This document summarizes Global Cash Access's proposed acquisition of Multimedia Games for approximately $1.2 billion. The combination brings together a global leader in cash access services and the fastest growing US slot machine manufacturer. It is expected to diversify revenue, expand margins, accelerate growth, and realize significant cost synergies. The transaction is expected to close in 4 to 7 months, pending shareholder and regulatory approvals.
This document contains forward-looking statements, disclaimers, and definitions related to CPI Card Group's financial reporting. It discusses risks and uncertainties inherent in forward-looking statements. It also provides context around non-GAAP financial measures reported by CPI Card Group and reconciliations to GAAP measures. The document establishes CPI Card Group as a North American leader in payment card solutions with leading market positions and addresses a large growing market driven by long-term trends in the payments industry.
- For the period ended March 31, 2018, Everi presented results from operations and provided forward-looking statements and non-GAAP financial measures.
- Everi is a transformative gaming supplier that delivers innovative gaming and payments products to enhance the casino experience. They have an experienced leadership team with decades of industry expertise.
- Everi transforms casino floors through state-of-the-art gaming content, payment solutions, and information systems. Their diverse product lineup includes the largest installed base of leased and participation games in North America.
Everi Holdings Inc. presented results for the period ended March 31, 2018. It processed almost 102 million transactions totaling $26 billion in the last 12 months. Everi is a leading provider of casino gaming products and financial transaction services. It has an installed base of over 14,000 games and payment solutions in over 1,050 locations. Everi is focused on investing in new premium games, cabinets, and cashless payment products to drive growth.
Everi provides an investor presentation covering their results of operations for the period ended March 31, 2018. They discuss forward-looking statements and non-GAAP financial measures. Everi is a transformative industry force delivering innovative gaming products and payment solutions to enhance the casino experience. Their diverse product portfolio includes games, payment systems, software solutions and information services. They have invested heavily in new premium games, cabinets, and expanding their payments offerings.
This document provides an overview of CPI Card Group, including:
1) CPI Card Group is a leading provider of payment card solutions in the US markets for large issuers, small/mid-sized issuers, and prepaid debit cards.
2) The company serves over 4,000 customers with a focus on end-to-end payment solutions including EMV cards, instant card issuance systems, personalization services, and prepaid cards.
3) CPI Card Group expects continued growth in the US payment card market driven by the ongoing transition to EMV cards and growth in prepaid debit cards. The company is also innovating new product offerings like metal cards.
Cpi card group q1 2017 earnings presentationcpi2016ir
The document is the transcript from CPI Card Group's first quarter 2017 earnings conference call. It includes a discussion of the company's financial results for Q1 2017 which showed a year-over-year decrease in total net sales and net income. Management provides commentary on market conditions, strategic focus, innovation highlights and reaffirms full year 2017 guidance ranges. The call also includes segments results and discussions of cash flow, free cash flow, and non-GAAP financial measures.
Cpi card group investor presentation march 2016cpi2016ir
The document provides an overview of CPI Card Group, a leading payment card manufacturer. It discusses CPI's market leadership positions, comprehensive product and service offerings, growth opportunities from EMV conversion, and attractive financial profile. Key points include CPI serving over 35% of the US payment card market, addressing a growing $1.3 billion market size by 2019, and delivering strong growth rates with 29% revenue CAGR and 52% adjusted EBITDA CAGR from 2012-2015. Acquisitions have expanded CPI's capabilities and market reach.
- Everi Holdings reported financial results for the second quarter of 2016, with consolidated revenues of $214.0 million. Games revenue was $54.3 million, down 1.1% year-over-year, while payments revenue was $159.7 million, up 5.4% year-over-year. Adjusted EBITDA was $51.2 million.
- Recent developments include new gaming cabinets accounting for 57% of unit sales, becoming fully EMV compliant, and debuting seven new branded games through licensing partnerships.
- Everi is increasing investment in game development with industry veterans leading efforts to design games that appeal to player preferences, supported by initiatives in technology innovation, hardware, and content
This document contains forward-looking statements, disclaimers, and definitions related to CPI Card Group's financial reporting. It discusses risks and uncertainties inherent in forward-looking statements. It also provides context around non-GAAP financial measures reported by CPI Card Group and reconciliations to GAAP measures. The document establishes CPI Card Group as a North American leader in payment card solutions with leading market positions and addresses a large growing market driven by long-term trends in the payments industry.
- For the period ended March 31, 2018, Everi presented results from operations and provided forward-looking statements and non-GAAP financial measures.
- Everi is a transformative gaming supplier that delivers innovative gaming and payments products to enhance the casino experience. They have an experienced leadership team with decades of industry expertise.
- Everi transforms casino floors through state-of-the-art gaming content, payment solutions, and information systems. Their diverse product lineup includes the largest installed base of leased and participation games in North America.
Everi Holdings Inc. presented results for the period ended March 31, 2018. It processed almost 102 million transactions totaling $26 billion in the last 12 months. Everi is a leading provider of casino gaming products and financial transaction services. It has an installed base of over 14,000 games and payment solutions in over 1,050 locations. Everi is focused on investing in new premium games, cabinets, and cashless payment products to drive growth.
Everi provides an investor presentation covering their results of operations for the period ended March 31, 2018. They discuss forward-looking statements and non-GAAP financial measures. Everi is a transformative industry force delivering innovative gaming products and payment solutions to enhance the casino experience. Their diverse product portfolio includes games, payment systems, software solutions and information services. They have invested heavily in new premium games, cabinets, and expanding their payments offerings.
This document provides an overview of CPI Card Group, including:
1) CPI Card Group is a leading provider of payment card solutions in the US markets for large issuers, small/mid-sized issuers, and prepaid debit cards.
2) The company serves over 4,000 customers with a focus on end-to-end payment solutions including EMV cards, instant card issuance systems, personalization services, and prepaid cards.
3) CPI Card Group expects continued growth in the US payment card market driven by the ongoing transition to EMV cards and growth in prepaid debit cards. The company is also innovating new product offerings like metal cards.
Cpi card group q1 2017 earnings presentationcpi2016ir
The document is the transcript from CPI Card Group's first quarter 2017 earnings conference call. It includes a discussion of the company's financial results for Q1 2017 which showed a year-over-year decrease in total net sales and net income. Management provides commentary on market conditions, strategic focus, innovation highlights and reaffirms full year 2017 guidance ranges. The call also includes segments results and discussions of cash flow, free cash flow, and non-GAAP financial measures.
