$ 807,821

$ 782,519

$ 660,385

161,240

165,322

115,449

260,931

216,959

188,900

67,633

60,527

39,051

78,691

66,801

61,487

60,042

59,558

57,987

628,537

569,167

462,874

Interest expense, net of interest income

179,284

213,352

197,511

Other expenses

77,693

55,752

62,097

Loss on extinguishment of debt

0

34,389

Total other expenses

77,693

55,752

96,486

Income before income tax

101,591

157,600

101,025

Income tax provision (benefit)

17,594

37,111

(51,900)

Net income

83,997

120,489

152,925

Foreign currency translation gain (loss)

730

(2,742)

(264)

Comprehensive income

$ 84,727

$ 117,747

$ 152,661

Earnings per share

Basic (in dollars per share)

$ 0.96

$ 1.33

$ 1.71

Diluted (in dollars per share)

$ 0.91

$ 1.24

$ 1.53

Weighted average common shares outstanding

Basic (in shares)

87,176

90,494

89,284

Diluted (in shares)

91,985

97,507

99,967

Games trade and loans receivable

$ 429,154

$ 436,426

$ 376,729

^[1]

107,396

111,791

81,756

103,666

76,496

70,150

44,365

40,353

26,060

68,833

57,106

53,876

44,201

43,044

42,866

368,461

328,790

274,708

Games trade and loans receivable | Gaming operations

60,693

107,636

102,021

304,132

292,873

272,885

Games trade and loans receivable | Gaming equipment and systems

^[1]

35,205

25,153

21,663

125,022

143,553

103,844

^[1]

72,191

86,638

60,093

FinTech equipment

378,667

346,093

283,656

^[1]

53,844

53,531

33,693

157,265

140,463

118,750

23,268

20,174

12,991

9,858

9,695

7,611

15,841

16,514

15,121

260,076

240,377

188,166

FinTech equipment | Financial access services

118,591

105,716

95,490

225,054

206,860

178,019

FinTech equipment | Software and other

^[1]

11,064

10,186

6,779

99,490

80,232

67,797

FinTech equipment | Hardware

^[1]

6,159

4,125

4,129

54,123

59,001

37,840

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

^[1]

$ 36,621

$ 39,220

$ 22,785

[1]	Exclusive of depreciation and amortization.

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 267,215	$ 293,394
Settlement receivables	441,852	263,745
Trade and other receivables, net of allowances for credit losses of $5,210 and $4,855 at December 31, 2023 and December 31, 2022, respectively	107,933	118,895
Inventory	70,624	58,350
Prepaid expenses and other current assets	43,906	38,822
Total current assets	931,530	773,206
Non-current assets
Property and equipment, net	152,704	133,645
Goodwill	737,804	715,870
Other intangible assets, net	234,138	238,275
Other receivables	29,015	27,757
Deferred tax assets, net	598	1,584
Other assets	38,081	27,906
Total non-current assets	1,192,340	1,145,037
Total assets	2,123,870	1,918,243
Current liabilities
Settlement liabilities	662,967	467,903
Accounts payable and accrued expenses	215,530	217,424
Current portion of long-term debt	6,000	6,000
Total current liabilities	884,497	691,327
Non-current liabilities
Deferred tax liabilities, net	13,762	5,994
Long-term debt, less current portion	968,465	971,995
Other accrued expenses and liabilities	31,004	31,286
Total non-current liabilities	1,013,231	1,009,275
Total liabilities	1,897,728	1,700,602
Commitments and contingencies (Note 14)
Stockholders’ equity
Convertible preferred stock, $0.001 par value, 50,000 shares authorized and no shares outstanding at December 31, 2023 and December 31, 2022, respectively	0	0
Common stock, $0.001 par value, 500,000 shares authorized and 123,179 and 83,738 shares issued and outstanding at December 31, 2023, respectively, and 119,390 and 88,036 shares issued and outstanding at December 31, 2022, respectively	123	119
Additional paid-in capital	560,945	527,465
Retained earnings (accumulated deficit)	62,731	(21,266)
Accumulated other comprehensive loss	(3,467)	(4,197)
Treasury stock, at cost, 39,441 and 31,353 shares at December 31, 2023 and December 31, 2022, respectively	(394,190)	(284,480)
Total stockholders’ equity	226,142	217,641
Total liabilities and stockholders’ equity	$ 2,123,870	$ 1,918,243

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets, Current [Abstract]
Allowances for doubtful accounts	$ 5,210	$ 4,855
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)	123,178,882	119,389,510
Common stock outstanding (in shares)	83,738,000	88,036,000
Treasury stock (in shares)	39,441,000	31,353,000

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities
Net income	$ 83,997	$ 120,489	$ 152,925
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	78,691	66,801	61,487
Amortization	60,042	59,558	57,987
Non-cash lease expense	6,096	4,847	4,401
Amortization of financing costs and discounts	2,854	2,854	3,937
Loss on sale or disposal of assets	1,467	591	1,658
Accretion of contract rights	9,340	9,578	9,318
Provision for credit losses	11,623	10,115	7,540
Deferred income taxes	8,754	32,618	(52,077)
Reserve for inventory obsolescence	1,220	792	2,275
Write-down of assets	13,629	0	0
Loss on extinguishment of debt	0	0	34,389
Stock-based compensation	18,711	19,789	20,900
Adjustment to acquisition contingent consideration	(1,766)	0	0
Other non-cash items	0	0	53
Changes in operating assets and liabilities:
Settlement receivables	(177,947)	(174,604)	(28,624)
Trade and other receivables	91	(30,974)	(37,617)
Inventory	(11,954)	(26,314)	(3,755)
Prepaid expenses and other assets	374	(25,717)	(10,219)
Settlement liabilities	194,878	176,274	118,651
Accounts payable and accrued expenses	(7,870)	25,944	48,401
Placement fee agreements	0	(547)	(31,465)
Net cash provided by operating activities	292,230	272,094	360,165
Cash flows from investing activities
Capital expenditures	(145,108)	(127,568)	(104,708)
Acquisitions, net of cash acquired	(59,405)	(51,450)	(16,000)
Proceeds from sale of property and equipment	206	227	261
Net cash used in investing activities	(204,307)	(178,791)	(120,447)
Cash flows from financing activities
Fees associated with debt transactions — new debt	0	0	(19,797)
Fees associated with debt transactions — prior debt	0	0	(20,828)
Proceeds from exercise of stock options	13,739	1,921	18,251
Treasury stock - equity award activities, net of shares withheld	(8,151)	(11,969)	(9,354)
Treasury stock - repurchase of shares	(100,000)	(84,347)	0
Payment of acquisition contingent consideration	(10,529)	(173)	(9,875)
Net cash used in financing activities	(110,941)	(100,568)	(188,359)
Effect of exchange rates on cash and cash equivalents	461	(1,398)	18
Cash, cash equivalents and restricted cash
Net (decrease) increase for the period	(22,557)	(8,663)	51,377
Balance, beginning of the period	295,063	303,726	252,349
Balance, end of the period	272,506	295,063	303,726
Supplemental cash disclosures
Cash paid for interest	86,528	54,749	51,224
Cash paid for income tax, net of refunds	5,481	4,522	1,062
Supplemental non-cash disclosures
Accrued and unpaid capital expenditures	4,408	3,222	3,690
Transfer of leased gaming equipment to inventory	6,719	9,588	8,782
$600 million Term Loan
Cash flows from financing activities
Proceeds from secured debt	0	0	600,000
Repayments of secured debt	0	0	(735,500)
New Term Loan
Cash flows from financing activities
Repayments of secured debt	(6,000)	(6,000)	(1,500)
Incremental Term Loan
Cash flows from financing activities
Repayments of secured debt	0	0	(124,375)
2021 Unsecured Notes
Cash flows from financing activities
Proceeds from secured debt	0	0	400,000
2017 Unsecured Notes
Cash flows from financing activities
Repayments of secured debt	$ 0	$ 0	$ (285,381)

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock— Series A	Additional Paid-in Capital	(Accumulated Deficit)	Accumulated Other Comprehensive Loss	Treasury Stock
Balance at beginning of period (in shares) at Dec. 31, 2020		111,872
Balance at beginning of period at Dec. 31, 2020	$ (7,898)	$ 112	$ 466,614	$ (294,620)	$ (1,191)	$ (178,813)
Increase (Decrease) in Stockholders' Equity
Net income	152,925			152,925
Dissolution adjustment	(60)			(60)
Foreign currency translation	(264)				(264)
Stock-based compensation expense	20,900		20,900
Exercise of warrants (in shares)		378
Exercise of options (in shares)		3,180
Exercise of options, net of shares withheld	18,251	$ 3	18,248
Restricted share vesting and withholding (in shares)		1,566
Restricted stock vesting, net of shares withheld	(9,354)	$ 2	(5)			(9,351)
Balance at end of period (in shares) at Dec. 31, 2021		116,996
Balance at end of period at Dec. 31, 2021	174,500	$ 117	505,757	(141,755)	(1,455)	(188,164)
Increase (Decrease) in Stockholders' Equity
Net income	120,489			120,489
Foreign currency translation	(2,742)				(2,742)
Stock-based compensation expense	19,789		19,789
Exercise of options (in shares)		333
Exercise of options, net of shares withheld	1,921	$ 0	1,921
Restricted share vesting and withholding (in shares)		2,061
Restricted stock vesting, net of shares withheld	(11,969)	$ 2	(2)			(11,969)
Repurchase of shares	$ (84,347)					(84,347)
Balance at end of period (in shares) at Dec. 31, 2022	88,036	119,390
Balance at end of period at Dec. 31, 2022	$ 217,641	$ 119	527,465	(21,266)	(4,197)	(284,480)
Increase (Decrease) in Stockholders' Equity
Net income	83,997			83,997
Foreign currency translation	730				730
Stock-based compensation expense	18,711		18,711
Exercise of options (in shares)		2,061
Exercise of options, net of shares withheld	13,719	$ 2	14,773			(1,056)
Restricted share vesting and withholding (in shares)		1,728
Restricted stock vesting, net of shares withheld	(8,151)	$ 2	(4)			(8,149)
Repurchase of shares	$ (100,505)					(100,505)
Balance at end of period (in shares) at Dec. 31, 2023	83,738	123,179
Balance at end of period at Dec. 31, 2023	$ 226,142	$ 123	$ 560,945	$ 62,731	$ (3,467)	$ (394,190)

BUSINESS	12 Months Ended
BUSINESS	Dec. 31, 2023
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) Financial Technology Solutions (“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. Macro-Economic Volatility and Global Instability, Employment Constraints and Supply Chain Disruptions We have experienced an impact from macro-economic volatility as a result of inflation, interest rate movements and global instability, particularly as it relates to our supply chain, both from an upstream and downstream perspective, which impacts the delivery of our products; and we continue to evaluate the effects of interest rate movements on our variable rate debt and pricing pressures on our business. We have experienced an impact from employment constraints as a result of inflation that has significantly increased over prior years. This has placed pressure on competitive wages, which has led to increases in wages and other related costs. We have experienced an impact from supply chain disruptions that have resulted in additional costs incurred to develop, produce, and ship our products.

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Principles of Consolidation

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

Business Combinations

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

Cash and Cash Equivalents

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

ATM Funding Agreements

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

For the non-Site-Funded locations, we enter into commercial arrangements with third party vendors to provide us the currency needed for normal operating requirements for our ATMs. For the use of these funds, we pay a cash usage fee based upon the target federal funds rate. Under these agreements, the currency supplied by the third-party vendors remains the sole property of these suppliers until funds are dispensed, at which time the third-party

vendors obtain an interest in the corresponding settlement receivable. As the cash is an asset of these suppliers, it is therefore not reflected on our Balance Sheets. The usage fee for the cash supplied in these ATMs is included as interest expense in the Statements of Operations. Our rationale to record cash usage fees as interest expense is primarily due to the similar operational characteristics to a revolving line of credit, the fact that the fees are calculated on a financial index, and the fees are paid for access to a capital resource.

Settlement Receivables and Settlement Liabilities

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

Warranty Receivables

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

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

Allowance for Credit Losses

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

Inventory

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

Restricted Cash

Our restricted cash primarily consists of: (i) funds held in connection with certain customer agreements; (ii) funds held in connection with a sponsorship agreement; (iii) wide-area progressive (“WAP”)-related restricted funds; and (iv) financial access activities related to cashless balances held on behalf of patrons. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Balance Sheets that sum to the total of the same such amounts shown in the Statements of Cash Flows for the years ended December 31, 2023, 2022, and 2021, respectively (in thousands).


		Year Ended December 31,
	Classification on our Balance Sheets	2023		2022		2021
Cash and cash equivalents	Cash and cash equivalents	$	267,215	$	293,394	$	302,009
Restricted cash — current	Prepaid expenses and other current assets	5,190		1,568		1,616
Restricted cash — non-current	Other assets	101		101		101
Total		$	272,506	$	295,063	$	303,726

Property and Equipment

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

Placement Fee Agreements

Periodically, we enter into long-term agreements with certain gaming establishments to secure the placement of our electronic gaming machines (“EGMs”) on casino floors. Under the terms of these placement fee agreements that we generally pay in full at the start of the term, the Company has the ability to install EGMs on the gaming floor for an extended period of time (i.e., generally multi-year agreements, with our largest agreement covering 83 months) under right to use arrangements. The gaming operations revenues generated as a result of these agreements are reduced by the accretion of contract rights, which represents the related amortization of the contract rights recorded in connection with such agreements. To the extent payments are made for these placement fee agreements to certain gaming establishments, we classify the amounts as cash outflows from operating activities in our Statements of Cash Flows.

Goodwill

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

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

Our reporting units are identified as operating segments or one level below. Reporting units must: (i) engage in business activities from which they earn revenues and incur expenses; (ii) have operating results that are regularly reviewed by our segment management to ascertain the resources to be allocated to the segment and assess its performance; and (iii) have discrete financial information available. As of December 31, 2023, our reporting units included: (i) Games; (ii) Financial Access Services; (iii) Kiosk Sales and Services; (iv) Central Credit Services; (v) Compliance Sales and Services; (vi) Loyalty Sales and Services, and (vii) Mobile Technologies.

Other Intangible Assets

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

Debt Issuance Costs

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

Cost of Revenues (Exclusive of Depreciation and Amortization)

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

Advertising, Marketing, and Promotional Costs

We expense advertising, marketing, and promotional costs as incurred. Total advertising, marketing, and promotional costs, included in operating expenses in the Statements of Operations, were $4.0 million, $3.5 million, and $2.6 million for the years ended December 31, 2023, 2022, and 2021, respectively.

Research and Development Costs

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

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

Research and development costs were $67.6 million, $60.5 million, and $39.1 million for the years ended December 31, 2023, 2022, and 2021, respectively.

Income Taxes

We are subject to income taxes in the United States as well as various states and foreign jurisdictions in which we operate. We account for income taxes in accordance with accounting guidance whereby deferred tax assets and liabilities are recognized for the expected future tax consequences of events that have been included in the financial statements or income tax returns. Deferred tax assets and liabilities are determined based upon differences between financial statement carrying amounts of existing assets and their respective tax bases using enacted tax rates expected to apply to taxable income in years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on the income tax provision and deferred tax assets and liabilities generally is recognized in the results of operations in the period that includes the enactment date. We evaluate the realization of our deferred tax assets based on all available evidence and establish a valuation allowance to reduce deferred tax assets when it is more likely than not that they will not be realized. This assessment considers all available positive and negative evidence, including our past operating results, forecasts of future earnings, the scheduled reversal of deferred tax liabilities, the duration of statutory carryforward periods and tax planning strategies.

We recognize tax benefits from an uncertain position only if it is more likely than not that the position will be sustained upon examination by taxing authorities based on the technical merits of the issue. The amount recognized is the largest benefit that we believe has greater than a 50% likelihood of being realized upon settlement.

Although we believe our assumptions, judgments and estimates are reasonable, changes in tax laws, and their interpretation, as well as the examination of our tax returns by taxing authorities, could significantly impact the amounts provided for income taxes in our consolidated financial statements. Our effective tax rate is affected by a number of factors including the actual results of operations, changes in our stock price for shares issued as employee compensation, changes in the valuation of our deferred tax assets or liabilities and changes in tax laws or rates for income taxes and other non-income taxes in various jurisdictions. The Organization for Economic Cooperation and Development’s (“OECD”) Base Erosion and Profit Shifting project involving negotiations among over 140 countries has the potential to substantially affect international tax policies, including the implementation of a minimum global effective tax rate of 15%. We are not currently subject to these rules as they are only applicable to multinational companies with global revenue of at least EUR 750 million. We will continue to monitor developments in the OECD’s project and policy changes in the countries in which we operate, as our effective tax rate and cash tax payments could increase when we become subject to these rules in future years.

Employee Benefits Plan

The Company provides a 401(k) Plan that allows employees to defer up to the lesser of the Internal Revenue Code prescribed maximum amount or 75% of their income on a pre-tax basis through contributions to the plan. As a benefit to employees, the Company matches a percentage of these employee contributions (as defined in the plan document). Expenses related to the matching portion of the contributions to the 401(k) Plan were $6.3 million, $4.6 million, and $2.6 million for the years ended December 31, 2023, 2022, and 2021, respectively.

Fair Values of Financial Instruments

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

The carrying amount of cash and cash equivalents, restricted cash, settlement receivables, short-term trade and other receivables, settlement liabilities, accounts payable, and accrued expenses approximate fair value due to the short-term maturities of these instruments. The fair value of the long-term trade and loans receivable is estimated by discounting expected future cash flows using current interest rates at which similar loans would be made to borrowers with similar credit ratings and remaining maturities. The fair value of long-term accounts payable is estimated by discounting the total obligation. As of December 31, 2023 and 2022, the fair value of trade and loan receivable approximated the carrying value due to contractual terms generally being slightly over 12 months. The fair value of our borrowings is estimated based on various inputs to determine a market price, such as: market demand and supply, size of tranche, maturity, and similar instruments trading in more active markets.

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


	Level of Hierarchy	Fair Value		Outstanding Balance
December 31, 2023
$600 million Term Loan	2	$	589,433	$	586,500
$400 million 2021 Unsecured Notes	2	$	365,000	$	400,000
December 31, 2022
$600 million Term Loan	2	$	588,560	$	592,500
$400 million 2021 Unsecured Notes	2	$	346,000	$	400,000

The fair values of our borrowings were determined using Level 2 inputs based on quoted market prices for these securities.

Foreign Currency Translation

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

Use of Estimates

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

Earnings Applicable to Common Stock

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

Stock-Based Compensation

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

Our restricted stock awards, restricted stock units, and performance-based stock units, are measured at fair value based on the closing stock price on the grant date, except for certain awards with a share-based payment arrangements priced in relation to similar indexed securities, which are valued using a lattice model. Our time-based stock option awards are measured at fair value on the grant date using the Black Scholes model. The stock-based compensation cost is recognized on a straight-line basis over the vesting period of the awards.

