Hotels, Restaurants and Leisure
Company Overview of Everi Payments Inc.
Everi Payments Inc. develops and manufactures integrated software solutions and kiosks for cash management and other gaming operations in casinos. It offers kiosks solutions that include CXC 4.0 R, a cash access and cash handling solution; CXC 4.0 L, an integrated cash access device; JackpotXchange that automates jackpot payments; Xchange Explorer Plus, a reporting tool; and TableXchange, a device that connects table games to a casino’s existing TITO network allowing for scanning and printing TITO vouchers. The company also provides Cash Club, a cash access solution that streamlines credit/debit card transaction processing from a single dashboard interface; Central Credit, a credit bureau; Q...
7250 South Tenaya Way
Las Vegas, NV 89113
Founded in 1998
Key Executives for Everi Payments Inc.
Everi Payments Inc. does not have any Key Executives recorded.
Everi Payments Inc. Key Developments
Everi Announces Exchange Offer for its 10.00% Senior Unsecured Notes Due 2022
Nov 4 15
Everi Holdings Inc. announced that its wholly owned subsidiary, Everi Payments Inc., has commenced an offer to exchange up to $350.0 million in aggregate principal amount of 10.00% Senior Unsecured Notes due 2022, and related guarantees, which have been registered under the Securities Act of 1933, as amended (the New Notes), for an equal aggregate principal amount of its outstanding 10.00% Senior Unsecured Notes due 2022, and related guarantees, which were issued in a private placement (the Old Private Notes). The Old Private Notes are senior unsecured obligations of the company and are guaranteed by certain of the company's domestic subsidiaries (other than the Issuer). The Old Private Notes were issued under an indenture dated December 19, 2014, as amended, and the New Notes will be issued under the same indenture. The terms of the New Notes are substantially identical to the Old Private Notes, except that the New Notes, subject to specified conditions, will be freely transferable. The company will not receive any cash proceeds from the Exchange Offer. The sole purpose of the Exchange Offer is to fulfill the company's obligations with respect to the registration of the Old Private Notes. Pursuant to a registration rights agreement entered into by the Company in connection with the sale of the Old Private Notes, the company agreed to file with the Securities and Exchange Commission a registration statement relating to the Exchange Offer pursuant to which the New Notes, containing substantially identical terms to the Old Private Notes, would be offered in exchange for the Old Private Notes that are tendered by the holders of those notes. Any Old Private Notes not tendered for exchange in the Exchange Offer will remain outstanding and continue to accrue interest, but will not retain any rights under the registration rights agreement, except in limited circumstances. The Exchange Offer will expire at 5:00 p.m., New York City time, on December 4, 2015, unless extended. The company does not currently intend to extend the expiration date. Old Private Notes tendered pursuant to the Exchange Offer may be withdrawn at any time prior to the expiration of such offer by following the procedures set in the Exchange Offer prospectus dated November 4, 2015.
Global Cash Access, Inc. Enters into Note Purchase Agreement
Apr 15 15
On April 15, 2015, Global Cash Access, Inc., a wholly owned subsidiary of Global Cash Access Holdings, Inc. (GCA), entered into a note purchase agreement (the Note Purchase Agreement), among GCA, CPPIB Credit Investments III Inc. (the Purchaser) and Deutsche Bank Trust Company Americas, as collateral agent (the Collateral Agent) and issued $335.0 million in aggregate principal amount of its 7.25% Senior Secured Notes due 2021 (the Secured Notes) in a private offering to the Purchaser. GCA expects to realize annual interest expense savings of approximately $1.7 million from the issuance of the Secured Notes and the redemption, in full, of the Company's outstanding 7.75% Senior Secured Notes due 2021 from the noteholders thereof in accordance with the terms of the indenture governing the 7.75% Senior Secured Notes due 2021. The Secured Notes bear interest at the rate of 7.25% per annum, which accrues from April 15, 2015 and is payable quarterly in arrears on January 15, April 15, July 15 and October 15 of each year, beginning on July 15, 2015. For any interest period, so long as GCA, the Company and the subsidiary guarantors have not failed to create a perfected first priority lien on certain pledged equity before September 1, 2015, the Company may, at its option, elect to pay a portion of interest not to exceed 0.50% per annum by issuing additional certificated Secured Notes in a principal amount equal to the amount of such interest (such additional notes, PIK notes). Any PIK notes will be issued under the Note Purchase Agreement on the same terms and conditions as the Secured Notes issued on April 15, 2015.
Global Cash Access, Inc. Extends and Expands Business Relationship with Las Vegas Sands
Mar 9 15
Global Cash Access, Inc. announced that it has signed a multi-year agreement with one of its top customers, Las Vegas Sands. The contract extends existing cash access services and expands the business relationship to include the deployment of integrated kiosks across the full gaming floors at the Venetian and Palazzo resorts in Las Vegas, as well as Sands Bethlehem in Pennsylvania. This strategic partnership demonstrates the continued momentum Global Cash Access has achieved in providing a full service, comprehensive value offering to premier operators like Las Vegas Sands.
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