Cpi card group investor presentation march 2016cpi2016ir
The document provides an overview of CPI Card Group, a leading payment card manufacturer. It discusses CPI's market leadership positions, comprehensive product and service offerings, growth opportunities from EMV conversion, and attractive financial profile. Key points include CPI serving over 35% of the US payment card market, addressing a growing $1.3 billion market size by 2019, and delivering strong growth rates with 29% revenue CAGR and 52% adjusted EBITDA CAGR from 2012-2015. Acquisitions have expanded CPI's capabilities and market reach.
- Everi Holdings reported financial results for the second quarter of 2016, with consolidated revenues of $214.0 million. Games revenue was $54.3 million, down 1.1% year-over-year, while payments revenue was $159.7 million, up 5.4% year-over-year. Adjusted EBITDA was $51.2 million.
- Recent developments include new gaming cabinets accounting for 57% of unit sales, becoming fully EMV compliant, and debuting seven new branded games through licensing partnerships.
- Everi is increasing investment in game development with industry veterans leading efforts to design games that appeal to player preferences, supported by initiatives in technology innovation, hardware, and content
This document provides an overview and summary of Tribune Publishing Company's third quarter 2014 financial performance. Key points include:
- Total operating revenues decreased 4.7% to $404 million for Q3 2014 compared to the prior year.
- Total operating expenses increased 0.7% to $399.5 million for Q3 2014.
- Advertising revenues decreased 9.5% to $220.8 million for Q3 2014, driven by declines in retail, national, and classified advertising. Circulation revenues increased slightly by 1.2% to $107.5 million.
Everi provides gaming content and technology solutions, integrated gaming payments solutions, and compliance software. Its games segment provides electronic gaming machines and related equipment through lease arrangements and sales, generating significant recurring revenue. Its payments segment provides cash access services at gaming facilities including ATMs and credit/debit card transactions, generating nearly all revenue through long-term recurring service contracts. For the last twelve months ended March 2017, Everi generated estimated consolidated revenue of $889 million and Adjusted EBITDA of $205 million from its installed base of over 13,000 gaming units and payments services.
This document provides supplemental materials for Virtu Financial's fourth quarter 2016 results, including:
1) A cautionary statement about forward-looking statements and associated risks and uncertainties.
2) An explanation of GAAP and non-GAAP financial measures included in the presentation.
3) A reconciliation of GAAP to non-GAAP measures such as normalized adjusted net income and free cash flow.
The document provides an overview of Lamar Advertising Company's financial results for the second quarter of 2018. Some key highlights include:
- Reported revenue increased 1.4% year-over-year, with organic revenue growth of 0.2%
- U.S. Media billboard revenue grew 1.3% organically, while transit and other revenue declined 3.0% organically
- Adjusted OIBDA increased 2.6% compared to the second quarter of 2017
- AFFO declined 1.2% due to higher interest expenses and the timing of tax payments
The document also discusses capital expenditures, digital revenue growth, balance sheet details, and provides an outlook for the third quarter
Virtu Financial, Inc. Agrees to Acquire KCG Holdings, Inc.virtu2017ir
Virtu Financial agrees to acquire KCG Holdings to create the leading global electronic market making and agency execution firm. The $1.4 billion all-cash acquisition will combine Virtu's extensive liquidity and order routing capabilities with KCG's wholesale market making and independent agency execution franchises. The acquisition is expected to generate over $208 million in annual cost savings and provide both companies' clients with new opportunities for trading across multiple asset classes and geographies. The transaction is anticipated to close in the third quarter of 2017 pending regulatory approvals.
1) The company reported adjusted consolidated revenue growth of 5% and adjusted net income of $5.2 million for the third quarter of 2015. The Structured Settlements segment achieved $3.2 million in adjusted net income.
2) The company completed the acquisition of Weststar Mortgage Inc. in July 2015. The Home Lending segment achieved $2 million in adjusted net income for the third quarter.
3) The company intends to implement hedging programs for both its Structured Settlements and Home Lending segments to partially offset interest rate risk exposure.
Everi holdings investor presentation march 2016Everi_Investors
Everi Holdings Inc. provided an investor presentation covering their Games and Payments segments. Some key points:
- The combination of Games and Payments provides expanded customer reach, complementary products on the casino floor, significant recurring revenue of approximately 90% of total revenue, and free cash flow prioritized for debt repayment.
- The Games segment generates revenue from gaming operations with over 13,000 units installed and machine sales, while the Payments segment generates revenue from ATM, cash advance, check services and other products.
- Synergies from the combination are estimated at $30 million, with $24 million of run rate synergies implemented as of 9/30/15 and the remaining $6 million expected
OUTFRONT Media provides an overview of its business in an investor presentation. It operates a portfolio of over 500,000 displays across the United States, including billboards, transit displays, and digital billboards. It generates revenue by leasing advertising space on these displays under contracts ranging from 4 weeks to a year. The company's assets are concentrated in major US markets, and it has a simple business model of generating revenue from advertising tenants. OUTFRONT Media also discusses its transition to a REIT structure to benefit from certain tax advantages.
OUTFRONT Media provides an overview of its business in an investor presentation. It operates a portfolio of over 500,000 displays across the United States, including billboards, transit displays, and digital billboards. It generates revenue by leasing advertising space on these displays under contracts ranging from 4 weeks to a year. The company's assets are concentrated in major US markets, and it has a simple business model of generating revenue from advertising tenants. OUTFRONT Media also discusses its transition to a REIT structure to qualify for favorable tax treatment.
OUTFRONT Media provides an overview of its business in an investor presentation. It operates a portfolio of over 500,000 displays across the United States, including billboards, transit displays, and digital billboards. It generates revenue by leasing advertising space on these displays under contracts ranging from 4 weeks to a year. The company owns most of the permits and physical structures for its billboard locations, as well as transit franchise agreements in major cities. It is focused on growing its digital inventory and expanding in key US markets. The presentation also outlines OUTFRONT's REIT structure and provides financial information.
- Everi provides games and payments solutions for the gaming industry and generated $944.6 million in revenue over the last 12 months.
- Their games segment provides gaming machines, content, and systems to casinos, while their payments segment offers cash access and compliance services.
