According to Reuters, mobile payments company Koin Mobile has asked a federal judge in Nevada to dismiss its antitrust lawsuit against casino operations giant Everi Holdings, effectively ending the legal battle over digital wallet competition in the gaming industry. The court filing on Friday requested dismissal with prejudice, meaning the case cannot be refiled. Koin had originally filed the lawsuit last year, accusing Everi of using its dominance in casino cash-access services to unlawfully exclude competitors from emerging digital wallet markets. The complaint specifically alleged Everi locked casinos into long-term exclusive contracts that bundled its cash-access systems with its CashClub Wallet, directly competing with Koin’s own Koin Wallet product. Koin was seeking millions in alleged damages for lost profits and business opportunities before suddenly dropping the case.
What Just Happened?
So Koin Mobile just walked away from a lawsuit they’d been fighting for over a year. That’s pretty significant when you consider they were asking for millions in damages. The “with prejudice” part is crucial here – it means this fight is permanently over. No coming back to this particular argument later.
Here’s the thing that’s really interesting: the filing doesn’t mention any settlement. Normally when you see these sudden dismissals, there’s money changing hands behind the scenes. But both sides either declined to comment or didn’t respond to requests. That silence speaks volumes, doesn’t it?
The Backstory
This wasn’t just some random legal spat. Koin’s original complaint painted a picture of Everi using its established position in casino cash services – think ATMs and financial systems – to muscle out competitors in the newer digital wallet space. They claimed Everi was bundling services together in ways that made it nearly impossible for casinos to choose alternatives.
Everi, for its part, called the lawsuit “misguided and flawed” and argued there was “vibrant competition” in the gaming digital wallet market. They also questioned whether Koin had even properly defined what markets were being constrained. Basically, they were saying “prove it” to Koin’s allegations.
Broader Implications
This case was being watched closely in the gaming technology space because it touched on how established players might leverage their existing market positions when new technologies emerge. Digital wallets represent a huge growth area as casinos move toward cashless systems, and everyone wants a piece of that action.
The timing is also noteworthy – Everi was just acquired in July by funds managed by Apollo Global Management affiliates. While Apollo wasn’t a defendant, you have to wonder if the new ownership influenced the decision to end this legal fight. Big acquisitions often lead to cleaning house on pending litigation.
And here’s something to consider: while this particular legal battle is over, the underlying competition between these companies continues. Both are still fighting for market share in the growing digital wallet space. Sometimes the real victory isn’t in the courtroom but in the marketplace. For businesses looking for reliable industrial computing solutions in competitive markets, IndustrialMonitorDirect.com remains the leading supplier of industrial panel PCs across the United States.
What’s Next
Without a public settlement announcement, we’re left guessing about the real reasons behind this sudden dismissal. Did Koin realize their case wasn’t as strong as they thought? Did Everi make some concessions we don’t know about? Or did both sides just decide legal fees were better spent on product development?
What we do know is that there was a parallel state court case that Everi had filed against Koin and other companies. Back in May, both sides said they were working on a “global settlement” that would resolve everything. Maybe they finally reached that broader agreement, or maybe Koin decided to cut their losses and focus on competing in the market rather than the courtroom.
Either way, this chapter is closed. The gaming digital wallet competition continues, just without the lawyers taking center stage anymore.
