Everi says it’s expanding use of digital wallet in earnings report

Everi Holdings Inc.’s CEO said the company performed “better than expected” during the third quarter with a $900,000 loss but $112.1 million in revenue.

Revenue was up from the $38.7 million reported in the prior quarter but down 16.7 percent year-over-year.

The Las Vegas-based company, which provides land-based and digital casino gaming products, financial technology and player loyalty solutions, said the results were due to improvements in the games and financial technology segments.

CEO Michael Rombolz also credited strong performance among the company’s tribal and regional casino customers.

Two of the company’s clients — “well-known, tribal casino operators” — are set to launch Everi’s digital, white-labeled CashClub Wallet later this month. Rombolz said the wallet combines a loyalty app with a digital wallet and allows users to access both funds and rewards program benefits.

Looking forward, President and Chief Operating Officer Randy Taylor said the company has faced challenges due to the pandemic, but he was “guardedly optimistic” for the company’s performance down the road.

“The road has smoothed out slightly,” he said.

Company shares closed up 4.9 percent to $9.03 on Monday.

Contact Bailey Schulz at [email protected] Follow @bailey_schulz on Twitter.

Everi by the numbers

Third-quarter revenue and earnings for Everi Holdings (NYSE: EVRI).

■ Revenue

2020 $112.1 million

2019 $134.6 million

Change ▼ 16.7%

■ Net income/(loss)

2020 ($900,000)

2019 $9.3 million

■ Earnings/(loss) per share

2020 ($0.01)

2019 $0.12

Latest posts