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

Acquisition-Related Costs

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

Reclassification of Balances

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

The Company determined that the placement fee arrangements were previously misclassified in its Statements of Cash Flows. Previously, these placement fee arrangements were reported as cash flows from investing activities, and they should have been presented as cash flows from operating activities for the fiscal years ended December 31, 2022 and 2021. The error has been corrected by adjusting each of the affected financial statement categories for these prior periods. The changes in the prior periods were made to conform to the current period presentation. For additional information, refer to “Item 8 — Financial Statements and Supplementary Data — Notes to Consolidated Financial Statements — Note 20 — Error Correction of an Immaterial Prior Year Misstatement.”

Recent Accounting Guidance

Recently Adopted Accounting Guidance

None.

Recent Accounting Guidance Not Yet Adopted


Standard	Description	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.	January 1, 2024	We are currently evaluating the impact of adopting this ASU on our Financial Statements and our disclosures; however, we do not expect the impact to be material.
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.	January 1, 2025	We are currently evaluating the effect of adopting this ASU on our Financial Statement disclosures.

As of December 31, 2023, other than what has been described above, we do not anticipate recently issued accounting guidance to have a significant impact on our consolidated financial statements.

REVENUES

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

REVENUES

Revenues

Revenue Recognition

Overview

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

Collectability

To assess collectability, we determine whether it is probable that we will collect substantially all of the consideration to which we are entitled in exchange for the goods and services transferred to the customer in

accordance with the terms and conditions of the contract. In connection with these procedures, we evaluate the customer using internal and external information available, including, but not limited to, research and analysis of our credit history with the customer. Based on the nature of our transactions and historical trends, we determine whether our customers have the ability and intention to pay the amounts of consideration when they become due to identify potentially significant credit risk exposure.

Contract Combinations - Multiple Promised Goods and Services

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

Disaggregation of Revenues

We disaggregate revenues based on the nature and timing of the cash flows generated by such revenues as presented in “Note 19 — Segment Information.”

Outbound Freight Costs, Installation and Training

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

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

Costs to Acquire a Contract with a Customer

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

Contract Balances

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

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


	2023		2022
Contract assets(1)
Balance, beginning of period	$	22,417	$	15,221
Balance, end of period	26,635		22,417
Increase	$	4,218	$	7,196

Contract liabilities(2)
Balance, beginning of period	$	53,419	$	36,615
Balance, end of period	51,799		53,419
(Decrease) increase	$	(1,620)	$	16,804

(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 $36.0 million and $27.5 million in revenue that was included in the beginning contract liability balance during 2023 and 2022, 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.

Gaming Operations

We primarily provide: (i) leased gaming equipment, both Class II and Class III offerings, and HHR on a participation and a daily fixed-fee basis, including standard games and hardware and premium games and hardware, inclusive of local-area progressive, and WAP; (ii) accounting and central determinant systems; (iii) digital online gaming activities; and (iv) bingo solutions through consoles, integrated electronic gaming tablets and related systems. We evaluate the recognition of lease revenues based on criteria set forth in ASC 842. Under these arrangements, we retain ownership of the machines installed at customer facilities. We recognize recurring rental income over time based on a percentage of the net win per day generated by the leased gaming equipment or a daily fixed fee based on the timing services are provided. Such revenues are generated daily and are limited to the lesser of the net win per day generated by the leased gaming equipment and the fixed daily fee and the lease payments that have been collected from the lessee.

Gaming operations revenues generated by leased gaming equipment deployed at sites under placement fee agreements for dedicated floor space. The gaming operations revenues generated by these agreements are reduced by the accretion of contract rights, which represents the related amortization recorded in connection with such agreements.

Gaming operations lease revenues accounted for under ASC 842 are generally short-term in nature with payment terms ranging from 30 to 90 days. We recognized $201.9 million, $197.9 million, and $189.8 million in lease revenues for the years ended December 31, 2023, 2022, and 2021, respectively.

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

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

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

Gaming operations also include revenues generated by bingo solutions through consoles, integrated electronic gaming tablets and related systems.

Gaming operations also include other revenues that are generated from fees paid by casino customers that participate in our TournEvent of Champions® national slot tournament or who contract with us to provide certain service functions on games that are owned by the customer.

Gaming Equipment and Systems

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

FinTech Revenues

Financial Access Services

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

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

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

Funds transmitted revenues are primarily comprised of transaction fees assessed to gaming patrons in connection with funds transmitted to a patron’s external bank account or other approved account from a physical device such as our kiosks, or via the CashClub Wallet. In connection with these types of transactions, we report certain direct costs incurred as reductions to revenues on a net basis.

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

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

Software and Other

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

Hardware

Hardware revenues are derived from the sale of our financial access and loyalty kiosks and related equipment and are accounted for under ASC 606, unless such transactions meet definition of a sales type or direct financing lease which are accounted for under ASC 842. Revenues are recognized at a point in time when control of the promised goods and services transfers to the customer generally upon shipment or delivery pursuant to the terms of the contract. The sales contracts are generally short-term in nature with payment terms ranging from 30 to 90 days, while certain agreements provide for extended payment terms of up to 60 months. Each contract containing extended payment terms over a period of 12 months is evaluated for the presence of a financing component; however, our contracts generally do not contain a financing component that has been determined to be significant to the contract.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (e)
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

Business Combination and Asset Acquisition [Abstract]

LEASES

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

LEASES

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

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

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

Lessee

We enter into operating lease agreements for real estate purposes that generally consist of buildings for office space and warehouses for manufacturing purposes. Certain of our lease agreements consist of rental payments that are periodically adjusted for inflation. Our lease agreements do not contain material residual value guarantees or material restrictive covenants. Our lease agreements do not generally provide explicit rates of interest; therefore, we use our incremental collateralized borrowing rate, which is based on a fully collateralized and fully amortizing loan with a maturity date the same as the length of the lease that is based on the information available at the commencement date to determine the present value of lease payments. Leases with an initial expected term of 12 months or less (short-term) are not accounted for on our Balance Sheets. As of December 31, 2023 and December 31, 2022, our finance leases were not material.

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


	Classification on our Balance Sheets	At December 31, 2023		At December 31, 2022
Assets
Operating lease ROU assets	Other assets, non-current	$	27,489	$	17,169
Liabilities
Current operating lease liabilities	Accounts payable and accrued expenses	$	7,079	$	6,507
Non-current operating lease liabilities	Other accrued expenses and liabilities	$	26,930	$	14,738

During the fourth quarter of 2023, the Company commenced a real estate lease with a term of ten years and future minimum lease payments of approximately $27.3 million, which are reflected in the balances above.

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


	Year Ended December 31,
	2023		2022		2021
Cash paid for:
Long-term operating leases	$	7,413	$	6,885	$	6,675
Short-term operating leases	$	2,090	$	1,660	$	1,622
Right-of-use assets obtained in exchange for lease obligations:
Operating leases(1)	$	17,690	$	7,502	$	1,362

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

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


	At December 31, 2023		At December 31, 2022
Weighted Average Remaining Lease Term (in years):
Operating leases	6.71		3.37
Weighted Average Discount Rate:
Operating leases	6.08	%	4.72	%

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


	Year Ended December 31,
	2023		2022		2021
Operating Lease Cost:
Operating lease cost (1)	$	6,786	$	6,008	$	5,474
Variable lease cost	$	1,461	$	1,164	$	1,267

(1) The amount includes approximately $6.1 million, $4.8 million and $4.4 million in non-cash lease expense attributable to amortization of ROU assets for the years ended December 31, 2023, 2022 and 2021, respectively.

Maturities of lease liabilities are summarized as follows as of December 31, 2023 (in thousands):


Year ending December 31,	Amount
2024	$	8,575
2025	8,551
2026	5,012
2027	3,083
2028	2,864
Thereafter	14,816
Total future minimum lease payments	$	42,901
Amount representing interest	8,892
Present value of future minimum lease payments	$	34,009
Current operating lease obligations	7,079
Long-term lease obligations	$	26,930

Lessor

We generate lease revenues primarily from our gaming operations activities, and the majority of our leases are month-to-month leases. Under these arrangements, we retain ownership of the electronic gaming machines (“EGMs”) installed at customer facilities. We receive recurring revenues based on a percentage of the net win per day generated by the leased gaming equipment or a fixed daily fee. Such revenues are generated daily and are limited to the lesser of the net win per day generated by the leased gaming equipment or the fixed daily fee and the lease payments that have been collected from the lessee. Certain of our leases have terms and conditions with options for a lessee to purchase the underlying assets. Refer to “Note 3 — Revenues” for further discussion of lease revenues. We did not have material sales transactions that qualified for sales-type lease accounting treatment during the years ended December 31, 2023 and December 31, 2022.

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


	Classification on our Balance Sheets	At December 31, 2023		At December 31, 2022
Assets
Net investment in sales-type leases — current	Trade and other receivables, net	$	810	$	54

Leases

LEASES

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

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

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

Lessee

We enter into operating lease agreements for real estate purposes that generally consist of buildings for office space and warehouses for manufacturing purposes. Certain of our lease agreements consist of rental payments that are periodically adjusted for inflation. Our lease agreements do not contain material residual value guarantees or material restrictive covenants. Our lease agreements do not generally provide explicit rates of interest; therefore, we use our incremental collateralized borrowing rate, which is based on a fully collateralized and fully amortizing loan with a maturity date the same as the length of the lease that is based on the information available at the commencement date to determine the present value of lease payments. Leases with an initial expected term of 12 months or less (short-term) are not accounted for on our Balance Sheets. As of December 31, 2023 and December 31, 2022, our finance leases were not material.

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


	Classification on our Balance Sheets	At December 31, 2023		At December 31, 2022
Assets
Operating lease ROU assets	Other assets, non-current	$	27,489	$	17,169
Liabilities
Current operating lease liabilities	Accounts payable and accrued expenses	$	7,079	$	6,507
Non-current operating lease liabilities	Other accrued expenses and liabilities	$	26,930	$	14,738

During the fourth quarter of 2023, the Company commenced a real estate lease with a term of ten years and future minimum lease payments of approximately $27.3 million, which are reflected in the balances above.

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


	Year Ended December 31,
	2023		2022		2021
Cash paid for:
Long-term operating leases	$	7,413	$	6,885	$	6,675
Short-term operating leases	$	2,090	$	1,660	$	1,622
Right-of-use assets obtained in exchange for lease obligations:
Operating leases(1)	$	17,690	$	7,502	$	1,362

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

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


	At December 31, 2023		At December 31, 2022
Weighted Average Remaining Lease Term (in years):
Operating leases	6.71		3.37
Weighted Average Discount Rate:
Operating leases	6.08	%	4.72	%

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


	Year Ended December 31,
	2023		2022		2021
Operating Lease Cost:
Operating lease cost (1)	$	6,786	$	6,008	$	5,474
Variable lease cost	$	1,461	$	1,164	$	1,267

(1) The amount includes approximately $6.1 million, $4.8 million and $4.4 million in non-cash lease expense attributable to amortization of ROU assets for the years ended December 31, 2023, 2022 and 2021, respectively.

Maturities of lease liabilities are summarized as follows as of December 31, 2023 (in thousands):


Year ending December 31,	Amount
2024	$	8,575
2025	8,551
2026	5,012
2027	3,083
2028	2,864
Thereafter	14,816
Total future minimum lease payments	$	42,901
Amount representing interest	8,892
Present value of future minimum lease payments	$	34,009
Current operating lease obligations	7,079
Long-term lease obligations	$	26,930

Lessor

We generate lease revenues primarily from our gaming operations activities, and the majority of our leases are month-to-month leases. Under these arrangements, we retain ownership of the electronic gaming machines (“EGMs”) installed at customer facilities. We receive recurring revenues based on a percentage of the net win per day generated by the leased gaming equipment or a fixed daily fee. Such revenues are generated daily and are limited to the lesser of the net win per day generated by the leased gaming equipment or the fixed daily fee and the lease payments that have been collected from the lessee. Certain of our leases have terms and conditions with options for a lessee to purchase the underlying assets. Refer to “Note 3 — Revenues” for further discussion of lease revenues. We did not have material sales transactions that qualified for sales-type lease accounting treatment during the years ended December 31, 2023 and December 31, 2022.

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


	Classification on our Balance Sheets	At December 31, 2023		At December 31, 2022
Assets
Net investment in sales-type leases — current	Trade and other receivables, net	$	810	$	54

BUSINESS COMBINATIONS

12 Months Ended

Dec. 31, 2023

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.

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 and we paid the seller additional consideration of AUD$5.0 million (USD$3.4 million) approximately one year following the eCash Closing Date, with a final expected payment of AUD$6.5 million to be paid 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 quarter ending March 31, 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 expect to make a final payment of $2.6 million 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 quarter ended June 30, 2023.

During the fourth quarter of 2023, we revised our final payment estimate to reflect our current expectation of future operating results, which were negatively impacted by a certain large customer being acquired. As a result, we recorded an adjustment of approximately $1.7 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.

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 quarter ended December 31, 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 and a long-term component payable within two years recorded in other accrued expenses and liabilities in our Balance Sheets. The change in fair value of the contingent consideration between the acquisition date and year ended December 31, 2023 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 within our Games segment. 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 expect to pay approximately $0.2 million related to an indemnity holdback, which is scheduled for release on the eighteen-month anniversary of the Video King Closing Date. The acquisition did not have a significant impact on our results of operations or financial condition.

The total preliminary purchase consideration for Video King was as follows (in thousands, at fair value):


	Amount
Purchase consideration
Cash consideration paid at closing(1)	$	61,013
Cash consideration to be paid post-closing	466
Total purchase consideration	$	61,479

(1) Current assets acquired included approximately $1.9 million in cash.

The transaction was accounted for using the acquisition method of accounting, which requires, among other things, the assets acquired and liabilities assumed be recognized at their respective fair values as of the acquisition date. The excess of the purchase price over those fair values was recorded as goodwill, which will be amortized for tax purposes. The goodwill recognized is primarily attributable to the income potential from the expansion of our footprint in the gaming space by accelerating our entry into and growth in the electronic bingo market and business line, and assembled workforce, among other strategic benefits.

The estimates and assumptions used include the projected timing and amount of future cash flows and discount rates reflecting risk inherent in the future cash flows. The estimated fair values of assets acquired and liabilities assumed and resulting goodwill are subject to adjustment as the Company finalizes its purchase price accounting. The items for which a final fair value has not been determined include, but are not limited to the valuation of intangible assets and deferred income taxes. We do not expect our fair value determinations to materially change; however, there may be differences between the amounts recorded at the Video King Closing Date and the final fair value analysis, which we expect to complete no later than the second quarter of 2024.

The information below reflects the preliminary amounts of identifiable assets acquired and liabilities assumed as of the closing date of the transaction (in thousands):


	Amount
Current assets	$	7,715
Property and equipment	4,485
Other intangible assets	25,770
Goodwill(1)	24,267
Other assets	763
Total Assets	63,000
Accounts payable and accrued expenses	1,193
Other accrued expenses and liabilities	328
Total liabilities	1,521
Net assets acquired	$	61,479

(1) Reflects a measurement period adjustment of approximately $0.2 million from the initial allocation as of the closing date of the transaction.

Current assets acquired included approximately $1.9 million in cash. Trade receivables acquired of approximately $2.0 million were short-term in nature and considered to be collectible, and therefore, the carrying amounts of these assets represented their fair values. Inventory acquired of approximately $3.4 million consisted of raw materials and finished goods and was recorded at fair value based on the estimated net realizable value of these assets. Property, equipment and leased assets acquired were not material, and the carrying amounts of these assets approximated their fair values.

The following table summarizes preliminary values of acquired intangible assets (dollars in thousands):


	Useful Life (Years)	Estimated Fair Value
Other Intangible Assets
Trade name	10	$	950
Developed technology	7	7,300
Customer relationships	14	17,520
Total other intangible assets		$	25,770

The fair value of intangible assets was determined by applying the income approach. Other intangible assets acquired of approximately $25.8 million were comprised of customer relationships, developed technology and trade name. The fair value of customer relationships of approximately $17.5 million was determined by applying the income approach utilizing the excess earnings methodology based on Level 3 inputs in the hierarchy with a discount rate of 14% and estimated attrition rates. The fair value of developed technology of approximately $7.3 million was determined by applying the income approach utilizing the relief from royalty methodology based on Level 3 inputs with a royalty rate of 10% and a discount rate of 14%. The fair value of trade name of approximately $1.0 million was determined by applying the income approach utilizing the relief from royalty methodology based on Level 3 inputs with a royalty rate of 1% and a discount rate of 15%.

The financial results included in our Statements of Operations since the acquisition date and through December 31, 2023 reflected revenues of approximately $18.4 million and net income of approximately $3.6 million. We incurred acquisition-related costs of approximately $0.6 million for the year ended December 31, 2023.

Pro-forma financial information (unaudited)

The acquisition of Video King occurred during the fiscal year ended December 31, 2023, and the unaudited pro forma financial results on a consolidated basis, including the historical operating results of the Company reflected revenue of approximately $817.0 million and net income of approximately $83.0 million for the year ended December 31, 2023.

The unaudited pro forma financial data on a consolidated basis, including the historical operating results of the Company, as if the Video King acquisition occurred on January 1, 2022, reflected revenue of approximately $824.0 million and net income of approximately $109.2 million for the year ended December 31, 2022.

The acquisitions related to eCash, Intuicode and Venuetize occurred in the prior year; therefore, each are included in our Financial Statements for the year ended December 31, 2023.

The unaudited pro forma financial results on a consolidated basis, including the historical operating results of the Company, as if the eCash, Intuicode and Venuetize acquisitions occurred on January 1, 2022, reflected revenue of approximately $797.6 million and net income of approximately $111.4 million for the year ended December 31, 2022.

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.

