Everi Holdings Inc. (EVRI): History, Ownership, Mission, How It Works & Makes Money

Ever wondered how Everi Holdings Inc. (EVRI), a key player in the gaming and fintech industries, operates and generates revenue? This article dives into the history of Everi, its ownership structure, core mission, and the mechanics of its business model, offering a comprehensive overview of the company's operations and financial performance. With a trailing 12-month revenue of $758 million as of December 31, 2024, and a current market capitalization of $1.18 billion as of April 11, 2025, Everi's story is one worth exploring to understand its significance in today's market.

Everi Holdings Inc. (EVRI) History

Everi Holdings Inc.'s Founding Timeline

Year established

The company's origins trace back to 1998.

Original location

The company was originally located in Las Vegas, Nevada.

Founding team members

Initially known as Global Cash Access (GCA), the company was formed through the merger of several entities involved in cash access services for the gaming industry. While specific names of the founding team members are not readily available in the provided context, the company's formation involved key executives and stakeholders from the merging entities.

Initial capital/funding

Details regarding the specific initial capital or funding for Global Cash Access are not available in the provided context. However, the merger that formed GCA likely involved a significant capital investment from the participating companies and investors.

Everi Holdings Inc.'s Evolution Milestones

Everi Holdings Inc.'s Transformative Moments

• Strategic Rebranding (2014): The transition from Global Cash Access to Everi Holdings Inc. represented a pivotal moment, signaling the company's broadened vision beyond traditional cash access services. This transformation involved:
  • Diversifying into new business areas like gaming equipment and content.
  • Changing the company's image to reflect a more comprehensive suite of solutions for the gaming industry.
• Entry into Gaming Equipment (2015): The acquisition of Multimedia Games (MGAM) was a transformative step that enabled Everi to:
  • Establish a significant presence in the gaming equipment market.
  • Offer a diverse portfolio of slot machines and gaming products.
• Focus on Financial Technology (FinTech) Solutions: Everi's emphasis on developing innovative FinTech solutions has allowed it to:
  • Address the evolving needs of the gaming industry with advanced payment and cash management technologies.
  • Drive revenue growth and enhance customer experiences.
• Digital Transformation: Everi's focus on digital solutions is a transformative moment that involves:
  • Adapting to changing consumer preferences by offering mobile and cashless payment options.
  • Enhancing customer convenience and operational efficiency for casino operators.

For more in-depth information about investor profiles, check this out: Exploring Everi Holdings Inc. (EVRI) Investor Profile: Who’s Buying and Why?

Everi Holdings Inc. (EVRI) Ownership Structure

Everi Holdings Inc. operates as a publicly traded company, meaning its ownership is distributed among shareholders who can buy and sell shares on the open market. Understanding the ownership structure provides insights into who has influence over the company's decisions and strategic direction.

Everi Holdings Inc.'s Current Status

Everi Holdings Inc. is a publicly traded company, listed on the New York Stock Exchange (NYSE) under the ticker symbol EVRI. As a public entity, it is subject to regulatory oversight and reporting requirements, ensuring transparency for investors and stakeholders.

Everi Holdings Inc.'s Ownership Breakdown

Understanding the distribution of ownership in Everi Holdings Inc. is crucial for investors. While specific real-time data fluctuates, here's a general overview of the typical ownership structure based on the latest available information:

Everi Holdings Inc.'s Leadership

The leadership team plays a pivotal role in guiding Everi Holdings Inc.'s strategic direction and operational execution. Here are some key figures as of April 2025:

• Randy Taylor: President and Chief Executive Officer
• Mark Labay: Executive Vice President and Chief Financial Officer
• Dean Ehrlich: Executive Vice President and Games Business Leader

For insights into the company's goals and values, explore: Mission Statement, Vision, & Core Values of Everi Holdings Inc. (EVRI).

Everi Holdings Inc. (EVRI) Mission and Values

Everi Holdings Inc. aims to lead the gaming industry by providing innovative financial technology solutions and gaming content. The company is committed to integrity, innovation, and customer satisfaction, shaping its approach to business and product development.

Everi Holdings Inc.'s Core Purpose

Official mission statement

Everi does not have a formal, publicly declared mission statement. However, by examining Everi’s operations, its focus can be inferred:

• To lead the gaming industry by providing innovative financial technology solutions and gaming content that enhances the player experience and drives efficiency for casino operators.
• To deliver superior value to our customers, employees, and shareholders through a commitment to innovation, integrity, and customer service.

Vision statement

Everi does not have a formal, publicly declared vision statement. However, their vision can be inferred from their strategic goals and activities:

• To be the premier provider of land-based and digital casino gaming content, financial technology, and compliance solutions.
• To create a seamless and engaging experience for casino patrons, leveraging technology to enhance every interaction.
• To expand into new markets and channels, driving growth and increasing shareholder value.

