From $204.3m in Q3 2022 in the three months till 30 September, Bet-at-home Q2 Revenue rose by 1.1% to $206.6m (£168.3m/€193.4m). By contrast, in Q2 this year Everi reported a 6% year-on-year revenue growth.

Q3 net income dropped from $29.4m to $26.6m in line with the corresponding quarter last year. At $96.2m against $96.6m in 2022, adjusted EBITDA in Q3 was rather flat year-on-year.

Headwinds in the gaming segment
Games category sales fell 1% to $111.5 million in the most recent quarter. Sales of gaming equipment and systems countered a 4.5% increase in gaming operations-related income.

For land-based casinos, gaming operations income rose from $69.9m to $71.9m; for igaming, from $5.1m to $6.5m. This was lessened, nevertheless, by declining sales of gaming equipment and systems between $37.5m and $33.1m.

Everi CEO Randy Taylor claimed that in games "lower unit sales and lower daily win per unit" harmed the numbers.

Total games sales rose from $323.2m to $332.0m year-on-year throughout the first nine months of 2023. From $ 254.0m to $283.7m, fintech revenues rose, increasing overall income from $577.2m to $615.8m.

But a growth in total expenses from $415.4m to $458.0m squeezed operating profits, which dropped from $161.8m to $157.8m.

Outlook and back to expansion
Everi thus revised its 2023 projection. At the lower end of preceding range, net income, profits per share, and free cash flow are predicted. Full-year net income was expected in August to be between $98m and $106m.

Taylor, nevertheless, hopes for a "return to growth next year and beyond". Everi's research and development investment and a "deep pipeline" of new cabinets and content will be essential to this.

He also stressed "positive feedback received for our newest product introductions".

Supported by over 80 new game themes, Everi is unveiling its next crop of for-sale and for-lease cabinets. Taylor claimed that this reflects "the most varied range of gaming content in the company's history".