FUNDING AGREEMENTS	12 Months Ended
FUNDING AGREEMENTS	Dec. 31, 2023
A T M Funding Agreement Disclosure [Abstract]
FUNDING AGREEMENTS	FUNDING AGREEMENTS Commercial Cash Arrangements We have commercial arrangements with third-party vendors to provide cash for certain of our fund dispensing devices. For the use of these funds, we pay a usage fee on either the average daily balance of funds utilized multiplied by a contractually defined usage rate or the amounts supplied multiplied by a contractually defined usage rate. These fund usage fees, reflected as interest expense within the Statements of Operations, were approximately $20.4 million, $9.3 million, and $4.0 million for the years ended December 31, 2023, 2022, and 2021, 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 $388.5 million and $444.6 million as of December 31, 2023 and 2022, 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 years ended December 31, 2023, 2022, and 2021. Site-Funded ATMs We operate ATMs at certain gaming operators’ establishments where the gaming operator provides the cash required for the ATMs’ operational needs. We are required to reimburse the customer for the amount of cash dispensed from these site-funded ATMs. The site-funded ATM liability included within settlement liabilities in the accompanying Balance Sheets was approximately $483.7 million and $337.6 million as of December 31, 2023 and 2022, respectively. Third-Party Funded ATMs We enter into agreements with international customers for certain of our ATMs whereby we engage with third-parties to provide the cash required to operate the ATMs. The amount of cash supplied by these third-parties is included within settlement liabilities in the accompanying Balance Sheets. The outstanding balances in connection with these arrangements were immaterial at December 31, 2023 and 2022. Pre-Funded Financial Access Agreements Due to regulatory requirements in certain jurisdictions, some international gaming operators require pre-funding of cash to cover the outstanding settlement amounts in order for us to provide financial access services to their properties. We enter into agreements with these gaming operators for which we supply our financial access services to their properties. Under these agreements, we maintain sole discretion to either continue or cease operations as well as discretion over the amounts pre-funded to the properties and may request amounts to be refunded to us, with appropriate notice to the operator, at any time. The initial pre-funded amounts and subsequent amounts from the settlement of transactions are deposited into a bank account that is to be used exclusively for financial access services, and we maintain the right to monitor the transaction activity in that account. The total amount of pre-funded cash outstanding was approximately $3.6 million and $3.0 million at December 31, 2023 and 2022, respectively, and is included in prepaid expenses and other current assets line on our Balance Sheets.

TRADE AND OTHER RECEIVABLES

12 Months Ended

Dec. 31, 2023

Receivables [Abstract]

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 December 31,
	2023		2022
Trade and other receivables, net
Games trade and loans receivable	$	66,044	$	78,200
FinTech trade and loans receivable	39,795		39,925
Contract assets (1)	26,635		22,417
Other receivables	4,474		6,110

Total trade and other receivables, net	136,948		146,652

Non-current portion of receivables
Games trade and loans receivable	480		1,382
FinTech trade and loans receivable	15,551		16,519
Contract assets (1)	12,984		9,856

Total non-current portion of receivables	29,015		27,757

Total trade and other receivables, current portion	$	107,933	$	118,895

(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 years ended December 31, 2023 and 2022 is as follows (in thousands):


	At December 31,
	2023		2022
Beginning allowance for credit losses	$	(4,855)	$	(5,161)
Provision	(11,623)		(10,115)
Charge-offs and recoveries	11,268		10,421
Ending allowance for credit losses	$	(5,210)	$	(4,855)

INVENTORY

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

INVENTORY

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

Inventory consisted of the following (in thousands):


	At December 31,
	2023		2022
Inventory
Component parts, net of reserves of $3,144 and $2,919 at December 31, 2023 and December 31, 2022, respectively	$	59,632	$	48,688
Work-in-progress	1,147		323
Finished goods	9,845		9,339
Total inventory	$	70,624	$	58,350

PREPAID EXPENSES AND OTHER ASSETS

12 Months Ended

Dec. 31, 2023

Prepaid Expense and Other Assets [Abstract]

PREPAID EXPENSES AND OTHER ASSETS

Prepaid expenses and other assets include the balance of prepaid expenses, deposits, debt issuance costs on our Revolver (as defined below “Note 13 — Long-Term Debt”), restricted cash, operating lease ROU assets, and other assets. The current portion of these assets is included in prepaid expenses and other current assets and the non-current portion is included in other assets, both of which are contained within our Balance Sheets.

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


	At December 31,
	2023		2022
Prepaid expenses and other current assets
Prepaid expenses	$	25,608	$	21,197
Deposits	10,530		13,749
Restricted cash(1)	5,190		1,568
Other	2,578		2,308
Total prepaid expenses and other current assets	$	43,906	$	38,822

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

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


	At December 31,
	2023		2022
Other assets
Operating lease ROU assets	$	27,489	$	17,169
Prepaid expenses and deposits	9,429		9,164
Debt issuance costs of revolving credit facility	993		1,377
Other	170		196
Total other assets	$	38,081	$	27,906

PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

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


		At December 31, 2023						At December 31, 2022
	Useful Life (Years)	Cost		Accumulated Depreciation		Net Book Value		Cost		Accumulated Depreciation		Net Book Value
Property and equipment
Rental pool - deployed	2-5	$	308,438	$	218,110	$	90,328	$	279,524	$	188,369	$	91,155
Rental pool - undeployed	2-5	39,578		29,770		9,808		30,378		23,930		6,448
FinTech equipment	1-5	32,719		21,911		10,808		36,442		24,167		12,275
Leasehold and building improvements	Lease Term	19,271		4,887		14,384		13,666		10,689		2,977
Machinery, office, and other equipment	1-5	63,857		36,481		27,376		55,246		34,456		20,790
Total		$	463,863	$	311,159	$	152,704	$	415,256	$	281,611	$	133,645

Depreciation expense related to property and equipment totaled approximately $78.7 million, $66.8 million, and $61.5 million for the years ended December 31, 2023, 2022, and 2021, respectively.

GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

Goodwill represents the excess of the purchase price over the identifiable tangible and intangible assets acquired plus liabilities assumed arising from business combinations. The balance of goodwill was approximately $737.8 million and $715.9 million at December 31, 2023 and 2022, respectively. We have the following reporting units: (i) Games; (ii) Financial Access Services; (iii) Kiosk Sales and Services; (iv) Central Credit Services; (v) Compliance Sales and Services; (vi) Loyalty Sales and Services; and (vii) Mobile Technologies.

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

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

In connection with our annual goodwill impairment testing process for 2023 and 2022, we determined that no impairment adjustments were necessary for each of our reporting units.

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


	Games	Financial Access Services	Kiosk Sales and Services	Central Credit Services	Compliance Sales and Services	Loyalty Sales and Services	Mobile Technologies	Total
Goodwill
Balance, December 31, 2021	$449,041	$157,090	$5,745	$17,127	$12,265	$41,395	$—	$682,663
Foreign currency translation	—	(41)	(661)	—	—	—	—	(702)
Acquisition related adjustments	12,402	—	10,776	—	(129)	—	10,860	33,909
Balance, December 31, 2022	$461,443	$157,049	$15,860	$17,127	$12,136	$41,395	$10,860	$715,870
Foreign currency translation	—	14	(819)	—	—	—	—	(805)
Acquisition related adjustments	22,932	—	2,925	—	—	—	(1,245)	24,612
Subsequent recognition of deferred tax assets	—	(1,873)	—	—	—	—	—	(1,873)
Balance, December 31, 2023	$484,375	$155,190	$17,966	$17,127	$12,136	$41,395	$9,615	$737,804

Other Intangible Assets

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


		At December 31, 2023						At December 31, 2022
	Useful Life (Years)	Cost		Accumulated Amortization		Net Book Value		Cost		Accumulated Amortization		Net Book Value
Other intangible assets
Contract rights under placement fee agreements	2-7	$	57,821	$	21,592	$	36,229	$	57,821	$	12,252	$	45,569
Customer relationships	3-14	337,829		255,972		81,857		331,999		233,150		98,849
Developed technology and software	1-7	453,453		340,286		113,167		401,087		309,285		91,802
Patents, trademarks, and other	2-18	24,783		21,898		2,885		22,334		20,279		2,055
Total		$	873,886	$	639,748	$	234,138	$	813,241	$	574,966	$	238,275

Amortization expense related to other intangible assets totaled approximately $60.0 million, $59.6 million, and $58.0 million for the years ended December 31, 2023, 2022, and 2021, respectively. We capitalized $49.4 million, $46.3 million, and $30.2 million of internally-developed software costs for the years ended December 31, 2023, 2022, and 2021, respectively.

Placement fees are allocated to intangible assets and are generally amortized over the term of the contract, which is recorded as a reduction of revenue generated from the facility. In the past we have, and in the future, we may, by mutual agreement, amend the agreements to reduce our floor space at these facilities.

We paid approximately $0.5 million and $31.5 million in placement fees for the years ended December 31, 2022, and 2021, respectively. In September 2021, we entered into a placement fee agreement with a customer for certain of its locations for approximately $28.9 million, which we settled in October 2021. There were no imputed interest amounts recorded in connection with these payments for the years ended December 31, 2022 and 2021, respectively. There were no placement fees paid for the year ended December 31, 2023.

On a quarterly basis, we evaluate our other intangible assets for potential impairment as part of our review process. During the fourth quarter of 2023, we recorded a partial write-down of the definite-lived customer relationships intangible asset associated with our acquisition of Intuicode, reflected in the Games segment. The impairment loss of approximately $11.7 million was included within Operating Expenses of our Statements of Operations. We determined this asset was impaired by comparing its carrying value to our revised estimate of discounted future cash flows, which were negatively impacted by a certain large customer being acquired that generated lower than anticipated operating results. The customer relationships intangible asset was valued using Level 3 fair value inputs and had a revised cost basis of $0.5 million and a remaining life of five years at December 31, 2023.

There was no material impairment identified for any of our other intangible assets for the years ended December 31, 2022 and 2021.

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


Anticipated amortization expense	Amount
2024	$	61,061
2025	44,143
2026	32,446
2027	13,755
2028	4,897
Thereafter	16,545
Total (1)	$	172,847

(1) For the year ended December 31, 2023, the Company had $61.3 million in other intangible assets that had not yet been placed into service.

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

12 Months Ended

Dec. 31, 2023

Payables and Accruals [Abstract]

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

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


	At December 31,
	2023		2022
Accounts payable and accrued expenses
Customer commissions payable	74,376		65,387
Contract liabilities	51,395		50,872
Accounts payable - trade	30,261		29,645
Payroll and related expenses	14,367		24,335
Accrued interest	9,616		9,451
Financial access processing and related expenses	8,670		7,829
Operating lease liabilities	7,079		6,507
Accrued income taxes	6,367		3,673
Contingent consideration and acquisition-related liabilities (1)	5,623		12,030
Other	7,776		7,695

Total accounts payable and accrued expenses	$	215,530	$	217,424

(1) Refer to “Note 5 — Business Combinations” for discussion on contingent consideration and acquisition-related liabilities.

LONG-TERM DEBT

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

LONG-TERM DEBT

The following table summarizes our indebtedness (in thousands):


	Maturity	Interest	At December 31,
	Date	Rate	2023		2022
Long-term debt
$600 million Term Loan	2028	SOFR+2.50%	$	586,500	$	592,500
$125 million Revolver	2026	SOFR+2.50%	—		—
Senior Secured Credit Facilities			586,500		592,500
$400 million 2021 Unsecured Notes	2029	5.00%	400,000		400,000
Total debt			986,500		992,500
Debt issuance costs and discount			(12,035)		(14,505)
Total debt after debt issuance costs and discount			974,465		977,995
Current portion of long-term debt			(6,000)		(6,000)
Total long-term debt, net of current portion			$	968,465	$	971,995

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 (the “Closing Date”), among the Company, the lenders party thereto and Jefferies Finance LLC, as administrative agent, collateral agent, swing line lender and a letter of credit issuer (the “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 Second Amendment did not have a material impact on our Financial Statements.

We elected the optional expedient to account for the modification to our Credit Facilities in accordance with ASC 470 as the modification was not substantial.

Legal fees were expensed as incurred in connection with the Amendment are reflected in operating expenses within the Statements of Operations for the period ended December 31, 2023.

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

adjustment recorded as interest expense that varies for the applicable interest period, with an adjustment for interest periods of one month of 0.1%, an adjustment for interest periods of two months of 0.3% and an adjustment for interest periods of three months of 0.4%.

The Revolver is available for general corporate purposes, including permitted acquisitions, working capital and the issuance of letters of credit. Borrowings under the Revolver are subject to the satisfaction of customary conditions, including the absence of defaults and the accuracy of representations and warranties. Our Revolver remained fully undrawn as of December 31, 2023.

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

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

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

The weighted average interest rate on the Term Loan was 7.59% for the year ended December 31, 2023.

Senior Unsecured Notes

Our Senior Unsecured Notes (the “2021 Unsecured Notes”) due 2029 had an outstanding balance of $400 million as of December 31, 2022, for which interest accrues at a rate of 5.00% per annum and is payable semi-annually in arrears on each January 15 and July 15.

The fees associated with the 2021 Unsecured Notes included debt issuance costs of approximately $5.9 million incurred during the year ended December 31, 2021.

Compliance with Debt Covenants

We were in compliance with the covenants and terms of the Credit Facilities and the 2021 Unsecured Notes as of December 31, 2023.

Principal Repayments

The maturities of our borrowings at December 31, 2023 are as follows (in thousands):


	Amount
Maturities of borrowings
2024	$	6,000
2025	6,000
2026	6,000
2027	6,000
2028	562,500
Thereafter	400,000
Total	$	986,500

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES We are involved in various legal proceedings in the ordinary course of our business. While we believe resolution of the claims brought against us, both individually and in the aggregate, will not have a material adverse impact on our financial condition or results of operations, litigation of this nature is inherently unpredictable. Our views on these legal proceedings, including those described below, may change in the future. We intend to vigorously defend against these actions, and ultimately believe we should prevail. Legal Contingencies We evaluate matters and record an accrual for legal contingencies when it is both probable that a liability has been incurred and the amount or range of the loss may be reasonably estimated. We evaluate legal contingencies at least quarterly and, as appropriate, establish new accruals or adjust existing accruals to reflect: (i) the facts and circumstances known to us at the time, including information regarding negotiations, settlements, rulings, and other relevant events and developments; (ii) the advice and analyses of counsel; and (iii) the assumptions and judgment of management. Legal costs associated with such proceedings are expensed as incurred. Due to the inherent uncertainty of legal proceedings as a result of the procedural, factual, and legal issues involved, the outcomes of our legal contingencies could result in losses in excess of amounts we have accrued. We did not have any new material legal matters that were accrued as of December 31, 2023. 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, 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. Trial is set on May 28, 2025. 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 and the matter is now pending in the District Court of Nevada, Clark County. On October 20, 2023, the Clark County Court entered an Order denying Everi’s Motion to Dismiss. Thereafter, Everi filed a Petition for Writ of Mandamus with the Nevada Supreme Court appealing the Clark County court’s ruling. On December 15, 2023, the Nevada Supreme Court denied Everi’s Petition for Writ of Mandamus. Discovery is underway and the Clark County Court has scheduled a mandatory pre-trial case conference for March 31, 2024. 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. In addition, we have commitments with respect to certain lease obligations discussed in “Note 4 — Leases” and installment payments under our asset purchase agreements discussed in “Note 5 — Business Combinations.”

STOCKHOLDER'S EQUITY	12 Months Ended
STOCKHOLDER'S EQUITY	Dec. 31, 2023
Stockholders' Equity Note [Abstract]
STOCKHOLDER'S EQUITY	STOCKHOLDERS’ EQUITY On May 3, 2023, our Board of Directors authorized and approved a new share repurchase program in an amount not to exceed $180.0 million pursuant to which we may 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. The actual number of shares to be purchased will depend upon market conditions and is subject to available liquidity, general market and economic conditions, alternative uses for the capital and other factors. All shares purchased will be held in the Company’s treasury for possible future use. There is no minimum number of shares that the Company is required to repurchase, and the program may be suspended or discontinued at any time without prior notice. This new repurchase program supersedes and replaces, in its entirety, the previous share repurchase program approved in May 2022 for up to $150 million. There were approximately 7.5 million and 5.0 million shares repurchased at an average price of $13.40 and $16.93 per share for an aggregate amount of $100.0 million and $84.3 million during the years ended December 31, 2023 and 2022, respectively. The remaining availability under the May 2023 $180.0 million share repurchase program was $80.0 million as of December 31, 2023. Preferred Stock. Our amended and restated certificate of incorporation, as amended, allows our Board of Directors, without further action by stockholders, to issue up to 50,000,000 shares of preferred stock in one or more series and to fix the designations, powers, preferences, privileges and relative participating, optional, or special rights as well as the qualifications, limitations or restrictions of the preferred stock, including dividend rights, conversion rights, voting rights, terms of redemption and liquidation preferences. As of December 31, 2023 and 2022, we had no shares of preferred stock outstanding. Common Stock. Subject to the preferences that may apply to shares of preferred stock that may be outstanding at the time, the holders of outstanding shares of common stock are entitled to receive dividends out of assets legally available at the times and in the amounts as our Board of Directors may from time to time determine. All dividends are non-cumulative. In the event of the liquidation, dissolution or winding up of Everi, the holders of common stock are entitled to share ratably in all assets remaining after the payment of liabilities, subject to the prior distribution rights of preferred stock, if any, then outstanding. Each stockholder is entitled to one vote for each share of common stock held on all matters submitted to a vote of stockholders. Cumulative voting for the election of directors is not provided for. The common stock is not entitled to preemptive rights and is not subject to conversion or redemption. There are no sinking fund provisions applicable to the common stock. Each outstanding share of common stock is fully paid and non-assessable. As of December 31, 2023 and 2022, we had 123,178,882 and 119,389,510 shares of common stock issued, respectively. Treasury Stock. In addition to open market purchases of common stock authorized under the Share Repurchase Program, employees may direct us to withhold vested shares of restricted stock to satisfy the maximum statutory withholding requirements applicable to their restricted stock vesting. We repurchased or withheld from restricted stock awards 0.6 million and 0.7 million shares of common stock at an aggregate purchase price of approximately $9.2 million and $12.0 million for the years ended December 31, 2023 and 2022, respectively, to satisfy the maximum applicable tax withholding obligations related to the vesting of such restricted stock awards.

The entire disclosure for equity.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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WEIGHTED AVERAGE SHARES OF COMMON STOCK

WEIGHTED AVERAGE SHARES OF COMMON STOCK

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

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


	At December 31,
	2023	2022	2021
Weighted average shares
Weighted average number of common shares outstanding — basic	87,176	90,494	89,284
Potential dilution from equity awards (1)	4,809	7,013	10,683
Weighted average number of common shares outstanding — diluted (1)	91,985	97,507	99,967

(1) There were 0.3 million and 0.1 million shares that were anti-dilutive under the treasury stock method for the years ended December 31, 2023 and 2022, respectively. There were an immaterial amount of shares that were anti-dilutive under the treasury stock method for the year ended December 31, 2021.

SHARE-BASED COMPENSATION

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

SHARE-BASED COMPENSATION

Equity Incentive Awards

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

Generally, we grant the following types of awards: (i) restricted stock units with either time- or performance-based criteria; 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, 2022	6,793	2,709
Granted	103	1,555
Exercised options or vested shares	(2,061)	(1,728)
Canceled or forfeited	(31)	(72)
Outstanding, December 31, 2023	4,804	2,464

There are approximately 2.1 million awards of our common stock available for future equity grants under our existing equity incentive plan.

Stock Options

The fair value of our standard time-based options was determined as of the date of grant using the Black-Scholes option pricing model. The assumptions used included a 3.5% and 2.9% risk-free interest rate, an expected life of 5.1 years and 4.9 years, historical volatility of 55.4% and 55.7%, and no expected dividend yield for options granted for the years ended December 31, 2023 and 2022, respectively. There were no time-based options granted for the years ended December 31, 2021.

