Everi raises FY21 net income and EBITDA expectations after Q3

| By Marese O'Hagan
Everi has raised its 2021 full year net income and adjusted EBITDA expectations, moving both the the higher end of the previously projected range.

The adjustments were announced at Everi’s investor and analyst presentation following the end of Q3.

Everi now expects that its 2021 full year income will lie between $90m and $95m, while adjusted EBITDA will be between $337m and $342m.

“As we execute on our plans that lead to the expected record setting financial results for 2021, we are also establishing an even stronger foundation for continued growth in 2022 and beyond,” said Michael Rumbolz, chairman and CEO of Everi.

Everi saw a 105.1% rise in revenue in its half-year results, while its adjusted EBITDA rocketed by 201.8% year-on-year.

Rumbolz also said the business was continuing to launch and integrate new products. Yesterday (October 4), Everi announced its acquisition of Meter Image Capturing’s strategic assets. The technology, currently deployed in more than 20 casinos, collects progressive meter data and automatically provides this data to back-end audit and financial departments.

“Everi’s focus on providing casino operators and players with innovative products as a result of our ongoing investment in the development of new products is a key driver of our growth,” continued Rumboltz.

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