Indy Q&A: Everi CEO sees opportunity through slot machine and cashless gaming deals
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Randy Taylor took over as CEO of Everi Holdings in April. He had been the controller of Global Cash Access and the chief financial officer of Multimedia Games. Everis is a provider of cashless gaming technology and a slot machine manufacturer. It has more than 17,700 slot machines in commercial and tribal casinos. Its mobile wallet is being used or being readied for deployment in seven casino companies operating at 38 properties in 14 states. It was launched at Sky River Casino near Sacramento in partnership with Boyd Gaming. In the third quarter that ended Sept. 30, Ever had more more 1,300 more games than in the previous quarter.
Everi CEO sees opportunity through slot machines and cashless gaming deals.
Before COVID, Everi was working on the FinTech side to improve their mobile wallets. People are using mobile wallet technology more and more in casinos. Everis believes it's additive to the financial transaction process and evolutionary rather than revolutionary.
Everi's gaming revenue is about 60% of the company's quarterly EBITDA, while FinTech revenue makes up 40%. The figure is closer to 50-50 if used cash flow.
The company's slot machine mix has changed from tribal casinos to commercial casinos. It's probably about 60 percent to 40 percent favoring Class 2.
Everi offers the customer loyalty pieces and handle the cash transactions. Everi doesn't have to partner with any other company.
Everi has been active in the past couple of years in acquiring several small businesses. They have been working on customer loyalty programs and historical horse racing machines. Venuetize has a mobile application for hospitality and sports venues. Everi thinks there will be the continued growth of mobile applications on the FinTech side.