Our time-based stock options granted under our equity plans generally vest at a rate of either 33% or 25% per year on each of the first three or four anniversaries of the grant dates, and expire after a ten-year period.

The following table presents the options activity:


	Number of Options (in thousands)	Weighted Average Exercise Price (per Share)		Weighted Average Life Remaining (Years)	Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2022	6,793	$	5.01	2.8	$	63,604
Granted	103	15.12
Exercised	(2,061)	7.17
Canceled or forfeited	(31)	8.32
Outstanding, December 31, 2023	4,804	4.28		2.6	34,350
Vested and expected to vest after, December 31, 2023	4,794	4.26		2.6	34,350
Exercisable, December 31, 2023	4,654	$	3.92	2.4	$	34,350

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


				Options Outstanding				Options Exercisable
				Number Outstanding	Weighted Average Remaining Contract Life	Weighted Average Exercise		Number Exercisable	Weighted Average Exercise
Range of Exercise Prices				(in thousands)	(Years)	Prices		(in thousands)	Price
$	1.46	$	1.46	985	2.4	$	1.46	985	$	1.46
1.57		2.78		649	2.3	2.60		649	2.60
3.29		3.29		1,812	3.2	3.29		1,812	3.29
6.30		7.74		1,142	1.1	7.34		1,142	7.34
7.88		16.69		216	8.0	14.45		66	11.75
				4,804				4,654

The total intrinsic value of options exercised was $18.3 million, $4.9 million, and $46.5 million for the years ended December 31, 2023, 2022, and 2021, respectively.

The unrecognized non-cash compensation expense related to options expected to vest as of December 31, 2023 was $0.8 million which is expected to be recognized on a straight-line basis over a weighted average period of 2.1 years. The unrecognized non-cash compensation expense related to options expected to vest as of December 31, 2022 and 2021 was not material.

We recorded approximately $0.4 million, $0.1 million and $0.3 million in non-cash compensation expense related to options granted that were expected to vest as of December 31, 2023, 2022 and 2021, respectively. We received approximately $14.0 million, $1.9 million and $18.2 million in cash proceeds from the exercise of options during 2023, 2022 and 2021, respectively.

Restricted Stock Units

The fair value of our restricted stock units awarded is based on the closing stock price of our common stock at the date of grant, except for certain awards with a share-based payment arrangements priced in relation to similar indexed securities. Awards with share-based payment arrangements priced in relation to similar indexed securities fair values were determined using a lattice model. The assumptions used include a risk-free interest rate of 3.7%, a useful life term of 2.7 years, historical volatility of 48.4%, and no expected dividend yield for those certain awards with a share based payment arrangement priced in relation to similar indexed securities granted for the year ended December 31, 2023. There were no awards with a share-based payment arrangements priced in relation to similar indexed securities for the years ended December 31, 2022 and 2021, respectively.

Time-based Awards

The time-based restricted stock units (“RSUs”) granted to executives and the employee base, during 2023, 2022 and 2021, generally vest at a rate of either 33% per year on each of the first three anniversaries of the dates of grant, or 100% on the anniversary of grant date ending after either 1 year, 2 years or 3 years.

The RSUs granted to independent members of our Board of Directors, during 2023, 2022 and 2021, vest on the one-year anniversary of the date of grant and settle on the earliest of the following events: (i) ten-year anniversary of the date of grant; (ii) death; (iii) the occurrence of a Change in Control (as defined in the Equity Incentive Plan), subject to qualifying conditions; or (iv) the date that is six months following the separation from service, subject to qualifying conditions.

Performance-based Awards

The performance-based restricted stock units (“PSUs”) granted during 2023 will be evaluated by the Compensation Committee of our Board of Directors after a performance period, beginning on the date of grant through December 31, 2025, based on total operating income and modified based on the Company’s total

stockholder return ranking over the performance period in comparison to the Russel 3000 Index. To the extent the performance criteria of the metrics are approved, the eligible awards will become vested on the third anniversary of the date of grant. We record stock-based compensation expense over the required service period based on the amount of shares expected to vest pursuant to the achievement measures associated with the performance award.

The performance-based restricted stock units (“PSUs”) granted during 2022 will be evaluated by the Compensation Committee of our Board of Directors after a performance period, beginning on the date of grant through December 31, 2024, based on certain revenue and adjusted operating cash flow growth rate metrics, with achievement of each measure to be determined independently of one another. To the extent the performance criteria of the metrics are approved, the eligible awards will become vested on the third anniversary of the date of grant. We record stock-based compensation expense over the required service period based on the amount of shares expected to vest pursuant to the achievement measures associated with the performance award.

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

The following table presents our RSU and PSU awards activity:


	Shares Outstanding (in thousands)	Weighted Average Grant Date Fair Value (per Share)		Weighted Average Life Remaining (Years)	Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2022	2,709	$	13.46	0.9	$	38,850
Granted	1,555	13.34
Vested	(1,728)	9.77
Forfeited	(72)	16.59
Outstanding, December 31, 2023	2,464	15.88		1.2	27,747
Vested and expected to vest after, December 31, 2023	2,081	$	16.47	1.1	$	23,453

There was approximately $20.0 million in unrecognized compensation expense related to the awards expected to vest as of December 31, 2023. This cost is expected to be recognized on a straight-line basis over a weighted average period of 1.5 years. We recorded approximately $18.3 million in non-cash compensation expense related to these awards for the year ended December 31, 2023.

There were approximately 1.3 million and 1.0 million shares of these awards granted for the years ended December 31, 2022 and 2021, respectively. The weighted average grant date fair value per share of these awards granted was $16.08 and $6.08 for the years ended December 31, 2022 and 2021, respectively. There were 2.1 million and 1.6 million RSU awards that vested during the years ended December 31, 2022 and 2021, respectively. There was approximately $20.1 million and $23.3 million unrecognized compensation expense related to these awards expected to vest as of December 31, 2022 and 2021, respectively. This cost was expected to be recognized on a straight-line basis over a weighted average period of 1.2 years and 1.4 years, respectively. We recorded approximately $19.7 million and $20.6 million in non-cash compensation expense related to RSU awards for the years ended December 31, 2022 and 2021, respectively.

INCOME TAXES

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES

Provision (Benefit) for Income Taxes

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


	Year Ended December 31,
	2023		2022		2021
Consolidated income (loss) before tax
Domestic	$	104,798	$	157,510	$	100,232
Foreign	(3,207)		90		793
Total	$	101,591	$	157,600	$	101,025

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


	Year Ended December 31,
	2023		2022		2021
Income tax provision (benefit)
Domestic	$	17,760	$	36,440	$	(51,923)
Foreign	(166)		671		23
Total income tax provision (benefit)	$	17,594	$	37,111	$	(51,900)
Income tax provision (benefit)
Current	$	8,634	$	4,446	$	177
Deferred	8,960		32,665		(52,077)
Total income tax provision (benefit)	$	17,594	$	37,111	$	(51,900)

Effective Tax Rate

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


	Year Ended December 31,
	2023		2022		2021
Income tax reconciliation
Federal statutory rate	21.0	%	21.0	%	21.0	%
Foreign provision	(0.4)	%	(0.1)	%	—	%
State/province income tax	3.3	%	3.3	%	3.5	%
Compensation deduction limitations	2.1	%	2.9	%	2.5	%
Stock-based compensation expense	(4.5)	%	(2.5)	%	(10.6)	%
Adjustments to carrying values	1.9	%	0.3	%	1.7	%
Research and development credit	(6.7)	%	(2.2)	%	(2.3)	%
Valuation allowance(1)	1.1	%	—	%	(67.2)	%
Global intangible low-taxed income(2)	—	%	0.4	%	0.1	%
Non-deductible expenses - other	0.2	%	—	%	0.1	%
Other	(0.7)	%	0.4	%	(0.2)	%
Effective tax rate	17.3	%	23.5	%	(51.4)	%

(1) We removed the full valuation allowance in the federal and certain state jurisdictions in the fourth quarter of 2021 and placed a full valuation allowance on Australia in the fourth quarter of 2023.

(2) We had no global intangible low-taxed income inclusion in 2023 due to the high tax exception in some foreign jurisdictions and losses in others.

Deferred Income Taxes

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


	At December 31,
	2023		2022		2021
Deferred income tax assets related to:
Net operating losses	$	5,171	$	27,901	$	84,619
Tax credits	17,570		18,467		14,688
Capitalized research expenditures(1)	27,534		15,705		—
Accrued and prepaid expenses	9,989		10,481		11,284
Stock compensation expense	5,427		6,041		6,210
Accounts receivable allowances	1,293		1,204		1,275
Other	1,798		1,841		913
Valuation allowance	(1,818)		(739)		(804)
Total deferred income tax assets	$	66,964	$	80,901	$	118,185
Deferred income tax liabilities related to:
Other intangible assets	$	49,234	$	57,487	$	59,156
Property and equipment	24,755		23,352		23,610
Long-term debt	—		—		7
Other	6,139		4,472		3,291
Total deferred income tax liabilities	$	80,128	$	85,311	$	86,064
Deferred income taxes, net	$	(13,164)	$	(4,410)	$	32,121

(1) As required by the 2017 Tax Cuts and Jobs Act, effective January 1, 2022, our research and development expenditures were capitalized and amortized, which resulted in higher taxable income for 2023 and 2022 with an equal amount of deferred tax benefit.

Net Operating Losses (“NOLs”) and Tax Credits Carry-forwards

We had no accumulated federal NOLs as of December 31, 2023.

We had tax effected state NOL carry-forwards of approximately $4.1 million as of December 31, 2023, which will expire between 2025 and 2041. The determination and utilization of these state NOL carry-forwards are dependent upon apportionment percentages and other respective state laws, which may change from year to year. As of December 31, 2023, approximately $0.6 million of our valuation allowance relates to certain state NOL carry-forwards that we estimate are not more likely than not to be realized.

We had tax effected Australia NOL carry-forwards of approximately $1.1 million as of December 31, 2023, which can be carried forward indefinitely. As of December 31, 2023, there is a full valuation allowance on our Australia net deferred tax assets as we do not believe these assets are more-likely-than-not to be realized.

We had approximately $17.1 million, tax effected, of federal research and development credit carry-forwards as of December 31, 2023. The research and development credits are limited to a 20-year carry-forward period and will expire starting in 2037. We also had approximately $0.5 million, tax effected, of federal solar tax credit carry-forward as of December 31, 2023. The solar tax credit is limited to a 22-year carry-forward period and will expire in 2045, at which time, one-half of any unused credit can be deducted.

Deferred Tax Assets - Valuation Allowance Assessment

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

both positive and negative, with greater weight placed on information that is objectively verifiable such as historical performance.

During the fourth quarter of 2023, we placed a full valuation allowance of $1.1 million on the Australia net deferred tax assets, among other foreign items, as we do not believe these assets meet the more-likely-than-not criteria for recognition. In evaluating our ability to realize these net deferred tax assets, we evaluated negative evidence noting that for the three-year period then ended, we reported a cumulative net loss in Australia. Pursuant to accounting guidance, a cumulative loss in recent years is a significant piece of negative evidence that must be considered and is difficult to overcome without sufficient objectively verifiable, positive evidence. We will reassess the realization of deferred tax assets each reporting period, and to the extent our financial results in Australia improve and it becomes more-likely-than-not the deferred tax assets are realizable, we will be able to reduce the valuation allowance in such period, as appropriate.

Based on an evaluation of the then-available positive and negative evidence, we determined it was appropriate to establish a full valuation allowance on our federal and states deferred tax assets as of December 31, 2016. At that time, and in subsequent quarters, negative evidence, including three years of cumulative losses, outweighed the positive evidence. However, as of December 31, 2021, our U.S. operations emerged from a three-year cumulative loss position. Based on our analysis, we removed the full valuation allowance in the federal and certain state jurisdictions, contributing to a $67.9 million reduction in our valuation allowance in 2021. The significant positive evidence in our analysis included: improvements in profitability, product mix, capital levels, credit metrics, a stabilizing economy and future longer-term forecasts showing sustained profitability. We continue to believe the positive evidence outweighs the negative evidence as of December 31, 2023, and it is more likely than not that these deferred tax assets will be realized.

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


	At December 31,
	2023		2022		2021
Balance at beginning of period	$	739	$	804	$	68,746
Valuation allowance - (reversal) charge	1,079		(65)		(67,942)

Balance at end of period	$	1,818	$	739	$	804

Unrecognized Tax Positions

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


	At December 31,
	2023		2022		2021
Unrecognized tax benefit
Unrecognized tax benefit at beginning of period	$	2,566	$	2,151	$	1,714
Gross increases — tax positions in prior period	1,189		415		437
Gross increases — tax positions in current period	782		—		—
Unrecognized tax benefit at end of period	$	4,537	$	2,566	$	2,151

We analyzed filing positions in the federal, state, and foreign jurisdictions in which we are required to file income tax returns, as well as the open tax years in these jurisdictions. As of December 31, 2023, we recorded approximately $4.5 million of unrecognized tax benefits, all of which would impact our effective tax rate, if recognized. We do not anticipate that our unrecognized tax benefits will materially change within the next 12 months. The Company has not accrued any penalties and interest for its unrecognized tax benefits. Other than the unrecognized tax benefit recorded, we believe that our income tax filing positions and deductions will be sustained upon audit, and we do not anticipate other adjustments that will result in a material change to our financial position. We may, from time to time, be assessed interest or penalties by tax jurisdictions, although any such assessments historically have been minimal and immaterial to our financial results. Our policy for recording

interest and penalties associated with audits and unrecognized tax benefits is to record such items as a component of income tax in our Statements of Operations.

Foreign Operations

We had unrepatriated foreign earnings of approximately $18.5 million as of December 31, 2023. These earnings are considered permanently reinvested, as it is management’s intention to reinvest these foreign earnings in foreign operations. We project sufficient cash flow, or borrowings available under our Senior Secured Credit Facilities in the U.S.; therefore, we do not need to repatriate our remaining foreign earnings to finance U.S. operations at this time. Due to the 2017 Tax Act, there is no U.S. federal tax on cash repatriation from foreign subsidiaries, however, it could be subject to foreign withholding and other taxes.

Other

We are subject to taxation in the U.S. and various states and foreign jurisdictions. We have a number of federal and state income tax years still open for examination as a result of our net operating loss carry-forwards. Accordingly, we are subject to examination for both U.S. federal and some of the state tax returns for the years 2005 to present. For the remaining state, local, and foreign jurisdictions, with some exceptions, we are no longer subject to examination by tax authorities for years before 2020.

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

SEGMENT INFORMATION

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

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

•Everi Games 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 or fixed-fee lease arrangements or sold to casino customers; (ii) providing and maintaining the central determinant systems for the video lottery terminals (“VLTs”) installed in the State of New York and similar technology in certain tribal jurisdictions; (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, 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 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.

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):


	For the Year Ended December 31,
	2023		2022		2021
Games
Revenue
Gaming operations	$	304,132	$	292,873	$	272,885
Gaming equipment and systems	125,022		143,553		103,844
Total revenues	429,154		436,426		376,729
Costs and expenses
Cost of revenues (1)
Gaming operations	35,205		25,153		21,663
Gaming equipment and systems	72,191		86,638		60,093
Cost of revenues	107,396		111,791		81,756
Operating expenses	103,666		76,496		70,150
Research and development	44,365		40,353		26,060
Depreciation	68,833		57,106		53,876
Amortization	44,201		43,044		42,866
Total costs and expenses	368,461		328,790		274,708
Operating income	$	60,693	$	107,636	$	102,021

(1) Exclusive of depreciation and amortization.


	For the Year Ended December 31,
	2023		2022		2021
FinTech
Revenues
Financial access services	$	225,054	$	206,860	$	178,019
Software and other	99,490		80,232		67,797
Hardware	54,123		59,001		37,840
Total revenues	378,667		346,093		283,656
Costs and expenses
Cost of revenues (1)
Financial access services	11,064		10,186		6,779
Software and other	6,159		4,125		4,129
Hardware	36,621		39,220		22,785
Cost of revenues	53,844		53,531		33,693
Operating expenses	157,265		140,463		118,750
Research and development	23,268		20,174		12,991
Depreciation	9,858		9,695		7,611
Amortization	15,841		16,514		15,121
Total costs and expenses	260,076		240,377		188,166
Operating income	$	118,591	$	105,716	$	95,490

(1) Exclusive of depreciation and amortization.


	For the Year Ended December 31,
	2023		2022		2021
Total Games and FinTech
Total revenues	$	807,821	$	782,519	$	660,385
Costs and expenses
Cost of revenues (1)	161,240		165,322		115,449
Operating expenses	260,931		216,959		188,900
Research and development	67,633		60,527		39,051
Depreciation	78,691		66,801		61,487
Amortization	60,042		59,558		57,987
Total costs and expenses	628,537		569,167		462,874
Operating income	$	179,284	$	213,352	$	197,511

(1) Exclusive of depreciation and amortization.


	At December 31,
	2023		2022
Total assets
Games	$	931,322	$	911,907
FinTech	1,192,548		1,006,336
Total assets	$	2,123,870	$	1,918,243

For the year ended December 31, 2023, cash paid for capital expenditures totaled $145.1 million, of which $117.0 million and $28.1 million was related to our Games and FinTech businesses, respectively. For the year ended December 31, 2022, cash paid for capital expenditures totaled $127.6 million, of which $96.0 million and $31.6 million, was related to our Games and FinTech businesses, respectively.

Major customers. For the years ended December 31, 2023, 2022, and 2021, no single customer accounted for more than 10% of our revenues.

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

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Accounting Changes and Error Corrections [Abstract]

ERROR CORRECTION OF AN IMMATERIAL PRIOR YEAR MISSTATEMENT

12 Months Ended

Dec. 31, 2023

ERROR CORRECTION OF AN IMMATERIAL PRIOR YEAR MISSTATEMENT

The Company determined that the placement fee arrangements were previously misclassified in its Statements of Cash Flows. Previously, these placement fee arrangements were reported as cash flows from investing activities, and they should have been presented as cash flows from operating activities for the fiscal years ended December 31, 2022 and 2021. The error has been corrected by adjusting each of the affected financial statement categories for these prior periods.

