Full year results 2020

Everi swings to loss in 2020 after revenue decline in all segments

| By Daniel O'Boyle
Gaming and financial technology business Everi saw revenue drop 28.8% to $383.7m in 2020 after seeing revenue from all channels decline, including a sharp drop in gaming equipment and system sales.

Within the gaming segment, revenue from gaming operations were down 17.3% to $156.2m. However, gaming equipment and system sales dropped 51.6% to $44.0m, while other revenue dropped 97.1% to just $96,000.

Revenue from its fintech division also declined, by 26.8% to $183.4m. Most of this came from cash access services, which brought in $112.0m, down 32.0%. Fintech equipment brought in $24.3m, down 35.9%, while information services and other fintech revenue ticked down by 1.1% to $47.0m.

Expenses also declined, by 11.6%, but were higher than revenue at $389.1m.

Read the full story on iGB North America

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