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Everi Holdings Inc. (NYSE:EVRI), a provider of entertainment and technology solutions for the gaming industry, disclosed its preliminary financial results for the first quarter ended March 31, 2025, today. The announcement, based on a recent SEC filing, revealed unaudited selected financial data for the period. The company, currently valued at $1.2 billion, has demonstrated strong market performance with a 63.52% return over the past year. According to InvestingPro data, Everi maintains impressive gross profit margins of 79.18%, suggesting robust operational efficiency.
The Las Vegas-based company, which operates within the miscellaneous amusement and recreation services sector, is currently involved in a significant transaction. As part of a proposed deal announced on July 26, 2024, Everi and International Game Technology (NYSE:IGT) PLC’s Gaming & Digital business are set to be acquired by a new holding company backed by funds managed by affiliates of Apollo Global Management (NYSE:APO), Inc.
In preparation for discussions with potential lenders to finance this transaction, Everi has shared these preliminary results. The company, however, has clarified that the information, including the financial results, should not be considered as filed for regulatory purposes, nor should it be incorporated into any future filings under the Securities Act or the Exchange Act.
The forward-looking statements within the report, which include the preliminary financial estimates for the quarter, are subject to a number of risks and uncertainties. Everi has noted that actual outcomes could significantly differ from those projected due to various factors detailed in their SEC filings, including their Annual Report on Form 10-K.
Everi Holdings has not expressed any intention to update these forward-looking statements, except as legally required. The company’s latest financial estimates are available in the SEC filing, which serves as the source for this information. The details of the proposed transaction, including its structure and the parties involved, are also outlined in the filing, which is publicly accessible.
Investors and interested parties are encouraged to refer to Everi’s SEC filings for a more comprehensive understanding of the company’s risks and uncertainties, as well as the potential effects on its financial and operational results. For deeper insights into Everi’s financial health and future prospects, InvestingPro subscribers can access detailed analysis, including 10+ additional ProTips and a comprehensive Pro Research Report, which transforms complex financial data into actionable intelligence for smarter investment decisions. The next earnings announcement is scheduled for May 13, 2025.
In other recent news, Everi Holdings Inc. has reappointed Michael D. Rumbolz as Executive Chair of the Board, effective April 1, 2025. This executive leadership decision is part of Everi’s strategic plan as it approaches a significant merger. Rumbolz will receive a monthly cash compensation of $12,500 and a potential discretionary cash bonus of $50,000, contingent on specific goals. Additionally, he will receive equity compensation valued at approximately $205,000, subject to certain conditions related to the merger agreement.
In another development, Stifel analysts have maintained their Hold rating on Everi Holdings with a price target of $14.25. This decision follows a review of Everi’s fourth-quarter financials, which were recently disclosed in a 10-K filing. Stifel’s analysis indicates that the risks associated with Everi’s acquisition by Apollo remain low, with the acquisition expected to close in the third quarter of 2025. The firm’s price target aligns with Apollo’s cash offer for the acquisition, providing investors with a consistent valuation outlook.
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