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NEWS 8 August 2018

Everi Holdings sets record EBITDA figures in Q2

By Oliver Rudgewick

In an update to investors, Everi Holdings has recorded a net income of $1.5m for the second quarter of the 2018 financial year.

Revenues for the three months ending 30 June 2018 totalled at $119m, increasing from $102m during the same period a year prior. 

Everi Holdings has recorded a net income of $1.5m for the second quarter in comparison to the net loss of $19.1m it made in 2017. 

The adjusted EBITDA rose to $59.5m for the quarter, a year-on-year increase of 10% and a record amount for a single quarter.

However, operating income also saw a small increase up to $22.6m from $21.3m.

Everi stated the second quarter success were driven by improvement across all business operations.

Michael Rumbolz, President and Chief Executive Officer of Everi, commented: “Ongoing customer demand for products across the spectrum of our Games and Financial Technology Solutions portfolio is driving growth across the key performance indicators of our business including record quarterly unit sales, our highest ever quarter-end installed base, a record year-over-year rise in daily win per unit which increased $2.42, or 9%, and FinTech revenue improvement of more than 11% with the segment Adjusted EBITDA rising for the ninth consecutive quarter.”

Overall H1 revenue is $229m up from $203m year-on-year, showing a good recovery after the company recorded net losses last year.

RELATED TAGS: Financial | Industry
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