,179   9,808
Rental pool - undeployed | Minimum          
Property, Plant and Equipment [Line Items]          
Useful Life (Years) 2 years   2 years    
Rental pool - undeployed | Maximum          
Property, Plant and Equipment [Line Items]          
Useful Life (Years) 5 years   5 years    
Machinery, office, and other equipment          
Property, Plant and Equipment [Line Items]          
Cost $ 71,185   $ 71,185   63,857
Accumulated Depreciation 43,437   43,437   36,481
Net Book Value $ 27,748   $ 27,748   27,376
Machinery, office, and other equipment | Minimum          
Property, Plant and Equipment [Line Items]          
Useful Life (Years) 1 year   1 year    
Machinery, office, and other equipment | Maximum          
Property, Plant and Equipment [Line Items]          
Useful Life (Years) 5 years   5 years    
Leasehold and building improvements          
Property, Plant and Equipment [Line Items]          
Cost $ 19,828   $ 19,828   19,271
Accumulated Depreciation 6,313   6,313   4,887
Net Book Value 13,515   13,515   14,384
FinTech          
Property, Plant and Equipment [Line Items]          
Depreciation 2,745 $ 2,410 8,121 $ 7,376  
FinTech | Machinery, office, and other equipment          
Property, Plant and Equipment [Line Items]          
Cost 31,545   31,545   32,719
Accumulated Depreciation 23,089   23,089   21,911
Net Book Value $ 8,456   $ 8,456   $ 10,808
FinTech | Machinery, office, and other equipment | Minimum          
Property, Plant and Equipment [Line Items]          
Useful Life (Years) 1 year   1 year    
FinTech | Machinery, office, and other equipment | Maximum          
Property, Plant and Equipment [Line Items]          
Useful Life (Years) 5 years   5 years    
v3.24.3
GOODWILL AND OTHER INTANGIBLE ASSETS - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]          
Goodwill $ 738,010   $ 738,010   $ 737,804
Amortization $ 16,096 $ 15,202 $ 47,775 $ 43,739  
v3.24.3
GOODWILL AND OTHER INTANGIBLE ASSETS - Other Intangible Assets (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]    
Cost $ 913,264 $ 873,886
Accumulated Amortization 691,197 639,748
Net Book Value 222,067 234,138
Contract rights under placement fee agreements    
Finite-Lived Intangible Assets [Line Items]    
Cost 57,821 57,821
Accumulated Amortization 28,597 21,592
Net Book Value $ 29,224 36,229
Contract rights under placement fee agreements | Minimum    
Finite-Lived Intangible Assets [Line Items]    
Useful Life (Years) 2 years  
Contract rights under placement fee agreements | Maximum    
Finite-Lived Intangible Assets [Line Items]    
Useful Life (Years) 7 years  
Customer relationships    
Finite-Lived Intangible Assets [Line Items]    
Cost $ 337,946 337,829
Accumulated Amortization 271,429 255,972
Net Book Value $ 66,517 81,857
Customer relationships | Minimum    
Finite-Lived Intangible Assets [Line Items]    
Useful Life (Years) 3 years  
Customer relationships | Maximum    
Finite-Lived Intangible Assets [Line Items]    
Useful Life (Years) 14 years  
Developed technology and software    
Finite-Lived Intangible Assets [Line Items]    
Cost $ 492,703 453,453
Accumulated Amortization 368,247 340,286
Net Book Value $ 124,456 113,167
Developed technology and software | Minimum    
Finite-Lived Intangible Assets [Line Items]    
Useful Life (Years) 1 year  
Developed technology and software | Maximum    
Finite-Lived Intangible Assets [Line Items]    
Useful Life (Years) 7 years  
Patents, trademarks, and other    
Finite-Lived Intangible Assets [Line Items]    
Cost $ 24,794 24,783
Accumulated Amortization 22,924 21,898
Net Book Value $ 1,870 $ 2,885
Patents, trademarks, and other | Minimum    
Finite-Lived Intangible Assets [Line Items]    
Useful Life (Years) 2 years  
Patents, trademarks, and other | Maximum    
Finite-Lived Intangible Assets [Line Items]    
Useful Life (Years) 18 years  
v3.24.3
LONG-TERM DEBT - Schedule of Outstanding Indebtedness (Details) - USD ($)
 9 Months Ended
Sep. 30, 2024
Dec. 31, 2023
Aug. 03, 2021
Debt Instrument [Line Items]      
Total debt $ 980,500,000 $ 986,500,000  
Debt issuance costs and discount (10,183,000) (12,035,000)  
Total debt after debt issuance costs and discount 970,317,000 974,465,000  
Current portion of long-term debt (4,500,000) (6,000,000)  
Total long-term debt, net of current portion 965,817,000 968,465,000  
Senior secured notes | New Revolver      
Debt Instrument [Line Items]      
