We hosted a very “investor interactive” corporate access event with the management team of Everi Holdings, Inc. Lots of good questions from investors that joined! We scheduled for 45 minutes and the time flew by.
Everi Holdings, Inc. is an “Innovative gaming technology supplier”. If you’ve ever gambled, there’s a good chance that you’ve used their products. Last quarter alone, they sold 1,957 gaming machines – and that doesn’t include their FinTech business. Their “CashClub Wallet” is growing quickly – it’s very popular with customers and that translates into more business for Everi. They’re online, too, with Everi Digital currently live on 69 different sites.
We heard about their Large Recurring Revenue Base (about 74% last QTR) and its significance. Business is solid, with the last three quarters being the strongest three quarters in their history. They have a strong backlog and they’re generating free cash flow (just over $100M in the first six months). One thing is clear – they’re disciplined and analytical in their approach to their business.
“THANK YOU” to the Everi team for your time today, and “THANK YOU” to all the investors that joined us. Your support is meaningful!
Everi Holdings Participants:
Mark Labay: EVP, Chief Financial Officer, and Treasurer
Dean Ehrlich: EVP and Games Business Leader
Darren Simmons: EVP and FinTech Business Leader
Bill Pfund: SVP, Investor Relations
Everi Holdings Inc. Leadership Team: Randy Taylor, Mark Labay, Kate Lowenhar-Fisher, Dean Ehrlich, Darren Simmons, David Lucchese, Tim Richards