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Everi Holdings Inc. (EVRI) stock is experiencing a downfall of 9.27% – Learn why?

Everi Holdings Inc. (EVRI) saw a decrease of 9.27% in the premarket. However, the last trading session concluded at $19.85.

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Partnership with Atlantic Lottery Corporation – What’s new?

On 13th December 2021, EVRI announced that they have launched a new partnership with Atlantic Lottery Corporation. Everi’s popular three-reel mechanical and video slot games are now accessible online in New Brunswick. Moreover, the Company uses the patented Spark Remote Game Server to safely provide its iGaming slot content to ALC. Not only this but Everi Digital has expanded the Spark RGS’s reach over the last three years, now providing content to operators in British Columbia, Manitoba, Ontario, and Quebec.

Latest Updates by EVRI

Everi Digital’s beneficial new collaboration with ALC allows the company to increase the reach of the cutting-edge Spark RGS platform and provide high-performing content to online gamers across Atlantic Canada. Furthermore, EVRI’s strong and increasing digital game presence continues to resonate with gamers across the board. Lastly, the company is convinced that as they expand the online footprint to encompass the majority of Canada, ALC’s online gamers will enjoy the unique games.

Third Quarter 2021 Results – How was the quarter going?

On 3rd November 2021, EVRI reported third-quarter 2021 results. The company reported that the revenue climbed to $168.3 million. Moreover, the operating income rose to $55.1 million. The adjusted EBITDA increased to $90.6 million in the third quarter, compared to $64.7 million in the previous quarter.

In addition, the company has received a positive response from customers at G2E. With well-received new themes offered throughout the range of premium video, premium mechanical, standard video, standard mechanical, and wide-area progressive machines, the scope of the company’s newest products in the Games section continues to expand.

So what?

Revenue, operational profitability, and Free Cash Flow all increased in the third quarter, indicating that our financial performance is still on the rise. For the rest of this year, as well as into 2022 and beyond, EVRI foresees continued growth in both the Games and FinTech businesses.

The development of the installed base of leased gaming units, increase in ship share, same-store gains in financial access transactions, and the economic expansion of the loyalty and regulatory requirements solutions are all expected to benefit the company in the future. Last but not least, the company anticipates that the sustained success of both companies, as well as the extensive pipeline of new products, will result in continuous profits and sales growth, as well as considerable Free Cash Flow creation.

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