The following table summarizes the impact to our Statements of Cash Flows (in thousands):


	Year Ended December 31,
	2022		2021		2022		2021		2022		2021
	As reported				Adjustments				As adjusted
Cash flows from operating activities
Changes in operating assets and liabilities:
Placement fee agreements	$	—	$	—	$	(547)	$	(31,465)	$	(547)	$	(31,465)

Net cash provided by (used in) operating activities	272,641		391,630		(547)		(31,465)		272,094		360,165

Cash flows from investing activities
Placement fee agreements	(547)		(31,465)		547		31,465		—		—

Net cash (used in) provided by investing activities	(179,338)		(151,912)		547		31,465		(178,791)		(120,447)

Cash, cash equivalents and restricted cash
Net (decrease) increase for the period	(8,663)		51,377		—		—		(8,663)		51,377
Balance, beginning of the period	303,726		252,349		—		—		303,726		252,349
Balance, end of the period	$	295,063	$	303,726	$	—	$	—	$	295,063	$	303,726

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On February 28, 2024, the Company entered into definitive agreements with International Game Technology PLC (“IGT”) pursuant to which IGT will spin-off a newly created subsidiary, which will own IGT’s Global Gaming and PlayDigital businesses, with the Company acquiring the Global Gaming and PlayDigital businesses in a series of transactions. Upon the closing of the proposed transaction, under the terms of the agreements, IGT shareholders are expected to own approximately 54% of the combined company, with the Company’s existing stockholders expected to own approximately 46% of the combined company. The proposed transaction is expected to close in early 2025, subject to receipt of regulatory approvals, stockholder approvals, and other customary closing conditions. On February 28, 2024, the Company and Ignite Rotate LLC, a subsidiary of IGT, entered into a debt commitment letter with the lenders specified therein, pursuant to which the lenders have committed to provide the Company and such subsidiary with $3.7 billion, together with a revolver of $0.5 billion, used to refinance the Company’s existing debt, distribute funds to IGT, and the remainder will be used to pay the combined company’s financing fees, subject to the satisfaction of certain customary closing conditions including the consummation of the proposed transaction described above.

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net income	$ 83,997	$ 120,489	$ 152,925

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Principles of Consolidation

Insider Trading Arrangements	3 Months Ended	12 Months Ended
Insider Trading Arrangements	Dec. 31, 2023 shares	Dec. 31, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Terminated	false
Todd A. Valli [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		Todd A. Valli, Senior Vice President, Corporate Finance and Tax & Chief Accounting Officer, on December 6, 2023 modified a Rule 10b5-1 trading arrangement intended to satisfy Rule 10b5-1(c). The arrangement was originally entered into on March 13, 2023 to purchase and sell 15,000 shares of Company common stock between June 14, 2023 and May 2, 2024, subject to certain limit orders, all of which shares were to be acquired upon the exercise of employee stock option awards that were set to expire on May 2, 2024. The modified Rule 10b5-1 trading arrangement was entered into on December 6, 2023 to purchase and sell 15,000 shares of Company common stock between March 6, 2024 and May 2, 2024, subject to certain limit orders, all of which shares are to be acquired upon the exercise of employee stock option awards that are set to expire on May 2, 2024.
Name	Todd A. Valli
Title	Senior Vice President, Corporate Finance and Tax & Chief Accounting Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 6, 2023
Rule 10b5-1 Arrangement Terminated	true
Termination Date	December 6, 2023
Arrangement Duration	57 days
Aggregate Available	15,000	15,000

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

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

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

Business Combinations

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

Cash and Cash Equivalents

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

ATM Funding Agreements

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

For the non-Site-Funded locations, we enter into commercial arrangements with third party vendors to provide us the currency needed for normal operating requirements for our ATMs. For the use of these funds, we pay a cash usage fee based upon the target federal funds rate. Under these agreements, the currency supplied by the third-party vendors remains the sole property of these suppliers until funds are dispensed, at which time the third-party

vendors obtain an interest in the corresponding settlement receivable. As the cash is an asset of these suppliers, it is therefore not reflected on our Balance Sheets. The usage fee for the cash supplied in these ATMs is included as interest expense in the Statements of Operations. Our rationale to record cash usage fees as interest expense is primarily due to the similar operational characteristics to a revolving line of credit, the fact that the fees are calculated on a financial index, and the fees are paid for access to a capital resource.

Settlement Receivables and Settlement Liabilities

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

Warranty Receivables

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

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

Allowance for Credit Losses

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

Inventory

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

Restricted Cash

Our restricted cash primarily consists of: (i) funds held in connection with certain customer agreements; (ii) funds held in connection with a sponsorship agreement; (iii) wide-area progressive (“WAP”)-related restricted funds; and (iv) financial access activities related to cashless balances held on behalf of patrons. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Balance Sheets that sum to the total of the same such amounts shown in the Statements of Cash Flows for the years ended December 31, 2023, 2022, and 2021, respectively (in thousands).

Property and Equipment

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

Placement Fee Agreements

Periodically, we enter into long-term agreements with certain gaming establishments to secure the placement of our electronic gaming machines (“EGMs”) on casino floors. Under the terms of these placement fee agreements that we generally pay in full at the start of the term, the Company has the ability to install EGMs on the gaming floor for an extended period of time (i.e., generally multi-year agreements, with our largest agreement covering 83 months) under right to use arrangements. The gaming operations revenues generated as a result of these agreements are reduced by the accretion of contract rights, which represents the related amortization of the contract rights recorded in connection with such agreements. To the extent payments are made for these placement fee agreements to certain gaming establishments, we classify the amounts as cash outflows from operating activities in our Statements of Cash Flows.

Goodwill

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

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

Our reporting units are identified as operating segments or one level below. Reporting units must: (i) engage in business activities from which they earn revenues and incur expenses; (ii) have operating results that are regularly reviewed by our segment management to ascertain the resources to be allocated to the segment and assess its performance; and (iii) have discrete financial information available. As of December 31, 2023, our reporting units included: (i) Games; (ii) Financial Access Services; (iii) Kiosk Sales and Services; (iv) Central Credit Services; (v) Compliance Sales and Services; (vi) Loyalty Sales and Services, and (vii) Mobile Technologies.

Other Intangible Assets

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

Debt Issuance Costs

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

Cost of Revenues (Exclusive of Depreciation and Amortization)

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

Advertising, Marketing, and Promotional Costs

We expense advertising, marketing, and promotional costs as incurred. Total advertising, marketing, and promotional costs, included in operating expenses in the Statements of Operations, were $4.0 million, $3.5 million, and $2.6 million for the years ended December 31, 2023, 2022, and 2021, respectively.

Research and Development Costs

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

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

Research and development costs were $67.6 million, $60.5 million, and $39.1 million for the years ended December 31, 2023, 2022, and 2021, respectively.

Income Taxes

We are subject to income taxes in the United States as well as various states and foreign jurisdictions in which we operate. We account for income taxes in accordance with accounting guidance whereby deferred tax assets and liabilities are recognized for the expected future tax consequences of events that have been included in the financial statements or income tax returns. Deferred tax assets and liabilities are determined based upon differences between financial statement carrying amounts of existing assets and their respective tax bases using enacted tax rates expected to apply to taxable income in years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on the income tax provision and deferred tax assets and liabilities generally is recognized in the results of operations in the period that includes the enactment date. We evaluate the realization of our deferred tax assets based on all available evidence and establish a valuation allowance to reduce deferred tax assets when it is more likely than not that they will not be realized. This assessment considers all available positive and negative evidence, including our past operating results, forecasts of future earnings, the scheduled reversal of deferred tax liabilities, the duration of statutory carryforward periods and tax planning strategies.

We recognize tax benefits from an uncertain position only if it is more likely than not that the position will be sustained upon examination by taxing authorities based on the technical merits of the issue. The amount recognized is the largest benefit that we believe has greater than a 50% likelihood of being realized upon settlement.

Although we believe our assumptions, judgments and estimates are reasonable, changes in tax laws, and their interpretation, as well as the examination of our tax returns by taxing authorities, could significantly impact the amounts provided for income taxes in our consolidated financial statements. Our effective tax rate is affected by a number of factors including the actual results of operations, changes in our stock price for shares issued as employee compensation, changes in the valuation of our deferred tax assets or liabilities and changes in tax laws or rates for income taxes and other non-income taxes in various jurisdictions. The Organization for Economic Cooperation and Development’s (“OECD”) Base Erosion and Profit Shifting project involving negotiations among over 140 countries has the potential to substantially affect international tax policies, including the implementation of a minimum global effective tax rate of 15%. We are not currently subject to these rules as they are only applicable to multinational companies with global revenue of at least EUR 750 million. We will continue to monitor developments in the OECD’s project and policy changes in the countries in which we operate, as our effective tax rate and cash tax payments could increase when we become subject to these rules in future years.

Employee Benefits Plan

The Company provides a 401(k) Plan that allows employees to defer up to the lesser of the Internal Revenue Code prescribed maximum amount or 75% of their income on a pre-tax basis through contributions to the plan. As a benefit to employees, the Company matches a percentage of these employee contributions (as defined in the plan document).

Fair Values of Financial Instruments

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

The carrying amount of cash and cash equivalents, restricted cash, settlement receivables, short-term trade and other receivables, settlement liabilities, accounts payable, and accrued expenses approximate fair value due to the short-term maturities of these instruments. The fair value of the long-term trade and loans receivable is estimated by discounting expected future cash flows using current interest rates at which similar loans would be made to borrowers with similar credit ratings and remaining maturities. The fair value of long-term accounts payable is estimated by discounting the total obligation. As of December 31, 2023 and 2022, the fair value of trade and loan receivable approximated the carrying value due to contractual terms generally being slightly over 12 months. The fair value of our borrowings is estimated based on various inputs to determine a market price, such as: market demand and supply, size of tranche, maturity, and similar instruments trading in more active markets.

Foreign Currency Translation

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

Use of Estimates

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

Earnings Applicable to Common Stock

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

Stock-Based Compensation

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

Our restricted stock awards, restricted stock units, and performance-based stock units, are measured at fair value based on the closing stock price on the grant date, except for certain awards with a share-based payment arrangements priced in relation to similar indexed securities, which are valued using a lattice model. Our time-based stock option awards are measured at fair value on the grant date using the Black Scholes model. The stock-based compensation cost is recognized on a straight-line basis over the vesting period of the awards.

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

Acquisition-Related Costs

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

Reclassification of Balances

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

The Company determined that the placement fee arrangements were previously misclassified in its Statements of Cash Flows. Previously, these placement fee arrangements were reported as cash flows from investing activities, and they should have been presented as cash flows from operating activities for the fiscal years ended December 31, 2022 and 2021. The error has been corrected by adjusting each of the affected financial statement categories for these prior periods. The changes in the prior periods were made to conform to the current period presentation. For additional information, refer to “Item 8 — Financial Statements and Supplementary Data — Notes to Consolidated Financial Statements — Note 20 — Error Correction of an Immaterial Prior Year Misstatement.”

Recent Accounting Guidance

Recently Adopted Accounting Guidance

None.

Recent Accounting Guidance Not Yet Adopted


Standard	Description	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.	January 1, 2024	We are currently evaluating the impact of adopting this ASU on our Financial Statements and our disclosures; however, we do not expect the impact to be material.
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.	January 1, 2025	We are currently evaluating the effect of adopting this ASU on our Financial Statement disclosures.

As of December 31, 2023, other than what has been described above, we do not anticipate recently issued accounting guidance to have a significant impact on our consolidated financial statements.

Revenue Recognition

Overview

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

Collectability

To assess collectability, we determine whether it is probable that we will collect substantially all of the consideration to which we are entitled in exchange for the goods and services transferred to the customer in

accordance with the terms and conditions of the contract. In connection with these procedures, we evaluate the customer using internal and external information available, including, but not limited to, research and analysis of our credit history with the customer. Based on the nature of our transactions and historical trends, we determine whether our customers have the ability and intention to pay the amounts of consideration when they become due to identify potentially significant credit risk exposure.

Contract Combinations - Multiple Promised Goods and Services

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

Disaggregation of Revenues

We disaggregate revenues based on the nature and timing of the cash flows generated by such revenues as presented in “Note 19 — Segment Information.”

Outbound Freight Costs, Installation and Training

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

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

Costs to Acquire a Contract with a Customer

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

Contract Balances

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

Leases

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

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

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

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

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Balance Sheet Classification of Cash


		Year Ended December 31,
	Classification on our Balance Sheets	2023		2022		2021
Cash and cash equivalents	Cash and cash equivalents	$	267,215	$	293,394	$	302,009
Restricted cash — current	Prepaid expenses and other current assets	5,190		1,568		1,616
Restricted cash — non-current	Other assets	101		101		101
Total		$	272,506	$	295,063	$	303,726

Schedule of Borrowings

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


	Level of Hierarchy	Fair Value		Outstanding Balance
December 31, 2023
$600 million Term Loan	2	$	589,433	$	586,500
$400 million 2021 Unsecured Notes	2	$	365,000	$	400,000
December 31, 2022
$600 million Term Loan	2	$	588,560	$	592,500
$400 million 2021 Unsecured Notes	2	$	346,000	$	400,000

REVENUES (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Contract Assets and Liabilities

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


	2023		2022
Contract assets(1)
Balance, beginning of period	$	22,417	$	15,221
Balance, end of period	26,635		22,417
Increase	$	4,218	$	7,196

Contract liabilities(2)
Balance, beginning of period	$	53,419	$	36,615
Balance, end of period	51,799		53,419
(Decrease) increase	$	(1,620)	$	16,804

(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.

LEASES (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Balance Sheet Information

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


	Classification on our Balance Sheets	At December 31, 2023		At December 31, 2022
Assets
Operating lease ROU assets	Other assets, non-current	$	27,489	$	17,169
Liabilities
Current operating lease liabilities	Accounts payable and accrued expenses	$	7,079	$	6,507
Non-current operating lease liabilities	Other accrued expenses and liabilities	$	26,930	$	14,738

Cash Flow Information

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


	Year Ended December 31,
	2023		2022		2021
Cash paid for:
Long-term operating leases	$	7,413	$	6,885	$	6,675
Short-term operating leases	$	2,090	$	1,660	$	1,622
Right-of-use assets obtained in exchange for lease obligations:
Operating leases(1)	$	17,690	$	7,502	$	1,362

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

Lease Costs

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


	At December 31, 2023		At December 31, 2022
Weighted Average Remaining Lease Term (in years):
Operating leases	6.71		3.37
Weighted Average Discount Rate:
Operating leases	6.08	%	4.72	%

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


	Year Ended December 31,
	2023		2022		2021
Operating Lease Cost:
Operating lease cost (1)	$	6,786	$	6,008	$	5,474
Variable lease cost	$	1,461	$	1,164	$	1,267

(1) The amount includes approximately $6.1 million, $4.8 million and $4.4 million in non-cash lease expense attributable to amortization of ROU assets for the years ended December 31, 2023, 2022 and 2021, respectively.

Payments Due

Maturities of lease liabilities are summarized as follows as of December 31, 2023 (in thousands):


Year ending December 31,	Amount
2024	$	8,575
2025	8,551
2026	5,012
2027	3,083
2028	2,864
Thereafter	14,816
Total future minimum lease payments	$	42,901
Amount representing interest	8,892
Present value of future minimum lease payments	$	34,009
Current operating lease obligations	7,079
Long-term lease obligations	$	26,930

Sales-Type Lease

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


	Classification on our Balance Sheets	At December 31, 2023		At December 31, 2022
Assets
Net investment in sales-type leases — current	Trade and other receivables, net	$	810	$	54

BUSINESS COMBINATIONS (Tables)

12 Months Ended

Dec. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Business Acquisitions Assets and Liabilities

The total preliminary purchase consideration for Video King was as follows (in thousands, at fair value):


	Amount
Purchase consideration
Cash consideration paid at closing(1)	$	61,013
Cash consideration to be paid post-closing	466
Total purchase consideration	$	61,479

(1) Current assets acquired included approximately $1.9 million in cash.

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The information below reflects the preliminary amounts of identifiable assets acquired and liabilities assumed as of the closing date of the transaction (in thousands):


	Amount
Current assets	$	7,715
Property and equipment	4,485
Other intangible assets	25,770
Goodwill(1)	24,267
Other assets	763
Total Assets	63,000
Accounts payable and accrued expenses	1,193
Other accrued expenses and liabilities	328
Total liabilities	1,521
Net assets acquired	$	61,479

(1) Reflects a measurement period adjustment of approximately $0.2 million from the initial allocation as of the closing date of the transaction.

Finite-Lived Intangible Assets Acquired

The following table summarizes preliminary values of acquired intangible assets (dollars in thousands):


	Useful Life (Years)	Estimated Fair Value
Other Intangible Assets
Trade name	10	$	950
Developed technology	7	7,300
Customer relationships	14	17,520
Total other intangible assets		$	25,770

TRADE AND OTHER RECEIVABLES (Tables)

12 Months Ended

Dec. 31, 2023

Receivables [Abstract]

Schedule of Trade and Other Receivables

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


	At December 31,
	2023		2022
Trade and other receivables, net
Games trade and loans receivable	$	66,044	$	78,200
FinTech trade and loans receivable	39,795		39,925
Contract assets (1)	26,635		22,417
Other receivables	4,474		6,110

Total trade and other receivables, net	136,948		146,652

Non-current portion of receivables
Games trade and loans receivable	480		1,382
FinTech trade and loans receivable	15,551		16,519
Contract assets (1)	12,984		9,856

Total non-current portion of receivables	29,015		27,757

Total trade and other receivables, current portion	$	107,933	$	118,895

(1) Refer to “Note 3 — Revenues” for a discussion on the contract assets.

