EVERI HOLDINGS INC., 10-Q filed on 5/12/2025
Quarterly Report
v3.25.1
Cover - shares
 3 Months Ended
Mar. 31, 2025
May 06, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2025  
Document Transition Report false  
Entity File Number 001-32622  
Entity Registrant Name EVERI HOLDINGS INC.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 20-0723270  
Entity Address, Address Line One 7250 S. Tenaya Way  
Entity Address, Address Line Two Suite 100  
Entity Address, City or Town Las Vegas  
Entity Address, State or Province NV  
Entity Address, Postal Zip Code 89113  
City Area Code 800  
Local Phone Number 833-7110  
Title of 12(b) Security Common Stock, $0.001 par value  
Trading Symbol EVRI  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   86,856,253
Entity Central Index Key 0001318568  
Amendment Flag false  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q1  
v3.25.1
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenues    
Total revenues $ 181,296 $ 189,346
Costs and expenses    
Total cost of revenues 37,825 36,210
Operating expenses 66,524 73,614
Research and development 19,036 19,310
Depreciation 21,491 19,951
Amortization 16,430 15,509
Total costs and expenses 161,306 164,594
Operating income 19,990 24,752
Other expenses    
Interest expense, net of interest income 15,633 18,800
Total other expenses 15,633 18,800
Income before income tax 4,357 5,952
Income tax provision 434 1,398
Net income 3,923 4,554
Foreign currency translation gain (loss) 645 (1,693)
Comprehensive income $ 4,568 $ 2,861
Earnings per share    
Basic (in dollars per share) $ 0.05 $ 0.05
Diluted (in dollars per share) $ 0.04 $ 0.05
Weighted average common shares outstanding    
Basic (in shares) 86,433 83,777
Diluted (in shares) 89,787 87,287
Games    
Revenues    
Total revenues $ 85,726 $ 97,122
Costs and expenses    
Total cost of revenues [1] 23,561 23,575
Operating expenses 25,997 33,352
Research and development 11,518 11,791
Depreciation 18,800 17,299
Amortization 12,625 11,412
Total costs and expenses 92,501 97,429
Operating income (6,775) (307)
Games | Gaming operations    
Revenues    
Total revenues 63,492 72,622
Costs and expenses    
Total cost of revenues [1] 10,652 9,515
Games | Gaming equipment and systems    
Revenues    
Total revenues 22,234 24,500
Costs and expenses    
Total cost of revenues [1] 12,909 14,060
FinTech    
Revenues    
Total revenues 95,570 92,224
Costs and expenses    
Total cost of revenues [1] 14,264 12,635
Operating expenses 40,527 40,262
Research and development 7,518 7,519
Depreciation 2,691 2,652
Amortization 3,805 4,097
Total costs and expenses 68,805 67,165
Operating income 26,765 25,059
FinTech | Financial access services    
Revenues    
Total revenues 55,455 57,419
Costs and expenses    
Total cost of revenues [1] 2,849 2,697
FinTech | Software and other    
Revenues    
Total revenues 27,287 25,776
Costs and expenses    
Total cost of revenues [1] 2,985 3,132
FinTech | Hardware    
Revenues    
Total revenues 12,828 9,029
Costs and expenses    
Total cost of revenues [1] $ 8,430 $ 6,806
[1] Exclusive of depreciation and amortization.
v3.25.1
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 712,525 $ 400,677
Settlement receivables 93,567 109,640
Trade and other receivables, net of allowances for credit losses of $5,840 and $5,656 at March 31, 2025 and December 31, 2024, respectively 84,598 87,855
Inventory 69,659 67,821
Prepaid expenses and other current assets 68,341 68,114
Total current assets 1,028,690 734,107
Non-current assets    
Property and equipment, net 153,603 157,992
Goodwill 736,583 736,470
Other intangible assets, net 213,469 216,915
Other receivables 5,366 6,329
Deferred tax assets 4,551 4,551
Other assets 61,798 65,545
Total non-current assets 1,175,370 1,187,802
Total assets 2,204,060 1,921,909
Current liabilities    
Settlement liabilities 729,382 460,513
Accounts payable and accrued expenses 226,320 221,015
Current portion of long-term debt 0 0
Total current liabilities 955,702 681,528
Non-current liabilities    
Deferred tax liabilities 6,514 6,514
Long-term debt, less current portion 951,552 950,935
Other accrued expenses and liabilities 26,092 26,996
Total non-current liabilities 984,158 984,445
Total liabilities 1,939,860 1,665,973
Commitments and contingencies (Note 12)
Stockholders’ equity    
Convertible preferred stock, $0.001 par value, 50,000 shares authorized and no shares outstanding at March 31, 2025 and December 31, 2024, respectively 0 0
Common stock, $0.001 par value, 500,000 shares authorized and 125,966 and 86,515 shares issued and outstanding at March 31, 2025, respectively, and 125,853 and 86,402 shares issued and outstanding at December 31, 2024, respectively 126 126
Additional paid-in capital 583,502 579,806
Retained earnings 81,670 77,747
Accumulated other comprehensive loss (6,813) (7,458)
Treasury stock, at cost, 39,451 shares at March 31, 2025 and December 31, 2024, respectively (394,285) (394,285)
Total stockholders’ equity 264,200 255,936
Total liabilities and stockholders’ equity $ 2,204,060 $ 1,921,909
v3.25.1
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets    
Allowances for doubtful accounts $ 5,840 $ 5,656
Stockholders’ equity    
Convertible preferred stock, par value (in dollars per share) $ 0.001 $ 0.001
Convertible preferred stock authorized (in shares) 50,000,000 50,000,000
Convertible preferred stock outstanding (in shares) 0 0
Common stock par value (in dollars per share) $ 0.001 $ 0.001
Common stock authorized (in shares) 500,000,000 500,000,000
Common stock issued (in shares) 125,966,000 125,853,000
Common stock outstanding (in shares) 86,515,000 86,402,000
Treasury stock (in shares) 39,451,000 39,451,000
v3.25.1
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net income (loss) $ 3,923 $ 4,554
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation 21,491 19,951
Amortization 16,430 15,509
Non-cash lease expense 1,566 1,487
Amortization of financing costs and discounts 713 713
Loss on sale or disposal of assets 43 89
Accretion of contract rights 2,335 2,335
Provision for credit losses 3,471 2,946
Deferred income taxes 0 (3,353)
Reserve for inventory obsolescence 745 426
Stock-based compensation 3,225 1,942
Changes in operating assets and liabilities:    
Settlement receivables 16,105 18,940
Trade and other receivables 498 (112)
Inventory (3,253) (8,495)
Prepaid expenses and other assets 2,737 (9,322)
Settlement liabilities 268,846 (20,991)
Accounts payable and accrued expenses 3,377 28,507
Net cash provided by operating activities 342,252 55,126
Cash flows from investing activities    
Capital expenditures (30,770) (42,744)
Proceeds from sale of property and equipment 19 68
Net cash used in investing activities (30,751) (42,676)
Cash flows from financing activities    
Repayments of term loan 0 (6,000)
Proceeds from exercise of stock options 520 447
Treasury stock - equity award activities, net of shares withheld 0 (97)
Payment of deferred acquisition consideration (8) (4,301)
Net cash provided by (used in) financing activities 512 (9,951)
Effect of exchange rates on cash and cash equivalents 612 (960)
Cash, cash equivalents and restricted cash    
Net increase for the period 312,625 1,539
Balance, beginning of the period 408,581 272,506
Balance, end of the period 721,206 274,045
Supplemental cash disclosures    
Cash paid for interest 24,156 27,397
Cash received for interest 3,622 3,714
Cash paid (refunded) for income tax, net 6,120 (83)
Supplemental non-cash disclosures    
Accrued and unpaid capital expenditures 3,688 3,362
Transfer of leased gaming equipment to inventory $ 2,318 $ 1,116
v3.25.1
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)
shares in Thousands, $ in Thousands
Total
Common Stock
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Loss
Treasury Stock
Balance, beginning of period (in shares) at Dec. 31, 2023   123,179        
Balance, beginning of period at Dec. 31, 2023 $ 226,142 $ 123 $ 560,945 $ 62,731 $ (3,467) $ (394,190)
Increase (Decrease) in Stockholders' Equity            
Net income (loss) 4,554     4,554    
Foreign currency translation (1,693)       (1,693)  
Stock-based compensation expense 1,942   1,942      
Exercise of options (in shares)   81        
Exercise of options 447   447      
Restricted share vesting and withholding (in shares)   27        
Restricted stock vesting (97)         (97)
Balance, end of period (in shares) at Mar. 31, 2024   123,287        
Balance, end of period at Mar. 31, 2024 $ 231,295 $ 123 563,334 67,285 (5,160) (394,287)
Balance, beginning of period (in shares) at Dec. 31, 2024 86,402 125,853        
Balance, beginning of period at Dec. 31, 2024 $ 255,936 $ 126 579,806 77,747 (7,458) (394,285)
Increase (Decrease) in Stockholders' Equity            
Net income (loss) 3,923     3,923    
Foreign currency translation 645       645  
Stock-based compensation expense 3,225   3,225      
Exercise of options (in shares)   81        
Exercise of options 471   471      
Restricted share vesting and withholding (in shares)   32        
Restricted stock vesting $ 0          
Balance, end of period (in shares) at Mar. 31, 2025 86,515 125,966        
Balance, end of period at Mar. 31, 2025 $ 264,200 $ 126 $ 583,502 $ 81,670 $ (6,813) $ (394,285)
v3.25.1
BUSINESS
 3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
BUSINESS BUSINESS
Everi Holdings Inc. (“Everi Holdings,” or “Everi”) is a holding company, the assets of which are the issued and outstanding shares of capital stock of each of Everi Payments Inc. (“Everi FinTech” or “FinTech”) and Everi Games Holding Inc., which owns all of the issued and outstanding shares of capital stock of Everi Games Inc. (“Everi Games” or “Games”). Unless otherwise indicated, the terms the “Company,” “we,” “us” and “our” refer to Everi Holdings together with its consolidated subsidiaries.
Everi develops and offers products and services that provide gaming entertainment, improve our customers’ patron engagement, and help our casino customers operate their businesses more efficiently. We develop and supply entertaining game content, gaming machines and gaming systems and services for land-based and iGaming operators. Everi is a provider of financial technology solutions that power casino floors, provide operational efficiencies, and help fulfill regulatory requirements. The Company also develops and supplies player loyalty tools and mobile-first applications that enhance patron engagement for our customers and venues in the casino, sports, entertainment and hospitality industries. In addition, the Company provides bingo solutions through its consoles, electronic gaming tablets and related systems.
Everi reports its financial performance, and organizes and manages its operations, across the following two business segments: (i) Games and (ii) FinTech.
Everi Games provides gaming operators with gaming technology and entertainment products and services, including: (i) gaming machines, primarily comprising Class II, Class III and Historic Horse Racing (“HHR”) slot machines placed under participation and fixed-fee lease arrangements or sold to casino customers; (ii) providing and maintaining the central determinant systems for the video lottery terminals (“VLTs”) installed in the State of New York and similar technology in certain tribal jurisdictions; (iii) business-to-business (“B2B”) digital online gaming activities; and (iv) bingo solutions through consoles, integrated electronic gaming tablets and related systems.
