Everi Holdings Inc., The leading provider of game products, financial technologies and solutions to ensure loyalty in the gaming industry, this week reported record financial results for the third quarter. Revenue increased by 12% before a record level of 134.6 million. Doll. USA and reflects the growth of income from the sale of games. Net profit increased and equal to 9.3 million. dollars compared to 2.1 million. dollars.
President and executive director Michael Rumbelz, said:
"Our record quarterly financial results can be directly related to the value of our product development initiatives and our operating strategies. Together they contribute to the constant growth of our business.
This constant positive progress in our financial results includes excellent results, both in our games and in business Fintech. These achievements are associated with passion and dedication of all members of our team who help our customers to develop their business, providing them with innovative solutions and world-class customer service. Given the constant strength of our business and growth opportunities, we are on the way to achieving high results for the whole year in accordance with our financial goals ".
Randy Taylor, Executive Vice President and Financial Director, said:
"Thanks to our improved performance and constant benefits from reasonable investments that we do both into our games and in Fintech operation, we have good opportunities to maintain growth rates in the fourth quarter of 2019 and early 2020.
The company’s president added:
"It should be noted that the productivity of the game segment in the third quarter was especially noticeable due to a significant quarterly consistent increase. These successes are the direct result of the improved productivity of the products we have submitted over the past few years, and advanced categories of the types of games that we are now placing on playgrounds. The innovation, demonstrated in our new premium models, is also applied to the development of our standard games, since we are focused on creating a more advanced game library. We believe that this focus will allow Everi to provide annual sales growth and increase our influence on the market.
The growth in the Fintech segment is explained by our unique ability to offer an integrated portfolio of integrated solutions that allows clients to work more efficiently and productively. At the same time, we maximize funds. We continue to provide steady organic growth, and also benefit from the acquisition at the beginning of this year the loyalty of players and marketing products. As an additional addition to our Fintech portfolio, this business is provided both strategic and highly adaptive. In addition, the driving force of growth is the replacement of old equipment, since our clients seek to further increase their effectiveness with the latest improvements and recent innovations built into all our products ".
Given the considerable success achieved in the game business, as evidenced by its preserving high demand for premium slot machines, Everi is counting on a further increase in growth in the fourth quarter of 2019. As a result of an increase in investment in the second half of 2019 to support the dynamics of highly profitable game operations, Everi expects a free cash flow in 2019 by double.
Everi leading supplier of original entertainment and proven technological solutions for the online casino industry. Focusing on both clients and online casino players, the company develops slot machines, game systems and services and is an outstanding provider of tools and applications to ensure the loyalty of players, as well as intellectual and regulatory and legal decisions. Everi’s mission is to provide online casino operators the best games, as well as provide software tools and applications to improve the efficiency of online casino and fulfill the requirements in accordance with legal norms.