Everi Holdings, formerly known as Global Cash Access and Multimedia Games, rang the opening bell at the New York Stock Exchange under its new name on August 24. T
he name change and new branding comes in the wake of GCA’s $1.2 billion purchase of slot machine maker Multimedia Games last year. “We are redefining our organization following our successful transition to a full-service casino gaming equipment and payments solutions provider,” President and CEO Ram Chary said.
While the company was celebrating, however, stock traders were pulling their hair out. Within minutes of the sounding of the bell, the NYSE index plunged by more than 1,000 points. The move, however, had nothing to do with Everi, but everything to do with the steep decline in the Chinese stock market overnight.
The index recovered to end the day less than 600 pointes down, but later in the week, even made that up with a jump of 600 points, so the folks at Everi were breathing easier.