Everi FinTech provides gaming operators with financial technology products and services, including: (i) financial access and related services supporting digital, cashless and physical cash options across mobile, assisted and self-service channels; (ii) loyalty and marketing software and tools, regulatory and compliance (“RegTech”) software solutions, other information-related products and services, and hardware maintenance services; and (iii) associated casino patron self-service hardware that utilizes our financial access, software and other services. We also develop and offer mobile-first applications aimed at enhancing patron engagement for customers in the casino, sports, entertainment, and hospitality industries. Our solutions are secured using an end-to-end security suite to protect against cyber-related attacks, allowing us to maintain appropriate levels of security. These solutions include: (i) 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; (ii) accounts for the CashClub Wallet, check warranty services, self-service loyalty and fully integrated kiosk maintenance services; (iii) self-service loyalty tools and promotion management software; (iv) compliance, audit, and data software; (v) casino credit data and reporting services; (vi) marketing and promotional offering subscription-based services; and (vii) other ancillary offerings.
v3.25.1
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 3 Months Ended
Mar. 31, 2025
Accounting Policies [Abstract]  
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation
Our Financial Statements included herein have been prepared by us pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Some of the information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) have been condensed or omitted pursuant to such rules and regulations, although we believe the disclosures are adequate to make the information presented not misleading. In the opinion of management, all adjustments (which include normal recurring adjustments) necessary for a fair statement of results for the interim periods have been made. The results for the three months ended March 31, 2025 are not necessarily indicative of results to be expected for the full fiscal year. The Financial Statements should be read in conjunction with the consolidated financial statements and notes thereto included in the most recently filed Annual Report on Form 10-K for the year ended December 31, 2024 (the “Annual Report”).
Restricted Cash
Our restricted cash primarily consists of: (i) funds held in connection with certain customer and vendor agreements; (ii) funds held in connection with a sponsorship agreement; (iii) wide-area progressive (“WAP”) related restricted funds; and (iv) financial access activities related to cash held on behalf of patrons and funds required to be held to cover underlying financial access service transactions. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported on our Balance Sheets that sum to the total of the same such amounts shown on the Statements of Cash Flows for the three months ended March 31, 2025 (in thousands).
Classification on our Balance Sheets
At March 31, 2025
At December 31, 2024
Cash and cash equivalentsCash and cash equivalents$712,525 $400,677 
Restricted cash - currentPrepaid expenses and other current assets7,580 7,803 
Restricted cash - non-currentOther assets1,101 101 
Total$721,206 $408,581 
Fair Values of Financial Instruments
The fair value of a financial instrument represents the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. Fair value estimates are made at a specific point in time, based upon relevant market information about the financial instrument.
The carrying amount of cash and cash equivalents, short-term restricted cash, settlement receivables, short-term trade and other receivables, settlement liabilities, and accounts payable and accrued expenses approximate fair value due to the short-term maturities of these instruments. The fair value of long-term trade and loans receivable is estimated by discounting expected future cash flows using current interest rates at which similar loans would be made to borrowers with similar credit ratings and remaining maturities, which represent Level 2 inputs. The fair value of long-term accounts payable is estimated by discounting the total obligation. As of March 31, 2025 and December 31, 2024, the fair value of long-term trade and loans receivable approximated the carrying value due to contractual terms generally being slightly over 12 months. The fair value of our borrowings is estimated based on various inputs to determine a market price, such as: market demand and supply, size of tranche, maturity, and similar instruments trading in more active markets.
The estimated fair value and outstanding balances of our borrowings are as follows (amounts in thousands):
 Level of HierarchyFair ValueOutstanding Balance
March 31, 2025   
$600 million term loan
2$561,551 $560,500 
$400 million unsecured notes
2$402,000 $400,000 
December 31, 2024   
$600 million term loan
2$561,201 $560,500 
$400 million unsecured notes
2$400,000 $400,000 
The fair values of our borrowings were determined using Level 2 inputs based on quoted market prices for these securities.
Reclassification of Balances
Certain amounts in the accompanying Financial Statements have been reclassified to be consistent with the current year presentation. These reclassifications had no effect on net income or financial condition for any period presented.
Recent Accounting Guidance
Recently Adopted Accounting Guidance
None.
Recent Accounting Guidance Not Yet Adopted
StandardDescription
Date of Planned Adoption
Effect on Financial Statements
ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosure
The amendments in this update require enhanced income tax disclosures, primarily concerning the rate reconciliation and income taxes paid information.
December 31, 2025We are currently evaluating the effect of adopting this ASU on our Financial Statements.
ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses
The amendments in this update require disclosure, in the notes to financial statements, of specified information about certain costs and expenses.December 31, 2027We are currently evaluating the effect of adopting this ASU on our Financial Statements.
As of March 31, 2025, other than what has been described above, we do not anticipate recently issued accounting guidance to have a significant impact on our Financial Statements.
v3.25.1
REVENUES
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
REVENUES REVENUES
Overview
We evaluate the recognition of revenue based on the criteria set forth in Accounting Standards Codification (“ASC”) 606 — Revenue from Contracts with Customers and ASC 842 — Leases, as appropriate. We recognize revenue upon transferring control of goods or services to our customers in an amount that reflects the consideration we expect to receive in exchange for those goods or services. We enter into contracts with customers that include various performance obligations consisting of goods, services, or combinations of goods and services. Timing of the transfer of control varies based on the nature of the contract. We recognize revenue net of any sales and other taxes collected from customers, which are subsequently remitted to governmental authorities and are not included in revenues or operating expenses. We measure revenue based on the consideration specified in a contract with a customer and adjusted, as necessary.
Disaggregation of Revenues
We disaggregate revenues based on the nature and timing of the cash flows generated by such revenues as presented in “Note 17 — Segment Information.”
Contract Balances
Since our contracts may include multiple performance obligations, there is often a timing difference between cash collections and the satisfaction of such performance obligations and revenue recognition. Such arrangements are evaluated to determine whether contract assets and liabilities exist. We generally record contract assets when the timing of billing differs from when revenue is recognized due to contracts containing specific performance obligations that are required to be met prior to a customer being invoiced. We generally record contract liabilities when cash is collected in advance of us satisfying performance obligations, including those that are satisfied over a period of time. Balances of our contract assets and contract liabilities may fluctuate due to timing of cash collections.
The following table summarizes our contract assets and contract liabilities arising from contracts with customers (in thousands):
20252024
Contract assets(1)
Balance, January 1
$35,564 $26,635 
Balance, March 3135,045 31,298 
        (Decrease) increase
$(519)$4,663 
Contract liabilities(2)
Balance, January 1
$63,563 $51,799 
Balance, March 3159,959 56,241 
        (Decrease) increase
$(3,604)$4,442 
1.Contract assets are included within prepaid expenses and other current assets and other assets on our Balance Sheets.
2.Contract liabilities are included within accounts payable and accrued expenses and other accrued expenses and liabilities on our Balance Sheets.
We recognized approximately $21.7 million and $15.9 million in revenue that was included in the beginning contract liabilities balance during the three months ended March 31, 2025 and 2024, respectively.
Games Revenues
Our products and services include electronic gaming devices, such as Native American Class II offerings and other electronic bingo products, Class III slot machine offerings, HHR offerings, integrated electronic bingo gaming tablets, VLTs installed in the State of New York and similar technology in certain tribal jurisdictions, B2B digital online gaming activities, accounting and central determinant systems, and other back-office systems. We conduct our Games segment business based on results generated from the following major revenue streams: (i) Gaming Operations; and (ii) Gaming Equipment and Systems.
We recognize our gaming operations revenue based on criteria set forth in ASC 842 or ASC 606, as applicable. The amount of lease revenue included in our gaming operations revenues and recognized under ASC 842 was approximately $41.6 million and $46.4 million for the three months ended March 31, 2025 and 2024, respectively.
FinTech Revenues
Our FinTech products and services include solutions that we offer to gaming establishments to provide their patrons with financial access and funds-based services supporting digital, cashless and physical cash options across mobile, assisted and self-service channels along with related loyalty and marketing tools, and other information-related products and services. We also develop and offer mobile-first applications aimed at enhancing patron engagement for customers in the casino, sports, entertainment, and hospitality industries. In addition, our services operate as part of an end-to-end security suite to protect against cyber-related attacks, allowing us to maintain appropriate levels of security. These solutions include: (i) 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; (ii) accounts for the CashClub Wallet, check warranty services, self-service loyalty and fully integrated kiosk maintenance services; (iii) self-service loyalty tools and promotion management software; (iv) compliance, audit, and data software; (v) casino credit data and reporting services; (vi) marketing and promotional offering subscription-based services; and (vii) other ancillary offerings. We conduct our FinTech segment business based on results generated from the following major revenue streams: (i) Financial Access Services; (ii) Software and Other; and (iii) Hardware.
Hardware revenues are derived from the sale of our financial access and loyalty kiosks and related equipment and are accounted for under ASC 606, unless such transactions meet the definition of a sales type or direct financing lease, which are accounted for under ASC 842. We did not have any significant financial access and loyalty kiosk and related equipment sales contracts accounted for under ASC 842 during the three months ended March 31, 2025 and 2024, respectively.
v3.25.1
LEASES
 3 Months Ended
Mar. 31, 2025
Leases [Abstract]  
LEASES LEASES
Lessee
Supplemental balance sheet information related to our operating leases is as follows (in thousands):
Classification on our Balance Sheets
At March 31, 2025
At December 31, 2024
Assets
Operating lease right-of-use assets
Other assets, non-current$23,087 $24,299 
Liabilities
Current operating lease liabilitiesAccounts payable and accrued expenses$7,158 $7,579 
Non-current operating lease liabilitiesOther accrued expenses and liabilities$20,928 $22,472 
Supplemental cash flows information related to leases is as follows (in thousands):
Three Months Ended March 31,
20252024
Cash paid for:
Long-term operating leases$2,360 $1,839 
Short-term operating leases$564 $554 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases
$— $671 
Other information related to lease terms and discount rates is as follows:
At March 31, 2025At December 31, 2024
Weighted average remaining lease term (in years):
Operating leases6.446.41
Weighted average discount rate:
Operating leases6.39 %6.32 %
Components of lease expense are as follows (in thousands):
Three Months Ended March 31,
20252024
Operating lease cost:
Operating lease cost
$1,979 $1,952 
Variable lease cost $399 $340 
Maturities of lease liabilities are summarized as follows as of March 31, 2025 (in thousands):

Year Ending December 31, Amount
2025 (excluding the three months ended March 31, 2025)
$6,473 
2026
6,364 
2027
4,000 
2028
3,430 
2029
2,580 
Thereafter12,186 
Total future minimum lease payments 35,033 
Less: Amount representing interest 6,947 
Present value of future minimum lease payments28,086 
Less: Current operating lease obligations7,158 
Long-term lease obligations$20,928 
Lessor
Supplemental balance sheet information related to our sales-type leases is as follows (in thousands):
Classification on our Balance Sheets
At March 31, 2025
At December 31, 2024
Assets
Net investment in sales-type leases — currentTrade and other receivables, net$1,944 $1,902 
LEASES LEASES
Lessee
Supplemental balance sheet information related to our operating leases is as follows (in thousands):
Classification on our Balance Sheets
At March 31, 2025
At December 31, 2024
Assets
Operating lease right-of-use assets
Other assets, non-current$23,087 $24,299 
Liabilities
Current operating lease liabilitiesAccounts payable and accrued expenses$7,158 $7,579 
Non-current operating lease liabilitiesOther accrued expenses and liabilities$20,928 $22,472 
Supplemental cash flows information related to leases is as follows (in thousands):
Three Months Ended March 31,
20252024
Cash paid for:
Long-term operating leases$2,360 $1,839 
Short-term operating leases$564 $554 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases
$— $671 
Other information related to lease terms and discount rates is as follows:
At March 31, 2025At December 31, 2024
Weighted average remaining lease term (in years):
Operating leases6.446.41
Weighted average discount rate:
Operating leases6.39 %6.32 %
Components of lease expense are as follows (in thousands):
Three Months Ended March 31,
20252024
Operating lease cost:
Operating lease cost
$1,979 $1,952 
Variable lease cost $399 $340 
Maturities of lease liabilities are summarized as follows as of March 31, 2025 (in thousands):

Year Ending December 31, Amount
2025 (excluding the three months ended March 31, 2025)
$6,473 
2026
6,364 
2027
4,000 
2028
3,430 
2029
2,580 
Thereafter12,186 
Total future minimum lease payments 35,033 
Less: Amount representing interest 6,947 
Present value of future minimum lease payments28,086 
Less: Current operating lease obligations7,158 
Long-term lease obligations$20,928 
Lessor
Supplemental balance sheet information related to our sales-type leases is as follows (in thousands):
Classification on our Balance Sheets
At March 31, 2025
At December 31, 2024
Assets
Net investment in sales-type leases — currentTrade and other receivables, net$1,944 $1,902 
v3.25.1
BUSINESS COMBINATIONS
 3 Months Ended
Mar. 31, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
BUSINESS COMBINATIONS BUSINESS COMBINATIONS
We account for business combinations in accordance with ASC 805 — Business Combinations, which requires that the identifiable assets acquired and liabilities assumed be recorded at their estimated fair values on the acquisition date separately from goodwill, which is the excess of the fair value of the purchase price over the fair values of these identifiable assets and liabilities. We include the results of operations of an acquired business starting from the acquisition date.
