Everi Holdings reports net loss of $8.3M

Las Vegas-based casino equipment provider Everi Holdings reported its third quarter performance Wednesday, with revenues of $222.2 million and a net loss of $8.3 million.

Everi’s shares took a hit in the third quarter, with a loss of 12 cents per share.

Revenue from electronic game sales jumped from $10.8 million this period last year to $14.8 million, driven by the sale of 783 new gaming units. Everi sold 587 new gaming units during the same period last year.

Meanwhile, revenues from gaming operations were slightly down compared to last year. The company reported $41.4 million in revenue from gaming operations in its third quarter, compared to $43.2 million in the third quarter of 2015.

Everi President and CEO Michael Rumbolz said in a statement that the company is working to grow revenues and “optimize” their cost structure in order to create “incremental value” for shareholders.

“The recent Global Gaming Expo was our most productive trade show ever, as we showcased innovative products to provide casino operators increased player engagement and time on device as well as more efficient operations. We remain focused on our customers’ needs, and the initial customer feedback and interest we received at G2E provide a clear indication that the industry is beginning to recognize the benefits from our investments in casino floor technology innovation,” Rumbolz said in the statement.

Everi Holdings is formerly Global Cash Access Holdings.