Everi continues growth trajectory in 19Q3

Everi Holdings logged its 13th consecutive quarter of year-on-year growth in 19Q3, attributed to the company’s product development initiatives and operating strategies.

The company is a single-source provider of gaming products, financial technology and loyalty solutions.

According to the company’s results filing, total revenue increase 12 percent in the quarter to a record $134.6 million, reflecting growth in its Games and Fintech businesses.

Net income increased 350 percent to $9.3 million, while adjusted EBITDA increased 11 percent to $64.7 million.

“Given the ongoing strength of our business and growth opportunities, we remain on track to generate full-year results in line with our financial targets.” said Michael Rumbolz, President and CEO. 

The company has also announced the appointment of Atul Bali to the Board effective November 4, 2019. 

“We are delighted to welcome Atul to Everi and believe his distinguished record of board service, leadership and entrepreneurial experience make him an ideal addition to the Company’s Board of Directors,” said E. Miles Kilburn, Chairman of the Board of Everi.  “Atul’s wealth of experience in online gaming and global sports betting, as well as his tenure in lottery and payments businesses, will serve the Company well. We look forward to benefiting from his counsel and expertise, as we continue to focus on the growth opportunities and executing our strategies that will take Everi to the next level of performance for all our stakeholders.”

SHARE
Previous articleWidus signs lease for PHP12b Clark resort
Next articleCaesars Q3 results driven by Las Vegas ops

Related Articles

Bonusing and loyalty strategy key to mass-market retention

With Macau continuing to haemorrhage VIP gamblers, there has never been a greater onus on operators in the special administrative region to latch on to the relative predictability afforded by the premium and mass markets.
Everi’s CashClub integrates old and new payment methods

Everi’s CashClub integrates old and new payment methods

Despite a seemingly rapid shift towards digital payments methods outside of the casino industry, cash is not going anywhere. 

Everi swings to net loss of $13.5 million in 20Q1

Everi Holdings Inc swung to a net loss of $13.5 million in the three months ended March 31, 2020, due mainly to March casino closures caused by the coronavirus pandemic.  In 19Q1, the company reported a net income of $5.9 million.  First-quarter revenue fell 8.5 percent year-on-year to $113.3 million, down from $123.8 million in […]

Everi announces executive management changes

Everi Holdings has announced a number of executive management changes that are set to come to effect in April 2020.  According to a press release from Everi Holdings, Mark F. Labay has been appointed as executive vice president, chief financial officer, and treasurer of the company. Mr. Labay will succeed Randy L. Taylor, who has […]

Everi posts record revenue in 2019

Everi Holdings achieved record revenues in the 2019 calendar year, due to growth across its games, FinTech and play loyalty businesses. Said revenue rose 14 percent to $533.2 million. The result also brought net income to increase 33 percent year-on-year, reaching $16.5 million. Michael Rumbolz, President and Chief Executive Officer of Everi, said the strong […]