- Recently, Everi has extended several large contracts, expanded into new markets, and launched new licensed game content, driving continued revenue growth.
- They also recently refinanced their debt to reduce interest costs and extended debt maturities.
The document provides a summary of CBS Outdoor's second quarter 2014 financial results. Key highlights include total revenues increasing 1.6% to $334.4 million, with billboard revenue up 2.7% and Adjusted OIBDA rising 2.2% to $110.3 million. In the United States, revenue increased 1.8% to $291.1 million and Adjusted OIBDA grew 1.9% to $106.4 million. Internationally, revenue was up 0.2% to $43.3 million but Adjusted OIBDA declined 15.2% to $9.5 million due to increased expenses. CBS Outdoor remains focused on acquisitions, yield improvement and re
Everi Holdings Inc. held an investor presentation in September 2015 to provide an overview of the company following its acquisition of Everi Games Holdings Inc. in December 2014. The combined company focuses on leveraging complementary gaming and cash access products and services. Key highlights include high recurring revenue from gaming operations and cash access services, significant free cash flow generation for debt repayment, and achievable cost synergies exceeding $30 million annually. The presentation emphasized growth opportunities from the combined business and differentiated product portfolio across both segments.
The document provides an investor presentation for Bank of America Merrill Lynch's Banking & Financial Services Conference. It summarizes Bank of California's business strategy and financial performance. The key points are:
- Bank of California has grown rapidly through acquisitions to become the 8th largest public independent bank in California with over $7 billion in assets.
- It focuses on commercial lending in California and empowering the state's diverse businesses and communities.
- The bank has achieved strong earnings growth and increasing returns on assets and equity, while maintaining solid asset quality.
- Management sees opportunities to continue growing the bank by deepening relationships in California's large economy and attractive banking market.
Banc 2016 Third Quarter Earnings - Investor PresentationBancofCalifornia
- The document provides an investor presentation for Banc of California's third quarter 2016 earnings. It discusses strong financial results for Q3 2016 including record deposit and loan production growth. It also outlines steps taken in Q3 to reduce risk and improve asset quality through loan sales and portfolio pruning. Key metrics like nonperforming assets, delinquencies and capital ratios all improved. The presentation expresses confidence that Banc of California is executing on its strategic plan to continue growing profitably.
Advantages to Pre-Tax Deferral of Income in An Uncertain Tax Environment: 201...Fulcrum Partners LLC
A White Paper Report from Fulcrum Partners LLC - April 2018 - by Steve Broadbent and Chris Nyland
This article was originally written in 2013 and has been revised to reflect today’s economic and tax considerations.
Morgan Stanley reported second quarter net income of $797 million, down 14% from the previous year. Net revenues decreased 17% to $4.965 billion due to declines across most business segments. However, the company maintained a return on equity of 15% and benefited from strength in its Discover credit card segment. Going forward, Morgan Stanley will continue exercising expense discipline while serving client needs in challenging markets.
JGW Business Overview – Jeffries Crossover Consumer Finance Summit investorjgwpt
The document discusses several non-GAAP financial measures used by the company, including Adjusted Net Income, Total Adjusted Revenue, Spread Revenue, and EBITDA. It provides definitions for each measure and notes they exclude amounts related to consolidated securitization trusts. The company uses these measures to evaluate performance excluding impacts of the trusts. It also provides an overview of the company's businesses in structured settlement purchasing, home lending, and plans for personal lending and prepaid cards. The goal is to diversify as a consumer financial services company through growth, cost savings, and new product lines.
BANC 2017 Third Quarter Earnings - Investor PresentationBancofCalifornia
- Banc of California reported third quarter 2017 earnings and provided an investor presentation.
- The presentation highlighted that the company re-mixed its balance sheet by selling securities and loans held for sale, while growing loans held for investment organically.
- Loans held for investment grew by $271 million compared to the previous quarter through new loan originations, while expenses excluding special items met targets. Credit quality remained strong with lower nonperforming assets.
This document provides highlights from Itaú Unibanco Holding's 1st quarter 2013 earnings call. Key points include:
- Recurring net income increased 0.3% from the previous quarter to R$3.5 billion, with a recurring ROE of 19.1%.
- Managerial financial margin totaled R$11.5 billion, down from R$11.7 billion in 4Q12 and R$12.6 billion in 1Q12.
- Credit quality improved with the 90-day NPL ratio down 30 bps from 4Q12 and 60 bps from 1Q12, while allowance for loan losses decreased 14% from 4Q12.
The document provides an investor presentation for Global Cash Access Holdings, Inc. following their acquisition of Multimedia Games Holding Company, Inc. in December 2014. The acquisition combines GCA's global cash access services business with Multimedia Games' gaming machine and systems manufacturing and supply business. Key points discussed include:
- The combination provides significant cross-selling opportunities, a more diversified and stable recurring revenue base, and expected annual synergies of $28 million.
- Multimedia Games has a growing gaming operations business with over 13,000 gaming units installed, as well as a machine sales segment where unit sales have increased at a 26% CAGR.
- The acquisition accelerates Multimedia Games' growth
1. Bragg reported financial results for the first half of 2021 with revenue increasing 27.6% compared to the same period in 2020 and Adjusted EBITDA up 8.5% despite regulatory changes in Germany.
2. For the full year 2021, Bragg expects revenue between €47-49 million and Adjusted EBITDA between €4.8-5.4 million, accounting for the impact of new regulations in Germany.
3. Looking ahead, Bragg provided revenue guidance of €54-56 million for 2022 driven by its expansion into new markets, growth of existing markets and customers, and acquisitions completed in 2021.
This document provides an overview and summary of Tribune Publishing Company's third quarter 2014 financial performance. Key points include:
- Total operating revenues decreased 4.7% to $404 million for Q3 2014 compared to the prior year.
- Total operating expenses increased 0.7% to $399.5 million for Q3 2014.
- Advertising revenues decreased 9.5% to $220.8 million for Q3 2014, driven by declines in retail, national, and classified advertising. Circulation revenues increased slightly by 1.2% to $107.5 million.
