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Howard Stutz
 

Merger costs send Everi Holdings to quarterly loss

4 November 2015

The effects of last year's $1.2 billion buyout of slot machine maker Multimedia Games is still being felt by Everi Holdings.

The Las Vegas-based company — formerly known as Global Cash Access — reported a net loss of $6.1 million in the third quarter Tuesday, due primarily to merger costs. The figure translated into a 9 cents per share net loss.

Everi's overall revenue was $208.7 million for the quarter that ended Sept. 30 , compared to $145.5 million a year ago which didn't include Multimedia Games.

Everi CEO Ram Chary said the company, which also provides casinos with cash management systems and financial transaction equipment, said increased revenue was "driven primarily by an increase in ATM transactions and record demand for our integrated kiosks."

Chary said the addition of Multimedia Games has allowed the company to secure "new customer agreements that are directly related to our ability to leverage existing relationships to cross sell games and payments solutions."
Merger costs send Everi Holdings to quarterly loss is republished from CasinoVendors.com.