Federal judge approves Koin’s antitrust investigation of Everi
Everi had argued that Koin’s investigation should halt due to ‘baseless claims predicated on deficient antitrust theories.’
- Koin claims that Everi is hindering competition in the cashless gaming solutions market
- Judge Craig Denney ruled that Koin’s allegations likely make out claims of anticompetitive conduct
On September 25, US District Court Magistrate Judge Craig Denney denied Everi Holdings’ request to block discovery in its pending antitrust investigation filed by Koin Mobile. Everi had filed the still-pending motion in an effort to halt Koin’s investigation due to “baseless claims predicated on deficient antitrust theories.”
Judge Denney disagreed, believing that Koin’s allegations likely make out claims of anticompetitive conduct in the markets for digital payment solutions.
Koin’s allegations claim that Everi is using its contracts to tie customers exclusively to Everi’s digital wallet and hindering competition in the markets for cashless gaming solutions.
“We appreciate the federal court’s careful work here. Judge Denney considered a half-dozen briefs and held lengthy oral arguments on the issue, and we’re gratified to move forward with our investigation of Everi’s conduct,” Koin President Gary Larkin said.
Good to know: Everi partnered with Crane Payment Innovations on October 3 to integrate CPI’s Betbridge cashless solution with Everi’s CashClub Wallet
The September 25th ruling follows Koin’s victory last month in a Nevada state court, where it won a “stay” of Everi’s parallel state litigation against Koin.
The state court agreed that Koin’s federal action takes precedence.
“Our goal is and always has been to level the playing field for digital payment providers: Koin, Everi and the rest. Everyone benefits from competition,” Larkin added.
“It’s the American way. This ruling is another step forward in what we know will be a long fight, but it’s worth it.”
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