Greece-based OKTO acquires U.S.-based Flexia Payments

October 24, 2023 2:54 PM
  • Buck Wargo, CDC Gaming Reports
October 24, 2023 2:54 PM
  • Buck Wargo, CDC Gaming Reports
  • Canada
  • United States
  • Greece

On Tuesday, OKTO announced the acquisition of Flexia Payments, a specialty fintech company, as part of a strategic move to accelerate the Greece-headquartered company’s expansion into North America gaming markets and enhance its cashless and omnichannel payment offerings.

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Executives said the deal followed Flexia’s successful show at the Global Gaming Expo, where the company showcased its innovative cashless system and its integration with an expanding suite of partners, including WinSystems, Axes Information Management Systems, and CasinoTrac.

With the completion of the acquisition, the Flexia team joins forces with OKTO to deliver further cashless and omnichannel payment solutions to North American casinos and gaming venues, enabling them to usher full digitalization of the customer experience to gaming and non-gaming activities, company executives said.

In addition, Flexia is well positioned to combine casino and online wagering accounts and casino loyalty programs, all connected to a Flexia Prepaid Mastercard, into a single digital-payment system.

“This acquisition aims to place OKTO at the forefront of digital-payment services in the North American land-based and online gaming markets via its omnichannel offering,” said Theo Engelis, vice president North America of OKTO. “This partnership marks a significant enhancement for both companies, and aligns with our ongoing cashless strategy in Europe and Latin America.”

Craig Libson, CEO and co-founder of Flexia, said the partnership with OKTO grants the company access to significant resources and capabilities, accelerating the deployment of advanced cashless and omnichannel payment services to the ever-expanding gaming market.

“The synergies between the two companies, 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,” Lisbon said. “This will create arguably the largest international footprint of cashless gaming fintech and positions Flexia to become a significant player in the North American market.”

The 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.” added Scott Walker, president and co-founder of Flexia.