LAS VEGAS (Oct. 3) – On Sept. 25, a federal judge presiding over Koin Mobile, LLC’s antitrust action against Everi Holdings Inc. and Everi Payments Inc. denied Everi’s request to block discovery based on Everi’s still-pending motion to dismiss Koin’s claims.
U.S. District Court Magistrate Judge Craig S. Denney found that, on preliminary review, Koin’s allegations make out plausible claims 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. Koin President Gary Larkin said, “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.”
Everi had argued that Koin’s investigation should halt because Koin brought what it called baseless claims predicated on deficient antitrust theories. Judge Denney disagreed, holding that Koin’s allegations likely made out claims of anticompetitive conduct in the markets for digital payment solutions. Larkin added, “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. 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.”
The Sept. 25 ruling follows Koin’s victory last month in a Nevada state court, where it won a pause, legally referred to as a “stay,” of Everi’s parallel state litigation against Koin. The state court agreed that Koin’s federal action takes precedence.
The federal action is Koin Mobile, LLC v. Everi Holdings Inc. and Everi Payments Inc., No. 3:24‑cv-00178-ART-CSD (D. Nev.). Everi’s stayed state lawsuit against Koin and two other companies – Koin’s digital credit affiliate, Marker Trax, LLC, and the companies’ casino customer, Baldini’s, LLC – is Everi Payments Inc. v. Strategic Gaming Management, LLC, Case No. CV23-01538 (2d J.D. Nev.).
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About Koin
Koin is a gaming resort solution that utilizes dynamic, fully integrated financial wallet features to offer customers access to their funds anywhere, anytime. Developed by company founder Gary Ellis in 2021, Koin provides a robust roster of digital funding options, including bank ACH transfer, debit cards, real-time payments, international transfers, and Marker Trax digital credit. It offers resort operators a fully integrated cage, table games, and retail management system. With casino and resort payment systems reducing merchant processing charges for all casino and resort retail payments and cash-out activities, and functionality making it easier for customers to access and utilize their funds, Koin is reimagining the gaming resort experience for the digital age. For more information, visit koinpayments.com.
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