Mobile Payments Firm Drops Antitrust Lawsuit Against Casino Giant

On November 10, 2025, mobile payments company Koin Mobile took an unexpected step by requesting a federal judge in Nevada to dismiss its antitrust lawsuit against casino operations giant Everi Holdings. The lawsuit, filed last year, had accused Everi of violating antitrust law by leveraging its dominance in casino cash-access services to unlawfully exclude competitors like Koin from the emerging digital wallet market.

Koin's court filing asked for the lawsuit to be dismissed with prejudice, meaning it cannot be refiled. The filing did not indicate whether a settlement had been reached between the two companies, and neither side provided any immediate comment on the matter.

Everi, which provides financial services, ATMs, and slot machines to casinos, was acquired in July 2025 by funds managed by affiliates of asset manager Apollo Global Management. The company had previously denied any wrongdoing in the lawsuit, and Apollo is not a defendant.

Koin's lawsuit had sought millions of dollars in alleged damages for lost profits and business opportunities, claiming that Everi had locked casinos into long-term, exclusive contracts that bundled its cash-access systems with its own CashClub Wallet, impeding competition from rivals like Koin's Koin Wallet. However, Everi had argued that Koin had failed to plausibly define the markets being constrained and that there was "vibrant competition" for gaming digital wallets.