The decision to pause proceedings follows a settlement conference on 28 January, where Koin Mobile and Everi, alongside their legal teams, discussed the possibility of resolving the dispute without further court intervention.
The conference, led by retired Nevada Supreme Court Justice Hardesty, initially focused on an undisclosed “narrow legal issue”. However, discussions soon broadened to include settlement negotiations for both the federal lawsuit and the related state court case.
Judge Anne R. Traum approved the stay all litigation activities, including discovery and motion filings, are now on hold.
Everi’s Motion to Dismiss has been denied without prejudice, allowing the company to refile if settlement efforts fail.
Both parties must submit a t status report at the end of the 90-day period, outlining whether they have reached an agreement or whether the lawsuit should proceed.
Either side retains the right to request an early termination of the stay, but for now, the focus shifts from the courtroom to the negotiation table.
Allegations of Everi monopoly tactics
Koin Mobile, a Nevada-based digital wallet provider, filed the lawsuit in April 2024, accusing Everi Holdings and its subsidiary, Everi Payments, of violating anti-trust laws.
The complaint alleged that Everi, which controls an estimated 75-90% of cash-access transactions in US casinos, has used its dominance over cash services to block competition in the emerging digital wallet market.At the core of the lawsuit are Everi’s long-term, exclusive contracts with casinos, which allegedly force operators to use Everi’s CashClub Wallet while restricting them from adopting competing digital payment solutions like Koin Wallet.
Koin argued that Everi has coerced casinos into rejecting its services, effectively shutting it out of the market.
One example cited in the lawsuit is Baldini’s Sports Casino in Nevada. In 2023, Koin Mobile and Marker Trax, a digital casino credit provider, partnered with Baldini’s to introduce a cashless wagering system using Koin Wallet.
However, Everi allegedly intervened, invoking exclusivity clauses in its contract with Baldini’s to demand that the casino terminate its agreement with Koin and Marker Trax.
The same pattern allegedly played out with Eureka Casino in Las Vegas, where Everi blocked Koin Wallet’s adoption by claiming contractual control over all cash and quasi-cash payment solutions.
Similar actions were reportedly taken against Pavilion Payments, another digital wallet provider, to prevent competition in casino payment processing.
If completed, Koin Mobile argued, the merger would cement Everi’s control over digital payment infrastructure, eliminating competitive alternatives for casinos and patrons.
NEXT.io has reached out to Everi Holdings for comment.
