OKTO confirms acquisition of Flexia Payments

The provider of digital payments solutions and services, powering the leisure, entertainment and gaming industries, OKTO, announced a strategic acquisition that seeks to propel its expansion into the gaming sector across North America. The company confirmed on Tuesday the acquisition of the specialty fintech US company, Flexia Payments.

Completing the acquisition will see Flexia Payments' team join forces with the growing expert team at OKTO. Together, the teams will seek to expand cashless omnichannel payment solutions to more North American casinos and gaming venues.

Ultimately, the duo will seek to completely revolutionize customer experiences through full digitalization that encompasses non-gaming and gaming activities. A key advantage of Flexia is the ability to combine casino loyalty programs, along with casino and online betting accounts. This is achieved via a single digital payment solution called Flexia Prepaid Mastercard.

Scott Walker, Flexia's President and Co-founder, shared his excitement about the latest acquisition in a statement. "Our alignment with OKTO enables us to complete our mission to drive digital payment innovation in the world of online and land-based casino gaming, and in particular allows us to put our plans into action in North America," he explained.

Craig Libson, Flexia's CEO and Co-founder, shared the excitement of Walker and explained that the strategic collaboration with OKTO unlocks unique capabilities for the company. He predicted that through the acquisition, Flexia will push forward the implementation of omnichannel and cashless payment services across the gaming sector.

"The synergies between the two companies, our industry best platform and pipeline, blended with OKTO’s powerful payment technology and existing business line combine to form the foundation for success in the North American market and beyond," explained Libson in conclusion.

Theo Engelis, OKTO's VP North America, added: "This acquisition aims to place OKTO at the forefront of digital payment services provision in the North American land-based and online gaming markets via its omnichannel offering." Finally, he pointed out that the company is thrilled about this new collaboration which represents a major milestone for the two companies and said that it complements OKTO's strategy for growth of cashless solutions in Latin America and Europe.

The latest deal comes on the heels of the Global Gaming Expo (G2E), one of the most interesting events for the gambling industry that wrapped up recently. At the G2E, Flexia Payments successfully showcased its leading cashless system integrated with a wide range of partners such as Axes Information Management Systems, CasinoTrac and WinSystems, among others.

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