Pending Proposed Merger
On February 28, 2024, the Company entered into definitive agreements with, among others, International Game Technology PLC, a public limited company incorporated under the laws of England and Wales (“IGT”), pursuant to which IGT agreed to spin-off a newly created subsidiary, which will own IGT’s Gaming & Digital business (“IGT Gaming”), with the Company acquiring IGT Gaming in a series of transactions (the “Original Proposed Transaction”). Upon the closing of the Original Proposed Transaction, under the terms of the agreements, IGT shareholders were expected to own approximately 54% of the combined company, with the Company’s existing stockholders expected to own approximately 46% of the combined company.
On February 28, 2024, the Company and Ignite Rotate LLC, a subsidiary of IGT (“Spinco”), entered into a debt commitment letter and related letters with the lenders specified therein. On March 29, 2024, the Company and Spinco entered into an amended and restated debt commitment letter and related amended and restated letters (as amended, the “Commitment Letter”), pursuant to which the lenders committed to provide the Company and such subsidiary with up to $3.7 billion, together with a revolver of $0.8 billion, used to refinance the existing debt of the Company and its subsidiaries, and distribute funds to IGT, with the remainder to be used to pay the combined company’s fees, costs and expenses in connection with the Original Proposed Transaction, subject to the satisfaction of certain customary closing conditions including the consummation of the Original Proposed Transaction described above.
On July 26, 2024, the Company entered into definitive agreements with, among others, IGT and Voyager Parent, LLC, a Delaware limited liability company (“Buyer”), whereby IGT Gaming and Everi will be simultaneously acquired by Buyer in an all-cash transaction (the “Proposed Transaction”). Following the closing of the Proposed Transaction, IGT Gaming and Everi will be privately owned companies that are part of one combined enterprise and Everi’s common stock will be delisted from the New York Stock Exchange and deregistered under the Securities Exchange Act of 1934, as amended. Under the terms of the agreements, Everi stockholders will receive $14.25 per share in cash (subject to adjustment for any stock or interest split, division or subdivision of shares, stock dividend, reverse stock split, combination of shares, reclassification, recapitalization, or other similar transaction) and IGT will receive $4.1 billion of gross cash proceeds for IGT Gaming, subject to customary transaction adjustments in accordance with the definitive agreements. The acquisitions of IGT Gaming and Everi by Buyer are cross-conditioned. The transaction is subject to customary closing conditions, including the receipt of regulatory approvals. In addition, on July 26, 2024, immediately prior to and in connection with the entry into the definitive agreements for the Proposed Transaction, each of the definitive agreements for the Original Proposed Transaction, including the Commitment Letter, was terminated by mutual consent of the respective parties thereto, effective immediately. There were no termination or other penalties surrounding the termination of such agreements.
Buyer has obtained equity financing commitments and debt financing commitments for the purpose of funding the Proposed Transaction and paying related fees and expenses. Certain funds managed by affiliates of Apollo Global Management, Inc. (the “Guarantors”) have committed to invest in Buyer an aggregate amount of up to $2.3 billion, subject to the terms and conditions set forth in the equity commitment letter, and have entered into a limited guarantee in favor of IGT and the Company, pursuant to which the Guarantors are guaranteeing certain obligations of Buyer in connection with the merger agreement relating to the Proposed Transaction, including the termination fee and certain other fees, indemnities, and expenses, subject to a maximum aggregate liability cap. In addition, certain debt financing sources have committed to lend an aggregate principal amount of up to $4.3 billion, together with a committed revolving credit facility in an aggregate principal amount of up to $0.8 billion, to Buyer for the purpose of funding the Proposed Transaction, subject to the terms and conditions set forth in the debt commitment letter and any related fee letter. In addition, De Agostini S.p.A., a società per azioni organization under the laws of Italy and the controlling shareholder of IGT (“De Agostini”), has entered into a letter agreement with an affiliate of Buyer, pursuant to which De Agostini will make a minority investment in an indirect parent of Buyer.
In connection with the Proposed Transaction, we incurred transaction costs of approximately $0.4 million during the three months ended March 31, 2025, and employee retention costs of approximately $4.7 million during the three months ended March 31, 2025, which are included within operating expenses on our Statements of Operations.
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. Contractually, we owe approximately $2.4 million as a final payment based on the achievement of a certain revenue target two years following the Intuicode Closing Date. 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 on our Balance Sheets. The change in fair value of the contingent consideration during the period ended March 31, 2025 was not material.
v3.25.1
FUNDING AGREEMENTS
 3 Months Ended
Mar. 31, 2025
A T M Funding Agreement Disclosure [Abstract]  
FUNDING AGREEMENTS FUNDING AGREEMENTS
We have commercial arrangements with third-party vendors to provide cash for certain of our fund dispensing devices. For the use of these funds, we pay a usage fee on either the average daily balance of funds utilized multiplied by a contractually defined usage rate or the amounts supplied multiplied by a contractually defined usage rate. These usage fees, reflected as interest expense on our Statements of Operations, were approximately $3.6 million and $4.8 million for the three months ended March 31, 2025 and 2024, 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 on 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 $258.4 million and $379.3 million as of March 31, 2025 and December 31, 2024, respectively.
We are responsible for any loss of cash in the fund dispensing devices under this agreement, and we self-insure for this type of risk. There were no material losses for the three months ended March 31, 2025 and 2024, respectively.
v3.25.1
TRADE AND OTHER RECEIVABLES
 3 Months Ended
Mar. 31, 2025
Receivables [Abstract]  
TRADE AND OTHER RECEIVABLES TRADE AND OTHER RECEIVABLES
Trade and other receivables represent short-term credit granted to customers and long-term loans receivable in connection with our Games and FinTech equipment and software, and compliance products. Trade and loans receivable generally do not require collateral.
The balance of trade and loans receivable consists of outstanding balances owed to us by gaming operators. Other receivables include income tax receivables, our net investment in sales-type leases and other miscellaneous receivables.
The balance of trade and other receivables consisted of the following (in thousands):
 At March 31,At December 31,
20252024
Trade and other receivables, net  
Games trade and loans receivable$56,285 $61,298 
FinTech trade and loans receivable
27,272 27,288 
Other receivables6,407 5,598 
Total trade and other receivables, net89,964 94,184 
Non-current portion of receivables  
Games trade and loans receivable1,800 2,461 
FinTech trade and loans receivable
3,566 3,868 
Total non-current portion of receivables5,366 6,329 
Total trade and other receivables, current portion$84,598 $87,855 
Allowance for Credit Losses
The activity in our allowance for credit losses for the three months ended March 31, 2025 and 2024 is as follows (in thousands):
Three Months Ended March 31,
20252024
Beginning allowance for credit losses$(5,656)$(5,210)
Provision(3,471)(2,946)
Charge-offs, net of recoveries3,287 2,923 
Ending allowance for credit losses$(5,840)$(5,233)
v3.25.1
INVENTORY
 3 Months Ended
Mar. 31, 2025
Inventory Disclosure [Abstract]  
INVENTORY INVENTORY
Our inventory primarily consists of component parts as well as work-in-progress and finished goods. The cost of inventory includes cost of materials, labor, overhead and freight, and is accounted for using the first in, first out method. Our inventory is stated at the lower of cost or net realizable value.
Inventory consisted of the following (in thousands):
 At March 31,At December 31,
 20252024
Inventory  
Component parts$55,886 $54,324 
Work-in-progress2,144 918 
Finished goods11,629 12,579 
Total inventory$69,659 $67,821 
v3.25.1
PROPERTY AND EQUIPMENT
 3 Months Ended
Mar. 31, 2025
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT PROPERTY AND EQUIPMENT
Property and equipment consist of the following (in thousands):
  At March 31, 2025At December 31, 2024
Useful Life
(Years)		CostAccumulated
Depreciation		Net Book
Value		CostAccumulated
Depreciation		Net Book
Value
Property and equipment       
Rental pool - deployed
2-5
$293,694 $201,398 $92,296 $297,909 $201,141 $96,768 
Rental pool - undeployed
2-5
47,914 34,216 13,698 42,360 30,364 11,996 
FinTech equipment
1-5
29,163 21,258 7,905 29,218 20,666 8,552 
Leasehold and building improvementsLease Term16,660 4,108 12,552 16,630 3,597 13,033 
Machinery, office, and other equipment
1-5
67,681 40,529 27,152 65,518 37,875 27,643 
Total $455,112 $301,509 $153,603 $451,635 $293,643 $157,992 
Depreciation expense related to property and equipment totaled approximately $21.5 million and $20.0 million for the three months ended March 31, 2025 and 2024, respectively.
During the first quarter of 2025, we determined that certain returned, end-of-life electronic gaming devices reflected in our Games segment were not likely to be re-deployed, primarily due to increased demand for our newer gaming devices, together with uncertainty in light of the Proposed Transaction discussed in “Note 5 — Business Combinations.” As a result, we shortened the remaining useful lives of these returned, end-of-life, electronic gaming devices and recorded additional depreciation expense of approximately $1.0 million, which was included within depreciation expense on our Statements of Operations.
v3.25.1
GOODWILL AND OTHER INTANGIBLE ASSETS
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL AND OTHER INTANGIBLE ASSETS
Goodwill
Goodwill represents the excess of the purchase price over the identifiable tangible and intangible assets acquired plus liabilities assumed arising from business combinations. The balance of goodwill was approximately $736.6 million and $736.5 million as of March 31, 2025 and December 31, 2024, respectively.