Company slogan/tagline

Everi uses several taglines and slogans that reflect its business approach and vision:

• 'Powering the Casino Floor' - This tagline emphasizes Everi's role in providing essential technology and services to casinos.
• 'Innovation. Integrity. Customer Focus.' - This highlights the core values that guide Everi’s operations and relationships.

For more in-depth insights into Everi Holdings Inc., check out: Exploring Everi Holdings Inc. (EVRI) Investor Profile: Who’s Buying and Why?

Everi Holdings Inc. (EVRI) How It Works

Everi Holdings Inc. focuses on providing a diverse range of products and services to the gaming industry, including financial technology, games, and digital solutions designed to enhance the player experience and improve casino operations.

Everi's Product/Service Portfolio

Everi's Operational Framework

Everi operates through two main segments: Games and FinTech. Each segment contributes uniquely to the company's overall value proposition.

• Games Segment: This segment is involved in the design, development, and distribution of gaming machines and related equipment. Everi focuses on creating innovative game content and technology to attract players and drive revenue for casino operators.
• FinTech Segment: This segment provides financial technology solutions, including cash access services, compliance solutions, and mobile payment technologies. Everi's FinTech solutions help casinos streamline their operations, reduce costs, and enhance the player experience.

Everi's operational framework is designed to create a synergistic relationship between its Games and FinTech segments, allowing the company to offer a comprehensive suite of products and services to its customers.

Everi's Strategic Advantages

• Diverse Product Portfolio: Everi offers a wide range of products and services, allowing it to cater to the diverse needs of its customers and reduce its reliance on any single product or market.
• Strong Customer Relationships: Everi has established long-standing relationships with many of the leading casino operators in the world, providing it with a stable source of revenue and a competitive advantage in the market.
• Innovative Technology: Everi invests heavily in research and development, allowing it to stay ahead of the curve and offer its customers the latest and most innovative gaming and financial technology solutions.
• Regulatory Expertise: Everi has a deep understanding of the regulatory landscape in the gaming industry, allowing it to help its customers navigate complex compliance requirements and avoid costly penalties.
• Central Credit, LLC: This credit bureau gives Everi a unique data set, which is a strategic advantage for understanding player behavior and credit risk.

These strategic advantages enable Everi to maintain a strong competitive position in the gaming industry and deliver value to its customers and stakeholders. For more insights into Everi's financial performance, you might find this resource helpful: Breaking Down Everi Holdings Inc. (EVRI) Financial Health: Key Insights for Investors

Everi Holdings Inc. (EVRI) How It Makes Money

The company primarily generates revenue by providing a diverse range of products and services to the gaming industry, including financial technology solutions, gaming content, and compliance services.

Revenue Breakdown

Here's a look at the revenue streams that drive the company:

Business Economics

The company's business economics are influenced by several factors:

• Pricing Strategies: The company employs various pricing models, including outright sales, recurring revenue models (such as software-as-a-service), and transaction-based fees.
• Economic Fundamentals: The health of the gaming industry significantly impacts the company's revenue. Factors such as consumer spending, tourism, and regulatory changes play a crucial role.
• Gaming Operations: The company focuses on expanding its installed base of gaming machines and increasing its share of wallet within existing casinos.
• FinTech Solutions: The company aims to grow its network of ATMs and other financial kiosks in casinos, as well as expand its payment processing services.

Financial Performance

The company's financial performance can be assessed through the following points:

• In the fiscal year 2024, the company reported a revenue of $835.3 million, up 10.8% compared to $753.5 million in the fiscal year 2023.
• The company's net income for the fiscal year 2024 was $126.5 million, compared to $104.9 million for the fiscal year 2023.
• Adjusted EBITDA for the fiscal year 2024 increased to $430.3 million compared to $393.9 million for the fiscal year 2023.
• The company's free cash flow for the fiscal year 2024 was $223.4 million.
• As of December 31, 2024, the company had $287.9 million in cash and cash equivalents.

To gain more insight into the investors and stakeholders, check this out: Exploring Everi Holdings Inc. (EVRI) Investor Profile: Who’s Buying and Why?

Everi Holdings Inc. (EVRI) Market Position & Future Outlook

Everi Holdings is strategically positioned to capitalize on the growing demand for cashless and mobile gaming solutions, while also navigating the challenges of a competitive market and evolving regulatory landscape. The company's focus on innovation and expansion into new markets underpins its future outlook.

Competitive Landscape

Opportunities & Challenges

Industry Position

Everi Holdings maintains a strong foothold in the gaming industry, particularly known for its financial technology solutions and compliance offerings. Its industry standing can be further elaborated through the following points:

• Focus on innovation and development of new products, such as its cashless gaming solutions, positions the company as a forward-thinking player.
• Expansion into new markets and strategic partnerships enhances its competitive edge.
• Compliance solutions are critical in the gaming industry, and Everi’s expertise in this area provides a significant advantage.

For more detailed insights into the company's financial performance, you might find this resource helpful: Breaking Down Everi Holdings Inc. (EVRI) Financial Health: Key Insights for Investors