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Overview of Everi Holdings Inc
Everi Holdings Inc (EVRI) stands as a multifaceted provider of innovative casino gaming and financial technology solutions. With a foundation built on decades of industry expertise, the company was born from the merger of two well-established entities—one specializing in global cash access systems and the other in multimedia gaming solutions. This unique combination has positioned Everi as a transformative force on the casino floor, intensifying its commitment to delivering engaging and secure experiences for both gaming patrons and operator clientele.
Operating across two core segments, Everi Games and Everi FinTech, the company offers a diversified portfolio that spans both traditional and digital realms. In its Games division, Everi delivers state‐of‐the‐art gaming technology products and services. This includes a broad range of gaming machines, slot systems, and leased gaming equipment, each designed to captivate players with engaging themes and interactive gameplay. Industry keywords such as "casino gaming", "financial technology" and "interactive gaming" are integral pillars that define Everi's identity in the market.
Core Business Segments
Everi Games: The gaming segment focuses on developing, manufacturing, and supporting a wide array of gaming products including video slot machines, mechanical cabinets and custom interactive game content. The company’s robust product lineup is tailored to meet the evolving needs of land-based operators, iGaming platforms and bingo venues. By continually refreshing its portfolio with innovative themes and high-quality interfaces, Everi ensures that both new and existing customers have access to engaging entertainment options.
Everi FinTech: Complementing its gaming initiatives, Everi FinTech delivers cutting-edge financial access solutions that address the critical need for seamless and secure cash handling and electronic payment systems on the casino floor. Products in this segment include automated teller machines (ATMs), point-of-sale debit card systems and various financial software platforms designed to improve operational efficiencies and enhance regulatory compliance. These solutions facilitate faster transactions and contribute to improved patron experiences, a key driver for customer loyalty and operational excellence.
Strategic Industry Position and Value Proposition
Everi Holdings Inc has cemented its standing as a comprehensive technology partner in the gaming and entertainment sectors by integrating its dual-area expertise. The company is recognized for:
- Innovative Product Offerings: By consistently introducing new gaming themes, advanced hardware, and integrated digital solutions, Everi ensures that its clients can offer fresh and captivating experiences on both physical and digital casino platforms.
- Robust Technical Infrastructure: Its proprietary technology solutions streamline financial transactions and improve the operational efficiency of gaming floors, thereby reducing friction and enhancing overall service quality.
- Industry Expertise and Transparency: With years of experience in casino operations, Everi leverages deep technical know-how and an operating culture centered on respect and transparency to build trust with both operators and patrons.
- Integrated Solutions Approach: By providing a seamless blend of gaming content and financial technology, the company uniquely addresses the diverse needs of gaming venues, ensuring enhanced patron engagement and operational efficiency.
The company’s focus on delivering reliable, secure, and efficient gaming and FinTech solutions has driven it to become a critical partner for casinos, iGaming operators and hospitality venues. Its commitment to quality and continuous innovation is evident in its expansive product portfolio and strategic market positioning, with solutions that span from traditional land-based gaming to cutting-edge digital platforms.
Market Dynamics and Competitive Landscape
Everi operates in a competitive environment where technological advancements and evolving consumer preferences dictate market trends. Its strategic focus on both hardware-based gaming systems and digital financial transaction technologies allows the company to balance legacy systems with modern innovations. This dual focus is critical in addressing varied operational needs, ranging from enhancing in-casino experiences to facilitating seamless digital wagering on online platforms.
Key competitive advantages include a broad product offering, a history of dependable service within the gaming industry and a commitment to using advanced technology to solve operational challenges. Competitors must contend with the seamless integration of services and high-quality user interfaces that Everi delivers consistently, thereby setting benchmarks in both areas of gaming and financial technology.
Innovation and Integration of Digital Solutions
In addition to traditional gaming equipment, Everi provides digital solutions that extend the company’s reach into online and mobile ecosystems. This includes custom-branded online games, remote game servers and mobile-first applications that enhance player engagement in the iGaming and bingo markets. By integrating media-rich interactive content with secure transaction systems, Everi ensures a cohesive experience for players across multiple platforms. The company’s digital initiatives are further complemented by its investment in proprietary platforms that enable flexible product deployment and real-time content updates.
Operational Excellence and Customer Focus
Everi’s operational model centers on customized solutions tailored to the unique requirements of each client. Whether through advanced financial technology that speeds up cash access or interactive gaming hardware that attracts players, Everi’s approach is geared toward solving operational challenges and boosting engagement. The company maintains a rigorous focus on quality, regulatory compliance and constant innovation, all of which contribute to a reliable and secure gaming environment.
Owing to a culture that values transparency and respect, Everi has built long-standing relationships with casino operators and gaming venues globally, ensuring that its solutions are aligned with the operator’s goals and customer expectations. The integration of robust security protocols and regulatory safeguards also reinforces the trust that operators place in Everi’s offerings.
