Innovative gaming technology supplier, operating in two high-value product
segments that generate significant recurring revenue and cross-sell opportunities
Games: A leading developer of entertaining and differentiated casino games and digital iGaming content and other gaming services
Digital
iGaming
FinTech: The gaming industry's preeminent provider of integrated financial services, regulatory compliance software, player loyalty and mobile-first technology platforms and apps
HIGH-VALUEPRODUCTS & SERVICES OFFER CROSS-SELL OPPORTUNITIES AND DRIVE SHARE GAINS
MULTIPLE LONG-TERMHIGH-GROWTH OPPORTUNITIES
Free Cash Flow ('FCF") is a non-GAAP financial measure. Reconciliations to the most directly comparable GAAP measure can be found in the appendix to this presentation. Reconciliations for additional quarterly and annual periods can be found in applicable earnings releases located on Everi's website at ir.everi.com.
Approximately 72% of LTM 2Q-2023 revenues were of a recurring nature
Recurring revenue in LTM 2Q-2023 was $587 million,
representing a 10% CAGR since FY 2018
Gaming Operations: Leased gaming machines generally placed on a shared-revenue basis with casino operators; more than 25% of the total installed base are units under multi-year placement contracts; all other standard and premium participation units generally remain on casino floors for as long as in-casino performance is acceptable, with periodic game theme updates provided to refresh in-casino performance.
Financial Access Services: Revenue earned on
transactional activity under multi-year service contracts (typically 3-5 years) with generally sticky long-lasting relationships; average length of Everi's Top 30 customer relationships in excess of 12 years.
Software & Other: Critical software and services are integrated into casinos' daily operations and generally provided under annual or multi-year agreements, such as player loyalty and regulatory compliance software, product subscriptions, gaming industry Credit Bureau and kiosk maintenance services. 74% of Software & Other is of a recurring nature.
Robust product pipeline, consistent operating execution and attractive
margins drive steady revenue and Adjusted EBITDA(1) growth
Revenue
Adjusted EBITDA (1)
($ in millions)
$825
$818.9
$782.5
$660.4
$625
$533.2
$469.5
$425
$410.7
$383.7
$225
2019 (2)
2017
2018
2020
2021
2022
LTM
2Q-2023
($ in millions) $400
$374.1 $378.6
$347.2
$300
$253.2
$230.4
$212.8
$200
$176.5
$100
2019 (2)
2017
2018
2020
2021
2022
LTM
2Q-2023
Adjusted EBITDA is a non-GAAP financial measure. Reconciliations to the most directly comparable GAAP measure can be found in the appendix to this presentation.
Reconciliations for additional quarterly and annual periods can be found in applicable earnings releases located on Everi's website at ir.everi.com.
Acquisition of player loyalty businesses contributed ~3% of revenue growth in 2019.
Everi Holdings Inc. published this content on 29 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 August 2023 00:47:53 UTC.
Everi Holdings Inc. develops and offers products and services that provide gaming entertainment, improve its customersâ patron engagement, and help its casino customers operate their businesses. It develops and supplies entertaining game content, gaming machines and gaming systems and services for land-based and iGaming operators. It operates through two segments: Games and Financial Technology Solutions (FinTech). The Games segment provides gaming operators with gaming technology and entertainment products and services, including gaming machines, primarily comprising Class II, Class III and Historic Horse Racing slot machines placed under participation and fixed-fee lease arrangements or sold to casino customers. The FinTech segment provides gaming operators with financial technology products and services, including financial access and related services supporting digital, cashless and physical cash options across mobile, assisted and self-service channels.