Everi provides gaming content and technology solutions, integrated gaming payments solutions, and compliance software. Its games segment provides electronic gaming machines and related equipment through lease arrangements and sales, generating significant recurring revenue. Its payments segment provides cash access services at gaming facilities including ATMs and credit/debit card transactions, generating nearly all revenue through long-term recurring service contracts. For the last twelve months ended March 2017, Everi generated estimated consolidated revenue of $889 million and Adjusted EBITDA of $205 million from its installed base of over 13,000 gaming units and payments services.
This document provides supplemental materials for Virtu Financial's fourth quarter 2016 results, including:
1) A cautionary statement about forward-looking statements and associated risks and uncertainties.
2) An explanation of GAAP and non-GAAP financial measures included in the presentation.
3) A reconciliation of GAAP to non-GAAP measures such as normalized adjusted net income and free cash flow.
The document provides an overview of Lamar Advertising Company's financial results for the second quarter of 2018. Some key highlights include:
- Reported revenue increased 1.4% year-over-year, with organic revenue growth of 0.2%
- U.S. Media billboard revenue grew 1.3% organically, while transit and other revenue declined 3.0% organically
- Adjusted OIBDA increased 2.6% compared to the second quarter of 2017
- AFFO declined 1.2% due to higher interest expenses and the timing of tax payments
The document also discusses capital expenditures, digital revenue growth, balance sheet details, and provides an outlook for the third quarter
Virtu Financial, Inc. Agrees to Acquire KCG Holdings, Inc.virtu2017ir
Virtu Financial agrees to acquire KCG Holdings to create the leading global electronic market making and agency execution firm. The $1.4 billion all-cash acquisition will combine Virtu's extensive liquidity and order routing capabilities with KCG's wholesale market making and independent agency execution franchises. The acquisition is expected to generate over $208 million in annual cost savings and provide both companies' clients with new opportunities for trading across multiple asset classes and geographies. The transaction is anticipated to close in the third quarter of 2017 pending regulatory approvals.
1) The company reported adjusted consolidated revenue growth of 5% and adjusted net income of $5.2 million for the third quarter of 2015. The Structured Settlements segment achieved $3.2 million in adjusted net income.
2) The company completed the acquisition of Weststar Mortgage Inc. in July 2015. The Home Lending segment achieved $2 million in adjusted net income for the third quarter.
3) The company intends to implement hedging programs for both its Structured Settlements and Home Lending segments to partially offset interest rate risk exposure.
Everi holdings investor presentation march 2016Everi_Investors
Everi Holdings Inc. provided an investor presentation covering their Games and Payments segments. Some key points:
- The combination of Games and Payments provides expanded customer reach, complementary products on the casino floor, significant recurring revenue of approximately 90% of total revenue, and free cash flow prioritized for debt repayment.
- The Games segment generates revenue from gaming operations with over 13,000 units installed and machine sales, while the Payments segment generates revenue from ATM, cash advance, check services and other products.
- Synergies from the combination are estimated at $30 million, with $24 million of run rate synergies implemented as of 9/30/15 and the remaining $6 million expected
OUTFRONT Media provides an overview of its business in an investor presentation. It operates a portfolio of over 500,000 displays across the United States, including billboards, transit displays, and digital billboards. It generates revenue by leasing advertising space on these displays under contracts ranging from 4 weeks to a year. The company's assets are concentrated in major US markets, and it has a simple business model of generating revenue from advertising tenants. OUTFRONT Media also discusses its transition to a REIT structure to benefit from certain tax advantages.
OUTFRONT Media provides an overview of its business in an investor presentation. It operates a portfolio of over 500,000 displays across the United States, including billboards, transit displays, and digital billboards. It generates revenue by leasing advertising space on these displays under contracts ranging from 4 weeks to a year. The company's assets are concentrated in major US markets, and it has a simple business model of generating revenue from advertising tenants. OUTFRONT Media also discusses its transition to a REIT structure to qualify for favorable tax treatment.
OUTFRONT Media provides an overview of its business in an investor presentation. It operates a portfolio of over 500,000 displays across the United States, including billboards, transit displays, and digital billboards. It generates revenue by leasing advertising space on these displays under contracts ranging from 4 weeks to a year. The company owns most of the permits and physical structures for its billboard locations, as well as transit franchise agreements in major cities. It is focused on growing its digital inventory and expanding in key US markets. The presentation also outlines OUTFRONT's REIT structure and provides financial information.
- Everi provides games and payments solutions for the gaming industry and generated $944.6 million in revenue over the last 12 months.
- Their games segment provides gaming machines, content, and systems to casinos, while their payments segment offers cash access and compliance services.
- Recently, Everi has extended several large contracts, expanded into new markets, and launched new licensed game content, driving continued revenue growth.
- They also recently refinanced their debt to reduce interest costs and extended debt maturities.
The document provides a summary of CBS Outdoor's second quarter 2014 financial results. Key highlights include total revenues increasing 1.6% to $334.4 million, with billboard revenue up 2.7% and Adjusted OIBDA rising 2.2% to $110.3 million. In the United States, revenue increased 1.8% to $291.1 million and Adjusted OIBDA grew 1.9% to $106.4 million. Internationally, revenue was up 0.2% to $43.3 million but Adjusted OIBDA declined 15.2% to $9.5 million due to increased expenses. CBS Outdoor remains focused on acquisitions, yield improvement and re
Everi Holdings Inc. held an investor presentation in September 2015 to provide an overview of the company following its acquisition of Everi Games Holdings Inc. in December 2014. The combined company focuses on leveraging complementary gaming and cash access products and services. Key highlights include high recurring revenue from gaming operations and cash access services, significant free cash flow generation for debt repayment, and achievable cost synergies exceeding $30 million annually. The presentation emphasized growth opportunities from the combined business and differentiated product portfolio across both segments.
The document provides an investor presentation for Bank of America Merrill Lynch's Banking & Financial Services Conference. It summarizes Bank of California's business strategy and financial performance. The key points are:
- Bank of California has grown rapidly through acquisitions to become the 8th largest public independent bank in California with over $7 billion in assets.
- It focuses on commercial lending in California and empowering the state's diverse businesses and communities.
- The bank has achieved strong earnings growth and increasing returns on assets and equity, while maintaining solid asset quality.
- Management sees opportunities to continue growing the bank by deepening relationships in California's large economy and attractive banking market.
