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Everi (EVRI) investor relations material

Everi has been delisted

Everi Q1 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Everi Holdings Inc
Q1 2025 earnings summary11 May, 2025

Executive summary

  • Total revenues for Q1 2025 were $181.3M, down 4% year-over-year, driven by a 12% decline in Games segment revenues, partially offset by a 4% increase in FinTech revenues.

  • Net income for Q1 2025 was $3.9M, compared to $4.6M in Q1 2024, reflecting lower operating income and higher depreciation and amortization.

  • A proposed all-cash merger with IGT Gaming was announced, under which Everi shareholders will receive $14.25 per share and Everi will be taken private.

Financial highlights

  • Games revenues fell to $85.7M (down 12%), mainly due to lower daily win per unit and a smaller installed base; FinTech revenues rose to $95.6M (up 4%) on higher hardware and software sales.

  • Operating income decreased 19% to $20.0M; operating margin was 11% versus 13% a year ago.

  • Net cash provided by operating activities surged to $342.3M, up $287.1M year-over-year, mainly due to settlement activity timing.

  • Cash and cash equivalents at March 31, 2025 were $712.5M; total debt was $960.5M.

  • EPS was $0.05 (basic and diluted) for Q1 2025, compared to $0.04–$0.05 in Q1 2024.

Outlook and guidance

  • The proposed merger with IGT Gaming is expected to close as early as the end of Q2 or during Q3 2025, subject to regulatory approvals.

  • Everi expects its cash, cash flows, and credit facility to be sufficient for operating and capital needs in the foreseeable future.

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Frequently asked questions

Everi Holdings Inc. is a gaming technology company that provides innovative solutions for the casino and entertainment industries. The company operates through two primary segments: Games and Financial Technology (FinTech). Its Games division develops slot machines, electronic gaming content, and player engagement tools, while the FinTech division offers financial services such as cash access, payment solutions, compliance tools, and loyalty programs for casino operators. The company is headquartered in Las Vegas, Nevada, and its shares are listed on the NYSE.