Financial technology firm Everi Holdings reported a 4% year-on-year decline in total revenues to US$181.3 million in the three months to 31 March 2025, with growth in its FinTech segment offset by a substantial decline in the gaming business.
According to information filed Wednesday, games revenues fell by 12% year-on-year to US$85.7 million, primarily due to a reduction in daily win per unit and a decline in the average number of units in Everi’s installed base as reflected in gaming operations revenues. Equipment revenues declined due to a decrease in units sold, which was partially offset by an increase in the average selling price, it said.
FinTech revenues increased by 4% year-on-year to US$95.6 million, primarily due to an increase in kiosk and loyalty unit sales.
Group-wide net income of US$3.9 million was down 14%.
The company’s Q1 results come as it nears completion of a previously announced transaction under which both Everi and the gaming business of fellow industry supplier IGT will be acquired by funds managed by affiliates of private equity firm Apollo Global Management.
Everi confirmed that the acquisition, which will see it delisted from the NASDAQ, could close as early as the end of 2Q25 or during Q3.
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