Digital casino products and player loyalty solutions provider Everi Holdings Inc continued its recent momentum in 3Q21, reporting record operating income of US$55.1 million.
The impressive result came on the back of a 25% increase in revenue versus the comparable period in 2019 (pre-COVID) to US$168.3 million and 40% rise in Adjusted EBITDA to US$90.6 million.
Both were only slightly below Q2’s revenue and EBITDA records of US$172.6 million and US$92.5 million respectively.
Revenue included US$95.8 million from the games segment, up from US$69.3 million in 3Q19, and US$72.4 million from the financial technology solutions segment, up from US$65.3 million two years ago.
The company said it now expects full year revenue of between US$645 million and US$653 million, net income of between US$98 million and US$100 million and Adjusted EBITDA of between US$342 million and US$346 million.
“The growth in our third quarter revenue, operating earnings and Free Cash Flow demonstrate the substantial ongoing momentum in our financial performance,” explained Everi CEO Michael Rumbolz.
“We expect that further growth across both our Games and FinTech segments will continue for the remainder of this year and into 2022 and beyond. We expect to continue to benefit from the expansion of our installed base of leased gaming units, growth in ship share, same-store increases in financial access transactions, and the ongoing organic growth of our loyalty and regulatory compliance solutions.
“We believe the ongoing strength across both businesses and our deep pipeline of new offerings will drive consistent earnings and revenue growth as well as the continued generation of significant Free Cash Flow.”
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