Casino giant Everi Holdings Inc. has announced that the company is set for a year of ‘steady growth’ as it releases Q4 bump in profits.  

Taking away from the statement, the successful financial performance has been driven by the Company’s games and fintech divisions.

Following what Everi describes as “substantial pandemic impacts”, the business achieved ‘record’ game machine sales while the fintech department demonstrated a ‘significant’ year-over-year quarterly growth.

Transforming Everi’s statement into numbers, the financial report shows that the Company’s revenue from its games segment increased to US $105.4m in Q4 2021, significantly outperforming the US $64.9m revenue stream from the end of the previous year.

Reaffirming that the Company is highly pleased with the end-of-the-year results coming in from both branches, Randy Taylor, President and Chief Operating Officer at Everi, stated: “Our operating momentum has been driven primarily by the strength of our high-margin Games and FinTech recurring revenue operations.”

The Q4 revenue accumulated by Everi’s fintech arm has amounted for US $75m in 2021, again a boost from the US $54.6m in Q4 2020. An increase in financial access services and software is what the Company believes to be behind the growth.

Moving away from the branch-specific operations, a more general view reveals that the total Q4 revenue rose 51% to a record US $180.4m (2020: US $119.6m). Full-year revenue increase of 24% can also be observed, bringing the company a total of US $660.4m for the entirety of 2021 as opposed to the US $383.7m in 2020.

“This performance reflects our strategic focus on growing our recurring revenues and our continued investment in the development of new and enhanced products that help our customers grow revenue and manage their business more effectively,” commented Michael Rumbolz, Chief Executive Officer of Everi.

“The dedicated and collaborative efforts of our talented global workforce to execute on our operating priorities is clearly evidenced in these strong results.

“As we begin 2022, our core recurring-revenue businesses continue to grow and our newer initiatives – including igaming and cashless wallet technology – have a strong foundation from which we expect to generate substantial contributions to our future financial performance.”

Included in the Company’s new annual guidance is that 2022 will bring year-over-year increase in revenue, adjusted EBITDA and free cash flow.

Everi has also forecasted a maximum of 13% year-over-year increase in operating income, driving net income to a range between US $125m and US $132m, with adjusted EBITDA to increase six percent to eight percent to a range of US $368m to US $376m.

“For 2022, we expect another year of steady growth as our operating results benefit from the continued expansion of our installed base of leased gaming units, growing ship share of gaming machines sold, continued increases in same-store financial access transactions and ongoing organic growth of our loyalty and regulatory compliance solutions,” Rumbolz continued.

“Ongoing momentum in these product categories, combined with our prudent management of operating and R&D expenses, is expected to deliver another year of strong free cash flow generation that will continue to enable Everi to allocate capital towards return-focused investments that generate further growth.”