Koin Mobile Seeks Dismissal of Antitrust Lawsuit Against Everi

The courtroom drama between Koin Mobile and Everi Holdings has taken a notable turn. The Nevada-based mobile payments firm, Koin Mobile, has recently petitioned a federal judge to dismiss their antitrust lawsuit against Everi Holdings, a significant player in the casino payments sector. According to Reuters, this move suggests a possible end to the contention over the competitive landscape of digital wallet technology in the casino market. The request for dismissal with prejudice indicates that the case won’t be refiled, although details about a potential settlement remain unclear.

The lawsuit, initially brought forth last year, accused Everi of leveraging its predominant position in casino cash-access systems to quash competition within the burgeoning digital payments realm. Specifically, Koin contended that Everi’s product, the CashClub Wallet, unfairly bundled exclusive long-term contracts, thereby marginalizing competitors such as Koin and hindering their market penetration.

The lawsuit, initially brought forth last year, accused Everi of leveraging its predominant position in casino cash-access systems to quash competition within the burgeoning digital payments realm. Specifically, Koin contended that Everi’s product, the CashClub Wallet, unfairly bundled exclusive long-term contracts, thereby marginalizing competitors such as Koin and hindering their market penetration. Seeking millions in damages for lost profits and missed opportunities, Koin’s legal battle aimed to expose practices they deemed anticompetitive. Everi, however, staunchly denied these allegations, maintaining that their actions were above board and that dynamic competition flourished in the casino digital wallet segment.