Summary of Allowance for Credit Losses

The activity in our allowance for credit losses for the years ended December 31, 2023 and 2022 is as follows (in thousands):


	At December 31,
	2023		2022
Beginning allowance for credit losses	$	(4,855)	$	(5,161)
Provision	(11,623)		(10,115)
Charge-offs and recoveries	11,268		10,421
Ending allowance for credit losses	$	(5,210)	$	(4,855)

INVENTORY (Tables)

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Schedule of Components of Inventory

Inventory consisted of the following (in thousands):


	At December 31,
	2023		2022
Inventory
Component parts, net of reserves of $3,144 and $2,919 at December 31, 2023 and December 31, 2022, respectively	$	59,632	$	48,688
Work-in-progress	1,147		323
Finished goods	9,845		9,339
Total inventory	$	70,624	$	58,350

PREPAID EXPENSES AND OTHER ASSETS (Tables)

12 Months Ended

Dec. 31, 2023

Prepaid Expense and Other Assets [Abstract]

Schedule of Components of Current Portion of Prepaid and Other Assets

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


	At December 31,
	2023		2022
Prepaid expenses and other current assets
Prepaid expenses	$	25,608	$	21,197
Deposits	10,530		13,749
Restricted cash(1)	5,190		1,568
Other	2,578		2,308
Total prepaid expenses and other current assets	$	43,906	$	38,822

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

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

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


	At December 31,
	2023		2022
Other assets
Operating lease ROU assets	$	27,489	$	17,169
Prepaid expenses and deposits	9,429		9,164
Debt issuance costs of revolving credit facility	993		1,377
Other	170		196
Total other assets	$	38,081	$	27,906

PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Schedule of Components of Property, Equipment and Leased Assets

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


		At December 31, 2023						At December 31, 2022
	Useful Life (Years)	Cost		Accumulated Depreciation		Net Book Value		Cost		Accumulated Depreciation		Net Book Value
Property and equipment
Rental pool - deployed	2-5	$	308,438	$	218,110	$	90,328	$	279,524	$	188,369	$	91,155
Rental pool - undeployed	2-5	39,578		29,770		9,808		30,378		23,930		6,448
FinTech equipment	1-5	32,719		21,911		10,808		36,442		24,167		12,275
Leasehold and building improvements	Lease Term	19,271		4,887		14,384		13,666		10,689		2,977
Machinery, office, and other equipment	1-5	63,857		36,481		27,376		55,246		34,456		20,790
Total		$	463,863	$	311,159	$	152,704	$	415,256	$	281,611	$	133,645

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in the Carrying Amount of Goodwill

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


	Games	Financial Access Services	Kiosk Sales and Services	Central Credit Services	Compliance Sales and Services	Loyalty Sales and Services	Mobile Technologies	Total
Goodwill
Balance, December 31, 2021	$449,041	$157,090	$5,745	$17,127	$12,265	$41,395	$—	$682,663
Foreign currency translation	—	(41)	(661)	—	—	—	—	(702)
Acquisition related adjustments	12,402	—	10,776	—	(129)	—	10,860	33,909
Balance, December 31, 2022	$461,443	$157,049	$15,860	$17,127	$12,136	$41,395	$10,860	$715,870
Foreign currency translation	—	14	(819)	—	—	—	—	(805)
Acquisition related adjustments	22,932	—	2,925	—	—	—	(1,245)	24,612
Subsequent recognition of deferred tax assets	—	(1,873)	—	—	—	—	—	(1,873)
Balance, December 31, 2023	$484,375	$155,190	$17,966	$17,127	$12,136	$41,395	$9,615	$737,804

Schedule of Other Intangible Assets

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


		At December 31, 2023						At December 31, 2022
	Useful Life (Years)	Cost		Accumulated Amortization		Net Book Value		Cost		Accumulated Amortization		Net Book Value
Other intangible assets
Contract rights under placement fee agreements	2-7	$	57,821	$	21,592	$	36,229	$	57,821	$	12,252	$	45,569
Customer relationships	3-14	337,829		255,972		81,857		331,999		233,150		98,849
Developed technology and software	1-7	453,453		340,286		113,167		401,087		309,285		91,802
Patents, trademarks, and other	2-18	24,783		21,898		2,885		22,334		20,279		2,055
Total		$	873,886	$	639,748	$	234,138	$	813,241	$	574,966	$	238,275

Schedule of Anticipated Amortization Expense

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


Anticipated amortization expense	Amount
2024	$	61,061
2025	44,143
2026	32,446
2027	13,755
2028	4,897
Thereafter	16,545
Total (1)	$	172,847

(1) For the year ended December 31, 2023, the Company had $61.3 million in other intangible assets that had not yet been placed into service.

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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Schedule of Accounts Payable and Accrued Expenses

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)

12 Months Ended

Dec. 31, 2023

Payables and Accruals [Abstract]

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


	At December 31,
	2023		2022
Accounts payable and accrued expenses
Customer commissions payable	74,376		65,387
Contract liabilities	51,395		50,872
Accounts payable - trade	30,261		29,645
Payroll and related expenses	14,367		24,335
Accrued interest	9,616		9,451
Financial access processing and related expenses	8,670		7,829
Operating lease liabilities	7,079		6,507
Accrued income taxes	6,367		3,673
Contingent consideration and acquisition-related liabilities (1)	5,623		12,030
Other	7,776		7,695

Total accounts payable and accrued expenses	$	215,530	$	217,424

(1) Refer to “Note 5 — Business Combinations” for discussion on contingent consideration and acquisition-related liabilities.

LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Outstanding Indebtedness

The following table summarizes our indebtedness (in thousands):


	Maturity	Interest	At December 31,
	Date	Rate	2023		2022
Long-term debt
$600 million Term Loan	2028	SOFR+2.50%	$	586,500	$	592,500
$125 million Revolver	2026	SOFR+2.50%	—		—
Senior Secured Credit Facilities			586,500		592,500
$400 million 2021 Unsecured Notes	2029	5.00%	400,000		400,000
Total debt			986,500		992,500
Debt issuance costs and discount			(12,035)		(14,505)
Total debt after debt issuance costs and discount			974,465		977,995
Current portion of long-term debt			(6,000)		(6,000)
Total long-term debt, net of current portion			$	968,465	$	971,995

Schedule of Principal Repayments

The maturities of our borrowings at December 31, 2023 are as follows (in thousands):


	Amount
Maturities of borrowings
2024	$	6,000
2025	6,000
2026	6,000
2027	6,000
2028	562,500
Thereafter	400,000
Total	$	986,500

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

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Schedule of Weighted Average Shares of Common Stock

WEIGHTED AVERAGE SHARES OF COMMON STOCK (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

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


	At December 31,
	2023	2022	2021
Weighted average shares
Weighted average number of common shares outstanding — basic	87,176	90,494	89,284
Potential dilution from equity awards (1)	4,809	7,013	10,683
Weighted average number of common shares outstanding — diluted (1)	91,985	97,507	99,967

(1) There were 0.3 million and 0.1 million shares that were anti-dilutive under the treasury stock method for the years ended December 31, 2023 and 2022, respectively. There were an immaterial amount of shares that were anti-dilutive under the treasury stock method for the year ended December 31, 2021.

SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2023

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, 2022	6,793	2,709
Granted	103	1,555
Exercised options or vested shares	(2,061)	(1,728)
Canceled or forfeited	(31)	(72)
Outstanding, December 31, 2023	4,804	2,464

Summary of Option Activity

The following table presents the options activity:


	Number of Options (in thousands)	Weighted Average Exercise Price (per Share)		Weighted Average Life Remaining (Years)	Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2022	6,793	$	5.01	2.8	$	63,604
Granted	103	15.12
Exercised	(2,061)	7.17
Canceled or forfeited	(31)	8.32
Outstanding, December 31, 2023	4,804	4.28		2.6	34,350
Vested and expected to vest after, December 31, 2023	4,794	4.26		2.6	34,350
Exercisable, December 31, 2023	4,654	$	3.92	2.4	$	34,350

Schedule of Information About Stock Options Outstanding and Exercisable

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


				Options Outstanding				Options Exercisable
				Number Outstanding	Weighted Average Remaining Contract Life	Weighted Average Exercise		Number Exercisable	Weighted Average Exercise
Range of Exercise Prices				(in thousands)	(Years)	Prices		(in thousands)	Price
$	1.46	$	1.46	985	2.4	$	1.46	985	$	1.46
1.57		2.78		649	2.3	2.60		649	2.60
3.29		3.29		1,812	3.2	3.29		1,812	3.29
6.30		7.74		1,142	1.1	7.34		1,142	7.34
7.88		16.69		216	8.0	14.45		66	11.75
				4,804				4,654

Schedule of Nonvested Restricted Stock Units Activity

The following table presents our RSU and PSU awards activity:


	Shares Outstanding (in thousands)	Weighted Average Grant Date Fair Value (per Share)		Weighted Average Life Remaining (Years)	Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2022	2,709	$	13.46	0.9	$	38,850
Granted	1,555	13.34
Vested	(1,728)	9.77
Forfeited	(72)	16.59
Outstanding, December 31, 2023	2,464	15.88		1.2	27,747
Vested and expected to vest after, December 31, 2023	2,081	$	16.47	1.1	$	23,453

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Consolidated Loss Before Tax for Domestic and Foreign Operations

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


	Year Ended December 31,
	2023		2022		2021
Consolidated income (loss) before tax
Domestic	$	104,798	$	157,510	$	100,232
Foreign	(3,207)		90		793
Total	$	101,591	$	157,600	$	101,025

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

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


	Year Ended December 31,
	2023		2022		2021
Income tax provision (benefit)
Domestic	$	17,760	$	36,440	$	(51,923)
Foreign	(166)		671		23
Total income tax provision (benefit)	$	17,594	$	37,111	$	(51,900)
Income tax provision (benefit)
Current	$	8,634	$	4,446	$	177
Deferred	8,960		32,665		(52,077)
Total income tax provision (benefit)	$	17,594	$	37,111	$	(51,900)

Reconciliation of Federal Statutory Rate and Effective Income Tax Rate

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


	Year Ended December 31,
	2023		2022		2021
Income tax reconciliation
Federal statutory rate	21.0	%	21.0	%	21.0	%
Foreign provision	(0.4)	%	(0.1)	%	—	%
State/province income tax	3.3	%	3.3	%	3.5	%
Compensation deduction limitations	2.1	%	2.9	%	2.5	%
Stock-based compensation expense	(4.5)	%	(2.5)	%	(10.6)	%
Adjustments to carrying values	1.9	%	0.3	%	1.7	%
Research and development credit	(6.7)	%	(2.2)	%	(2.3)	%
Valuation allowance(1)	1.1	%	—	%	(67.2)	%
Global intangible low-taxed income(2)	—	%	0.4	%	0.1	%
Non-deductible expenses - other	0.2	%	—	%	0.1	%
Other	(0.7)	%	0.4	%	(0.2)	%
Effective tax rate	17.3	%	23.5	%	(51.4)	%

(1) We removed the full valuation allowance in the federal and certain state jurisdictions in the fourth quarter of 2021 and placed a full valuation allowance on Australia in the fourth quarter of 2023.

(2) We had no global intangible low-taxed income inclusion in 2023 due to the high tax exception in some foreign jurisdictions and losses in others.

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

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


	At December 31,
	2023		2022		2021
Deferred income tax assets related to:
Net operating losses	$	5,171	$	27,901	$	84,619
Tax credits	17,570		18,467		14,688
Capitalized research expenditures(1)	27,534		15,705		—
Accrued and prepaid expenses	9,989		10,481		11,284
Stock compensation expense	5,427		6,041		6,210
Accounts receivable allowances	1,293		1,204		1,275
Other	1,798		1,841		913
Valuation allowance	(1,818)		(739)		(804)
Total deferred income tax assets	$	66,964	$	80,901	$	118,185
Deferred income tax liabilities related to:
Other intangible assets	$	49,234	$	57,487	$	59,156
Property and equipment	24,755		23,352		23,610
Long-term debt	—		—		7
Other	6,139		4,472		3,291
Total deferred income tax liabilities	$	80,128	$	85,311	$	86,064
Deferred income taxes, net	$	(13,164)	$	(4,410)	$	32,121

(1) As required by the 2017 Tax Cuts and Jobs Act, effective January 1, 2022, our research and development expenditures were capitalized and amortized, which resulted in higher taxable income for 2023 and 2022 with an equal amount of deferred tax benefit.

Reconciliation of Total Amounts of Deferred Tax Asset Valuation Allowance

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


	At December 31,
	2023		2022		2021
Balance at beginning of period	$	739	$	804	$	68,746
Valuation allowance - (reversal) charge	1,079		(65)		(67,942)

Balance at end of period	$	1,818	$	739	$	804

Reconciliation of Total Amounts of Unrecognized Tax Benefits

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


	At December 31,
	2023		2022		2021
Unrecognized tax benefit
Unrecognized tax benefit at beginning of period	$	2,566	$	2,151	$	1,714
Gross increases — tax positions in prior period	1,189		415		437
Gross increases — tax positions in current period	782		—		—
Unrecognized tax benefit at end of period	$	4,537	$	2,566	$	2,151

SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Segment Information

The following tables present segment information (in thousands):


	For the Year Ended December 31,
	2023		2022		2021
Games
Revenue
Gaming operations	$	304,132	$	292,873	$	272,885
Gaming equipment and systems	125,022		143,553		103,844
Total revenues	429,154		436,426		376,729
Costs and expenses
Cost of revenues (1)
Gaming operations	35,205		25,153		21,663
Gaming equipment and systems	72,191		86,638		60,093
Cost of revenues	107,396		111,791		81,756
Operating expenses	103,666		76,496		70,150
Research and development	44,365		40,353		26,060
Depreciation	68,833		57,106		53,876
Amortization	44,201		43,044		42,866
Total costs and expenses	368,461		328,790		274,708
Operating income	$	60,693	$	107,636	$	102,021

(1) Exclusive of depreciation and amortization.


	For the Year Ended December 31,
	2023		2022		2021
FinTech
Revenues
Financial access services	$	225,054	$	206,860	$	178,019
Software and other	99,490		80,232		67,797
Hardware	54,123		59,001		37,840
Total revenues	378,667		346,093		283,656
Costs and expenses
Cost of revenues (1)
Financial access services	11,064		10,186		6,779
Software and other	6,159		4,125		4,129
Hardware	36,621		39,220		22,785
Cost of revenues	53,844		53,531		33,693
Operating expenses	157,265		140,463		118,750
Research and development	23,268		20,174		12,991
Depreciation	9,858		9,695		7,611
Amortization	15,841		16,514		15,121
Total costs and expenses	260,076		240,377		188,166
Operating income	$	118,591	$	105,716	$	95,490

(1) Exclusive of depreciation and amortization.


	For the Year Ended December 31,
	2023		2022		2021
Total Games and FinTech
Total revenues	$	807,821	$	782,519	$	660,385
Costs and expenses
Cost of revenues (1)	161,240		165,322		115,449
Operating expenses	260,931		216,959		188,900
Research and development	67,633		60,527		39,051
Depreciation	78,691		66,801		61,487
Amortization	60,042		59,558		57,987
Total costs and expenses	628,537		569,167		462,874
Operating income	$	179,284	$	213,352	$	197,511

(1) Exclusive of depreciation and amortization.


	At December 31,
	2023		2022
Total assets
Games	$	931,322	$	911,907
FinTech	1,192,548		1,006,336
Total assets	$	2,123,870	$	1,918,243

ERROR CORRECTION OF AN IMMATERIAL PRIOR YEAR MISSTATEMENT (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Changes and Error Corrections [Abstract]

Schedule of Error Corrections and Prior Period Adjustments

The following table summarizes the impact to our Statements of Cash Flows (in thousands):


	Year Ended December 31,
	2022		2021		2022		2021		2022		2021
	As reported				Adjustments				As adjusted
Cash flows from operating activities
Changes in operating assets and liabilities:
Placement fee agreements	$	—	$	—	$	(547)	$	(31,465)	$	(547)	$	(31,465)

Net cash provided by (used in) operating activities	272,641		391,630		(547)		(31,465)		272,094		360,165

Cash flows from investing activities
Placement fee agreements	(547)		(31,465)		547		31,465		—		—

Net cash (used in) provided by investing activities	(179,338)		(151,912)		547		31,465		(178,791)		(120,447)

Cash, cash equivalents and restricted cash
Net (decrease) increase for the period	(8,663)		51,377		—		—		(8,663)		51,377
Balance, beginning of the period	303,726		252,349		—		—		303,726		252,349
Balance, end of the period	$	295,063	$	303,726	$	—	$	—	$	295,063	$	303,726

BUSINESS (Details)	12 Months Ended
BUSINESS (Details)	Dec. 31, 2023 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	2

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 267,215	$ 293,394
Restricted Cash, Current, Statement of Financial Position [Extensible Enumeration]	Prepaid expenses and other current assets	Prepaid expenses and other current assets	Prepaid expenses and other current assets
Restricted cash — current	$ 5,190	$ 1,568	$ 1,616
Restricted Cash, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets	Other assets
Restricted cash — non-current	$ 101	$ 101	$ 101
Total	272,506	295,063	303,726	$ 252,349
Cash and cash equivalents
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 267,215	$ 293,394	$ 302,009

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property, Equipment, and Placement Fee Agreements (Details)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
General term of the agreement	83 months
Minimum
Property, Plant and Equipment [Line Items]
Estimated life	1 year
General term of the agreement	2 years
Maximum
Property, Plant and Equipment [Line Items]
Estimated life	5 years
General term of the agreement	5 years

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Goodwill and Other Intangible Assets (Details)	Dec. 31, 2023
Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life	6 years

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Advertising, Marketing and Promotional Costs, Research and Development Costs, and Employee Benefits Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Advertising, Marketing and Promotional Costs
Total advertising, marketing and promotional costs	$ 4,000	$ 3,500	$ 2,600
Research and development costs
Research and development	$ 67,633	60,527	39,051
Employee Benefits Plan
Maximum contribution by employees of pre-tax earnings	75.00%
Matching contribution made by the entity	$ 6,300	$ 4,600	$ 2,600

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Fair Values of Financial Instruments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Aug. 03, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Term of loans and receivables	12 months	12 months
Senior secured notes \| Credit Agreement, dated August 3, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Principal amount of debt	$ 600,000,000	$ 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	589,433,000	588,560,000
Fair Value \| Level 2 \| Incremental Term Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	365,000,000	346,000,000
Outstanding Balance \| Level 2 \| New Term Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	586,500,000	592,500,000
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

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Stock-Based Compensation (Details)	12 Months Ended
	Dec. 31, 2023
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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REVENUES - Contract Asset and Liability (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Contract assets
Balance, beginning of period	$ 22,417	$ 15,221
Balance, end of period	26,635	22,417
Increase	4,218	7,196
Contract liabilities
Balance, beginning of period	53,419	36,615
Balance, end of period	51,799	53,419
(Decrease) increase	$ (1,620)	$ 16,804

REVENUES (Details) - USD ($) $ in Thousands	12 Months Ended
REVENUES (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Contract liability, revenue recognized	$ 36,000	$ 27,500
Revenues	807,821	782,519	$ 660,385
Games trade and loans receivable
Disaggregation of Revenue [Line Items]
Revenues	429,154	436,426	376,729
FinTech equipment
Disaggregation of Revenue [Line Items]
Revenues	378,667	346,093	283,656
Gaming Operations, Leased Equipment \| Games trade and loans receivable
Disaggregation of Revenue [Line Items]
Revenues	$ 201,900	197,900	189,800
Gaming Operations, Leased Equipment \| Minimum \| Games trade and loans receivable
Disaggregation of Revenue [Line Items]
Payment terms	30 days
Gaming Operations, Leased Equipment \| Maximum \| Games trade and loans receivable
Disaggregation of Revenue [Line Items]
Payment terms	90 days
Gaming Operations, Wide Area Progressive (WAP) Systems \| Minimum \| Games trade and loans receivable
Disaggregation of Revenue [Line Items]
Payment terms	30 days
Gaming Operations, Wide Area Progressive (WAP) Systems \| Maximum \| Games trade and loans receivable
Disaggregation of Revenue [Line Items]
Payment terms	90 days
Gaming equipment and systems \| Games trade and loans receivable
Disaggregation of Revenue [Line Items]
Revenues	$ 125,022	143,553	103,844
Gaming equipment and systems \| Minimum \| Games trade and loans receivable
Disaggregation of Revenue [Line Items]
Term of contract	30 days
Gaming equipment and systems \| Maximum \| Games trade and loans receivable
Disaggregation of Revenue [Line Items]
Payment terms	39 months
Term of contract	180 days
Gaming equipment and systems \| Maximum \| FinTech equipment
Disaggregation of Revenue [Line Items]
Payment terms	60 months
Software and other \| FinTech equipment
Disaggregation of Revenue [Line Items]
Revenues	$ 99,490	$ 80,232	$ 67,797
Software and other \| Minimum \| FinTech equipment
Disaggregation of Revenue [Line Items]
Payment terms	30 days
Software and other \| Maximum \| FinTech equipment
Disaggregation of Revenue [Line Items]
Payment terms	90 days
Equipment Product \| Minimum \| FinTech equipment
Disaggregation of Revenue [Line Items]
Payment terms	30 days
Equipment Product \| Maximum \| FinTech equipment
Disaggregation of Revenue [Line Items]
Payment terms	90 days

