Everi reports Q4 revenue of $119m, down 18% y-o-y

Everi Holdings Inc. reported fourth quarter 2020 revenue of $119m, a decline of 18% y-o-y but an improvement from the prior quarter.

Revenue rose slightly from $112m in Q3. Net income for the three months ending on Dec. 31, 2020 was $1.1m, compared to a loss of $4.1m in Q4 2019.

Adjusted EBITDA was $61m, also up from Q3 2020.

“The quarterly sequential increase in revenues, net income and Adjusted EBITDA achieved in the fourth quarter reflects the strength and balance of our businesses, in particular our significant percentage of higher-margin recurring revenues, and our track record of consistent operating execution,” said Everi CEO Michael Rumbolz.

Rumbolz said the improvements were a reflection of advances in the company’s Games and FinTech product portfolios.

Games segment revenue for Q4 was $65m, compared to $77m a year prior, while FinTech revenue was $55m, down from $68m over the same period a year prior.

“A key factor behind the momentum in our Games segment has been the quarterly sequential growth throughout 2020 in the total installed base of our gaming operations, as well as the increases in daily win per unit of our active units,” Rumbolz said. “In particular, the 26% year-over-year increase in premium units reflects the popularity of our games, which is driving active unit performance at higher levels compared to the pre-pandemic period.”

Ezra Amacher

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