Business
Euronet Worldwide, Inc. Announces Minority Ownership in Las Vegas Company Marker Trax™ and Its Disruptive Digital Casino Marker System
Strategic partnership empowers both companies to pursue opportunities in a growing US$100 billion revenue segment of the 2022 North America gaming industry
About this update from Euronet Worldwide, Inc.
[{"type":"text","content":"Strategic partnership empowers both companies to pursue opportunities in a growing US$100 billion revenue segment of the 2022 North America gaming industry\nLEAWOOD, Kan., March 22, 2022 (GLOBE NEWSWIRE) -- Euronet Worldwide (NASDAQ: EEFT), Inc., a leading global financial technology solutions and payments provider, announced today it has signed a definitive agreement that gives the company minority ownership in Marker Trax, LLC, a Las Vegas-based fintech company that is disrupting the multibillion dollar gaming industry with a digital casino marker system. Marker Trax is currently active at U.S.-based commercial and tribal casinos, key segments of the North America gaming market which are expected to generate more than $100 billion in revenue in 20221 from the activities where the Marker Trax system is used including table games, slot machines, sports gambling, and online wagering. After licensing its REN payments platform (REN) to Marker Trax last year, this latest Euronet investment follows the digital marker solution’s successful enrollment of thousands of casino patrons and processing of millions of dollars in gaming credit during its initial deployments at Las Vegas-area properties. “Euronet and REN have always thrived in transaction-rich environments and this opportunity with Marker Trax provided a strategic opportunity for us to expand our business as well as theirs,” said Kevin Caponecchi, Executive VP and CEO, epay, Software and EFT Asia Pacific Division. “From the beginning, we have treated our relationship with Marker Trax as a partnership and not merely as a technology license. Watching the rapid adoption of the Marker Trax solution has been very exciting and we are even more enthused to be an invested player in their future success.” Marker Trax Streamlines Historically Time Intensive Casino Markers With Digital Solution Marker Trax is a first-of-its-kind, regulatory-compliant and cashless alternative to the traditional casino marker. In addition to convenience for patrons, Marker Trax provides casinos with the tools to manage marker underwriting and repayments, ensuring money remains with the casino by tracking the marker in the patron’s digital account and collecting funds at the end of each gaming session. The Marker Trax solution includes a mobile app and website that casino patrons use to apply for a marker an...