Supplier News
US – Everi enjoys record fourth quarter and record year
By Phil - 4 March 2020
A record fourth quarter with a 22 per cent revenue increase to $145.2m helped push Everi to record revenues in 2019 of $533.2m, marking an increase of 14 per cent.
Michael Rumbolz, President and Chief Executive Officer of Everi, said: “Our strong fourth quarter and full year 2019 operating results reflect the continued successful execution on our strategic initiatives that are driving ongoing momentum across the company. Our focus on delivering an expanding range of products that deliver great gaming entertainment experiences and casino operator efficiencies resulted in our 14th consecutive quarter of year-over-year growth in revenue and Adjusted EBITDA. Full year 2019 revenue rose 14 per cent to $533.2m, Adjusted EBITDA increased 10 per cent to a record $253.2mand Free Cash Flow improved 77 per cent to $43.8m.
“For 2019, our games business achieved a record level of unit sales, a record year-end installed base and a 15 per cent improvement in full-year daily win per unit,” he said. “Our FinTech business again delivered consistent year-over-year growth in cash access services transactions and revenue, equipment sales, and information and compliance product-related revenue. We also established a strong foundation to deliver growth from our entry into the player loyalty products and services market. Additionally, our efforts to build a transformative integrated digital gaming neighbourhood, which provides compelling value for both our customers and our customers’ patrons, continues to evolve and progress. We remain on track with further operating momentum in both businesses this year, as we expect consolidated revenues will grow at a high single-digit to low-double digit rate with Adjusted EBITDA forecast to be in a range of $272mto $282m.”
Caption: Everi launching The Mask and The Karate Kid at Pechanga Resort Casino
