Everi Tightens Full Year 2021 Net Income and Adjusted EBITDA Guidance to Top of the Previously Provided Range
LAS VEGAS, Oct. 4, 2021 /PRNewswire/ -- Everi Holdings Inc. (NYSE: EVRI) ("Everi" or the "Company"), a premier provider of land-based and digital casino gaming content and products, financial technology and player loyalty solutions, today announced that at its investor and analyst presentation in conjunction with the 2021 Global Gaming Expo ("G2E"), the Company tightened its outlook for 2021 full year net income and Adjusted EBITDA to the top end of the previously provided range. The Company now expects that 2021 full year net income will be $90 million to $95 million and Adjusted EBITDA will be $337 million to $342 million. Everi had previously expected 2021 full year net income of $87 million to $95 million and Adjusted EBITDA of $332 million to $342 million. The updated full year guidance demonstrates meaningful ongoing annual growth compared to 2020 and pre-pandemic 2019 results, even as the current COVID-19 pandemic environment persists.
"Everi's focus on providing casino operators and players with innovative products as a result of our ongoing investment in the development of new products is a key driver of our growth," said Michael Rumbolz, Everi Chairman and CEO. "As we execute on our plans that lead to the expected record setting financial results for 2021, we are also establishing an even stronger foundation for continued growth in 2022 and beyond."
Company Discusses Its Latest Expanded Offering of New Products
Dean Ehrlich, Everi Executive Vice President and Games Business Leader shared highlights of the Company's newest products on display at G2E that are designed to further enhance its leading position in the high-denomination mechanical reel segment and expand the depth and breadth of its growing video portfolio. Highlighted products (click here) also included Everi's latest premium titles, the next-generation TournEvent® platform and the latest form factor – a new three-reel mechanical cabinet. Dean Ehrlich, said, "The latest addition to our three-reel mechanical lineup – Player Classic Signature™ – is inspired by our long-term success with delivering top-performing mechanical games. This cabinet is built for the future and yet classic in its appeal for the player demographic."
David Lucchese, Everi Executive Vice President of Sales, Marketing and Digital shared highlights on the growth factors that are driving the Company's Business-to-Business ("B2B") iGaming expansion. David Lucchese said, "Everi is on a strong growth track with our Digital Gaming business, as we benefit from the ongoing expansion of B2B iGaming solutions into new jurisdictions as well as growth within existing jurisdictions. Added growth comes from increasing our portfolio of games (click here), expanding our roster of integrated online customer sites, and developing high-performing customized games for customers."
Darren Simmons, Everi Executive Vice President and FinTech Business Leader shared highlights on the latest product additions to the Company's Digital Neighborhood of comprehensive financial, casino loyalty and compliance products and service solutions, which incorporate customer-centric features that significantly increase the efficiency of casino operations. Highlighted products (click here) included CashClub Wallet® cashless wallet technology, the Company's jackpot management system, enhancements to its growing casino loyalty platform and Everi's next-generation Anti-Money Laundering compliance platform. Darren Simmons said, "Our CashClub Wallet is an important hub within the comprehensive integrated product network that forms our Digital Neighborhood. We believe our cashless wallet technology creates new operational efficiencies with existing infrastructure across the entire casino ecosystem, while providing casino guests with a convenient, end-to-end mobile funding experience."
The expected outlook announced in this release contains forward-looking statements. Actual results may differ from this outlook, and such differences may be material.