Banc 2016 Third Quarter Earnings - Investor PresentationBancofCalifornia
- The document provides an investor presentation for Banc of California's third quarter 2016 earnings. It discusses strong financial results for Q3 2016 including record deposit and loan production growth. It also outlines steps taken in Q3 to reduce risk and improve asset quality through loan sales and portfolio pruning. Key metrics like nonperforming assets, delinquencies and capital ratios all improved. The presentation expresses confidence that Banc of California is executing on its strategic plan to continue growing profitably.
Advantages to Pre-Tax Deferral of Income in An Uncertain Tax Environment: 201...Fulcrum Partners LLC
A White Paper Report from Fulcrum Partners LLC - April 2018 - by Steve Broadbent and Chris Nyland
This article was originally written in 2013 and has been revised to reflect today’s economic and tax considerations.
Morgan Stanley reported second quarter net income of $797 million, down 14% from the previous year. Net revenues decreased 17% to $4.965 billion due to declines across most business segments. However, the company maintained a return on equity of 15% and benefited from strength in its Discover credit card segment. Going forward, Morgan Stanley will continue exercising expense discipline while serving client needs in challenging markets.
JGW Business Overview – Jeffries Crossover Consumer Finance Summit investorjgwpt
The document discusses several non-GAAP financial measures used by the company, including Adjusted Net Income, Total Adjusted Revenue, Spread Revenue, and EBITDA. It provides definitions for each measure and notes they exclude amounts related to consolidated securitization trusts. The company uses these measures to evaluate performance excluding impacts of the trusts. It also provides an overview of the company's businesses in structured settlement purchasing, home lending, and plans for personal lending and prepaid cards. The goal is to diversify as a consumer financial services company through growth, cost savings, and new product lines.
BANC 2017 Third Quarter Earnings - Investor PresentationBancofCalifornia
- Banc of California reported third quarter 2017 earnings and provided an investor presentation.
- The presentation highlighted that the company re-mixed its balance sheet by selling securities and loans held for sale, while growing loans held for investment organically.
- Loans held for investment grew by $271 million compared to the previous quarter through new loan originations, while expenses excluding special items met targets. Credit quality remained strong with lower nonperforming assets.
This document provides highlights from Itaú Unibanco Holding's 1st quarter 2013 earnings call. Key points include:
- Recurring net income increased 0.3% from the previous quarter to R$3.5 billion, with a recurring ROE of 19.1%.
- Managerial financial margin totaled R$11.5 billion, down from R$11.7 billion in 4Q12 and R$12.6 billion in 1Q12.
- Credit quality improved with the 90-day NPL ratio down 30 bps from 4Q12 and 60 bps from 1Q12, while allowance for loan losses decreased 14% from 4Q12.
The document provides an investor presentation for Global Cash Access Holdings, Inc. following their acquisition of Multimedia Games Holding Company, Inc. in December 2014. The acquisition combines GCA's global cash access services business with Multimedia Games' gaming machine and systems manufacturing and supply business. Key points discussed include:
- The combination provides significant cross-selling opportunities, a more diversified and stable recurring revenue base, and expected annual synergies of $28 million.
- Multimedia Games has a growing gaming operations business with over 13,000 gaming units installed, as well as a machine sales segment where unit sales have increased at a 26% CAGR.
- The acquisition accelerates Multimedia Games' growth
1. Bragg reported financial results for the first half of 2021 with revenue increasing 27.6% compared to the same period in 2020 and Adjusted EBITDA up 8.5% despite regulatory changes in Germany.
2. For the full year 2021, Bragg expects revenue between €47-49 million and Adjusted EBITDA between €4.8-5.4 million, accounting for the impact of new regulations in Germany.
3. Looking ahead, Bragg provided revenue guidance of €54-56 million for 2022 driven by its expansion into new markets, growth of existing markets and customers, and acquisitions completed in 2021.
This document is Paychex, Inc.'s annual report on Form 10-K for the fiscal year ended May 31, 2023 filed with the Securities and Exchange Commission. It provides information on Paychex's business, risk factors, legal proceedings, operating segments, financial statements, and other required disclosures. Specifically, the report indicates that Paychex is a Delaware corporation providing integrated human capital management solutions primarily for small- and medium-sized businesses. It operates in two reportable segments: management solutions and professional employer organization.
Silvergate Bank Results Presentation Deck Jan 2023.pdfBryann Alexandros
Silvergate Bank was a bank in California that helped people and businesses who used cryptocurrencies. The bank was started in 1988 and began working with the crypto sector in 2016. It became a public company in 2019 and was one of the best banks for crypto new things. It had a platform called the Silvergate Exchange Network (SEN) that let people do fast and safe deals between crypto companies and big investors. But Silvergate Bank went broke in March 2023 after having many problems in the crypto market. The bank lost a lot of money after FTX, one of its big customers and partners, went broke too. The bank also lost money from the drop in cryptocurrency prices and the law problems on crypto things. The bank said that it was closing and selling its things after not getting any help or a buyer. The collapse of Silvergate Bank made a lot of fear and doubt in the crypto sector, as many customers and businesses could not get their money and services. The bank’s failure also made people wonder about the future and success of crypto banking and new things.
Bragg Gaming Group is a next generation gaming group with cutting-edge technology, leading brands and world-class management expertise, developing into a global gaming force. Formed by a team of gaming industry experts, Bragg's main portfolio asset is ORYX Gaming, an innovative business-to-business gaming technology platform and casino content aggregator. Through this brand and targeted acquisitions, Bragg is focused on becoming a leader within the evolving global gaming industry.
This document contains forward-looking statements, disclaimers, and definitions related to CPI Card Group's financial reporting. It discusses risks and uncertainties inherent in forward-looking statements. It also provides context around non-GAAP financial measures reported by CPI Card Group and reconciliations to GAAP measures. The document establishes CPI Card Group as a North American leader in payment card solutions with leading market positions in key segments and an attractive financial profile supported by recurring revenue, industry trends, and operating leverage.
The document discusses Aimia's financial outlook and investments to grow. It notes that Aimia has a track record of growing gross billings and free cash flow. It also focuses on returning value to shareholders through dividend increases and share repurchases. The document outlines details of new long-term financial credit card agreements with TD and CIBC that are expected to drive Aeroplan program growth. It provides financial implications and targets for 2013-2015, including higher gross billings, adjusted EBITDA, and free cash flow. Aimia has a strong balance sheet to support further investments in emerging markets and capabilities.