Other Intangible Assets
Other intangible assets consist of the following (in thousands):
  At March 31, 2025At December 31, 2024
Useful Life
(Years)		CostAccumulated
Amortization		Net Book
Value		CostAccumulated
Amortization		Net Book
Value
Other intangible assets       
Contract rights under placement fee agreements
2-7
$57,821 $33,266 $24,555 $57,821 $30,931 $26,890 
Customer relationships
3-14
337,290 281,232 56,058 337,236 276,218 61,018 
Developed technology and software
1-7
513,305 381,785 131,520 499,104 371,695 127,409 
Patents, trademarks, and other
2-18
24,731 23,395 1,336 24,726 23,128 1,598 
Total$933,147 $719,678 $213,469 $918,887 $701,972 $216,915 
Amortization expense related to other intangible assets was approximately $16.4 million and $15.5 million for the three months ended March 31, 2025 and 2024, respectively.
v3.25.1
LONG-TERM DEBT
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
LONG-TERM DEBT LONG-TERM DEBT
The following table summarizes our indebtedness (in thousands):
 MaturityInterestAt March 31,At December 31,
 DateRate20252024
Long-term debt  
$600 million term loan
2028
SOFR+CSA+2.50%
$560,500 $560,500 
$125 million revolver
2026
SOFR+CSA+2.50%
— — 
Senior secured credit facilities560,500 560,500 
$400 million unsecured notes
20295.00%400,000 400,000 
Total debt960,500 960,500 
Debt issuance costs and discount(8,948)(9,565)
Total debt after debt issuance costs and discount
951,552 950,935 
Current portion of long-term debt— — 
Total long-term debt, net of current portion$951,552 $950,935 
Credit Facilities
Our senior secured credit facilities consist of: (i) a seven-year $600 million senior secured term loan due 2028 issued at 99.75% of par (the “Term Loan”); and (ii) a $125 million senior secured revolving credit facility due 2026, which was undrawn at closing (the “Revolver” and together with the Term Loan, the “Credit Facilities”). The Company, as borrower, entered into the credit agreement dated as of August 3, 2021, among the Company, the lenders party thereto and Jefferies Finance LLC, as administrative agent, collateral agent, swing line lender and a letter of credit issuer (the “Original Credit Agreement”).
On June 23, 2023, the Company entered into the first amendment (the “Amendment”) to the Original Credit Agreement (as amended, the “Amended Credit Agreement”), among Everi, as borrower, the lenders party thereto and Jefferies Finance LLC, as administrative agent, collateral agent, swing line lender and letter of credit issuer. Under the Amended Credit Agreement, the Secured Overnight Financing Rate (“SOFR”) replaced the Eurodollar Rate for all purposes under the Original Credit Agreement and under any other Loan Document (as defined therein) on July 1, 2023, when the ICE Benchmark Administration ceased to provide all available tenors of the Eurodollar Rate. In connection with such implementation of SOFR, the Company and Jefferies Finance LLC agreed to make conforming changes to the relevant provisions of the Original Credit Agreement, as reflected in the Amended Credit Agreement.
On November 2, 2023, the Company entered into the second amendment (the “Second Amendment”), effective November 9, 2023, to the Original Credit Agreement and the Amended Credit Agreement (as amended, the “Credit Agreement”), among Everi, as borrower, the lenders party thereto and Jefferies Finance LLC, as administrative agent, collateral agent, swing line lender and letter of credit issuer. Under the Amended Credit Agreement, capitalized terms not otherwise defined in this Second Amendment have the same meanings as specified in the Original Credit Agreement or the Amended Credit Agreement, as the context may require; and pursuant to the Amended Credit Agreement, the borrower and the administrative agent jointly identified certain obvious errors of a technical nature in the Amended Credit Agreement and have agreed to amend the Amended Credit Agreement to correct such errors.
The interest rate per annum applicable to the Credit Facilities will be, at the Company’s option, either the SOFR, inclusive of the credit spread adjustment (“CSA”) with a 0.50% floor plus a margin of 2.50%, or the base rate plus a margin of 1.50%. In addition, the CSA is recorded as interest expense that varies for the applicable interest period, with an adjustment of 0.1% for interest periods of one month, an adjustment of 0.3% for interest periods of two months and an adjustment of 0.4% for interest periods of three months. Our Revolver remained fully undrawn as of March 31, 2025.
The weighted average interest rate on the Term Loan was 6.95% for the three months ended March 31, 2025.
Senior Unsecured Notes
Our senior unsecured notes issued in 2021 (the “2021 Unsecured Notes”) due in 2029, have an outstanding balance of $400.0 million as of March 31, 2025, 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.
Compliance with Debt Covenants
We were in compliance with the covenants and terms of the Credit Facilities and the 2021 Unsecured Notes as of March 31, 2025.
v3.25.1
COMMITMENTS AND CONTINGENCIES
 3 Months Ended
Mar. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
We are involved in various legal proceedings in the ordinary course of our business. In addition, following the announcement of the Proposed Transaction, three purported stockholders of Everi filed complaints alleging that the definitive proxy statement for the Special Meeting of Everi stockholders omitted or misstated material information with respect to the Proposed Transaction and seeking supplemental disclosures and other equitable and legal relief. The complaints are entitled Clancy v. Everi Holdings Inc., et al., No. 1:24-cv-07255-AS (S.D.N.Y. filed Sept. 25, 2024), Marino v. Everi Holdings Inc., et al., No. 655650/2024 (N.Y. S. Ct. filed Oct. 24, 2024) and Miller v. Everi Holdings Inc., et al., No. 655654/2024 (N.Y. S. Ct. filed Oct. 25, 2024) (the “Complaints”). Thirteen other purported stockholders of Everi have sent demand letters to the Company making allegations and demands similar to those in the Complaints. On November 26, 2024, the Clancy case was voluntarily dismissed. The remaining matters, Marion and Miller, were never served upon Everi. Counsel for Clancy and counsel for two of the purported stockholders who sent demand letters have requested mootness fees; to date, no negotiations over mootness fees have taken place. 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.
Legal Contingencies
We evaluate matters and record an accrual for legal contingencies when it is both probable that a liability has been incurred and the amount or range of the loss may be reasonably estimated. We evaluate legal contingencies at least quarterly and, as appropriate, establish new accruals or adjust existing accruals to reflect: (i) the facts and circumstances known to us at the time, including information regarding negotiations, settlements, rulings, and other relevant events and developments; (ii) the advice and analyses of counsel; and (iii) the assumptions and judgment of management. Legal costs associated with such proceedings are expensed as incurred. Due to the inherent uncertainty of legal proceedings as a result of the procedural, factual, and legal issues involved, the outcomes of our legal contingencies could result in losses in excess of amounts we have accrued.
NRT matter:
NRT Technology Corp., et al. v. Everi Holdings Inc., et al. is a civil action filed on April 30, 2019 against Everi Holdings and Everi FinTech in the United States District Court for the District of Delaware by NRT Technology Corp. and NRT Technology, Inc., alleging monopolization of the market for unmanned, integrated kiosks in violation of federal antitrust laws, fraudulent procurement of patents on functionality related to such unmanned, integrated kiosks and sham litigation related to prior litigation brought by Everi FinTech (operating as Global Cash Access Inc.) against the plaintiff entities. The plaintiffs are seeking compensatory damages, treble damages, and injunctive and declaratory relief. Discovery is closed. This case is currently on the court’s October 6, 2025, trial calendar. Due to the current stage of the litigation, we are unable to estimate the probability of the outcome of this matter or reasonably estimate the range of possible damages, if any.
Zenergy Systems, LLC matter:
Zenergy Systems, LLC v. Everi Payments Inc. is a civil action filed on May 29, 2020, against Everi FinTech in the United States District Court for the District of Nevada, Clark County by Zenergy Systems, LLC (“Zenergy”), alleging breach of contract, breach of a non-disclosure agreement, conversion, breach of the covenant of good faith and fair dealing, and breach of a confidential relationship related to a contract with Everi FinTech that expired in November 2019. The plaintiff is seeking compensatory and punitive damages. Everi FinTech has counterclaimed against Zenergy alleging breach of contract, breach of implied covenant of good faith and fair dealing, and for declaratory relief. The court has set this matter for trial beginning June 18, 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.
In addition, we have commitments with respect to certain lease obligations discussed in “Note 4 — Leases,” installment payments under our purchase agreements discussed in “Note 5 — Business Combinations,” and debt obligations discussed in “Note 11 — Long-Term Debt.”
v3.25.1
STOCKHOLDERS' EQUITY
 3 Months Ended
Mar. 31, 2025
Stockholders' Equity Note [Abstract]  
STOCKHOLDERS' EQUITY STOCKHOLDERS’ EQUITY
We currently have no active share repurchase programs that have been authorized and approved by our Board of Directors.
No shares were repurchased during the three months ended March 31, 2025 and 2024, respectively.
v3.25.1
WEIGHTED AVERAGE SHARES OF COMMON STOCK
 3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
WEIGHTED AVERAGE SHARES OF COMMON STOCK WEIGHTED AVERAGE SHARES OF COMMON STOCK
The weighted average number of common stock outstanding used in the computation of basic and diluted earnings per share is as follows (in thousands):
 Three Months Ended March 31,
 20252024
Weighted average shares  
Weighted average number of common shares outstanding - basic86,433 83,777 
Potential dilution from equity awards(1)
3,354 3,510 
Weighted average number of common shares outstanding - diluted(1)
89,787 87,287 
1.There were 0.2 million and 1.7 million shares that were anti-dilutive under the treasury stock method for the three months ended March 31, 2025 and 2024, respectively.
v3.25.1
SHARE-BASED COMPENSATION
 3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
SHARE-BASED COMPENSATION SHARE-BASED COMPENSATION
Equity Incentive Awards
Generally, we grant the following types of awards: (i) restricted stock units with either time- or performance-based criteria; and (ii) time-based options. We estimate forfeiture amounts based on historical patterns.
A summary of award activity is as follows (in thousands):
Stock Options Restricted Stock Units
Outstanding, December 31, 20242,972 2,802 
Granted— — 
Exercised options or vested shares(81)(32)
Canceled or forfeited(6)(180)
Outstanding, March 31, 20252,885 2,590 
There were approximately 4.7 million awards of our common stock available for future equity grants under our existing equity incentive plan as of March 31, 2025.
v3.25.1
INCOME TAXES
 3 Months Ended
Mar. 31, 2025
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The income tax provision for the three months ended March 31, 2025 reflected an effective income tax rate of 10.0%, which was less than the statutory federal rate of 21.0%, primarily due to a research credit, partially offset by the impact of lower book income, state taxes, compensation deduction limitations and a valuation allowance on certain deferred tax assets. The income tax provision for the three months ended March 31, 2024 reflected an effective income tax rate of 23.5%, which was greater than the statutory federal rate of 21.0%, primarily due to state taxes and a valuation allowance on certain deferred tax assets, partially offset by a research credit.
We have analyzed our positions in the federal, state and foreign jurisdictions where we are required to file income tax returns, as well as the open tax years in these jurisdictions. As of March 31, 2025, we recorded approximately
$5.9 million of unrecognized tax benefits, all of which would impact our effective tax rate, if recognized. We do not anticipate that our unrecognized tax benefits will materially change within the next 12 months.
v3.25.1
SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
Operating segments are components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision-making group (the “CODM”). Our CODM consists of the Chief Executive Officer and the Chief Financial Officer. Our CODM determined that our operating segments for conducting business are: (i) Games and (ii) FinTech. Our CODM allocates resources and measures profitability based on our operating segments, which are managed and reviewed separately, as each represents products and services that can be sold separately to our customers. Our segments are monitored by management for performance against our internal forecasts. We have reported our financial performance based on our segments in both the current and prior periods. Refer to “Note 1 — Business” for additional information regarding our operating segments.
Corporate overhead expenses have been allocated to the segments either through specific identification or based on a reasonable methodology. In addition, we record depreciation and amortization expenses to the business segments.
Our business is predominantly domestic with no specific regional concentrations that were material to our results of operations or financial condition, and no significant assets in foreign locations.
