Supplier News
US – Everi ends ‘transitional’ year with three per cent increase in revenue
By Phil - 11 March 2024
Having just announced its merger with the gaming division and PlayDigital arms of IGT, Everi delivered what it said was a ‘transitional’ year with revenues increasing to $807.8m from $782.5m in 2022, reflecting a nine per cent increase in the FinTech segment revenues partially offset by a two per cent decline in its games segment revenues.
Fourth quarter revenues came in at $192m compared to $205.4m a year ago with the FinTech segment revenues rising three per cent to $94.9m, reflecting a 25 per cent increase in software and other revenues and a six per cent rise in financial access revenues, partially offset by lower hardware revenues due to strong kiosk sales in the prior year. The fourth quarter games segment revenues declined to $97.1m, as a result of declines in both gaming operations and gaming equipment and systems revenues reflecting near-term headwinds while transitioning to new family of cabinets and roll-out of new content.
“After several years of rapid growth, 2023 was a transitional year in our gaming business as we executed on our roadmap which included the introduction of four new cabinets and new content. Our FinTech business continues to perform well, adding new products and services to our suite of financial access, RegTech and loyalty solutions.
“We generated strong Free Cash Flow of $141.9 million after investing $67.6m in research and development and $145.1m in capital investments and returning $100m to shareholders through share repurchases.”
