Everi says it’s expanding use of digital wallet in earnings report
Everi Holdings Inc.’s CEO said the company performed “better than expected” during the third quarter with a $900,000 loss but $112.1 million in revenue.
Revenue was up from the $38.7 million reported in the previous quarter but down 16.7 percent year over year.
The Las Vegas-based company, which provides land-based and digital casino gaming products, financial technology and player loyalty solutions, said the results were due to improvements in the games and financial technology segments.
CEO Michael Rombolz also credited strong performance among the company’s tribal and regional casino customers.
Two of the company’s clients — “well-known, tribal casino operators” — are set to launch Everi’s digital, white-labeled CashClub Wallet this month. Rombolz said the wallet combines a loyalty app with a digital wallet and allows users to access funds and rewards program benefits.
Looking forward, President and Chief Operating Officer Randy Taylor said the company has faced challenges due to the pandemic, but he was “guardedly optimistic” for the company’s performance down the road.
“The road has smoothed out slightly,” he said.
Company shares closed up 4.9 percent to $9.03 on Monday.
Contact Bailey Schulz at bschulz@reviewjournal.com. Follow @bailey_schulz on Twitter.