The following tables present segment information (in thousands)*:
 Three Months Ended March 31,
 20252024
Games  
Revenues  
Gaming operations(1)
$63,492 $72,622 
Gaming equipment and systems22,234 24,500 
Total revenues85,726 97,122 
Costs and expenses  
Cost of revenues(2)
  
Gaming operations10,652 9,515 
Gaming equipment and systems12,909 14,060 
Total cost of revenues23,561 23,575 
Operating expenses(3) (4) (5) (6) (7) (8)
25,997 33,352 
Research and development11,518 11,791 
Depreciation(9)
18,800 17,299 
Amortization12,625 11,412 
Total costs and expenses92,501 97,429 
Operating loss$(6,775)$(307)
1.Includes the accretion of contract rights of approximately $2.3 million for the three months ended March 31, 2025 and 2024, respectively.
2.Excludes depreciation and amortization.
3.Includes approximately $0.1 million of transaction costs related to the Proposed Transaction for the three months ended March 31, 2025.
4.Includes approximately $14.1 million of transaction costs related to the Original Proposed Transaction for the three months ended March 31, 2024.
5.Includes approximately $2.7 million of employee retention costs for the Proposed Transaction for the three months ended March 31, 2025.
6.Includes approximately $0.7 million of employee retention costs for the Original Proposed Transaction for the three months ended March 31, 2024.
7.Includes approximately $0.1 million of severance costs related to the realignment of certain employee functions within the Games business for the three months ended March 31, 2025.
8.Includes approximately $0.1 million in other professional fees and expenses primarily associated with litigation and other non-recurring charges for the three months ended March 31, 2025 and 2024, respectively.
9.Includes approximately $1.0 million of additional depreciation expense for certain end-of-life electronic gaming devices returned from our install base for the three months ended March 31, 2025.
* Rounding may cause variances.
 Three Months Ended March 31,
 20252024
FinTech  
Revenues  
Financial access services$55,455 $57,419 
Software and other27,287 25,776 
Hardware12,828 9,029 
Total revenues95,570 92,224 
Costs and expenses  
Cost of revenues(1)
  
Financial access services2,849 2,697 
Software and other2,985 3,132 
Hardware8,430 6,806 
Total cost of revenues14,264 12,635 
Operating expenses(2) (3) (4) (5) (6) (7)
40,527 40,262 
Research and development7,518 7,519 
Depreciation2,691 2,652 
Amortization3,805 4,097 
Total costs and expenses68,805 67,165 
Operating income$26,765 $25,059 
1.Excludes depreciation and amortization.
2.Includes approximately $0.3 million of transaction costs related to the Proposed Transaction for the three months ended March 31, 2025.
3.Includes approximately $0.3 million of transaction costs related to the Original Proposed Transaction for the three months ended March 31, 2024.
4.Includes approximately $2.0 million of employee retention costs for the Proposed Transaction for the three months ended March 31, 2025.
5.Includes approximately $0.6 million of employee retention costs for the Original Proposed Transaction for the three months ended March 31, 2024.
6.Includes approximately $0.1 million of severance costs related to the realignment of certain employee functions within the FinTech business for the three months ended March 31, 2025.
7.Includes approximately $0.2 million and $0.1 million in other professional fees and expenses primarily associated with litigation and other non-recurring professional fees for the three months ended March 31, 2025 and 2024, respectively.
* Rounding may cause variances.
The following tables present revenues, significant expense and measure of profit or loss segment information (in thousands):
For the Three Months Ended March 31, 2025
Games
FinTech
Total
Revenues$85,726 $95,570 $181,296 
Less:(1)
Cost of revenues(2)
23,561 14,264 37,825 
Payroll and related expense(3)
22,238 31,683 53,921 
Software license expense4,392 4,059 8,451 
Occupancy and related expense3,564 2,655 6,219 
Inventory and related expense2,082 3,003 5,085 
Accounting, taxes and consulting expense1,576 1,756 3,332 
Stock-based compensation expense1,501 1,724 3,225 
Travel expense548 1,340 1,888 
Legal and related expense549 1,251 1,800 
Marketing expense254 247 501 
Depreciation18,800 2,691 21,491 
Amortization12,625 3,805 16,430 
Other segment items(4)
811 327 1,138 
Segment operating (loss) income
$(6,775)$26,765 $19,990 
Interest expense, net of interest income15,633 
Income before income tax
$4,357 
1.The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
2.Cost of revenues excludes depreciation and amortization.
3.Payroll and related expense does not include amounts capitalized on our Balance Sheets or included within cost of revenues on our Statements of Operations.
4.Other segment items for each segment includes:
i.Games - Other miscellaneous expenses.
ii.FinTech - Other miscellaneous expenses.
For the Three Months Ended March 31, 2024
Games
FinTech
Total
Revenues$97,122 $92,224 $189,346 
Less:(1)
Cost of revenues(2)
23,575 12,635 36,210 
Payroll and related expense(3)
19,189 32,038 51,227 
Legal and related expense9,922 850 10,772 
Software license expense4,009 4,020 8,029 
Accounting, taxes and consulting expense5,543 1,883 7,426 
Occupancy and related expense3,342 2,651 5,993 
Inventory and related expense1,021 3,630 4,651 
Travel expense673 1,430 2,103 
Stock-based compensation expense1,131 811 1,942 
Marketing expense125 185 310 
Depreciation17,299 2,652 19,951 
Amortization11,412 4,097 15,509 
Other segment items(4)
188 283 471 
Segment operating (loss) income
$(307)$25,059 $24,752 
Interest expense, net of interest income18,800 
Income before income tax
$5,952 
1.The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
2.Cost of revenues excludes depreciation and amortization.
3.Payroll and related expense does not include amounts capitalized on our Balance Sheets or included within cost of revenues on our Statements of Operations.
4.Other segment items for each segment includes:
i.Games - Other miscellaneous expenses.
ii.FinTech - Other miscellaneous expenses.
Measurement and Uses of Reported Segment Profit or Loss
The accounting policies of our segments are the same as those described in the summary of significant accounting policies. The CODM evaluates the performance of our operating segments based on segment operating income or loss.
The CODM makes use of segment operating income or loss predominantly in the annual budget and forecasting process when making decisions about allocating capital and personnel to our segments.
The following table presents segment information (in thousands):
 At March 31,At December 31,
 20252024
Total assets  
Games$900,073 $925,861 
FinTech1,303,987 996,048 
Total assets$2,204,060 $1,921,909 
Major Customers. No single customer accounted for more than 10% of our revenues for the three months ended March 31, 2025 and 2024, respectively. Our five largest customers accounted for approximately 13.2% and 13.0% of our revenues for the three months ended March 31, 2025 and 2024, respectively.
v3.25.1
SUBSEQUENT EVENTS
 3 Months Ended
Mar. 31, 2025
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
As of the filing date, we had not identified, and were not aware of, any subsequent events for the period.
v3.25.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Pay vs Performance Disclosure    
Net income (loss) $ 3,923 $ 4,554
v3.25.1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.1
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 3 Months Ended
Mar. 31, 2025
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation
Our Financial Statements included herein have been prepared by us pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Some of the information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) have been condensed or omitted pursuant to such rules and regulations, although we believe the disclosures are adequate to make the information presented not misleading. In the opinion of management, all adjustments (which include normal recurring adjustments) necessary for a fair statement of results for the interim periods have been made. The results for the three months ended March 31, 2025 are not necessarily indicative of results to be expected for the full fiscal year. The Financial Statements should be read in conjunction with the consolidated financial statements and notes thereto included in the most recently filed Annual Report on Form 10-K for the year ended December 31, 2024 (the “Annual Report”).
Restricted Cash
Restricted Cash
Our restricted cash primarily consists of: (i) funds held in connection with certain customer and vendor agreements; (ii) funds held in connection with a sponsorship agreement; (iii) wide-area progressive (“WAP”) related restricted funds; and (iv) financial access activities related to cash held on behalf of patrons and funds required to be held to cover underlying financial access service transactions.
Fair Values of Financial Instruments
Fair Values of Financial Instruments
The fair value of a financial instrument represents the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. Fair value estimates are made at a specific point in time, based upon relevant market information about the financial instrument.
The carrying amount of cash and cash equivalents, short-term restricted cash, settlement receivables, short-term trade and other receivables, settlement liabilities, and accounts payable and accrued expenses approximate fair value due to the short-term maturities of these instruments. The fair value of long-term trade and loans receivable is estimated by discounting expected future cash flows using current interest rates at which similar loans would be made to borrowers with similar credit ratings and remaining maturities, which represent Level 2 inputs. The fair value of long-term accounts payable is estimated by discounting the total obligation.
Reclassification of Balances
Reclassification of Balances
Certain amounts in the accompanying Financial Statements have been reclassified to be consistent with the current year presentation. These reclassifications had no effect on net income or financial condition for any period presented.
Recent Accounting Guidance
Recent Accounting Guidance
Recently Adopted Accounting Guidance
None.
Recent Accounting Guidance Not Yet Adopted
StandardDescription
Date of Planned Adoption
Effect on Financial Statements
ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosure
The amendments in this update require enhanced income tax disclosures, primarily concerning the rate reconciliation and income taxes paid information.
December 31, 2025We are currently evaluating the effect of adopting this ASU on our Financial Statements.
ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses
The amendments in this update require disclosure, in the notes to financial statements, of specified information about certain costs and expenses.December 31, 2027We are currently evaluating the effect of adopting this ASU on our Financial Statements.
As of March 31, 2025, other than what has been described above, we do not anticipate recently issued accounting guidance to have a significant impact on our Financial Statements.
Revenue
Overview
We evaluate the recognition of revenue based on the criteria set forth in Accounting Standards Codification (“ASC”) 606 — Revenue from Contracts with Customers and ASC 842 — Leases, as appropriate. We recognize revenue upon transferring control of goods or services to our customers in an amount that reflects the consideration we expect to receive in exchange for those goods or services. We enter into contracts with customers that include various performance obligations consisting of goods, services, or combinations of goods and services. Timing of the transfer of control varies based on the nature of the contract. We recognize revenue net of any sales and other taxes collected from customers, which are subsequently remitted to governmental authorities and are not included in revenues or operating expenses. We measure revenue based on the consideration specified in a contract with a customer and adjusted, as necessary.
Disaggregation of Revenues
We disaggregate revenues based on the nature and timing of the cash flows generated by such revenues as presented in “Note 17 — Segment Information.”
Contract Balances
Since our contracts may include multiple performance obligations, there is often a timing difference between cash collections and the satisfaction of such performance obligations and revenue recognition. Such arrangements are evaluated to determine whether contract assets and liabilities exist. We generally record contract assets when the timing of billing differs from when revenue is recognized due to contracts containing specific performance obligations that are required to be met prior to a customer being invoiced. We generally record contract liabilities when cash is collected in advance of us satisfying performance obligations, including those that are satisfied over a period of time. Balances of our contract assets and contract liabilities may fluctuate due to timing of cash collections.
v3.25.1
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 3 Months Ended
Mar. 31, 2025
Accounting Policies [Abstract]  
Reconciliation of Cash, Cash Equivalents, and Restricted Cash The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported on our Balance Sheets that sum to the total of the same such amounts shown on the Statements of Cash Flows for the three months ended March 31, 2025 (in thousands).
Classification on our Balance Sheets
At March 31, 2025
At December 31, 2024
Cash and cash equivalentsCash and cash equivalents$712,525 $400,677 
Restricted cash - currentPrepaid expenses and other current assets7,580 7,803 
Restricted cash - non-currentOther assets1,101 101 
Total$721,206 $408,581 
Reconciliation of Cash, Cash Equivalents, and Restricted Cash The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported on our Balance Sheets that sum to the total of the same such amounts shown on the Statements of Cash Flows for the three months ended March 31, 2025 (in thousands).