The document provides highlights for Q2 2013, including:
- Gross billings increased 2.9% with growth in US&APAC and EMEA offsetting a decline in Canada.
- Adjusted EBITDA was relatively flat as a VAT adjustment and breakage income offset declines in Canada, US&APAC, and increased corporate costs.
- Financial results in EMEA benefited from the VAT decision and higher volumes, while US&APAC results reflected investments offsetting the impact of acquisitions.
Bragg Gaming Group is a next generation gaming group with cutting-edge technology, leading brands and world-class management expertise, developing into a global gaming force. Formed by a team of gaming industry experts, Bragg's main portfolio asset is ORYX Gaming, an innovative business-to-business gaming technology platform and casino content aggregator. Through this brand and targeted acquisitions, Bragg is focused on becoming a leader within the evolving global gaming industry.
1) AGS successfully priced its IPO in January 2018, using the proceeds to pay down debt. This lowered its pro forma net debt to Credit Agreement Pro Forma Adjusted EBITDA ratio to 4.1x.
2) AGS is seeking to lower borrowing costs on its existing $513 million term loan by repricing it at a reduced spread of 125 basis points. This is expected to save $6 million annually in interest costs.
3) In other news, AGS acquired Rocket Gaming Systems' assets in December 2017 for $57 million, expanding its product offerings. Its installed base and revenue continued growing in Q4 2017 compared to the prior year.
MGM Resorts International reported financial results for the third quarter of 2017. Net income was $149 million. Domestic resort revenues increased 18% due to strong performance of Las Vegas Strip properties and a full quarter of operations for recently acquired properties. Adjusted Property EBITDA for domestic resorts grew 25% to $714 million. MGM China reported a 21% decrease in Adjusted EBITDA to $118 million despite a 2% increase from the previous quarter. MGM Resorts remains focused on maximizing shareholder value through continued investment in existing properties and prudent growth opportunities.
- Iron Mountain reported strong Q2 and first half 2018 financial results, with revenue up 11% and adjusted EBITDA up 15% in Q2 on a constant currency basis.
- The company continues to execute on its strategic plan, driving growth in both developed and emerging markets through organic expansion and acquisitions.
- Key metrics like internal storage rental revenue growth and adjusted EBITDA margins expanded in the first half of the year.
- Iron Mountain is on track to achieve its 2020 plan of profitable and sustainable growth, expanding revenue to $4.6-4.75 billion and adjusted EBITDA to $1.68-1.76 billion through balanced growth in both its core developed markets and higher
This document provides an overview of Winnebago Industries' presentation at the Baird ESG Investor Conference on February 24, 2021. It begins with forward-looking statements and disclaimers, then discusses the company's strategic priorities, transformation, financial results, capital allocation, leverage ratio, and outlook for strong interest in the outdoors. The presentation highlights Winnebago's leadership in premium outdoor lifestyle brands and diversification across RV, marine, and specialty vehicles. It summarizes the company's focus on innovation, quality, service, and building lifetime customer intimacy.
Cpi card group presentation june 2016 final webcpi2016ir
The document discusses forward-looking statements and disclaimers, non-GAAP financial measures, and the card payment solutions industry. It provides the following information:
- The document contains forward-looking statements that are based on estimates and assumptions that could cause actual results to differ materially.
- It discusses non-GAAP financial measures like Adjusted EBITDA, Adjusted Net Income, and Adjusted Free Cash Flow that should not be considered alternatives to GAAP measures.
- CPI is a leading provider of card payment solutions in North America with the number one position in several US markets and long-term customer relationships.
This document provides an overview of SemGroup's non-GAAP financial measures, forward-looking statements, and strategic growth plan. It discusses SemGroup's Adjusted EBITDA measure and why certain items are excluded. It also notes key limitations of non-GAAP measures and that management compensates for these limitations. An overview is then provided of SemGroup's crude and natural gas assets, operations, and strategic growth areas. Key performance metrics and asset details are highlighted for SemGroup's crude and natural gas businesses.
This document provides a non-GAAP financial measure called Adjusted EBITDA used by SemGroup. It explains that Adjusted EBITDA excludes selected non-cash and other items to increase comparability between reporting periods and is used by management and discussed with investors. However, it has limitations as an analytical tool since it excludes some items affecting the most directly comparable GAAP measure. The document also provides forward-looking statements about SemGroup's prospects, financial performance, growth plans, and managing risks in a lower commodity price environment. It highlights SemGroup's strengths including stable cash flows from contracts and investment-grade counterparties.
This document contains forward-looking statements about the company's future financial performance and key factors that could affect actual results. It also provides context about the company's business in 2014 including revenue of $2.2 billion and adjusted EBITDA of $116 million. Additionally, it outlines the company's strategy to grow market leadership through expanding service offerings and leveraging technology for greater efficiency.
Bragg Gaming Group is a next generation gaming group with cutting-edge technology, leading brands and world-class management expertise, developing into a global gaming force. Formed by a team of gaming industry experts, Bragg's main portfolio asset is ORYX Gaming, an innovative business-to-business gaming technology platform and casino content aggregator. Through this brand and targeted acquisitions, Bragg is focused on becoming a leader within the evolving global gaming industry.
Bragg Gaming Group is a next generation gaming group with cutting-edge technology, leading brands and world-class management expertise, developing into a global gaming force. Formed by a team of gaming industry experts, Bragg's main portfolio asset is ORYX Gaming, an innovative business-to-business gaming technology platform and casino content aggregator. Through this brand and targeted acquisitions, Bragg is focused on becoming a leader within the evolving global gaming industry.
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UnityNet World Environment Day Abraham Project 2024 Press ReleaseLHelferty
June 12, 2024 UnityNet International (#UNI) World Environment Day Abraham Project 2024 Press Release from Markham / Mississauga, Ontario in the, Greater Tkaronto Bioregion, Canada in the North American Great Lakes Watersheds of North America (Turtle Island).
