Koin Mobile, Everi Holdings enter settlement talks, pausing legal battle

February 17, 2025

Koin Mobile, Everi Holdings enter settlement talks, pausing legal battle

Las Vegas, Nevada-based Koin Mobile and Everi Holdings have agreed to a 90-day pause in their ongoing litigation to explore settlement options. This move signals a potential resolution to the antitrust lawsuit that has captured the attention of the digital payments sector.

Background of the dispute

The legal confrontation began in 2024 April when Koin Mobile filed an antitrust lawsuit against Everi Holdings in a Nevada federal court. Koin accused Everi of leveraging its dominant position in the cash-access market to stifle competition in the burgeoning cashless payments sector. Specifically, Koin alleged that Everi employed “onerous,” long-term exclusive agreements, compelling casinos to use Everi’s digital payment solutions exclusively, thereby hindering competitors like Koin from entering the market.

In response, Everi Holdings challenged Koin’s claims, filing a motion to dismiss the case. Everi argued that Koin’s assertions were based on a flawed understanding of the market, contending that cash access providers and digital wallets are not distinct markets but overlapping services. Everi maintained that its business practices were lawful and did not constitute anti-competitive behaviour.

Current developments

As of 14 February 2025, both companies have mutually agreed to a 90-day suspension of all legal proceedings to facilitate settlement discussions. This pause indicates a willingness from both parties to negotiate and potentially resolve their differences outside of court.

What are its implications?

The outcome of this dispute holds significant implications for the gaming industry’s digital payments landscape. A settlement could lead to more collaborative efforts between service providers, fostering innovation and offering casinos a broader array of payment solutions. Conversely, if negotiations falter and litigation resumes, the case could set a legal precedent, influencing how companies structure their contracts and engage in competitive practices within the industry.