Everi Reports 2018 Third Quarter Results
LAS VEGAS (Nov. 6, 2018) – Everi Holdings Inc. (NYSE:EVRI) (“Everi” or the “Company”) today reported financial results for the third quarter ended September 30, 2018.
Michael Rumbolz, President and Chief Executive Officer of Everi, commented, “Our third quarter results reflect the ongoing progress we are achieving through the execution of key initiatives, including the successful introduction of new products for our Games and Financial Technology Solutions (“FinTech”) businesses which are driving consistent growth. We generated our ninth consecutive quarter of year over year revenue and Adjusted EBITDA growth, with revenue increasing 17.3% to $120.3 million and Adjusted EBITDA rising 9.6% to $58.3 million. We also generated our third consecutive quarter of positive net income and earnings per share. Both business segments are contributing to this growth, with quarterly record FinTech revenue and Adjusted EBITDA of $54.5 million and $26.5 million, respectively, and Games revenue and Adjusted EBITDA of $65.8 million and $31.8 million, respectively, each reaching their second highest ever quarterly level. As a result of the continuing strength in both lines of business, we remain on track to achieve our outlook for full year Adjusted EBITDA of $228 million to $231 million and to deliver on our expectation for near-term acceleration in free cash flow generation.”
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