2. Forward-Looking Statements
Throughout this document pertaining to the merger transaction between GCA and Multimedia Games, we make forward-looking statements within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995. Forward-looking statements may be typically identified by such words as “may,” “will,” “should,” “would,” “expect,”
“anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend,” and other similar expressions among others. Although we believe the expectations reflected in any
forward-looking statements are reasonable, they involve known and unknown risks and uncertainties, are not guarantees of future performance, and actual results,
performance or achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements and any
or all of our forward-looking statements may prove to be incorrect. Consequently, no forward-looking statements may be guaranteed and there can be no assurance that the
actual results or developments anticipated by such forward looking statements will be realized or, even if substantially realized, that they will have the expected
consequences to, or effects on, GCA or Multimedia Games or their respective businesses or operations. Factors which could cause our actual results to differ from those
projected or contemplated in any such forward-looking statements include, but are not limited to, the following factors: (1) the risk that the conditions to the closing of the
merger are not satisfied (including a failure of the shareholders of Multimedia Games to approve, on a timely basis or otherwise, the merger and the risk that regulatory
approvals required for the merger are not obtained, on a timely basis or otherwise, or are obtained subject to conditions that are not anticipated); (2) litigation relating to the
merger; (3) uncertainties as to the timing of the consummation of the merger and the ability of each of GCA and Multimedia Games to consummate the merger; (4) risks
that the proposed transaction disrupts the current plans and operations of GCA and/or Multimedia Games; (5) the ability of GCA and Multimedia Games to retain and hire
key personnel; (6) competitive responses to the proposed merger; (7) unexpected costs, charges or expenses resulting from the merger; (8) the failure by GCA to obtain the
necessary debt financing arrangements set forth in the commitment letter received in connection with the merger; (9) potential adverse reactions or changes to business
relationships resulting from the announcement or completion of the merger; and (10) legislative, regulatory and economic developments. The foregoing review of important
factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included
herein and elsewhere, including the risk factors included in GCA’s and Multimedia Games’ most recent Annual Reports on Form 10-K, and GCA’s and Multimedia Games’
more recent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the U.S. Securities and Exchange Commission. GCA and Multimedia Games can
give no assurance that the conditions to the Merger will be satisfied. Except as required by applicable law, neither GCA nor Multimedia Games undertake any obligation to
revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. GCA
and Multimedia Games do not intend, and assume no obligation, to update any forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking
PRIVILEGED AND CONFIDENTIAL
Disclaimer
2
statements, which speak only as of the date of this communication.
Additional Notes
This presentation may contain industry market data, industry forecasts and other statistical information. Such information has been obtained from publicly available
information and industry publications. GCA has not independently verified such information and makes no representations as to the accuracy of such information.
Non-GAAP Financial Measures
This presentation includes several financial measures that were not prepared in accordance with generally accepted accounting principles in the United States (GAAP). As
used herein, Adjusted EBITDA is a non-GAAP measurement presented herein as a supplemental disclosure. GCA defines Adjusted EBITDA as earnings before interest
income and expense, income taxes, depreciation, amortization, and equity compensation expense. Multimedia Games defines Adjusted EBITDA as net income before net
interest expense, income taxes, depreciation, amortization and accretion of contract rights. As shown in this presentation, Adjusted EBITDA for the combined company is
presented based on the combination of GCA’s consolidated Adjusted EBITDA and Multimedia Games’ consolidated Adjusted EBITDA for the trailing 12-month period
ended June 30, 2014, taking into account synergies GCA expects to achieve. Adjusted EBITDA is presented herein for informational purposes only and does not represent
“pro forma” amounts determined in accordance with SEC rules and regulations.
3. Transformational Transaction
Transformational combination that positions GCA as a unique and formidable provider of best-in-class,
gaming-relevant solutions
PRIVILEGED AND CONFIDENTIAL
3
4. Global Cash Access Announces Agreement to
Acquire Multimedia Games
GCA has announced an agreement to acquire all the outstanding stock of MGAM for approximately $1.2 billion in
cash
The transaction combines a global leader in cash access services with the fastest growing U.S. based
manufacturer and supplier of gaming machines and systems to commercial and Native American casino
operators
PRIVILEGED AND CONFIDENTIAL
4
Diversifies revenue base, expands margins and propels future growth
Broadens GCA’s product and service offerings and enhances recurring revenue
Significant cross selling potential and leverage across an established sales force and global customer base
Accelerates MGAM entry into new markets
Meaningful cost synergies
Materially enhances shareholder value, both immediate and long-term
Highly accretive to both earnings and free cash flow immediately after close
Pro forma company will have ability to rapidly pay down debt incurred as part of this transaction
Transaction is expected to close in approximately 4 to 7 months, subject to MGAM shareholder and requisite
regulatory approvals
5. PRIVILEGED AND CONFIDENTIAL
Transaction Overview
5
Per Share
Consideration
Cash consideration of $36.50 per MGAM share
Transaction Value
Equity value of approximately $1.2 billion, and transaction value (excluding net cash) of approximately $1.1 billion
Valuation (pre/post
synergies)
9.1x LTM 6/30/14 Adjusted EV/EBITDA multiple, excluding anticipated synergies
7.2x LTM 6/30/14 Adjusted EV/EBITDA multiple, including $30mm of anticipated run-rate synergies
Sources of
Financing
Financing commitment received from Bank of America Merrill Lynch and Deutsche Bank
$800 million Term Loan B
$400 million Senior Notes
$50 million revolving credit facility
Conditions to
Closing
Required approvals
MGAM shareholder approval
Gaming regulatory approvals
Other customary conditions
Expected Closing
Approximately 4 to 7 months, subject to MGAM shareholder and requisite regulatory approvals
Note: Company reported EBITDA excluding stock based compensation.
