Everi posts $189.3m in revenue for Q1 2024, operating income down
The company said it hopes to complete its merger with IGT early next year.
Everi Holdings has published its Q1 financial and business results for 2024. Company revenue for the quarter reached more than $189m.
Operating income in Q1 was $24.8m, nearly half the total when compared to operating income from one year ago. Net income reached $4.6m during the quarter.
Adjusted EBITDA fell by more than $10m when compared to Q1 2023 and reached close to $80.3m.
Company CEO Randy Taylor discussed Everi’s progress during the quarter by saying, “During the first quarter our games segment continued to make progress in our transition to our newest family of cabinets and new and innovative content to support these cabinets. While this transition has been slower than anticipated, we are gaining momentum with these efforts and expect our progress will continue to accelerate throughout the back half of the year.
“Starting in the second quarter we expect this momentum to translate into improvements in sequential quarterly unit sales. We will continue to support our portfolio of game products following the closing of the proposed merger.
Taylor went on to provide an update on the company’s upcoming merger acquisition deal with IGT Global.
He commented, “We are making progress on the steps necessary to complete our proposed merger with IGT’s Global Gaming and PlayDigital businesses later this year or in early 2025. We are excited about the significant growth opportunities we believe this combination will unlock.
“This transaction will bring together a comprehensive and complementary product set focused on our customers and their diverse needs which we believe will deliver substantial long-term value to our shareholders.”
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