LEASES - Narrative (Details) $ in Millions	Dec. 31, 2023 USD ($)
Lessee, Lease, Description [Line Items]
Lease not yet commenced, term of contract	10 years
Lease not yet commenced	$ 27.3
Minimum
Lessee, Lease, Description [Line Items]
Renewal term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Renewal term	10 years

LEASES - Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease ROU assets	$ 27,489	$ 17,169
Current operating lease liabilities	7,079	6,507
Non-current operating lease liabilities	$ 26,930	$ 14,738
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets	Other assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accounts payable and accrued expenses	Accounts payable and accrued expenses
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other accrued expenses and liabilities	Other accrued expenses and liabilities

LEASES - Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Right-of-use assets obtained in exchange for lease obligations:
Operating lease	$ 17,690	$ 7,502	$ 1,362
Long-term operating leases
Lessee, Lease, Description [Line Items]
Long and short term operating leases	7,413	6,885	6,675
Short-term operating leases
Lessee, Lease, Description [Line Items]
Long and short term operating leases	$ 2,090	$ 1,660	$ 1,622

LEASES - Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
LEASES - Lease Costs (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Weighted average remaining lease term, operating leases	6 years 8 months 15 days	3 years 4 months 13 days
Weighted average discount rate, operating leases	6.08%	4.72%
Operating lease cost	$ 6,786	$ 6,008	$ 5,474
Variable lease cost	1,461	1,164	1,267
Non-cash lease expense	$ 6,096	$ 4,847	$ 4,401

LEASES - Payments Due (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases, Operating [Abstract]
2024	$ 8,575
2025	8,551
2026	5,012
2027	3,083
2028	2,864
Thereafter	14,816
Total future minimum lease payments	42,901
Amount representing interest	8,892
Present value of future minimum lease payments	34,009
Current operating lease liabilities	7,079	$ 6,507
Long-term lease obligations	$ 26,930	$ 14,738

LEASES - Sales-type Lease (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Net investment in sales-type leases — current	$ 810	$ 54

BUSINESS COMBINATIONS - Narrative (Details) $ in Thousands, $ in Millions						3 Months Ended						12 Months Ended
	May 01, 2023 USD ($)	Oct. 14, 2022 USD ($)	Apr. 30, 2022 USD ($)	Mar. 01, 2022 USD ($)	Mar. 01, 2022 AUD ($)	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2022 AUD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Business Acquisition [Line Items]
Consideration transferred												$ 200
Deferred tax liabilities, net						$ 13,762						13,762	$ 5,994
Pro forma revenue												817,000	824,000
Pro forma net income												$ 83,000	109,200
ecash Holdings Pty Limited
Business Acquisition [Line Items]
Payments to acquire businesses, gross				$ 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, period since closing				1 year	1 year
ecash Holdings Pty Limited \| Tranche Two
Business Acquisition [Line Items]
Contingent consideration					$ 6.5
Contingent consideration, period since closing				2 years	2 years
Intuicode
Business Acquisition [Line Items]
Payments to acquire businesses, gross			$ 12,500
Business combination, consideration transferred, liabilities incurred										$ 1,600
Consideration transferred								$ 1,300
Intuicode \| Measurement Input, Discount Rate
Business Acquisition [Line Items]
Acquired business discount rate						0.05						0.05
Intuicode \| Revenue Target One
Business Acquisition [Line Items]
Earn-out liability			$ 6,400
Contingent consideration, revenue target anniversary			1 year
Intuicode \| Revenue Target Two
Business Acquisition [Line Items]
Earn-out liability			$ 2,600
Contingent consideration, revenue target anniversary			2 years
Operating expenses						$ 1,700
Venuetize, Inc.
Business Acquisition [Line Items]
Payments to acquire businesses, gross		$ 18,200
Earn-out liability		1,800
Business combination, consideration transferred		$ 1,000
Deferred tax liabilities, net						1,200						$ 1,200
Cash payments, noncurrent, payment period		2 years
Venuetize, Inc. \| Measurement Input, Discount Rate
Business Acquisition [Line Items]
Acquired business discount rate		0.07
Venuetize, Inc. \| Revenue Target One
Business Acquisition [Line Items]
Contingent consideration, revenue target anniversary		12 months
Venuetize, Inc. \| Revenue Target Two
Business Acquisition [Line Items]
Contingent consideration, revenue target anniversary												24 months
Venuetize, Inc. \| Revenue Target Three
Business Acquisition [Line Items]
Contingent consideration, revenue target anniversary												30 months
VKGS LLC
Business Acquisition [Line Items]
Payments to acquire businesses, gross	$ 61,013
Business combination, consideration transferred, liabilities incurred	466
Earn-out liability	$ 200
Contingent consideration, revenue target anniversary	18 months
Business combination, consideration transferred	$ 61,479
Additional net Working capital payment							$ 300
Cash						1,900						$ 1,900
Travel receivables						2,000						2,000
Inventory						$ 3,400						3,400
Other intangible assets	25,770
Revenue since acquisition date												18,400
Net loss since acquisition date												3,600
Transaction costs												$ 600
VKGS LLC \| Customer relationships
Business Acquisition [Line Items]
Other intangible assets	17,520
VKGS LLC \| Developed technology
Business Acquisition [Line Items]
Other intangible assets	7,300
VKGS LLC \| Trade name
Business Acquisition [Line Items]
Other intangible assets	$ 950
VKGS LLC \| Measurement Input, Discount Rate \| Customer relationships
Business Acquisition [Line Items]
Finite-lived intangible assets acquired, measurement input	14.00%
VKGS LLC \| Measurement Input, Discount Rate \| Developed technology
Business Acquisition [Line Items]
Finite-lived intangible assets acquired, measurement input	14.00%
VKGS LLC \| Measurement Input, Discount Rate \| Trade name
Business Acquisition [Line Items]
Finite-lived intangible assets acquired, measurement input	15.00%
VKGS LLC \| Measurement Input, Royalty Rate \| Developed technology
Business Acquisition [Line Items]
Finite-lived intangible assets acquired, measurement input	10.00%
VKGS LLC \| Measurement Input, Royalty Rate \| Trade name
Business Acquisition [Line Items]
Finite-lived intangible assets acquired, measurement input	1.00%
eCash, Intuicode and Venuetize
Business Acquisition [Line Items]
Pro forma revenue													797,600
Pro forma net income													$ 111,400

BUSINESS COMBINATIONS - Business Acquisition Assets and Liabilities (Details) - VKGS LLC $ in Thousands	May 01, 2023 USD ($)
Business Acquisition [Line Items]
Payments to acquire businesses, gross	$ 61,013
Business combination, consideration transferred, liabilities incurred	466
Total purchase consideration	$ 61,479

BUSINESS COMBINATIONS - Schedule of Recognized identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 31, 2023	May 01, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 737,804		$ 715,870	$ 682,663
VKGS LLC
Business Acquisition [Line Items]
Current assets		$ 7,715
Property and equipment		4,485
Other intangible assets		25,770
Goodwill		24,267
Other assets		763
Total Assets		63,000
Accounts payable and accrued expenses		1,193
Other accrued expenses and liabilities		328
Total liabilities		1,521
Net assets acquired		$ 61,479

BUSINESS COMBINATIONS - Finite-Lived Intangible Assets Acquired (Details) - VKGS LLC $ in Thousands	May 01, 2023 USD ($)
Business Acquisition [Line Items]
Other intangible assets	$ 25,770
Trade name
Business Acquisition [Line Items]
Useful Life (Years)	10 years
Other intangible assets	$ 950
Developed technology
Business Acquisition [Line Items]
Useful Life (Years)	7 years
Other intangible assets	$ 7,300
Customer relationships
Business Acquisition [Line Items]
Useful Life (Years)	14 years
Other intangible assets	$ 17,520

BUSINESS COMBINATIONS - Business Acquisition, Pro Forma Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Pro forma revenue	$ 817,000	$ 824,000
Pro forma net income	$ 83,000	$ 109,200

FUNDING AGREEMENTS (Details) - USD ($)	12 Months Ended
FUNDING AGREEMENTS (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Funding Agreements
Site-funded ATMs	$ 483,700,000	$ 337,600,000
Prefunded cash	3,600,000	3,000,000
Contract Cash Solutions Agreement \| Indemnification Guarantee
Funding Agreements
Cash usage fees incurred	20,400,000	9,300,000	$ 4,000,000
Outstanding balance	388,500,000	$ 444,600,000
Contract Cash Solutions Agreement, as amended \| Indemnification Guarantee
Funding Agreements
Maximum amount	$ 450,000,000
Renewal period	1 year
Non-renewal notice period	90 days

TRADE AND OTHER RECEIVABLES - Schedule of Trade and Other Receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contract assets	$ 26,635	$ 22,417	$ 15,221
Other receivables	4,474	6,110
Total trade and other receivables, net	136,948	146,652
Non-current portion of receivables	29,015	27,757
Contract assets, noncurrent	12,984	9,856
Total trade and other receivables, current portion	107,933	118,895
Games trade and loans receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade receivables, net	66,044	78,200
Non-current portion of receivables	480	1,382
FinTech trade and loans receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade receivables, net	39,795	39,925
Non-current portion of receivables	$ 15,551	$ 16,519

TRADE AND OTHER RECEIVABLES - Summary of Allowance for Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning allowance for credit losses	$ (4,855)	$ (5,161)
Provision	(11,623)	(10,115)
Charge-offs and recoveries	11,268	10,421
Ending allowance for credit losses	$ (5,210)	$ (4,855)

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

+ References + Details

INVENTORY (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Component parts, net of reserves of $3,144 and $2,919 at December 31, 2023 and December 31, 2022, respectively	$ 59,632	$ 48,688
Work-in-progress	1,147	323
Finished goods	9,845	9,339
Total inventory	70,624	58,350
Inventory valuation reserves	$ 3,144	$ 2,919

PREPAID EXPENSES AND OTHER ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Prepaid expenses and other current assets
Prepaid expenses	$ 25,608	$ 21,197
Deposits	10,530	13,749
Restricted cash	5,190	1,568	$ 1,616
Other	2,578	2,308
Total prepaid expenses and other current assets	43,906	38,822
Other assets
Operating lease ROU assets	27,489	17,169
Prepaid expenses and deposits	9,429	9,164
Debt issuance costs of revolving credit facility	993	1,377
Other	170	196
Total other assets	$ 38,081	$ 27,906

PROPERTY AND EQUIPMENT - Schedule of Components of Property, Equipment and Leased Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Cost	$ 463,863	$ 415,256
Accumulated Depreciation	311,159	281,611
Net Book Value	$ 152,704	133,645
Minimum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	1 year
Maximum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	5 years
Rental pool - deployed
Property, Plant and Equipment [Line Items]
Cost	$ 308,438	279,524
Accumulated Depreciation	218,110	188,369
Net Book Value	$ 90,328	91,155
Rental pool - deployed \| Minimum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	2 years
Rental pool - deployed \| Maximum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	5 years
Rental pool - undeployed
Property, Plant and Equipment [Line Items]
Cost	$ 39,578	30,378
Accumulated Depreciation	29,770	23,930
Net Book Value	$ 9,808	6,448
Rental pool - undeployed \| Minimum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	2 years
Rental pool - undeployed \| Maximum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	5 years
Leasehold and building improvements
Property, Plant and Equipment [Line Items]
Cost	$ 19,271	13,666
Accumulated Depreciation	4,887	10,689
Net Book Value	$ 14,384	2,977
Leasehold and building improvements \| Minimum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	1 year
Leasehold and building improvements \| Maximum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	5 years
Machinery, office, and other equipment
Property, Plant and Equipment [Line Items]
Cost	$ 63,857	55,246
Accumulated Depreciation	36,481	34,456
Net Book Value	$ 27,376	20,790
Machinery, office, and other equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	1 year
Machinery, office, and other equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	5 years
FinTech equipment \| Machinery, office, and other equipment
Property, Plant and Equipment [Line Items]
Cost	$ 32,719	36,442
Accumulated Depreciation	21,911	24,167
Net Book Value	$ 10,808	$ 12,275

PROPERTY AND EQUIPMENT - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation	$ 78,691	$ 66,801	$ 61,487

GOODWILL AND OTHER INTANGIBLE ASSETS - Goodwill Testing (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 737,804	$ 715,870	$ 682,663

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Changes in Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Changes in the carrying amount of goodwill
Balance at the beginning of the period	$ 715,870	$ 682,663
Foreign currency translation	(805)	(702)
Acquisition related adjustments	24,612	33,909
Subsequent recognition of deferred tax assets	(1,873)
Balance at the end of the period	737,804	715,870
Games
Changes in the carrying amount of goodwill
Balance at the beginning of the period	461,443	449,041
Foreign currency translation	0	0
Acquisition related adjustments	22,932	12,402
Subsequent recognition of deferred tax assets	0
Balance at the end of the period	484,375	461,443
Financial Access Services
Changes in the carrying amount of goodwill
Balance at the beginning of the period	157,049	157,090
Foreign currency translation	14	(41)
Acquisition related adjustments	0	0
Subsequent recognition of deferred tax assets	(1,873)
Balance at the end of the period	155,190	157,049
Kiosk Sales and Services
Changes in the carrying amount of goodwill
Balance at the beginning of the period	15,860	5,745
Foreign currency translation	(819)	(661)
Acquisition related adjustments	2,925	10,776
Subsequent recognition of deferred tax assets	0
Balance at the end of the period	17,966	15,860
Central Credit Services
Changes in the carrying amount of goodwill
Balance at the beginning of the period	17,127	17,127
Foreign currency translation	0	0
Acquisition related adjustments	0	0
Subsequent recognition of deferred tax assets	0
Balance at the end of the period	17,127	17,127
Compliance Sales and Services
Changes in the carrying amount of goodwill
Balance at the beginning of the period	12,136	12,265
Foreign currency translation	0	0
Acquisition related adjustments	0	(129)
Subsequent recognition of deferred tax assets	0
Balance at the end of the period	12,136	12,136
Loyalty Sales and Services
Changes in the carrying amount of goodwill
Balance at the beginning of the period	41,395	41,395
Foreign currency translation	0	0
Acquisition related adjustments	0	0
Subsequent recognition of deferred tax assets	0
Balance at the end of the period	41,395	41,395
Mobile Technologies
Changes in the carrying amount of goodwill
Balance at the beginning of the period	10,860	0
Foreign currency translation	0	0
Acquisition related adjustments	(1,245)	10,860
Subsequent recognition of deferred tax assets	0
Balance at the end of the period	$ 9,615	$ 10,860

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Other Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Cost	$ 873,886	$ 813,241
Accumulated Amortization	639,748	574,966
Total	234,138	238,275
Contract rights under placement fee agreements
Finite-Lived Intangible Assets [Line Items]
Cost	57,821	57,821
Accumulated Amortization	21,592	12,252
Total	$ 36,229	45,569
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	$ 337,829	331,999
Accumulated Amortization	255,972	233,150
Total	$ 81,857	98,849
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	$ 453,453	401,087
Accumulated Amortization	340,286	309,285
Total	$ 113,167	91,802
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	$ 24,783	22,334
Accumulated Amortization	21,898	20,279
Total	$ 2,885	$ 2,055
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

GOODWILL AND OTHER INTANGIBLE ASSETS - Other Intangible Assets, Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended	12 Months Ended
	Oct. 31, 2021	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Amortization			$ 60,042,000	$ 59,558,000	$ 57,987,000
Placement fees and placement fee agreements	$ 28,900,000			500,000	31,500,000
Imputed interest in placement fees			0	0
Impairment of intangible assets				0	0
Finite lived intangibles		$ 234,138,000	234,138,000	238,275,000
Developed technology and software
Finite-Lived Intangible Assets [Line Items]
Development costs capitalized			49,400,000	46,300,000	$ 30,200,000
Finite lived intangibles		113,167,000	113,167,000	91,802,000
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Impairment of intangible assets		11,700,000
Finite lived intangibles		81,857,000	81,857,000	$ 98,849,000
Customer relationships \| Fair Value, Inputs, Level 3
Finite-Lived Intangible Assets [Line Items]
Finite lived intangibles		$ 500,000	$ 500,000
Useful life		5 years	5 years

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Anticipated Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Total	$ 234,138	$ 238,275
Finite-Lived Intangible Assets, Placed into Service
Finite-Lived Intangible Assets [Line Items]
2024	61,061
2025	44,143
2026	32,446
2027	13,755
2028	4,897
Thereafter	16,545
Total	172,847
Finite Lived Intangible Assets Not Yet Placed Into Service
Finite-Lived Intangible Assets [Line Items]
Total	$ 61,300

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Customer commissions payable	$ 74,376	$ 65,387
Contract liabilities	51,395	50,872
Accounts payable - trade	30,261	29,645
Payroll and related expenses	14,367	24,335
Accrued interest	9,616	9,451
Financial access processing and related expenses	8,670	7,829
Operating lease liabilities	7,079	6,507
Accrued income taxes	6,367	3,673
Contingent consideration and acquisition-related liabilities	5,623	12,030
Other	7,776	7,695
Total accounts payable and accrued expenses	$ 215,530	$ 217,424

LONG-TERM DEBT - Summary of Outstanding Indebtedness (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Aug. 03, 2021
Debt Instrument [Line Items]
Total debt	$ 986,500,000	$ 992,500,000
Debt issuance costs and discount	(12,035,000)	(14,505,000)
Total debt after debt issuance costs and discount	974,465,000	977,995,000
Current portion of long-term debt	(6,000,000)	(6,000,000)
Long-term debt, less current portion	968,465,000	971,995,000
Senior secured notes \| Credit Agreement, dated August 3, 2021
Debt Instrument [Line Items]
Principal amount of debt	$ 600,000,000	600,000,000	$ 600,000,000
Senior secured notes \| Credit Agreement, dated August 3, 2021 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread (as a percent)	2.50%
Revolving credit facility \| Credit Agreement, dated August 3, 2021
Debt Instrument [Line Items]
Total debt	$ 0	0
Principal amount of debt	$ 125,000,000
Revolving credit facility \| Credit Agreement, dated August 3, 2021 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread (as a percent)	2.50%
Senior secured notes
Debt Instrument [Line Items]
Total debt	$ 586,500,000	592,500,000
Senior secured notes \| Senior secured notes \| Credit Agreement, dated August 3, 2021
Debt Instrument [Line Items]
Total debt	586,500,000	592,500,000
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%

