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Digital Wallet Dispute in Casino Industry Quietly Comes to an End

By  |  November 10, 2025

Mobile payments company Koin Mobile has formally asked a federal judge in Nevada to dismiss its antitrust lawsuit against casino financial services giant Everi Holdings, bringing an end to a legal dispute that centered on competition in the digital wallet market for casinos, according to Reuters.

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    In a court filing submitted on Friday, Koin requested that the lawsuit be dismissed with prejudice, a legal term indicating the case cannot be refiled. The filing did not specify whether the companies had reached a settlement. As noted by Reuters, both parties either declined to comment or did not immediately respond to inquiries about the matter.

    The lawsuit, originally filed last year, accused Everi of leveraging its dominant position in casino cash-access systems to suppress competition in the growing market for digital payment tools. Koin’s flagship product, the Koin Wallet, directly competes with Everi’s CashClub Wallet. According to Reuters, Koin alleged that Everi engaged in anti-competitive practices by binding casinos to exclusive, long-term contracts that bundled cash-access services with its digital wallet system, allegedly preventing new entrants like Koin from gaining market traction.

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    Koin had sought millions of dollars in damages, claiming that Everi’s actions led to lost profits and missed business opportunities. Everi, for its part, denied any wrongdoing and argued that Koin’s claims lacked merit. In a July filing, Everi asked the court to throw out the case, asserting that Koin failed to properly define the markets allegedly affected by its conduct. Everi also contended there was “vibrant competition” within the digital wallet space in the gaming industry, per Reuters.

    Everi Holdings, a prominent supplier of financial technology, ATMs, and slot machines for casinos, was acquired in July by funds managed by affiliates of Apollo Global Management, though Apollo itself was not named as a defendant in the case.

    Earlier this year, both companies told the court that they were working toward a potential global settlement that would resolve not only the federal case but also a related state court dispute involving Koin and other firms.

    The case was filed as Koin Mobile LLC v. Everi Holdings Inc. and Everi Payments Inc., U.S. District Court for the District of Nevada, No. 3:24-cv-00178.

    Legal representation for Koin included Robert Ryan and Paul Swanson of Holland & Hart, while Everi was represented by Samuel Liversidge and Rachel Brass of Gibson, Dunn & Crutcher, along with John Desmond of Dickinson Wright, according to Reuters.

    Source: Reuters