Classification on our Balance Sheets
At March 31, 2025
At December 31, 2024
Cash and cash equivalentsCash and cash equivalents$712,525 $400,677 
Restricted cash - currentPrepaid expenses and other current assets7,580 7,803 
Restricted cash - non-currentOther assets1,101 101 
Total$721,206 $408,581 
Estimated Fair Value and Outstanding Balances of Borrowings
The estimated fair value and outstanding balances of our borrowings are as follows (amounts in thousands):
 Level of HierarchyFair ValueOutstanding Balance
March 31, 2025   
$600 million term loan
2$561,551 $560,500 
$400 million unsecured notes
2$402,000 $400,000 
December 31, 2024   
$600 million term loan
2$561,201 $560,500 
$400 million unsecured notes
2$400,000 $400,000 
Summary of Recent Accounting Guidance
Recent Accounting Guidance Not Yet Adopted
StandardDescription
Date of Planned Adoption
Effect on Financial Statements
ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosure
The amendments in this update require enhanced income tax disclosures, primarily concerning the rate reconciliation and income taxes paid information.
December 31, 2025We are currently evaluating the effect of adopting this ASU on our Financial Statements.
ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses
The amendments in this update require disclosure, in the notes to financial statements, of specified information about certain costs and expenses.December 31, 2027We are currently evaluating the effect of adopting this ASU on our Financial Statements.
v3.25.1
REVENUES (Tables)
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Contract Asset and Liability
The following table summarizes our contract assets and contract liabilities arising from contracts with customers (in thousands):
20252024
Contract assets(1)
Balance, January 1
$35,564 $26,635 
Balance, March 3135,045 31,298 
        (Decrease) increase
$(519)$4,663 
Contract liabilities(2)
Balance, January 1
$63,563 $51,799 
Balance, March 3159,959 56,241 
        (Decrease) increase
$(3,604)$4,442 
1.Contract assets are included within prepaid expenses and other current assets and other assets on our Balance Sheets.
2.Contract liabilities are included within accounts payable and accrued expenses and other accrued expenses and liabilities on our Balance Sheets.
v3.25.1
LEASES (Tables)
 3 Months Ended
Mar. 31, 2025
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 March 31, 2025
At December 31, 2024
Assets
Operating lease right-of-use assets
Other assets, non-current$23,087 $24,299 
Liabilities
Current operating lease liabilitiesAccounts payable and accrued expenses$7,158 $7,579 
Non-current operating lease liabilitiesOther accrued expenses and liabilities$20,928 $22,472 
Cash Flow Information
Supplemental cash flows information related to leases is as follows (in thousands):
Three Months Ended March 31,
20252024
Cash paid for:
Long-term operating leases$2,360 $1,839 
Short-term operating leases$564 $554 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases
$— $671 
Lease Costs
Other information related to lease terms and discount rates is as follows:
At March 31, 2025At December 31, 2024
Weighted average remaining lease term (in years):
Operating leases6.446.41
Weighted average discount rate:
Operating leases6.39 %6.32 %
Components of lease expense are as follows (in thousands):
Three Months Ended March 31,
20252024
Operating lease cost:
Operating lease cost
$1,979 $1,952 
Variable lease cost $399 $340 
Payments Due
Maturities of lease liabilities are summarized as follows as of March 31, 2025 (in thousands):

Year Ending December 31, Amount
2025 (excluding the three months ended March 31, 2025)
$6,473 
2026
6,364 
2027
4,000 
2028
3,430 
2029
2,580 
Thereafter12,186 
Total future minimum lease payments 35,033 
Less: Amount representing interest 6,947 
Present value of future minimum lease payments28,086 
Less: Current operating lease obligations7,158 
Long-term lease obligations$20,928 
Sales-type lease
Supplemental balance sheet information related to our sales-type leases is as follows (in thousands):
Classification on our Balance Sheets
At March 31, 2025
At December 31, 2024
Assets
Net investment in sales-type leases — currentTrade and other receivables, net$1,944 $1,902 
v3.25.1
TRADE AND OTHER RECEIVABLES (Tables)
 3 Months Ended
Mar. 31, 2025
Receivables [Abstract]  
Schedule of Components of Trade and Other Receivables
The balance of trade and other receivables consisted of the following (in thousands):
 At March 31,At December 31,
20252024
Trade and other receivables, net  
Games trade and loans receivable$56,285 $61,298 
FinTech trade and loans receivable
27,272 27,288 
Other receivables6,407 5,598 
Total trade and other receivables, net89,964 94,184 
Non-current portion of receivables  
Games trade and loans receivable1,800 2,461 
FinTech trade and loans receivable
3,566 3,868 
Total non-current portion of receivables5,366 6,329 
Total trade and other receivables, current portion$84,598 $87,855 
Activity in Allowance for Credit Losses
The activity in our allowance for credit losses for the three months ended March 31, 2025 and 2024 is as follows (in thousands):
Three Months Ended March 31,
20252024
Beginning allowance for credit losses$(5,656)$(5,210)
Provision(3,471)(2,946)
Charge-offs, net of recoveries3,287 2,923 
Ending allowance for credit losses$(5,840)$(5,233)
v3.25.1
INVENTORY (Tables)
 3 Months Ended
Mar. 31, 2025
Inventory Disclosure [Abstract]  
Schedule of Components of Inventory
Inventory consisted of the following (in thousands):
 At March 31,At December 31,
 20252024
Inventory  
Component parts$55,886 $54,324 
Work-in-progress2,144 918 
Finished goods11,629 12,579 
Total inventory$69,659 $67,821 
v3.25.1
PROPERTY AND EQUIPMENT (Tables)
 3 Months Ended
Mar. 31, 2025
Property, Plant and Equipment [Abstract]  
Schedule of Components of Property, Equipment and Leased Assets
Property and equipment consist of the following (in thousands):
  At March 31, 2025At December 31, 2024
Useful Life
(Years)		CostAccumulated
Depreciation		Net Book
Value		CostAccumulated
Depreciation		Net Book
Value
Property and equipment       
Rental pool - deployed
2-5
$293,694 $201,398 $92,296 $297,909 $201,141 $96,768 
Rental pool - undeployed
2-5
47,914 34,216 13,698 42,360 30,364 11,996 
FinTech equipment
1-5
29,163 21,258 7,905 29,218 20,666 8,552 
Leasehold and building improvementsLease Term16,660 4,108 12,552 16,630 3,597 13,033 
Machinery, office, and other equipment
1-5
67,681 40,529 27,152 65,518 37,875 27,643 
Total $455,112 $301,509 $153,603 $451,635 $293,643 $157,992 
v3.25.1
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Other Intangible Assets
Other intangible assets consist of the following (in thousands):
  At March 31, 2025At December 31, 2024
Useful Life
(Years)		CostAccumulated
Amortization		Net Book
Value		CostAccumulated
Amortization		Net Book
Value
Other intangible assets       
Contract rights under placement fee agreements
2-7
$57,821 $33,266 $24,555 $57,821 $30,931 $26,890 
Customer relationships
3-14
337,290 281,232 56,058 337,236 276,218 61,018 
Developed technology and software
1-7
513,305 381,785 131,520 499,104 371,695 127,409 
Patents, trademarks, and other
2-18
24,731 23,395 1,336 24,726 23,128 1,598 
Total$933,147 $719,678 $213,469 $918,887 $701,972 $216,915 
v3.25.1
LONG-TERM DEBT (Tables)
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Outstanding Indebtedness
The following table summarizes our indebtedness (in thousands):
 MaturityInterestAt March 31,At December 31,
 DateRate20252024
Long-term debt  
$600 million term loan
2028
SOFR+CSA+2.50%
$560,500 $560,500 
$125 million revolver
2026
SOFR+CSA+2.50%
— — 
Senior secured credit facilities560,500 560,500 
$400 million unsecured notes
20295.00%400,000 400,000 
Total debt960,500 960,500 
Debt issuance costs and discount(8,948)(9,565)
Total debt after debt issuance costs and discount
951,552 950,935 
Current portion of long-term debt— — 
Total long-term debt, net of current portion$951,552 $950,935 
v3.25.1
WEIGHTED AVERAGE SHARES OF COMMON STOCK (Tables)
 3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Weighted Average Number of Shares
The weighted average number of common stock outstanding used in the computation of basic and diluted earnings per share is as follows (in thousands):
 Three Months Ended March 31,
 20252024
Weighted average shares  
Weighted average number of common shares outstanding - basic86,433 83,777 
Potential dilution from equity awards(1)
3,354 3,510 
Weighted average number of common shares outstanding - diluted(1)
89,787 87,287 
1.There were 0.2 million and 1.7 million shares that were anti-dilutive under the treasury stock method for the three months ended March 31, 2025 and 2024, respectively.
v3.25.1
SHARE-BASED COMPENSATION (Tables)
 3 Months Ended
Mar. 31, 2025
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, 20242,972 2,802 
Granted— — 
Exercised options or vested shares(81)(32)
Canceled or forfeited(6)(180)
Outstanding, March 31, 20252,885 2,590 
v3.25.1
SEGMENT INFORMATION (Tables)
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Schedule of Segment Information
The following tables present segment information (in thousands)*:
 Three Months Ended March 31,
 20252024
Games  
Revenues  
Gaming operations(1)
$63,492 $72,622 
Gaming equipment and systems22,234 24,500 
Total revenues85,726 97,122 
Costs and expenses  
Cost of revenues(2)
  
Gaming operations10,652 9,515 
Gaming equipment and systems12,909 14,060 
Total cost of revenues23,561 23,575 
Operating expenses(3) (4) (5) (6) (7) (8)
25,997 33,352 
Research and development11,518 11,791 
Depreciation(9)
18,800 17,299 
Amortization12,625 11,412 
Total costs and expenses92,501 97,429 
Operating loss$(6,775)$(307)
1.Includes the accretion of contract rights of approximately $2.3 million for the three months ended March 31, 2025 and 2024, respectively.
2.Excludes depreciation and amortization.
3.Includes approximately $0.1 million of transaction costs related to the Proposed Transaction for the three months ended March 31, 2025.
4.Includes approximately $14.1 million of transaction costs related to the Original Proposed Transaction for the three months ended March 31, 2024.
5.Includes approximately $2.7 million of employee retention costs for the Proposed Transaction for the three months ended March 31, 2025.
6.Includes approximately $0.7 million of employee retention costs for the Original Proposed Transaction for the three months ended March 31, 2024.
7.Includes approximately $0.1 million of severance costs related to the realignment of certain employee functions within the Games business for the three months ended March 31, 2025.
8.Includes approximately $0.1 million in other professional fees and expenses primarily associated with litigation and other non-recurring charges for the three months ended March 31, 2025 and 2024, respectively.
9.Includes approximately $1.0 million of additional depreciation expense for certain end-of-life electronic gaming devices returned from our install base for the three months ended March 31, 2025.
* Rounding may cause variances.
 Three Months Ended March 31,
 20252024
FinTech  
Revenues  
Financial access services$55,455 $57,419 
Software and other27,287 25,776 
Hardware12,828 9,029 
Total revenues95,570 92,224 
Costs and expenses  
Cost of revenues(1)
  
Financial access services2,849 2,697 
Software and other2,985 3,132 
Hardware8,430 6,806 
Total cost of revenues14,264 12,635 
Operating expenses(2) (3) (4) (5) (6) (7)
40,527 40,262 
Research and development7,518 7,519 
Depreciation2,691 2,652 
Amortization3,805 4,097 
Total costs and expenses68,805 67,165 
Operating income$26,765 $25,059 
1.Excludes depreciation and amortization.
2.Includes approximately $0.3 million of transaction costs related to the Proposed Transaction for the three months ended March 31, 2025.
3.Includes approximately $0.3 million of transaction costs related to the Original Proposed Transaction for the three months ended March 31, 2024.
4.Includes approximately $2.0 million of employee retention costs for the Proposed Transaction for the three months ended March 31, 2025.