6. Global Cash Access Overview
Market Leader of Cash Access Services Provided to the U.S. Gaming Market
Historical Revenue Historical Adjusted EBITDA(2)
15.0%
5.0%
(5.0%)
$100.0
$80.0
$60.0
$40.0
$20.0
PRIVILEGED AND CONFIDENTIAL
$800.0
$600.0
$400.0
$200.0
Note: Fiscal year ending December 31
(1) LTM 6/30/14
(2) Adjusted EBITDA excludes stock-based compensation
6
$544.1 $584.5 $582.4 $582.1
(10.2%)
7.4%
(0.3%) (0.1%)
(15.0%)
$0.0
FY11 FY12 FY13 LTM2Q14
Revenue % Growth
$61.7
$79.3
$71.2 $71.1
11.3%
13.6%
12.2% 12.2%
20.0%
18.0%
16.0%
14.0%
12.0%
10.0%
$0.0
FY11 FY12 FY13 LTM2Q14
EBITDA % Margin
ATM (48% of LTM (1) Revenue):
Enables cash withdrawals
using a patron's ATM, debit or
credit card
Processed 74mm
transactions in 2013
$14.3bn in total dollar volume
Check Services (4% of LTM(1)
Revenue):
Check verification and
warranty services, which
allow gaming establishments
to manage and reduce risks
on patron checks cashed
Processed 4mm transactions
in 2013
$1.1bn in dollar volume
Cash Advance (40% of LTM (1)
Revenue):
Enables cash advances
through credit card cash
access and POS debit card
transactions
Processed 9mm transactions
in 2013
$4.9bn in dollar volume
Other (8% of LTM (1) Revenue):
Includes slot machine and
jackpot kiosk sales and
services, central credit
reporting services, casino
marketing services and
business intelligence software
~54% revenue growth in
segment during 2013
7. Multimedia Games Overview
Rapidly Growing Manufacturer With Strong Recurring Revenue Base and Significant Upside
Potential
Historical Revenue Historical Adjusted EBITDA(2)
40.0%
30.0%
20.0%
10.0%
$150.0
$100.0
$50.0
PRIVILEGED AND CONFIDENTIAL
$250.0
$200.0
$150.0
$100.0
$50.0
Note: Fiscal year ending September 30
(1) LTM 6/30/14.
(2) Company reported EBITDA excludes accretion of contract rights
7
$127.9
$156.2
$189.4
$218.0
8.4%
22.1% 21.3%
26.5%
0.0%
$0.0
FY 11 FY 12 FY 13 LTM 3Q14
Revenue % Growth
$56.6 $74.5
$99.7
$115.5
44.3% 47.7% 52.6% 52.9%
100.0%
80.0%
60.0%
40.0%
20.0%
0.0%
$0.0
FY 11 FY 12 FY 13 LTM 3Q14
EBITDA % Margin
Gaming Operations (66% of LTM (1)
Revenue):
13,167 gaming units installed
throughout North America as of June
30, 2014
Revenue is derived from revenue-sharing
arrangements or lease fees on
the installed fleet of units
Supplies the central determinant
system for ~17K video lottery terminals
("VLTs") in the state of NY
Machine Sales and Other (34% of LTM (1)
Revenue):
Broad portfolio of gaming machine
products sold to casino customers
Game themes focused on proprietary
content developed in-house
Approximately 3,900 slot machines
sold in the LTM period ended June 30,
2014
8. Global Cash Access and Multimedia Games
• ~$217 million in combined LTM 6/30/14 EBITDA (1)
• Significant earnings accretion
• Enhanced growth and margin profile
• Improved relevance in marketplace
• Complementary recurring revenue base
• Meaningful cost synergies
PRIVILEGED AND CONFIDENTIAL
(1) Includes ~$30 million in estimated run-rate cost synergies.
8
Materially Enhanced Shareholder Value
9. Combined Company Products and Services Overview
E-poker / E-tables: Fast paced, electronic table
games
NEWave: Suite of cutting-edge compliance software for
gaming operators
TournEvent: “Gotta have” slot tournament product with features including
streaming video, automated emcee and real-time leaderboards. Dominant
market share with more than 4,000 units in ~275 casinos
JackpotXchange: Automate jackpot payments and process jackpots in system and dispense
the proper amount for player payment
Premium Developed to look "licensed" without added cost and with more game flexibility
Games “High Rise”: Premium games combine video and traditional mechanical reel games.
CXC 4.0: Integrated full service solution for ticket redemption, bill breaking and cash access services. Using ATM 3-in-1-
rollover technology, CXC 4.0 offers maximum feature functionality and ease in delivering cash to the casino floor
PRIVILEGED AND CONFIDENTIAL
9
Class II Games: Played on servers, which must be physically located on Tribal Lands. Provide customers with a variety of linked interactive
slot games and back-office systems
10. Strong Visibility and Improved Profitability
Note: Data as of LTM period ended 6/30/14. MGAM revenue shown on a net basis.
(1) Combined statistic includes ~$30 million in estimated run-rate cost synergies. Excludes stock-based compensation.
PRIVILEGED AND CONFIDENTIAL
10
GCA MGAM Combined
Revenue $582 $218 $800
% recurring ~90% ~66% ~80%+
EBITDA $71 $116 $187
% margin 12% 53% 23%
Synergies – – $30
Pro Forma EBITDA (1) $71 $116 $217
% margin 27%
80%+ recurring revenue provides predictable and stable cash flow generation
11. Financially Compelling Transaction
PRIVILEGED AND CONFIDENTIAL
Accelerates scale and growth profile
11
~80%+ recurring revenue provides predictable and stable cash flow generation
Pro forma EBITDA(1) of $217 million for the trailing four quarter period ended June 30, 2014
Meaningful synergy potential
Potential to achieve 80% of estimated annual synergies during year 1
Combine field services and back office operations
SG&A
Significant shareholder value creation
Immediately accretive to EPS
Substantial cash flow generation provides material deleveraging opportunities
Expected ability to utilize GCA’s Net Operating Losses of $110 million over the next 3 years
Continued ability to use GCA’s tax deductible goodwill through 2019
.
(1) Includes ~$30 million in estimated run-rate cost synergies. Excludes stock-based compensation.
12. Acquisition Financing Overview
Fully Committed Debt Financing Provided by Bank of America Merrill Lynch and Deutsche Bank
(1) Includes $30mm of expected annual synergies. Excludes stock-based compensation and accretion of contract rights.
PRIVILEGED AND CONFIDENTIAL
12
Pro Forma Capitalization
($ in millions) Amount
New Revolver ($50mm) $--
New Term Loan B $800
New Senior Notes $400
Total Indebtedness $1,200
Combined Company EBITDA + Expected Synergies (1) $217
Total Debt / (Combined Company EBITDA + Expected Synergies (1)) 5.5x
13. PRIVILEGED AND CONFIDENTIAL
Transaction Highlights
13
Combines global leader in
cash access with the fastest
growing U.S. based slot
manufacturer
Significant cross selling
opportunity and potential to
leverage an established
sales force and global
customer base
Accelerates penetration into
key markets and
strengthens relationships
with gaming operators
Immediately accretive to
EPS and free cash flow at
Recurring revenue
combination provides
predictable and stable cash
flow generation
close