Everi Holdings posts record Q2 revenue
The company’s revenue reached $197.2m in the second quarter, an increase of 14 per cent.
US.- Everi Holdings’ second quarter revenue reached $197.2m, up 14 per cent year-on-year. It repoted a 37 per cent increase in sales of gaming machines and FinTech hardware. Income before income tax increased 16 per cent to a record $42.3m, up from $36.6m in 2021.
Randy Taylor, chief executive officer of Everi, said: “Our strong operating momentum continued in the second quarter, as we delivered all-time quarterly record revenues, income before income tax, Adjusted EBITDA and Free Cash Flow.
“These record financial results were driven by another consecutive quarter of record recurring revenues for both our Games and FinTech businesses despite the very challenging year-over-year comparison for these operations, as last year’s results included the significant benefit from casino reopening activities and financial stimulus payments provided to consumers.
“Our second quarter Games segment results include our highest-ever quarterly level of gaming machines sold, which increased 40 per cent to 1,957 units; and the 13th consecutive quarterly sequential increase in our installed base of gaming operations units.
“Our ongoing investments in the development of differentiated cabinets and expansion of our games portfolio continues to drive increases in our installed base, strong Daily Win per Unit, and growth in our ship share of units sold.”
Taylor said the company’s FinTech segment was achieving success, also generating record revenues, operating income and adjusted EBITDA for a third consecutive quarter. Performance was driven by increased revenues from financial access services, which included more than $10bn of funding delivered to the customers’ casino floors for the second consecutive quarter, a record number of kiosk sales, and ongoing organic growth of its Loyalty and RegTech solutions.
Everi Holdings signs deal with Mississippi’s Scarlet Pearl Casino Resort
Everi Holdings announced in April that its subsidiary, Everi Payments, was live with a solution for the liquidity of crypto currencies, B4U Financial, at the Scarlet Pearl Casino Resort on Mississippi’s Gulf Coast.
The B4U Financial crypto currency solution allows customers to convert digital currency into cash. Additional integration capabilities let casino operators’ track the disbursement of cash through the B4U API in real time. Scarlet Pearl has had a partnership with Everi dating back to the casino’s opening in 2015, with the installation of loyalty products and services and electronic gaming machines.
