Published
Land-BasedCasinoFinancial

Everi reports net income of $21m for Q1 2021

Supplier Everi Holdings has reported $76.2m in gaming revenue for the three months ended 31 March, against $57.3m the previous year.

FinancialReports

Net income was $20.5m, compared to $13.5m net loss for the same period the previous year. Operating income for Q1 2021 was $40.2m.

Game revenues were $58.1m, while fintech revenue stood at $62.9m. Gaming equipment and systems brought $18m in revenue, still not reaching the $23.1m recorded for Q1 in 2019. Digital revenue nearly doubled to $2.4m in the first quarter of 2021 compared to $1.1m a year ago.

The company’s total revenues for Q1 were $139.1m, a record for the first quarter compared to $113.3m in 2020 and $123.8m in Q1 2019. Adjusted EBITDA was $75.4m, against $61.3m in the 2019 first quarter.

“We are off to a strong start in 2021 with first quarter record revenue; and all-time quarterly record net income,” said Michael Rumbolz, CEO. “The substantial improvement in our operating results demonstrates the significant ongoing demand for our products in both our games and fintech segments.”

“Our strong start to 2021, which has continued into the second quarter, is a great indication that we are already regaining our pre-pandemic momentum, including our expectation that 2021 full year results will exceed the levels achieved in 2019.”

According to the statement, despite the recovery in revenue figures, Covid-19 still negatively impacted the business; as the company had to comply with social distancing rules and deal with reduced demand for Everi services and products, which resulted in reduced salaries or furloughs.  

Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Chicken Ranch Casino
The Responsible Gambling Affiliate Association (RGAA)
Catena Media
Gambling Commission
Follow Us
The most prestigious Awards in the industry are heading to the Philippines! The Global Gaming Awards Asia-Pacific will recognise and reward (as the name suggests) the strongest performers from the Asia-Pacific gaming industry across the previous 12 months.
This year's winners will be announced at a luncheon ceremony on Day 2 of SiGMA Asia, 4th June, in Manila.
The eleventh annual Global Gaming Awards Americas will recognize and reward the gaming industry's strongest performers across the previous 12 months. These are the most prestigious and trusted Awards in the industry and have gained respect amongst industry heavyweights, due to the strict rules and procedures put in place.

Facing Facts: Operator Q3s from across the globe

Gambling Insider compares Q3 2023 results from major gamblin...

Taking Stock: Operators and suppliers across the world

Sticking with our theme of gambling across the globe, Gambli...

CEO Special: Jade Entertainment and Gaming CEO Joe Pisano - down to earth

Jade Entertainment and Gaming CEO Joe Pisano speaks to Gambl...

CEO Special: Betfred CEO Joanne Whittaker - saying it as it is

Betfred CEO Joanne Whittaker joins Gambling Insider Editor T...