Euronet Worldwide acquires minority ownership in Vegas company Marker Trax
The partnership will give Euronet a leg up in the North American market.
Euronet Worldwide has partnered with Marker Trax, a Las Vegas-based fintech company that is active in both tribal and commercial US-based casinos. The two companies have signed a definitive agreement that will give Euronet minority ownership in Marker Trax.
Marker Trax was founded in 2018 as a cashless, digital alternative to a casino marker. Its officials said they have signed contracts or are negotiating with more than 150 casinos nationwide.
The North America gaming market is expected to generate over $100bn in revenue this year from activities integrated with Marker Trax systems, including online wagering, table games, slot machines and sports gambling.
“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 Chief Strategy Office Gary Larkin said: “Despite the enormous demand for this product and extremely large size of the market, our confidence to meet our customers’ needs has never been higher because of the speed and scalability the REN payments platform provides to the Marker Trax solution.”
He finished by commenting: “In addition to performance and reliability, our innovations in recent months such as our enhanced operator dashboard are providing casino operators with a new level of operational control through detailed visibility into player activity, regulatory compliance and other key metrics at the property level. Altogether, REN and the Marker Trax solution are delivering the fast and frictionless user experience customers have come to expect as they adopt cashless transactions in their daily lives.”
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