Principal amount of debt $ 600,000,000 600,000,000 $ 600,000,000
Basis spread 2.50%    
Revolving credit facility | New Revolver      
Debt Instrument [Line Items]      
Total debt $ 0 0  
Principal amount of debt $ 125,000,000    
Basis spread 2.50%    
Senior secured notes      
Debt Instrument [Line Items]      
Total debt $ 580,500,000 586,500,000  
Senior secured notes | Senior secured notes | New Revolver      
Debt Instrument [Line Items]      
Total debt 580,500,000 586,500,000  
Senior unsecured notes | 2021 Unsecured Notes      
Debt Instrument [Line Items]      
Total debt 400,000,000 400,000,000  
Principal amount of debt $ 400,000,000 $ 400,000,000  
Interest rate 5.00%    
v3.24.3
LONG-TERM DEBT - Narrative (Details)
 3 Months Ended 9 Months Ended
Aug. 03, 2021
USD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2024
USD ($)
Dec. 31, 2023
USD ($)
Senior unsecured notes | FinTech Segment        
Debt Instrument [Line Items]        
Principal amount of debt   $ 400,000,000.0 $ 400,000,000.0  
New Credit Facilities        
Debt Instrument [Line Items]        
Basis spread, period one (as a percent) 0.10%      
Basis spread, period two (as a percent) 0.30%      
Basis spread, period three (as a percent) 0.40%      
New Credit Facilities | Secured Overnight Financing Rate (SOFR)        
Debt Instrument [Line Items]        
Floor interest rate 0.50%      
Basis spread 2.50%      
New Credit Facilities | Base Rate        
Debt Instrument [Line Items]        
Basis spread 1.50%      
2017 Unsecured Notes | Senior unsecured notes        
Debt Instrument [Line Items]        
Interest rate   5.00% 5.00%  
Senior secured notes | New Revolver        
Debt Instrument [Line Items]        
Debt term 7 years      
Principal amount of debt $ 600,000,000 $ 600,000,000 $ 600,000,000 $ 600,000,000
Percentage of par amount issued 0.9975      
Basis spread     2.50%  
Revolving credit facility | New Revolver        
Debt Instrument [Line Items]        
Principal amount of debt   $ 125,000,000 $ 125,000,000  
Maximum borrowing capacity $ 125,000,000      
Basis spread     2.50%  
Senior secured term loan facility | New Credit Agreement, dated May 9, 2017        
Debt Instrument [Line Items]        
Weighted average interest rate during period   7.92% 7.94%  
v3.24.3
STOCKHOLDERS' EQUITY (Details) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
May 02, 2024
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
May 03, 2023
Stockholders' Equity Note [Abstract]            
Stock repurchase program, authorized amount           $ 180.0
Stock repurchase program, period in force       18 months    
Repurchase of shares $ 100.0          
Treasury stock acquired (in shares)   0.0 2.4 0.0 5.1  
v3.24.3
WEIGHTED AVERAGE SHARES OF COMMON STOCK (Details) - shares
shares in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Weighted average shares        
Weighted average number of common shares outstanding - basic (in shares) 85,525 87,221 84,609 87,925
Potential dilution from equity awards (in shares) 0 4,024 3,105 5,237
Weighted average number of common shares outstanding - diluted (in shares) 85,525 91,245 87,714 93,162
Anti-dilutive equity awards excluded from computation of earnings per share (in shares) 900 600 800 200
v3.24.3
SHARE-BASED COMPENSATION (Details)
shares in Thousands
 3 Months Ended 9 Months Ended
Jun. 30, 2024
shares
Sep. 30, 2024
shares
Stock Options    
Stock Options    
Outstanding (in shares)   4,804
Granted (in shares)   109
Exercised options (in shares)   (1,390)
Canceled or forfeited (in shares)   (175)
Outstanding (in shares)   3,348
Restricted Stock Units    
Restricted Stock Units    
Outstanding (in shares)   2,464
Granted (in shares)   1,473
Vested (in shares)   (917)
Canceled or forfeited (in shares)   (201)
Outstanding (in shares)   2,819
Common Stock    
Restricted Stock Units    
Number of shares available for grant (in shares)   4,500
Number of additional shares approved 3,600  
v3.24.3
INCOME TAXES (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income Tax Disclosure [Abstract]        
Effective income tax rate 64.20% 18.10% (9.50%) 17.70%
Statutory federal rate 21.00% 21.00% 21.00% 21.00%
Unrecognized tax benefits $ 5.2   $ 5.2  
v3.24.3
SEGMENT INFORMATION - Revenues, Operating Income, and Assets (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Revenues          
Total revenues $ 187,851 $ 206,600 $ 568,387 $ 615,789  