Industry-Specific Keywords and Technical Terminology
Early in the description, terms such as "casino gaming", "financial technology" and "interactive gaming" are used deliberately to underscore Everi’s domain expertise. Other technical terms such as "automated teller machines", "point-of-sale systems", "remote game servers" and "mobile-first applications" further illustrate the depth and breadth of Everi’s product portfolio and the technological sophistication of its offerings.
Frequently Asked Questions (FAQs)
Everi Holdings Inc addresses common investor questions with clarity and depth, covering its core business segments, market positioning and product innovations.
Everi Holdings reported a record first quarter revenue of $139.1 million, an increase from $123.8 million in 2019. Net income surged to $20.5 million or $0.21 per diluted share compared to $5.9 million in the same quarter of 2019. Adjusted EBITDA rose to $75.4 million, marking a significant improvement from prior years. The company credits strong demand in both Games and FinTech segments for the growth. Everi expects to exceed its 2019 full-year results in 2021, indicating optimism despite ongoing impacts from the pandemic.
Everi Holdings (NYSE:EVRI) will announce its 2021 Q1 results on May 5, 2021, after market close. A conference call and webcast will occur at 5:00 p.m. ET the same day. Investors can join the call by dialing (631) 891-4304, with a replay available until May 12, accessible at (412) 317-6671 (PIN: 10014357). The call will also be available live and archived on Everi's website under the 'Investors' section.
Everi aims to enhance the gaming experience by providing innovative game content, gaming machines, and financial technology solutions for casinos.
Everi Digital, part of Everi Holdings, has secured a new contract with the British Columbia Lottery Commission (BCLC) to offer its online slot content on PlayNow.com, making it the third supplier to provide games. This agreement enables Everi to expand its three-reel stepper offerings significantly, increasing available content by up to 10 times. Additionally, Everi will supply its successful video slots, enhancing its digital gaming footprint and catering to a growing online audience in British Columbia.
Everi Holdings Inc. has announced leadership changes with CEO Michael D. Rumbolz set to become Chairman of the Board following the retirement of E. Miles Kilburn. Kilburn has served as Chairman since 2008 and will step down at the 2021 Annual Meeting on May 19. Alongside Rumbolz's appointment, Ronald V. Congemi has been named Lead Independent Director. The Board aims to fill the vacancy with a director who enhances diversity while maintaining strong corporate governance and leadership succession planning, crucial for Everi's growth in the gaming industry.
Everi Holdings Inc. (NYSE: EVRI) has achieved significant recognition at the EKG Slot Awards, winning four top honors, an improvement from three last year. The awards highlight Everi's Empire Flex® cabinet as the Top Performing New Cabinet and its Cash Machine® game as the Top Performing Core Mechanical Reel Game, marking its second consecutive win. Additionally, Everi's Smokin Hot Stuff Wicked Wheel® was named Top Performing 3rd Party IP Branded Game. The company was also recognized as the Most Improved Supplier in the Core category, reflecting a commitment to innovation and player engagement.
Everi Holdings Inc. (NYSE: EVRI) announced the appointment of Kate C. Lowenhar-Fisher as Executive Vice President, Chief Legal Officer – General Counsel, effective March 22, 2021. She brings over 18 years of legal experience in the casino gaming industry, previously serving at Dickinson Wright PLLC. Her expertise will enhance Everi's legal and regulatory compliance, crucial for the company's growth and expansion. CEO Michael Rumbolz expressed confidence that Lowenhar-Fisher's background will be an asset amid Everi's ongoing evolution in the gaming sector.
Everi Holdings reported its fourth-quarter results for 2020, showing sequential improvements despite the COVID-19 pandemic. Revenues increased to $119.6 million from $112.1 million in Q3 2020, but down from $145.2 million in Q4 2019. The company achieved a net income of $1.1 million, up from a loss of $0.9 million in Q3. Adjusted EBITDA rose to $61.2 million. The installed base of premium gaming units grew by 26% year-over-year, reaching 6,478 units. Key developments included the launch of CashClub Wallet technology with two casino operators.
Everi Holdings (NYSE:EVRI) will release its 2020 fourth quarter and full year results on March 9, 2021, after market close. A conference call will take place at 5:00 p.m. ET that day, accessible via phone at (201) 689-8471. A replay will be available from 8:00 p.m. ET, with access via (412) 317-6671 using PIN 13716607, until March 16, 2021. Everi is a leading supplier of innovative gaming and financial technology solutions, aimed at transforming casino experiences and enhancing operational efficiencies.
Everi Holdings (NYSE: EVRI) has announced preliminary financial results for Q4 and the full year ended December 31, 2020. Despite ongoing challenges from COVID-19, Q4 revenues are expected to range between $117 million to $121 million, up from $112.1 million in Q3, but down from $145.2 million in Q4 2019. The company anticipates a net loss between $1.4 million and $0.3 million, with Adjusted EBITDA projected at $60 million to $62 million. Full-year revenue is anticipated between $381 million and $385 million, reflecting a significant decline compared to $533.2 million in 2019. Everi plans to leverage market conditions to reprice a $735.5 million First Lien Term Loan.
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