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Euronet (EEFT) Announces Minority Stake in Marker Trax
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Euronet Worldwide, Inc. (EEFT - Free Report) recently inked a deal that allows it to hold a minority ownership interest in Marker Trax, LLC, which is a fintech firm based in Las Vegas. Marker Trax is a leader in the market and a gamechanger in the multibillion-dollar gaming industry with a digital casino marker system.
Marker Trax is active in U.S.-based commercial and tribal casinos, which are major segments in the North America gaming market (projected to generate more than $100 billion revenues in 2022). The Marker Trax system is used for slot machines, online wagering and more.
Last year, Euronet licensed its REN payments platform to Marker Trax for use in its cloud where it will offer transaction processing and many other features for a digital casino marker management system.
Per Technavio, the casino gaming market in the United States is expected to grow $11.42 billion, seeing a CAGR of 3.50% during the 2021-2025 forecast period.
Digging Deep
Being a cashless replacement for the traditional casino maker, Marker Trax offers casinos the tools required to manage marker underwriting and repayments. It enables to collect cash at the end of each game and makes sure that the money stays with the casino.
It also has a mobile application and website for patrons. With the COVID-19 pandemic pushing us to lead the new-normal lives, even gamers are seeking cashless gaming experiences. The contactless payment transition is here to stay even after the pandemic subsides because of the convenience it offers. This year, major large-scale operators are adding cashless options to their casino floors to meet demand for the cashless casino movement.
Marker Trax has a pipeline of activities with industry players, covering around 15% of the overall U.S. commercial and tribal casino market.
Euronet’s REN platform has been providing speed, data routing and scalability to meet evolving market demand for a while. This apart, REN powers patron identity verifications, underwriting, payments processing, settlement, reporting and more in the Marker Trax solution.
EEFT continues leveraging its REN platform as it goes beyond traditional financial services.
Earlier this month, Euronet completed the pending acquisition of the Piraeus Bank Merchant Acquiring (PBMA) business of Piraeus Bank (Bank) in Greece. With this transaction, EEFT expects to boost acquiring capabilities for the bank’s customers using its REN payments platform.
The contactless payments scenario opened multiple doors for Euronet. Digital payments provide faster and hassle-free transactions.
Some better-ranked stocks in the finance space are Cantaloupe Inc. (CTLP - Free Report) , WEX Inc. (WEX - Free Report) and Virtu Financial, Inc. (VIRT - Free Report) . While VIRT and CTLP sport a Zacks Rank #1 (Strong Buy), WEX carries a Zacks Rank #2 (Buy) at present.
Cantaloupe is a software and payments company, providing end-to-end technology solutions for the unattended retail market. CTLP came up with a trailing four-quarter surprise of 108.3%, on average.
WEX is a leading provider of payment processing and business solutions across a wide spectrum of sectors, including fleet, travel and healthcare. WEX delivered a trailing four-quarter surprise of 9.96%, on average. Over the past seven days, WEX has witnessed current-year earnings move 0.4% north.
Virtu Financial is a market-leading financial services firm that leverages cutting-edge technology to provide execution services and data plus analytics and connectivity products to its clients as well as deliver liquidity to the global markets. Earnings of VIRT managed to beat estimates in three of its trailing four quarters (missing the mark in one), the average beat being 24.76%. Over the past 60 days, VIRT has witnessed 2022 earnings estimates move 22.4% north.
Shares of WEX and VIRT have gained 28.1% and 23.3%, respectively, while the CTLP stock has lost 21.5% in the year-to-date period.
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Euronet (EEFT) Announces Minority Stake in Marker Trax
Euronet Worldwide, Inc. (EEFT - Free Report) recently inked a deal that allows it to hold a minority ownership interest in Marker Trax, LLC, which is a fintech firm based in Las Vegas. Marker Trax is a leader in the market and a gamechanger in the multibillion-dollar gaming industry with a digital casino marker system.
Marker Trax is active in U.S.-based commercial and tribal casinos, which are major segments in the North America gaming market (projected to generate more than $100 billion revenues in 2022). The Marker Trax system is used for slot machines, online wagering and more.
Last year, Euronet licensed its REN payments platform to Marker Trax for use in its cloud where it will offer transaction processing and many other features for a digital casino marker management system.
Per Technavio, the casino gaming market in the United States is expected to grow $11.42 billion, seeing a CAGR of 3.50% during the 2021-2025 forecast period.
Digging Deep
Being a cashless replacement for the traditional casino maker, Marker Trax offers casinos the tools required to manage marker underwriting and repayments. It enables to collect cash at the end of each game and makes sure that the money stays with the casino.
It also has a mobile application and website for patrons. With the COVID-19 pandemic pushing us to lead the new-normal lives, even gamers are seeking cashless gaming experiences. The contactless payment transition is here to stay even after the pandemic subsides because of the convenience it offers.
This year, major large-scale operators are adding cashless options to their casino floors to meet demand for the cashless casino movement.
Marker Trax has a pipeline of activities with industry players, covering around 15% of the overall U.S. commercial and tribal casino market.
Euronet’s REN platform has been providing speed, data routing and scalability to meet evolving market demand for a while. This apart, REN powers patron identity verifications, underwriting, payments processing, settlement, reporting and more in the Marker Trax solution.
EEFT continues leveraging its REN platform as it goes beyond traditional financial services.
Earlier this month, Euronet completed the pending acquisition of the Piraeus Bank Merchant Acquiring (PBMA) business of Piraeus Bank (Bank) in Greece. With this transaction, EEFT expects to boost acquiring capabilities for the bank’s customers using its REN payments platform.
The contactless payments scenario opened multiple doors for Euronet. Digital payments provide faster and hassle-free transactions.
EEFT currently has a Zacks Rank #3 (Hold). Year to date, Euronet’s shares have gained 8.9%, outperforming its industry's growth of 1.3%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the finance space are Cantaloupe Inc. (CTLP - Free Report) , WEX Inc. (WEX - Free Report) and Virtu Financial, Inc. (VIRT - Free Report) . While VIRT and CTLP sport a Zacks Rank #1 (Strong Buy), WEX carries a Zacks Rank #2 (Buy) at present.
Cantaloupe is a software and payments company, providing end-to-end technology solutions for the unattended retail market. CTLP came up with a trailing four-quarter surprise of 108.3%, on average.
WEX is a leading provider of payment processing and business solutions across a wide spectrum of sectors, including fleet, travel and healthcare. WEX delivered a trailing four-quarter surprise of 9.96%, on average. Over the past seven days, WEX has witnessed current-year earnings move 0.4% north.
Virtu Financial is a market-leading financial services firm that leverages cutting-edge technology to provide execution services and data plus analytics and connectivity products to its clients as well as deliver liquidity to the global markets. Earnings of VIRT managed to beat estimates in three of its trailing four quarters (missing the mark in one), the average beat being 24.76%. Over the past 60 days, VIRT has witnessed 2022 earnings estimates move 22.4% north.
Shares of WEX and VIRT have gained 28.1% and 23.3%, respectively, while the CTLP stock has lost 21.5% in the year-to-date period.