Everi reveals 17% revenue decline in Q3 report
Casino equipment maker and financial technology (FinTech) supplier Everi Holdings Inc. has reported a 2020 Q3 revenue of $112.1 million, a decline of 17% from the total of $134.6m from a year prior.
The figure does, however, represent a steep increase from the $38.7m reported in Q2 2020.
The latest report saw revenue in Games and FinTech of $57.2m and $54.9m, respectively.
Net loss meanwhile was $0.9m, a $67.6m improvement from the $68.5m figure reported in Q2.
Everi chief executive officer Michael Rumbolz expressed his pride at his staff during these uncertain times, explaining that the company’s resilience can see them through the COVID-19 pandemic.
“The significant quarterly sequential improvement in revenue, net income, Adjusted EBITDA and Free Cash Flow in the third quarter demonstrates a quicker than previously expected recovery in our results,” said Rumbolz.
“Our operations strengthened throughout the third quarter, with better performance at the end of the quarter compared to earlier in the quarter.
“While the future impact of the pandemic remains uncertain, our improved results highlight the resilience and strength of our recurring-revenue streams.”
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