Everi Holdings sees FY24 adjusted EBITDA down from 2023

The company said, “Everi updated its outlook for 2024 and now expects Adjusted EBITDA to be down from 2023 primarily reflecting the ongoing near-term challenges that are impacting the Games segment but expects improvement in the second half of the year as new cabinets and new content continue to gain traction with customers. The business is also expected to benefit from new product introductions including the initial commercialization of video lottery terminals and the entrance into new international jurisdictions. The Company’s FinTech segment is expected to be relatively flat year-over-year in the second quarter and return to year-over-year growth in the second half of the year. Everi expects Free Cash Flow to be down compared to 2023 with capital expenditures for the year flat to up slightly compared with 2023, cash interest flat with 2023, and cash taxes of $15 million to $20 million.”