Gaming supplier Everi has posted a strong start to the first quarter of 2021, with first quarter record revenue and all-time quarterly record net income, adjusted EBITDA and free cash flow.
“The substantial improvement in our operating results demonstrates the significant ongoing demand for our products in both our Games and FinTech segments. Our success in developing player-popular slot products and the industry attractiveness of our trusted financial and loyalty products are a direct reflection of our continued investment in the creation of new and enhanced products and services, as well as the talent and dedication of our entire Everi Team,” commented Michael Rumbolz, Chief Executive Officer of Everi.
“Our Games segment momentum continues to reflect ongoing growth in our installed base of gaming operations units, in particular the consistent increases in placements of our higher-earning premium units that are helping to drive higher daily win per unit. We also believe that the ship share of our for-sale gaming units continues to expand. Our FinTech segment continues to benefit from our established leading share in the gaming FinTech market as well as strong demand for our newer loyalty products and services together with a high-level of interest in our cashless digital wallet solution. A key driver of the growth in our Games and FinTech business segments is our high-margin, recurring revenue streams, which we expect will help sustain our near- and long-term growth as the casino industry continues to recover.”
Rumbolz said that the strong start to Q1 has continued onto the second quarter, meaning the company is regaining its pre-pandemic momentum.
The chief executive said he expects 2021 full year results to exceed the levels achieved in 2019.