LONG-TERM DEBT - Narrative (Details)		12 Months Ended
LONG-TERM DEBT - Narrative (Details)	Aug. 03, 2021 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Total debt		$ 986,500,000	$ 992,500,000
New Credit Facilities
Debt Instrument [Line Items]
Basis spread adjustment, period one (as a percent)	0.10%
Basis spread adjustment, period two (as a percent)	0.30%
Basis spread adjustment, period three (as a percent)	0.40%
New Credit Facilities \| Eurodollar
Debt Instrument [Line Items]
Basis spread (as a percent)	0.50%
New Credit Facilities \| Base Rate
Debt Instrument [Line Items]
Basis spread (as a percent)	1.50%
New Credit Facilities \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread (as a percent)	2.50%
New Credit Agreement, dated May 9, 2017
Debt Instrument [Line Items]
Leverage ratio maximum		4.25
2017 Unsecured Notes \| Senior unsecured notes
Debt Instrument [Line Items]
Interest rate		5.00%
Senior Unsecured Notes Due 2029 \| Senior unsecured notes
Debt Instrument [Line Items]
Total debt		$ 400,000,000
Senior Unsecured Notes Due 2021 \| Senior unsecured notes
Debt Instrument [Line Items]
Debt issuance costs				$ 5,900,000
Senior secured notes \| Credit Agreement, dated August 3, 2021
Debt Instrument [Line Items]
Term of facility	7 years
Principal amount of debt	$ 600,000,000	$ 600,000,000	600,000,000
Percentage of par amount issued	0.9975
Senior secured notes \| Credit Agreement, dated August 3, 2021 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread (as a percent)		2.50%
Senior secured notes \| New Credit Agreement, dated May 9, 2017
Debt Instrument [Line Items]
Weighted average interest rate during period		7.59%
Revolving credit facility \| Credit Agreement, dated August 3, 2021
Debt Instrument [Line Items]
Principal amount of debt		$ 125,000,000
Borrowing capacity	$ 125,000,000
Periodic payment, percentage of principal		0.0025
Period for prepayment premium from closing date		6 months
Prepayment penalty, percentage of principal amount repaid		1.00%
Total debt		$ 0	$ 0
Revolving credit facility \| Credit Agreement, dated August 3, 2021 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread (as a percent)		2.50%

LONG-TERM DEBT - Maturities of Borrowings (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Maturities of borrowings
2024	$ 6,000
2025	6,000
2026	6,000
2027	6,000
2028	562,500
Thereafter	400,000
Total	$ 986,500	$ 992,500

STOCKHOLDER'S EQUITY (Details)	12 Months Ended
STOCKHOLDER'S EQUITY (Details)	Dec. 31, 2023 USD ($) vote $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	May 03, 2023 USD ($)	May 31, 2022 USD ($)	May 04, 2022 USD ($)
Class of Stock [Line Items]
Stock repurchase program, authorized amount \| $			$ 180,000,000		$ 180,000,000
Stock repurchase program, period in force	18 months
Stock repurchase program, remaining authorized repurchase amount \| $	$ 80,000,000			$ 150,000,000
Treasury stock acquired (in shares)	7,500,000	5,000,000
Treasury stock acquired (in usd per share) \| $ / shares	$ 13.40	$ 16.93
Repurchase of shares \| $	$ 100,000,000	$ 84,300,000
Convertible preferred stock authorized (in shares)	50,000,000	50,000,000
Convertible preferred stock outstanding (in shares)	0	0
Number of votes for a share of common stock \| vote	1
Common stock issued (in shares)	123,178,882	119,389,510
Treasury Stock
Class of Stock [Line Items]
Shares withheld from restricted stock awards (in shares)	600,000	700,000
Aggregate purchase price of shares repurchased or withheld from restricted stock awards \| $	$ 9,200,000	$ 12,000,000

WEIGHTED AVERAGE SHARES OF COMMON STOCK (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Weighted average shares
Weighted average number of common shares outstanding - basic (in shares)	87,176	90,494	89,284
Potential dilution of equity awards (in shares)	4,809	7,013	10,683
Weighted average number of common shares outstanding - diluted (in shares)	91,985	97,507	99,967
Anti-dilutive equity awards excluded from computation of earnings per share (in shares)	300	100

SHARE-BASED COMPENSATION - Summary of Award Activity (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity Incentive Plan
Restricted Stock Units
Number of shares available for grant (in shares)	2,100
Stock Options
Stock Options
Outstanding, beginning of period (in shares)	6,793
Granted (in shares)	103
Exercised (in shares)	(2,061)
Canceled or forfeited (in shares)	(31)
Outstanding, end of period (in shares)	4,804	6,793
Stock Options \| Equity Incentive Plan
Stock Options
Outstanding, beginning of period (in shares)	6,793
Granted (in shares)	103
Exercised (in shares)	(2,061)
Canceled or forfeited (in shares)	(31)
Outstanding, end of period (in shares)	4,804	6,793
Restricted Stock Units
Restricted Stock Units
Outstanding, beginning of period (in shares)	2,709
Granted (in shares)	1,555	1,300	1,000
Vested (in shares)	(1,728)	(2,100)	(1,600)
Canceled or forfeited (in shares)	(72)
Outstanding, end of period (in shares)	2,464	2,709
Restricted Stock Units \| Equity Incentive Plan
Restricted Stock Units
Outstanding, beginning of period (in shares)	2,709
Granted (in shares)	1,555
Vested (in shares)	(1,728)
Canceled or forfeited (in shares)	(72)
Outstanding, end of period (in shares)	2,464	2,709

SHARE-BASED COMPENSATION - Stock Options, Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from exercise of stock options	$ 13,739	$ 1,921	$ 18,251
Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	3.50%	2.90%
Expected life	5 years 1 month 6 days	4 years 10 months 24 days
Expected volatility	55.40%	55.70%
Unrecognized compensation expense	$ 800
Weighted-average period for recognition of unrecognized compensation expense	2 years 1 month 6 days
Time Based Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
Time Based Options \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Time Based Options \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
Total intrinsic value of options exercised	$ 18,300	$ 4,900	46,500
Non-cash compensation expense	400	100	300
Proceeds from exercise of stock options	$ 14,000	1,900	18,200
Vested and expected to vest	2 years 7 months 6 days
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	3.70%
Expected life	2 years 8 months 12 days
Expected volatility	48.40%
Expected dividend yield	0.00%
Unrecognized compensation expense	$ 20,000	$ 20,100	$ 23,300
Weighted-average period for recognition of unrecognized compensation expense	1 year 6 months	1 year 2 months 12 days	1 year 4 months 24 days
Non-cash compensation expense	$ 18,300	$ 19,700	$ 20,600
Tranche 1 \| Time Based Options \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%
Tranche 1 \| Time Based Options \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	33.00%
Tranche 2 \| Time Based Options \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%
Tranche 2 \| Time Based Options \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	33.00%
Tranche 3 \| Time Based Options \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%
Tranche 3 \| Time Based Options \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	33.00%
Tranche 4 \| Time Based Options \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%

SHARE-BASED COMPENSATION - Stock Option Activity (Details) - Stock Options - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Stock Options
Outstanding, beginning of period (in shares)	6,793
Granted (in shares)	103
Exercised (in shares)	(2,061)
Canceled or forfeited (in shares)	(31)
Outstanding, end of period (in shares)	4,804	6,793
weighted average period	4,794
Exercisable (in shares)	4,654
Weighted Average Exercise Price
Outstanding (in dollars per share)	$ 5.01
Granted (in dollars per share)	15.12
Exercised options (in dollars per share)	7.17
Canceled or forfeited (in dollars per share)	8.32
Outstanding (in dollars per share)	4.28	$ 5.01
Vested and expected to vest (in dollars per share)	4.26
Exercisable (in dollars per share)	$ 3.92
Weighted Average Life Remaining
Outstanding	2 years 7 months 6 days	2 years 9 months 18 days
Vested and expected to vest	2 years 7 months 6 days
Exercisable	2 years 4 months 24 days
Aggregate Intrinsic Value
Outstanding	$ 34,350	$ 63,604
Vested and expected to vest	34,350
Exercisable	$ 34,350

SHARE-BASED COMPENSATION - Stock Options by Exercise Price (Details) shares in Thousands	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Options Outstanding
Number Outstanding (in shares) \| shares	4,804
Options Exercisable
Number Exercisable (in shares) \| shares	4,654
$1.46 - $1.46
Range of Exercise Prices
Low (in dollars per share)	$ 1.46
High (in dollars per share)	$ 1.46
Options Outstanding
Number Outstanding (in shares) \| shares	985
Weighted Average Remaining Contract Life	2 years 4 months 24 days
Weighted Average Exercise Prices (in dollars per share)	$ 1.46
Options Exercisable
Number Exercisable (in shares) \| shares	985
Weighted Average Exercise Price (in dollars per share)	$ 1.46
$1.57 - $2.78
Range of Exercise Prices
Low (in dollars per share)	1.57
High (in dollars per share)	$ 2.78
Options Outstanding
Number Outstanding (in shares) \| shares	649
Weighted Average Remaining Contract Life	2 years 3 months 18 days
Weighted Average Exercise Prices (in dollars per share)	$ 2.60
Options Exercisable
Number Exercisable (in shares) \| shares	649
Weighted Average Exercise Price (in dollars per share)	$ 2.60
$3.29 - $3.29
Range of Exercise Prices
Low (in dollars per share)	3.29
High (in dollars per share)	$ 3.29
Options Outstanding
Number Outstanding (in shares) \| shares	1,812
Weighted Average Remaining Contract Life	3 years 2 months 12 days
Weighted Average Exercise Prices (in dollars per share)	$ 3.29
Options Exercisable
Number Exercisable (in shares) \| shares	1,812
Weighted Average Exercise Price (in dollars per share)	$ 3.29
$3.41 - $6.59
Range of Exercise Prices
Low (in dollars per share)	6.30
High (in dollars per share)	$ 7.74
Options Outstanding
Number Outstanding (in shares) \| shares	1,142
Weighted Average Remaining Contract Life	1 year 1 month 6 days
Weighted Average Exercise Prices (in dollars per share)	$ 7.34
Options Exercisable
Number Exercisable (in shares) \| shares	1,142
Weighted Average Exercise Price (in dollars per share)	$ 7.34
$6.90 - $7.61
Range of Exercise Prices
Low (in dollars per share)	7.88
High (in dollars per share)	$ 16.69
Options Outstanding
Number Outstanding (in shares) \| shares	216
Weighted Average Remaining Contract Life	8 years
Weighted Average Exercise Prices (in dollars per share)	$ 14.45
Options Exercisable
Number Exercisable (in shares) \| shares	66
Weighted Average Exercise Price (in dollars per share)	$ 11.75

SHARE-BASED COMPENSATION - Restricted Stock Units, Narrative (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restricted Stock Units (RSU)'s, Time-Based \| Tranche 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		33.00%
Vesting period	3 years	3 years	3 years
Restricted Stock Units (RSU)'s, Time-Based \| Tranche 1 \| Board of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Restricted Stock Units (RSU)'s, Time-Based \| Tranche 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			33.00%
Vesting period		1 year
Restricted Stock Units (RSU)'s, Time-Based \| Tranche 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	33.00%
Vesting period		2 years
Restricted Stock Units (RSU)'s, Time-Based \| Tranche 3 \| Board of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	10 years
Restricted Stock Units (RSU)'s, Time-Based \| Tranche 4
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
Restricted Stock Units (RSU)'s, Time-Based \| Tranche 4 \| Board of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	6 months
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	1,555	1,300	1,000
Vested (in shares)	1,728	2,100	1,600
Unrecognized compensation expense	$ 20.0	$ 20.1	$ 23.3
Weighted-average period for recognition of unrecognized compensation expense	1 year 6 months	1 year 2 months 12 days	1 year 4 months 24 days
Non-cash compensation expense	$ 18.3	$ 19.7	$ 20.6
Granted (in dollars per share)	$ 13.34	$ 16.08	$ 6.08

SHARE-BASED COMPENSATION - Restricted Stock Units Activity (Details) - Restricted Stock Units - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restricted Stock Units
Outstanding, beginning of period (in shares)	2,709
Granted (in shares)	1,555	1,300	1,000
Vested (in shares)	(1,728)	(2,100)	(1,600)
Forfeited (in shares)	(72)
Outstanding, end of period (in shares)	2,464	2,709
Vested and expected to vest (in shares)	2,081
Weighted Average Grant Date Fair Value
Outstanding (in dollars per share)	$ 13.46
Granted (in dollars per share)	13.34	$ 16.08	$ 6.08
Vested (in dollars per share)	9.77
Forfeited (in dollars per share)	16.59
Outstanding (in dollars per share)	15.88	$ 13.46
Vested and expected to vest (in dollars per share)	$ 16.47
Weighted Average Life Remaining (Years)
Outstanding, December 31, 2023	1 year 2 months 12 days	10 months 24 days
Vested and expected to vest after, December 31, 2023	1 year 1 month 6 days
Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2023	$ 27,747	$ 38,850
Vested and expected to vest after, December 31, 2023	$ 23,453

INCOME TAXES - Consolidated Loss Before Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Consolidated income (loss) before tax
Domestic	$ 104,798	$ 157,510	$ 100,232
Foreign	(3,207)	90	793
Income before income tax	$ 101,591	$ 157,600	$ 101,025

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 25
-Paragraph 1
-SubTopic 20
-Topic 940
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481913/940-20-25-1

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

INCOME TAXES - Income Tax (Benefit) Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income tax provision (benefit)
Domestic	$ 17,760	$ 36,440	$ (51,923)
Foreign	(166)	671	23
Total income tax provision (benefit)	17,594	37,111	(51,900)
Income tax provision (benefit)
Current	8,634	4,446	177
Deferred	8,960	32,665	(52,077)
Total income tax provision (benefit)	$ 17,594	$ 37,111	$ (51,900)

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

+ References + Details

INCOME TAXES - Federal Statutory Rate and Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income tax reconciliation
Federal statutory rate	21.00%	21.00%	21.00%
Foreign provision	(0.40%)	(0.10%)	0.00%
State/province income tax	3.30%	3.30%	3.50%
Compensation deduction limitations	2.10%	2.90%	2.50%
Stock-based compensation expense	(4.50%)	(2.50%)	(10.60%)
Adjustments to carrying values	1.90%	0.30%	1.70%
Research and development credit	(6.70%)	(2.20%)	(2.30%)
Valuation allowance	1.10%	0.00%	(67.20%)
Global intangible low-taxed income	0.00%	0.40%	0.10%
Non-deductible expenses - other	0.20%	0.00%	0.10%
Other	(0.70%)	0.40%	(0.20%)
Effective tax rate	17.30%	23.50%	(51.40%)

INCOME TAXES - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Deferred income tax assets related to:
Net operating losses	$ 5,171	$ 27,901	$ 84,619
Tax credits	17,570	18,467	14,688
Capitalized research expenditures	27,534	15,705	0
Accrued and prepaid expenses	9,989	10,481	11,284
Stock compensation expense	5,427	6,041	6,210
Accounts receivable allowances	1,293	1,204	1,275
Other	1,798	1,841	913
Valuation allowance	(1,818)	(739)	(804)	$ (68,746)
Total deferred income tax assets	66,964	80,901	118,185
Deferred income tax liabilities related to:
Other intangible assets	49,234	57,487	59,156
Property and equipment	24,755	23,352	23,610
Long-term debt	0	0	7
Other	6,139	4,472	3,291
Total deferred income tax liabilities	80,128	85,311	86,064
Deferred income taxes, net	$ (13,164)	$ (4,410)
Deferred income taxes, net			$ 32,121

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2020
Income Tax Examination [Line Items]
Net operating losses	$ 84,619	$ 5,171	$ 27,901
Unrecognized tax benefits	2,151	4,537	$ 2,566	$ 1,714
Undistributed earnings of foreign subsidiaries		18,500
State
Income Tax Examination [Line Items]
Net operating losses		4,100
Valuation allowance related to net operating loss carry forwards		600
Decrease in valuation allowance	67,900
Foreign
Income Tax Examination [Line Items]
Valuation allowance related to net operating loss carry forwards		1,100
Accumulated net operating losses		1,100
Federal
Income Tax Examination [Line Items]
Research and development credit carryforward		17,100
Solar tax credit		$ 500
Decrease in valuation allowance	$ 67,900

INCOME TAXES - Reconciliation of Deferred Tax Asset Valuation Allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Deferred Tax Assets, Valuation Allowance [Roll Forward]
Balance at beginning of period	$ 739	$ 804	$ 68,746
Valuation allowance - (reversal) charge	1,079	(65)	(67,942)
Balance at end of period	$ 1,818	$ 739	$ 804

INCOME TAXES - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Unrecognized tax benefit
Unrecognized tax benefit at beginning of period	$ 2,566	$ 2,151	$ 1,714
Gross increases — tax positions in prior period	1,189	415	437
Gross increases — tax positions in current period	782	0	0
Unrecognized tax benefit at end of period	$ 4,537	$ 2,566	$ 2,151

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

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

$ 807,821

$ 782,519

$ 660,385

161,240

165,322

115,449

260,931

216,959

188,900

67,633

60,527

39,051

78,691

66,801

61,487

60,042

59,558

57,987

628,537

569,167

462,874

Games trade and loans receivable

179,284

213,352

197,511

Total assets

2,123,870

1,918,243

429,154

436,426

376,729

^[1]

107,396

111,791

81,756

103,666

76,496

70,150

44,365

40,353

26,060

68,833

57,106

53,876

44,201

43,044

42,866

368,461

328,790

274,708

60,693

107,636

102,021

Total assets

931,322

911,907

FinTech equipment

378,667

346,093

283,656

^[1]

53,844

53,531

33,693

157,265

140,463

118,750

23,268

20,174

12,991

9,858

9,695

7,611

15,841

16,514

15,121

260,076

240,377

188,166

Gaming operations | Games trade and loans receivable

118,591

105,716

95,490

Total assets

1,192,548

1,006,336

304,132

292,873

272,885

Gaming equipment and systems | Games trade and loans receivable

^[1]

35,205

25,153

21,663

125,022

143,553

103,844

Financial access services | FinTech equipment

^[1]

72,191

86,638

60,093

225,054

206,860

178,019

Software and other | FinTech equipment

^[1]

11,064

10,186

6,779

99,490

80,232

67,797

Hardware | FinTech equipment

^[1]

6,159

4,125

4,129

54,123

59,001

37,840