Welcome to our dedicated page for Everi Holdings news (Ticker: EVRI), a resource for investors and traders seeking the latest updates and insights on Everi Holdings stock.
Everi Holdings Inc. (NYSE: EVRI), founded in 2015 from the merger of Global Cash Access and Multimedia Games, is a leading provider of entertainment and technology solutions for the casino, interactive, and gaming industries. The company's mission is to transform the casino floor experience for both patrons and operators through innovative and creative approaches.
Business Segments:
- Games: Offers gaming technology products including gaming machines, slot machines, leased gaming equipment, and more.
- Financial Technology Solutions (FinTech): Provides financial technology products that facilitate cash access at gaming facilities through ATMs, point of sale debit card purchases, and additional services.
Recent Achievements:
Everi recently announced the strategic merger with IGT's Global Gaming and PlayDigital businesses to create a comprehensive gaming and fintech enterprise. This merger is expected to drive significant long-term value for shareholders, enhance product offerings, and expand the company's global footprint.
Financial Performance:
For the quarter ended December 31, 2023, Everi reported revenues of $192.0 million, with recurring revenues increasing by 3%. Operating income was impacted by higher operating expenses due to recent acquisitions and an impairment charge related to customer relationship assets.
Products and Innovations:
Everi continues to introduce new gaming cabinets supported by innovative game themes, aiming to diversify its portfolio. In the FinTech segment, Everi is expanding its Digital Neighborhood to enhance mobile gaming and wallet solutions, targeting both gaming and non-gaming venues.
Leadership and Vision:
Michael Rumbolz, Everi's Executive Chairman, has recently been elected Chairman of the American Gaming Association, reflecting the company's strong leadership and industry influence. CEO Randy Taylor highlights ongoing investments in R&D and positive feedback for new product introductions as key to driving future growth.
Join Everi on social media for the latest updates and insights:
- Twitter: @everi_inc
- Instagram: everi_inc
- Facebook: EveriHoldingsInc
Everi Holdings Inc. (NYSE: EVRI) will present its comprehensive suite of FinTech solutions, termed the "Digital Neighborhood," at the Global Gaming Expo (G2E) 2021 from October 4-7. The offerings include the CashClub Wallet, a cashless payment solution available on over 26,000 electronic gaming devices, and Jackpot Xpress, an intuitive jackpot management system. With a focus on enhancing operational efficiency and customer experience, Everi aims to solidify its position as a leading provider in the gaming industry's FinTech space.
Everi Digital, the online gaming division of Everi Holdings, has partnered with BetMGM to introduce the custom-themed game Borgata 777 Respin. This title is accessible via BetMGM Casino and Borgata Casino in New Jersey and Pennsylvania. It features a re-spin bonus and various multipliers, enhancing player engagement. David Lucchese, Everi's EVP, emphasized the collaboration's aim to deliver vibrant gaming experiences. This marks Everi's first partnership game with BetMGM, adding to their digital content portfolio.
Acres Manufacturing Company announced that its Foundation™ casino management system is facilitating cashless gaming at Penn National Gaming's new Hollywood Casino York in Pennsylvania. Following prior installations, Foundation™ will further be deployed at additional Penn National casinos as regulatory approvals are obtained. The system integrates with Penn National's mychoice wallet, powered by Everi Holdings' CashClub Wallet, enabling secure transactions for players on the casino floor. The technology aims to enhance player experience through real-time behavior data and seamless cashless gaming.
Everi Holdings has announced the launch of its CashClub Wallet® technology at Penn National Gaming's Hollywood Casino York in Pennsylvania. This digital wallet enables cashless transactions, allowing guests to deposit funds via debit or credit cards and access them directly at gaming machines. The partnership includes plans for broader implementation across Penn National's properties pending regulatory approval. The technology aims to enhance guest convenience and operational efficiency while integrating with Penn National's mychoice loyalty program.
Everi Holdings (NYSE: EVRI) has partnered with Konami Gaming to integrate its digital CashClub Wallet with Konami's SYNKROS casino management system. This collaboration aims to enhance cashless transactions for casino operators, providing reliable funding solutions and improved player experiences. The integration supports a seamless cashless environment, enabling operators to manage payments and funding efficiently across various gaming and non-gaming operations.
Everi Holdings Inc. (NYSE: EVRI) reported record financial results for Q2 2021, showing a 33% revenue increase to $172.6 million compared to Q2 2019. Net income soared 560% to $36.2 million, with Adjusted EBITDA rising 44% to $92.5 million. The company's Free Cash Flow grew 462% to $39.2 million. Following successful refinancing, total debt is now $1.0 billion, reducing annual interest costs by $23 million. The robust performance is attributed to strong demand in Games and FinTech segments, alongside a growing percentage of recurring revenues.
Everi Holdings Inc. (NYSE: EVRI) announced a successful refinancing of its outstanding debt totaling $1.0 billion. This includes a $600 million senior secured term loan due 2028, a $125 million undrawn senior secured revolving credit facility due 2026, and $400 million in senior unsecured notes due 2029. The refinancing reduces annual cash borrowing costs by approximately $23 million compared to June 30, 2021. The company emphasized improved balance sheet strength and financial flexibility, aiming for Free Cash Flow generation with a long-term net debt leverage target of 2.5-to-3.0 times Adjusted EBITDA.
Aristocrat Technologies has partnered with Everi Holdings to integrate Oasis 360™ with Everi's CashClub Wallet®. This collaboration enhances cashless and contactless payment solutions for casino operators, improving customer experience with seamless funding options for electronic gaming. Oasis 360 is recognized for its comprehensive casino management technology, which supports various functions including mobile and table game management. This integration aims to streamline operations and enhance user engagement in the gaming industry.
Everi Holdings (NYSE: EVRI) has launched the JACK Mobile Wallet, a cashless mobile wallet powered by its CashClub Wallet technology, at JACK Entertainment properties in Northeast Ohio. The first phase is live at JACK Thistledown Racino, featuring remote enrollment and cashless funding through various options. Future phases will expand functionality, subject to regulatory approval. This initiative aims to enhance player experiences by offering cashless transactions and integrating with JACK's loyalty program, marking a significant step in digital wallet solutions in the casino industry.
Everi Holdings Inc. (NYSE: EVRI) will unveil its latest banked product, Flex Fusion™, at the 2021 Indian Gaming Tradeshow & Convention. This launch features innovative game themes, including Fortune Garden® and high-energy series like Cashnado™ and MonsterVerse™. Everi highlights its financial technology advancements, including CashClub Wallet® and Jackpot Xpress®, to enhance player experiences. The company emphasizes its commitment to tribal gaming partners, showcasing its broad product portfolio aimed at improving operational efficiencies and regulatory compliance.
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