5.Includes approximately $0.6 million of employee retention costs for the Original Proposed Transaction for the three months ended March 31, 2024.
6.Includes approximately $0.1 million of severance costs related to the realignment of certain employee functions within the FinTech business for the three months ended March 31, 2025.
7.Includes approximately $0.2 million and $0.1 million in other professional fees and expenses primarily associated with litigation and other non-recurring professional fees for the three months ended March 31, 2025 and 2024, respectively.
* Rounding may cause variances.
The following tables present revenues, significant expense and measure of profit or loss segment information (in thousands):
For the Three Months Ended March 31, 2025
Games
FinTech
Total
Revenues$85,726 $95,570 $181,296 
Less:(1)
Cost of revenues(2)
23,561 14,264 37,825 
Payroll and related expense(3)
22,238 31,683 53,921 
Software license expense4,392 4,059 8,451 
Occupancy and related expense3,564 2,655 6,219 
Inventory and related expense2,082 3,003 5,085 
Accounting, taxes and consulting expense1,576 1,756 3,332 
Stock-based compensation expense1,501 1,724 3,225 
Travel expense548 1,340 1,888 
Legal and related expense549 1,251 1,800 
Marketing expense254 247 501 
Depreciation18,800 2,691 21,491 
Amortization12,625 3,805 16,430 
Other segment items(4)
811 327 1,138 
Segment operating (loss) income
$(6,775)$26,765 $19,990 
Interest expense, net of interest income15,633 
Income before income tax
$4,357 
1.The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
2.Cost of revenues excludes depreciation and amortization.
3.Payroll and related expense does not include amounts capitalized on our Balance Sheets or included within cost of revenues on our Statements of Operations.
4.Other segment items for each segment includes:
i.Games - Other miscellaneous expenses.
ii.FinTech - Other miscellaneous expenses.
For the Three Months Ended March 31, 2024
Games
FinTech
Total
Revenues$97,122 $92,224 $189,346 
Less:(1)
Cost of revenues(2)
23,575 12,635 36,210 
Payroll and related expense(3)
19,189 32,038 51,227 
Legal and related expense9,922 850 10,772 
Software license expense4,009 4,020 8,029 
Accounting, taxes and consulting expense5,543 1,883 7,426 
Occupancy and related expense3,342 2,651 5,993 
Inventory and related expense1,021 3,630 4,651 
Travel expense673 1,430 2,103 
Stock-based compensation expense1,131 811 1,942 
Marketing expense125 185 310 
Depreciation17,299 2,652 19,951 
Amortization11,412 4,097 15,509 
Other segment items(4)
188 283 471 
Segment operating (loss) income
$(307)$25,059 $24,752 
Interest expense, net of interest income18,800 
Income before income tax
$5,952 
1.The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
2.Cost of revenues excludes depreciation and amortization.
3.Payroll and related expense does not include amounts capitalized on our Balance Sheets or included within cost of revenues on our Statements of Operations.
4.Other segment items for each segment includes:
i.Games - Other miscellaneous expenses.
ii.FinTech - Other miscellaneous expenses.
The following table presents segment information (in thousands):
 At March 31,At December 31,
 20252024
Total assets  
Games$900,073 $925,861 
FinTech1,303,987 996,048 
Total assets$2,204,060 $1,921,909 
v3.25.1
BUSINESS (Details)
 3 Months Ended
Mar. 31, 2025
segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Number of operating segments 2
v3.25.1
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Cash (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Mar. 31, 2024
Dec. 31, 2023
Accounting Policies [Abstract]        
Cash and cash equivalents $ 712,525 $ 400,677    
Restricted Cash, Current, Statement of Financial Position [Extensible Enumeration] Prepaid expenses and other current assets Prepaid expenses and other current assets    
Restricted cash - current $ 7,580 $ 7,803    
Restricted Cash, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other assets Other assets    
Restricted cash - non-current $ 1,101 $ 101    
Total $ 721,206 $ 408,581 $ 274,045 $ 272,506
v3.25.1
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Accounting Policies [Abstract]    
Contractual terms of trade and loans receivable 12 months 12 months
v3.25.1
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Estimated Fair Value and Outstanding Balances of Borrowings (Details) - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Aug. 03, 2021
Senior secured notes | New Revolver      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Principal amount of debt $ 600,000,000 $ 600,000,000 $ 600,000,000
Senior unsecured notes | 2021 Unsecured Notes      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Principal amount of debt 400,000,000 400,000,000  
Fair Value | Level 2 | New Term Loan      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Long-term debt 561,551,000 561,201,000  
Fair Value | Level 2 | Incremental Term Loan      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Long-term debt 402,000,000 400,000,000  
Outstanding Balance | Level 2 | New Term Loan      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Long-term debt 560,500,000 560,500,000  
Outstanding Balance | Level 2 | Incremental Term Loan      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Long-term debt $ 400,000,000 $ 400,000,000  
v3.25.1
REVENUES - Contract Asset and Liability (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Contract assets    
Balance, January 1 $ 35,564 $ 26,635
Balance, March 31 35,045 31,298
(Decrease) increase (519) 4,663
Contract liabilities    
Balance, January 1 63,563 51,799
Balance, March 31 59,959 56,241
(Decrease) increase $ (3,604) $ 4,442
v3.25.1
REVENUES - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Disaggregation of Revenue [Line Items]    
Contract liability, revenue recognized $ 21,700 $ 15,900
Total revenues 181,296 189,346
Games    
Disaggregation of Revenue [Line Items]    
Total revenues 85,726 97,122
Gaming operations, leased equipment | Games    
Disaggregation of Revenue [Line Items]    
Total revenues $ 41,600 $ 46,400
v3.25.1
LEASES - Balance Sheet Information (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] Other assets Other assets
Operating lease right-of-use assets $ 23,087 $ 24,299
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] Accounts payable and accrued expenses Accounts payable and accrued expenses
Less: Current operating lease obligations $ 7,158 $ 7,579
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] Other accrued expenses and liabilities Other accrued expenses and liabilities
Non-current operating lease liabilities $ 20,928 $ 22,472
v3.25.1
LEASES - Cash Flow Information (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Leases [Abstract]    
Long-term operating leases $ 2,360 $ 1,839
Short-term operating leases 564 554
Right-of-use assets obtained in exchange for lease obligations:    
Operating leases $ 0 $ 671
v3.25.1
LEASES - Lease Costs (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Leases [Abstract]      
Weighted average remaining lease term, operating leases 6 years 5 months 8 days   6 years 4 months 28 days
Weighted average discount rate, operating leases 6.39%   6.32%
Operating lease cost $ 1,979 $ 1,952  
Variable lease cost $ 399 $ 340  
v3.25.1
LEASES - Payments Due (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Amount    
2025 (excluding the three months ended March 31, 2025) $ 6,473  
2026 6,364  
2027 4,000  
2028 3,430  
2029 2,580  
Thereafter 12,186  
Total future minimum lease payments 35,033  
Less: Amount representing interest 6,947  
Present value of future minimum lease payments 28,086  
Less: Current operating lease obligations 7,158 $ 7,579
Long-term lease obligations $ 20,928 $ 22,472
v3.25.1
LEASES - Sales-type Lease (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Net investment in sales-type leases — current $ 1,944 $ 1,902
v3.25.1
BUSINESS COMBINATIONS (Details)
$ / shares in Units, $ in Millions
 3 Months Ended
Jul. 26, 2024
USD ($)
$ / shares
Apr. 30, 2022
USD ($)
Mar. 31, 2025
USD ($)
Feb. 28, 2024
USD ($)
International Game Technology PLC        
Business Acquisition [Line Items]        
Principal amount of debt $ 4,300.0      
Share price (in dollars per share) | $ / shares $ 14.25      
Proceeds from fees received $ 4,100.0      
Buyer aggregate amount 2,300.0      
International Game Technology PLC | Revolving credit facility        
Business Acquisition [Line Items]        
Principal amount of debt $ 800.0      
Debt Commitment Letter        
Business Acquisition [Line Items]        
Principal amount of debt       $ 3,700.0
Debt Commitment Revolver        
Business Acquisition [Line Items]        
Principal amount of debt       $ 800.0
Global Gaming And Play Ditial Business        
Business Acquisition [Line Items]        
Transaction costs     $ 0.4  
Employee retention costs     $ 4.7  
Global Gaming And Play Ditial Business | IGT Shareholders        
Business Acquisition [Line Items]        
Ownership percentage       54.00%
Global Gaming And Play Ditial Business | Everi Exisitng Shareholders        
Business Acquisition [Line Items]        
Ownership percentage       46.00%
Intuicode | Measurement Input, Discount Rate        
Business Acquisition [Line Items]        
Acquired business discount rate     0.05  
Intuicode | Business Combination, Contingent Consideration, Period Two        
Business Acquisition [Line Items]        
Earn-out liability   $ 2.4    
Revenue target anniversary   2 years    
v3.25.1
FUNDING AGREEMENTS (Details) - Indemnification Guarantee - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Contract Cash Solutions Agreement      
Funding Agreements      
Cash usage fees incurred $ 3,600,000 $ 4,800,000  
Outstanding balance 258,400,000   $ 379,300,000
Contract Cash Solutions Agreement, as amended      
Funding Agreements      
Maximum amount $ 450,000,000    
Renewal period 1 year    
Non-renewal notice period 90 days    
v3.25.1
TRADE AND OTHER RECEIVABLES - Schedule of Components of Trade and Other Receivables (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Trade and other receivables, net    
Other receivables $ 6,407 $ 5,598
Total trade and other receivables, net 89,964 94,184
Non-current portion of receivables 5,366 6,329
Total trade and other receivables, current portion 84,598 87,855
Gaming operations    
Trade and other receivables, net    
Trade receivables, net 56,285 61,298
Non-current portion of receivables 1,800 2,461
FinTech    
Trade and other receivables, net    
Trade receivables, net 27,272 27,288
Non-current portion of receivables $ 3,566 $ 3,868
v3.25.1
TRADE AND OTHER RECEIVABLES - Activity in Allowance for Credit Losses (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning allowance for credit losses $ (5,656) $ (5,210)
Provision (3,471) (2,946)
Charge-offs, net of recoveries 3,287 2,923
Ending allowance for credit losses $ (5,840) $ (5,233)
v3.25.1
INVENTORY - Schedule of Inventory (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Inventory    
Component parts $ 55,886 $ 54,324
Work-in-progress 2,144 918
Finished goods 11,629 12,579
Total inventory $ 69,659 $ 67,821
v3.25.1
PROPERTY AND EQUIPMENT (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Property, Plant and Equipment [Line Items]      
Cost $ 455,112   $ 451,635
Accumulated Depreciation 301,509   293,643
Net Book Value 153,603   157,992
Depreciation 21,491 $ 19,951  
Rental pool - deployed      
Property, Plant and Equipment [Line Items]      
Cost 293,694   297,909
Accumulated Depreciation 201,398   201,141
Net Book Value $ 92,296   96,768
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 $ 47,914   42,360
Accumulated Depreciation 34,216   30,364
Net Book Value $ 13,698   11,996
