Everi Holdings reports loss of $86.6 million in Y15Q4

U.S.-based Everi Holdings Inc. reported a loss of $86.6 million for the three months to Dec. 31, 2015, up 34.4 percent from the prior-year period.

The company reported its fourth quarter results on Tuesday, which included the financial report of two divisions, one covering the original cash processing technology business, the other the multimedia games’ segment, which handles systems, content and electronic gaming units for casinos.

Everi, previously known as Global Cash Access Holdings Inc reported fourth quarter revenue at $50.5 million from its games segment, and a 6 percent increase in revenue from its cash handling segment, to $153.9 million.

EBITDA increased 91.3 percent year on year to $45.9 million, however, net loss increased to $86.6 million, compared to $5.7 million in Y14Q4.

On a per-share basis, the company said it had a loss of $1.31 per share.

According to the company, total revenue for the year was $827 million, up 39.4 percent year-on-year, with the games segment increasing to $214.4 million, compared to $7.4 million in 2014. The cash handling segment went up 4.6 percent to $612.6 million.

“Our results for the 2015 full year reflect growth in both our games and payments businesses,” said Michael Rumbolz, Everi’s interim president and chief executive. “Our payments business is benefiting from sustained improvements in gross gaming revenue as a result of a stronger consumer environment,” he added.