Everi Hldgs Inc Stock Price, News & Analysis

Everi Holdings (NYSE: EVRI) announced the acquisition of strategic assets from Meter Image Capturing, LLC, enhancing its FinTech offerings for casino operators. The acquisition leverages MIC's progressive meter reporting technology, which improves operational efficiency by accurately recording gaming machine data. Financial terms were not disclosed, but Everi expects the deal to be accretive to earnings and operating cash flow. MIC's technology, already deployed in over 20 casinos, will streamline operations and integrate with Everi's existing products.

Everi Holdings (NYSE: EVRI) will showcase nearly 40 new original game themes and 6 licensed titles at the Global Gaming Expo (G2E) from October 4-7, 2021. The event highlights Everi's focus on innovative gaming cabinets and engaging player experiences. New products include the Player Classic Signature cabinet and several premium titles for the Skyline Revolve cabinet. The TournEvent platform will be enhanced with five new features to increase revenue for casino operators. Everi aims to reinforce its leadership in gaming while expanding its library of entertainment options.

Everi Holdings Inc. (NYSE: EVRI) will present its comprehensive suite of FinTech solutions, termed the "Digital Neighborhood," at the Global Gaming Expo (G2E) 2021 from October 4-7. The offerings include the CashClub Wallet, a cashless payment solution available on over 26,000 electronic gaming devices, and Jackpot Xpress, an intuitive jackpot management system. With a focus on enhancing operational efficiency and customer experience, Everi aims to solidify its position as a leading provider in the gaming industry's FinTech space.

Everi Digital, the online gaming division of Everi Holdings, has partnered with BetMGM to introduce the custom-themed game Borgata 777 Respin. This title is accessible via BetMGM Casino and Borgata Casino in New Jersey and Pennsylvania. It features a re-spin bonus and various multipliers, enhancing player engagement. David Lucchese, Everi's EVP, emphasized the collaboration's aim to deliver vibrant gaming experiences. This marks Everi's first partnership game with BetMGM, adding to their digital content portfolio.

Acres Manufacturing Company announced that its Foundation™ casino management system is facilitating cashless gaming at Penn National Gaming's new Hollywood Casino York in Pennsylvania. Following prior installations, Foundation™ will further be deployed at additional Penn National casinos as regulatory approvals are obtained. The system integrates with Penn National's mychoice wallet, powered by Everi Holdings' CashClub Wallet, enabling secure transactions for players on the casino floor. The technology aims to enhance player experience through real-time behavior data and seamless cashless gaming.

Everi Holdings has announced the launch of its CashClub Wallet® technology at Penn National Gaming's Hollywood Casino York in Pennsylvania. This digital wallet enables cashless transactions, allowing guests to deposit funds via debit or credit cards and access them directly at gaming machines. The partnership includes plans for broader implementation across Penn National's properties pending regulatory approval. The technology aims to enhance guest convenience and operational efficiency while integrating with Penn National's mychoice loyalty program.

Everi Holdings (NYSE: EVRI) has partnered with Konami Gaming to integrate its digital CashClub Wallet with Konami's SYNKROS casino management system. This collaboration aims to enhance cashless transactions for casino operators, providing reliable funding solutions and improved player experiences. The integration supports a seamless cashless environment, enabling operators to manage payments and funding efficiently across various gaming and non-gaming operations.

Everi Holdings Inc. (NYSE: EVRI) reported record financial results for Q2 2021, showing a 33% revenue increase to $172.6 million compared to Q2 2019. Net income soared 560% to $36.2 million, with Adjusted EBITDA rising 44% to $92.5 million. The company's Free Cash Flow grew 462% to $39.2 million. Following successful refinancing, total debt is now $1.0 billion, reducing annual interest costs by $23 million. The robust performance is attributed to strong demand in Games and FinTech segments, alongside a growing percentage of recurring revenues.

Everi Holdings Inc. (NYSE: EVRI) announced a successful refinancing of its outstanding debt totaling $1.0 billion. This includes a $600 million senior secured term loan due 2028, a $125 million undrawn senior secured revolving credit facility due 2026, and $400 million in senior unsecured notes due 2029. The refinancing reduces annual cash borrowing costs by approximately $23 million compared to June 30, 2021. The company emphasized improved balance sheet strength and financial flexibility, aiming for Free Cash Flow generation with a long-term net debt leverage target of 2.5-to-3.0 times Adjusted EBITDA.