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    
Machinery, office, and other equipment      
Property, Plant and Equipment [Line Items]      
Cost $ 67,681   65,518
Accumulated Depreciation 40,529   37,875
Net Book Value $ 27,152   27,643
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    
Leasehold and building improvements      
Property, Plant and Equipment [Line Items]      
Cost $ 16,660   16,630
Accumulated Depreciation 4,108   3,597
Net Book Value 12,552   13,033
FinTech | Machinery, office, and other equipment      
Property, Plant and Equipment [Line Items]      
Cost 29,163   29,218
Accumulated Depreciation 21,258   20,666
Net Book Value $ 7,905   $ 8,552
FinTech | Machinery, office, and other equipment | Minimum      
Property, Plant and Equipment [Line Items]      
Useful Life (Years) 1 year    
FinTech | Machinery, office, and other equipment | Maximum      
Property, Plant and Equipment [Line Items]      
Useful Life (Years) 5 years    
Games      
Property, Plant and Equipment [Line Items]      
Depreciation $ 18,800 $ 17,299  
Write down of property and equipment $ 1,000    
v3.25.1
GOODWILL AND OTHER INTANGIBLE ASSETS - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]      
Goodwill $ 736,583   $ 736,470
Amortization $ 16,430 $ 15,509  
v3.25.1
GOODWILL AND OTHER INTANGIBLE ASSETS - Other Intangible Assets (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]    
Cost $ 933,147 $ 918,887
Accumulated Amortization 719,678 701,972
Net Book Value 213,469 216,915
Contract rights under placement fee agreements    
Finite-Lived Intangible Assets [Line Items]    
Cost 57,821 57,821
Accumulated Amortization 33,266 30,931
Net Book Value $ 24,555 26,890
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 $ 337,290 337,236
Accumulated Amortization 281,232 276,218
Net Book Value $ 56,058 61,018
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 $ 513,305 499,104
Accumulated Amortization 381,785 371,695
Net Book Value $ 131,520 127,409
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 $ 24,731 24,726
Accumulated Amortization 23,395 23,128
Net Book Value $ 1,336 $ 1,598
Patents, trademarks, and other | Minimum    
Finite-Lived Intangible Assets [Line Items]    
Useful Life (Years) 2 years  
Patents, trademarks, and other | Maximum    
Finite-Lived Intangible Assets [Line Items]    
Useful Life (Years) 18 years  
v3.25.1
LONG-TERM DEBT - Schedule of Outstanding Indebtedness (Details) - USD ($)
 3 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Aug. 03, 2021
Debt Instrument [Line Items]      
Total debt $ 960,500,000 $ 960,500,000  
Debt issuance costs and discount (8,948,000) (9,565,000)  
Total debt after debt issuance costs and discount 951,552,000 950,935,000  
Current portion of long-term debt 0 0  
Total long-term debt, net of current portion 951,552,000 950,935,000  
Senior secured notes | New Revolver      
Debt Instrument [Line Items]      
Principal amount of debt $ 600,000,000 600,000,000 $ 600,000,000
Basis spread 2.50%    
Revolving credit facility | New Revolver      
Debt Instrument [Line Items]      
Total debt $ 0 0  
Principal amount of debt $ 125,000,000    
Basis spread 2.50%    
Senior secured notes      
Debt Instrument [Line Items]      
Total debt $ 560,500,000 560,500,000  
Senior secured notes | Senior secured notes | New Revolver      
Debt Instrument [Line Items]      
Total debt 560,500,000 560,500,000  
Senior unsecured notes | 2021 Unsecured Notes      
Debt Instrument [Line Items]      
Total debt 400,000,000 400,000,000  
Principal amount of debt $ 400,000,000 $ 400,000,000  
Interest rate 5.00%    
v3.25.1
LONG-TERM DEBT - Narrative (Details)
 3 Months Ended
Aug. 03, 2021
USD ($)
Mar. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Debt Instrument [Line Items]      
Total debt   $ 960,500,000 $ 960,500,000
New Credit Facilities      
Debt Instrument [Line Items]      
Basis spread, period one (as a percent) 0.10%    
Basis spread, period two (as a percent) 0.30%    
Basis spread, period three (as a percent) 0.40%    
New Credit Facilities | Secured Overnight Financing Rate (SOFR)      
Debt Instrument [Line Items]      
Floor interest rate 0.50%    
Basis spread 2.50%    
New Credit Facilities | Base Rate      
Debt Instrument [Line Items]      
Basis spread 1.50%    
Senior Unsecured Notes Due 2021 | Senior unsecured notes      
Debt Instrument [Line Items]      
Total debt   $ 400,000,000.0  
Interest rate   5.00%  
Senior secured notes | New Revolver      
Debt Instrument [Line Items]      
Debt term 7 years    
Principal amount of debt $ 600,000,000 $ 600,000,000 600,000,000
Percentage of par amount issued 0.9975    
Basis spread   2.50%  
Revolving credit facility | New Revolver      
Debt Instrument [Line Items]      
Principal amount of debt   $ 125,000,000  
Maximum borrowing capacity $ 125,000,000    
Basis spread   2.50%  
Total debt   $ 0 $ 0
Senior secured term loan facility | New Credit Agreement, dated May 9, 2017      
Debt Instrument [Line Items]      
Weighted average interest rate during period   6.95%  
v3.25.1
COMMITMENTS AND CONTINGENCIES (Details) - Derivative Complaints
 3 Months Ended
Mar. 31, 2025
case
Loss Contingencies [Line Items]  
Loss Contingency new claims filed 3
Loss contingency number of defendants 13
v3.25.1
STOCKHOLDERS' EQUITY (Details) - shares
shares in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Stockholders' Equity Note [Abstract]    
Treasury stock acquired (in shares) 0.0 0.0
v3.25.1
WEIGHTED AVERAGE SHARES OF COMMON STOCK (Details) - shares
shares in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Weighted average shares    
Weighted average number of common shares outstanding - basic (in shares) 86,433 83,777
Potential dilution from equity awards (in shares) 3,354 3,510
Weighted average number of common shares outstanding - diluted (in shares) 89,787 87,287
Anti-dilutive equity awards excluded from computation of earnings per share (in shares) 200 1,700
v3.25.1
SHARE-BASED COMPENSATION (Details)
shares in Thousands
 3 Months Ended
Mar. 31, 2025
shares
Stock Options  
Stock Options  
Outstanding (in shares) 2,972
Granted (in shares) 0
Exercised options (in shares) (81)
Canceled or forfeited (in shares) (6)
Outstanding (in shares) 2,885
Restricted Stock Units  
Restricted Stock Units  
Outstanding (in shares) 2,802
Granted (in shares) 0
Vested (in shares) (32)
Canceled or forfeited (in shares) (180)
Outstanding (in shares) 2,590
Common Stock  
Restricted Stock Units  
Number of shares available for grant (in shares) 4,700
v3.25.1
INCOME TAXES (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Income Tax Disclosure [Abstract]    
Effective income tax rate 10.00% 23.50%
Statutory federal rate 21.00% 21.00%
Unrecognized tax benefits $ 5.9  
v3.25.1
SEGMENT INFORMATION - Revenues, Operating Income, and Assets (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Revenues      
Total revenues $ 181,296 $ 189,346  
Costs and expenses      
Operating expenses 66,524 73,614  
Research and development 19,036 19,310  
Depreciation 21,491 19,951  
Amortization 16,430 15,509  
Total costs and expenses 161,306 164,594  
Operating loss 19,990 24,752  
Total assets      
Total assets 2,204,060   $ 1,921,909
Global Gaming And Play Ditial Business      
Costs and expenses      
Transaction costs 400    
Employee retention costs 4,700    
Games      
Revenues      
Total revenues 85,726 97,122  
Costs and expenses      
Total cost of revenues 23,561 23,575  
Operating expenses 25,997 33,352  
Research and development 11,518 11,791  
Depreciation 18,800 17,299  
Amortization 12,625 11,412  
Total costs and expenses 92,501 97,429  
Operating loss (6,775) (307)  
Accretion of contract rights 2,300 2,300  
Severance costs 100    
Write down of property and equipment 1,000    
Other legal fees and expenses 100 100  
Total assets      
Total assets 900,073   925,861
Games | Global Gaming And Play Ditial Business      
Costs and expenses      
Transaction costs 100 14,100  
Games | Global Gaming And Play Ditial Business, Original Proposed Transaction      
Costs and expenses      
Employee retention costs 2,700 700  
Games | Gaming operations      
Revenues      
Total revenues 63,492 72,622  
Costs and expenses      
Total cost of revenues 10,652 9,515  
Games | Gaming equipment and systems      
Revenues      
Total revenues 22,234 24,500  
Costs and expenses      
Total cost of revenues 12,909 14,060  
FinTech      
Revenues      
Total revenues 95,570 92,224  
Costs and expenses      
Total cost of revenues 14,264 12,635  
Operating expenses 40,527 40,262  
Research and development 7,518 7,519  
Depreciation 2,691 2,652  
Amortization 3,805 4,097  
Total costs and expenses 68,805 67,165  
Operating loss 26,765 25,059  
Severance costs 100    
Other legal fees and expenses 200 100  
Total assets      
Total assets 1,303,987   $ 996,048
FinTech | Global Gaming And Play Ditial Business      
Costs and expenses      
Transaction costs 300    
Employee retention costs 2,000    
FinTech | Global Gaming And Play Ditial Business, Original Proposed Transaction      
Costs and expenses      
Transaction costs   300  
Employee retention costs   600  
FinTech | Financial access services      
Revenues      
Total revenues 55,455 57,419  
Costs and expenses      
Total cost of revenues 2,849 2,697  
FinTech | Software and other      
Revenues      
Total revenues 27,287 25,776  
Costs and expenses      
Total cost of revenues 2,985 3,132  
FinTech | Hardware      
Revenues      
Total revenues 12,828 9,029  
Costs and expenses      
Total cost of revenues $ 8,430 $ 6,806  
v3.25.1
SEGMENT INFORMATION - Revenues (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Segment Reporting Information [Line Items]    
Revenues $ 181,296 $ 189,346
Cost of revenues 37,825 36,210
Payroll and related expense 53,921 51,227
Software license expense 8,451 10,772
Occupancy and related expense 6,219 8,029
Inventory and related expense 5,085 7,426
Accounting, taxes and consulting expense 3,332 5,993
Stock-based compensation expense 3,225 4,651
Travel expense 1,888 2,103
Legal and related expense 1,800 1,942
Marketing expense 501 310
Depreciation 21,491 19,951
Amortization 16,430 15,509
Other segment items 1,138 471
Operating income 19,990 24,752
Interest expense, net of interest income 15,633 18,800
Income before income tax 4,357 5,952
Games    
Segment Reporting Information [Line Items]    
Revenues 85,726 97,122
Cost of revenues [1] 23,561 23,575
Payroll and related expense 22,238 19,189
Software license expense 4,392 9,922
Occupancy and related expense 3,564 4,009
Inventory and related expense 2,082 5,543
Accounting, taxes and consulting expense 1,576 3,342
Stock-based compensation expense 1,501 1,021
Travel expense 548 673
Legal and related expense 549 1,131
Marketing expense 254 125
Depreciation 18,800 17,299
Amortization 12,625 11,412
Other segment items 811 188
Operating income (6,775) (307)
FinTech    
Segment Reporting Information [Line Items]    
Revenues 95,570 92,224
Cost of revenues [1] 14,264 12,635
Payroll and related expense 31,683 32,038
Software license expense 4,059 850
Occupancy and related expense 2,655 4,020
Inventory and related expense 3,003 1,883
Accounting, taxes and consulting expense 1,756 2,651
Stock-based compensation expense 1,724 3,630
Travel expense 1,340 1,430
Legal and related expense 1,251 811
Marketing expense 247 185
Depreciation 2,691 2,652
Amortization 3,805 4,097
Other segment items 327 283
Operating income $ 26,765 $ 25,059
[1] Exclusive of depreciation and amortization.
v3.25.1
SEGMENT INFORMATION - Major Customers (Details)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Five largest customers | Customer risk | Revenue from Contract with Customer    
Revenue, Major Customer [Line Items]    
Concentration risk, percentage 13.20% 13.00%