Everi profits continue through Q3

New York-listed casino technology solutions provider Everi Holdings Inc. reported a third-quarter profit of $2.1 million in the third quarter, a turnaround from last year’s $4.3-million loss during the same period.

President and CEO Michael Rumbolz, in a press release, said, “Our third quarter results reflect the ongoing progress we are achieving through the execution of key initiatives, including the successful introduction of new products for our Games and Financial Technology [fintech] Solutions businesses which are driving consistent growth.”

He noted that it was the company’s ninth consecutive quarter of year-on-year growth in revenue and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), and was the third consecutive quarter of positive net income and earnings per share, the latter amounting to $0.03.

Revenue for the quarter was $120.3 million, up 17.3% from July to September of the previous year. Adjusted EBITDA went up 9.6%, to $58.3 million.