Costs and expenses          
Operating expenses 72,745 61,014 212,726 181,596  
Research and development 18,457 16,120 57,753 48,853  
Depreciation 28,199 19,902 67,877 58,373  
Amortization 16,096 15,202 47,775 43,739  
Total costs and expenses 176,422 154,153 502,145 458,024  
Operating (loss) income 11,429 52,447 66,242 157,765  
Total assets          
Total assets 2,104,571   2,104,571   $ 2,123,870
Reserve for inventory obsolescence     4,588 1,466  
Global Gaming And Play Ditial Business          
Total assets          
Transaction costs 4,600   5,400    
Employee retention costs 2,400   7,800    
Global Gaming And Play Ditial Business, Original Proposed Transaction          
Total assets          
Transaction costs 1,200   16,200    
Games          
Revenues          
Total revenues 91,546 111,538 286,339 332,044  
Costs and expenses          
Total cost of revenues 27,271 28,602 75,948 84,186  
Operating expenses 30,091 22,805 88,060 64,574  
Research and development 12,199 10,065 36,673 31,890  
Depreciation 25,454 17,492 59,756 50,997  
Amortization 11,914 11,153 35,207 32,304  
Total costs and expenses 106,929 90,117 295,644 263,951  
Operating (loss) income (15,383) 21,421 (9,305) 68,093  
Total assets          
Total assets 934,623   934,623   931,322
Accretion of contract rights 2,300 7,000 2,300 7,000  
Reserve for inventory obsolescence 3,500   3,500    
Severance costs 1,400 400 2,100 400  
Write down of property and equipment 6,400   6,400    
Purchase commitment impairment 3,800   3,800    
Other legal fees and expenses (benefit) 100   100    
Office and warehouse consolidation expenses   300   500  
Games | Global Gaming And Play Ditial Business          
Total assets          
Transaction costs 2,100   2,800    
Games | Global Gaming And Play Ditial Business, Original Proposed Transaction          
Total assets          
Transaction costs 1,200 1,400 15,800 1,400  
Employee retention costs 1,300   4,000    
Games | Video King Asset Acquisition          
Total assets          
Other legal fees and expenses (benefit)   100   400  
Games | Gaming operations          
Revenues          
Total revenues 67,158 78,400 211,716 231,490  
Costs and expenses          
Total cost of revenues 12,674 10,363 32,025 25,557  
Total assets          
Reserve for inventory obsolescence 3,000        
Games | Gaming equipment and systems          
Revenues          
Total revenues 24,388 33,138 74,623 100,554  
Costs and expenses          
Total cost of revenues 14,597 18,239 43,923 58,629  
Total assets          
Reserve for inventory obsolescence 500        
FinTech          
Revenues          
Total revenues 96,305 95,062 282,048 283,745  
Costs and expenses          
Total cost of revenues 13,654 13,313 40,066 41,277  
Operating expenses 42,654 38,209 124,666 117,022  
Research and development 6,258 6,055 21,080 16,963  
Depreciation 2,745 2,410 8,121 7,376  
Amortization 4,182 4,049 12,568 11,435  
Total costs and expenses 69,493 64,036 206,501 194,073  
Operating (loss) income 26,812 31,026 75,547 89,672  
Total assets          
Total assets 1,169,948   1,169,948   $ 1,192,548
Severance costs 100 100 200 1,000  
Other legal fees and expenses (benefit) 200 (200) 500 (200)  
Legal fees for debt amendment costs       100  
FinTech | Global Gaming And Play Ditial Business          
Total assets          
Transaction costs 2,500   2,600    
Employee retention costs 1,100   3,800    
FinTech | Global Gaming And Play Ditial Business, Original Proposed Transaction          
Total assets          
Transaction costs 400 200 400 200  
FinTech | Financial access services          
Revenues          
Total revenues 58,494 57,158 173,446 169,032  
Costs and expenses          
Total cost of revenues 2,532 2,925 7,694 8,521  
FinTech | Software and other          
Revenues          
Total revenues 26,958 24,838 77,484 73,048  
Costs and expenses          
Total cost of revenues 3,586 1,484 10,203 4,830  
FinTech | Hardware          
Revenues          
Total revenues 10,853 13,066 31,118 41,665  
Costs and expenses          
Total cost of revenues $ 7,536 $ 8,904 $ 22,169 $ 27,926  
v3.24.3
SEGMENT INFORMATION - Major Customers (Details)
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Five largest customers | Customer risk | Revenue from Contract with Customer        
Revenue, Major Customer [Line Items]        
Concentration risk, percentage 13.60% 14.00% 13.10% 12.30%