Loading...
Everi Q1 2025 Earnings Report
Everi Holdings Inc. reported a decrease in total revenues and net income for the first quarter of 2025, primarily driven by a decline in Games revenues, partially offset by growth in FinTech revenues.
Key Takeaways
Everi Holdings Inc. experienced a decline in overall financial performance in Q1 2025, with total revenues decreasing by 4% to $181.3 million and net income falling by 14% to $3.9 million. This was largely due to a significant 12% drop in Games revenues, while FinTech revenues showed a modest 4% increase.
Total revenues decreased by $8.1 million, or 4%, to $181.3 million for the three months ended March 31, 2025, compared to the same period in the prior year.
Net income for the three months ended March 31, 2025, was $3.9 million, a decrease of 14% from $4.6 million in the prior year.
Games revenues declined by 12% to $85.7 million, primarily due to a reduction in daily win per unit and a decrease in the average number of units in the installed base.
FinTech revenues increased by 4% to $95.6 million, driven by higher kiosk and loyalty unit sales and support-related solutions.
Everi
Everi
Everi Revenue by Segment
Everi Revenue by Geographic Location
Revenue by Segment
Games Revenue
CapyFin.comFinTech Revenue
CapyFin.comRevenue by Geographic Location
Domestic Revenue
CapyFin.com Forward Guidance
The Proposed Transaction, where IGT Gaming and Everi will be privately owned companies as part of one combined enterprise, is expected to close as early as the end of the second quarter of 2025 or during the third quarter of 2025, subject to customary closing conditions including regulatory approvals.
Positive Outlook
- The Proposed Transaction aims to combine IGT Gaming and Everi into a single privately owned enterprise.
- Everi stockholders are expected to receive $14.25 per share in cash, subject to adjustments.
- The transaction is cross-conditioned on the acquisitions of both IGT Gaming and Everi.
- The transaction is subject to customary closing conditions, including the receipt of regulatory approvals.
- The Proposed Transaction is currently expected to close as early as the end of Q2 2025 or during Q3 2025.
Challenges Ahead
- The Proposed Transaction is subject to the satisfaction of necessary closing conditions, including regulatory approvals, which may not be met in the anticipated timeframe or at all.
- There is a possibility that the Proposed Transaction may not be consummated, which could negatively impact Everi's stock price and operating results.
- Significant transaction costs, fees, expenses, and charges are associated with the Proposed Transaction.
- Operating costs, customer loss, and business disruption (including difficulties in maintaining employee, customer, or other business relationships) could occur following the announcement or closing of the Proposed Transaction.
- The diversion of Everi management's attention from its ongoing business due to the Proposed Transaction could negatively impact operations.