Everi Hldgs Inc Stock Price, News & Analysis

Everi Holdings Inc. (NYSE: EVRI) announced the appointment of Debra Nutton to its Board of Directors, effective April 1, 2023. Ms. Nutton, an independent director with over 40 years of gaming industry experience, fills a vacancy on the Board, now consisting of nine members. Her previous roles include Executive Vice President of Casino Operations at Wynn Las Vegas and various senior positions at MGM Resorts. The Board expresses confidence in her leadership as the company seeks to leverage growth opportunities in the gaming sector.

Exacta Systems launches Everi's first Historical Horse Racing (HHR) games at Boston Billiards Club & Casino in Nashua, New Hampshire. Featured games include Patriot Extra Spin®, Triple Jackpot Gems Deluxe®, Wild Gems Extra Spin®, and Blazin' Gems Deluxe®, now available on Exacta Connect™. Exacta CEO Ross O'Hanley expressed excitement about the partnership, while Everi’s Dean Ehrlich highlighted a swift entry into the HHR market.

This collaboration enables Everi to reach a new gaming audience while leveraging Exacta's advanced system architecture. Everi Holdings Inc. is focused on innovation in gaming technologies and solutions.

Everi Holdings reported a 14% revenue increase to $205.4 million for Q4 2022, with FinTech revenues up 23% to $92.2 million. Games segment revenues rose 7% to $113.2 million, driven by higher unit sales. Recurring revenues accounted for 70% of total revenues. However, net income fell to $27 million compared to $89.4 million in Q4 2021, largely due to a prior year tax benefit. Adjusted EBITDA increased to $93.4 million, while Free Cash Flow saw an impressive rise to $41.7 million. For 2023, Everi forecasts net income of $88-$100 million and Free Cash Flow of $150-$160 million amid potential macroeconomic challenges.

MGM Resorts International (NYSE:MGM) and BetMGM have launched MGM Riches, their first custom omnichannel slot experience. This multi-denomination, multi-level progressive slot game features two themes: 'MGM Riches Triple Ruby' and 'MGM Riches 5x Sapphire.' Players can access this game online via BetMGM and at MGM properties in 15 U.S. states, with an upcoming launch in West Virginia. This initiative integrates MGM Rewards and BetMGM Rewards, allowing players to earn Tier Credits and redeem rewards across both platforms. The launch aims to enhance the gaming experience and engagement for customers.

Everi Holdings Inc. (NYSE: EVRI) announced the construction of a new facility in Las Vegas intended to consolidate its production and distribution operations currently split between Las Vegas and Austin, TX. This 182,500-square foot facility, set to be completed by October 2023, will enhance operational efficiencies in manufacturing gaming machines and FinTech products. The transition will incur approximately $4.5 million in expenses. The facility will emphasize environmental sustainability, aiming for a 3 Green Globes rating, and is designed to support employee wellness. 35 employees affected by the transition will have relocation options.

Everi Payments Inc., a subsidiary of Everi Holdings (NYSE: EVRI), has achieved SOC 2 Type 1 audit certification, demonstrating effective controls over the security and data privacy of its FinTech and loyalty platforms. This certification, crucial for customer assurance, evaluates five trust principles: security, availability, processing integrity, confidentiality, and privacy. CEO Randy Taylor emphasized this milestone reflects Everi's commitment to security. The certification ensures robust protection against unauthorized access, enhancing trust among casino operators. Customers can request a copy of the audit certification.

Everi Holdings Inc. (NYSE: EVRI) has announced a strategic partnership with 1839 Labs to enhance fan engagement and operational efficiency at sporting venues. This collaboration will start with the Balaton Gate Motor Speedway in Hungary, a new FIA-grade racetrack scheduled to open this Spring. The aim is to deploy Everi’s Venuetize platform for mobile-first fan experiences, targeting growth in motorsports markets like Formula 1 and MotoGP. Executives from both companies emphasize the potential for new revenue streams and improved guest interactions through innovative mobile technology and IoT applications.

Everi Digital has partnered with Caesars Sportsbook & Casino to provide its acclaimed online gaming content for real-money gaming operations. This collaboration will utilize Everi's Spark™ Remote Game Server, featuring nearly 70 engaging titles, including popular games like Triple Jackpot Gems®. Everi aims to expand its reach across North America, integrating its content into over 80 online casinos. This agreement underscores Everi Digital's position as a leading supplier in the iGaming sector, promising enhanced gaming experiences for players. The partnership is expected to benefit both companies by leveraging Everi's innovative gaming solutions.

Everi Holdings Inc. (NYSE:EVRI) will release its 2022 fourth quarter and full year results before the market opens on March 1, 2023. The company will host a conference call and webcast at 11:00 a.m. ET that same day. Investors can access the call by dialing (201) 689-8471 and a replay will be available after 2:00 p.m. ET until March 8, 2023. The webcast can be found on www.everi.com under “Investors” and “Events & Contact.” Everi is a leading provider of gaming technology solutions and financial technologies in the casino industry.