{"id":175110,"date":"2021-05-30T15:42:27","date_gmt":"2021-05-30T22:42:27","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=175110"},"modified":"2021-07-05T02:43:40","modified_gmt":"2021-07-05T09:43:40","slug":"everi-stock-has-ingredients-for-more-upside-thanks-to-fintech-biz","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/everi-stock-has-ingredients-for-more-upside-thanks-to-fintech-biz\/","title":{"rendered":"Everi Stock Has Good Vibes, Analyst Sees Lot More Upside"},"content":{"rendered":"

Quietly, Everi Holdings (NYSE:EVRI) stock is one of this year’s best-performing gaming equities. Even with a 50.11 percent 2021 gain, the slot manufacturer and Fintech purveyor offers much more upside, according to one analyst.<\/p>\n

\"Everi
The Hard Rock Casino in Gary, Indiana. The venue is a client of Everi, a stock that’s on fire. (Image: Daily Advent<\/em>)<\/figcaption><\/figure>\n

In a recent note to clients, B. Riley’s David Bain not only reiterates a \u201cbuy\u201d rating on Everi, he lifts his second-quarter earnings before interest, taxes, depreciation and amortization (EBITDA) forecast on the name, while boosting his price target to $33. That implies upside of more than 59 percent from the May 28 close. The stock settled just 2.49 percent below its all-time high last Friday and surged 10.21 percent last week.<\/p>\n

“We note checks with tribal contacts cite a potential increase in slot buying, particularly at the end of the year (many tribes run on an October year-end, at which time slot managers will receive a new yearly budget),\u201d said the analyst. \u201cChecks also cite drivers, such as the vaccine roll-out, close-to-home entertainment, and loosening measures offering continued\/sustainable gaming strength.\u201d<\/p><\/blockquote>\n

Tribal clients are a significant percentage of Everi’s revenue. But the Las Vegas-based company also does business with some of the biggest commercial gaming operators. For example, Caesars Palace on the Strip is testing Everi’s Jackpot Xpress<\/a> — a system used to track slot winnings and make submission of that data to the IRS more efficient.<\/p>\n

Everi Stock Still Fantastic Fintech Story<\/h2>\n

A major part of the Everi investment thesis is the company’s Fintech offerings, and that’s underpinned by the move to cashless gaming<\/a> at casinos across the country \u2013 one hastened by the coronavirus pandemic.<\/p>\n

As B. Riley’s Bain points out, Everi will be the Fintech provider at Resorts World Las Vegas, which is slated to open on June 24. The aforementioned Caesars Palace deal is also relevant because prior to the merger that created \u201cnew Caesars,\u201d Everi had an established relationship with Eldorado Resorts, while \u201cold Caesars\u201d had multiple Fintech relationships. Eldorado management runs Caesars Entertainment.<\/p>\n

Those aren’t the only reasons Everi stock could offer more upside. In fact, catalysts could be waiting in the wings.<\/p>\n

\u201cWe believe EVRI continues in advanced-stage discussions with several multi-property, multi-jurisdictional operators about digital wallet installations,\u201d said Bain.<\/strong><\/p>\n

Florida State of Mind<\/h2>\n

By way of the Hard Rock Casino in Indiana, Everi has a relationship with the Seminole Tribe \u2013 one of the largest tribal operators in the US. Bain, the B. Riley analyst, says that relationship could expand significantly if sports wagering gets off the ground in Florida.<\/p>\n

\u201cThe Seminoles have adopted EVRI’s digital wallet. If the compact structure is ultimately approved, we believe any ‘skin’ or operator of online sports betting in Florida would offer the Seminole-branded wallet (backboned by EVRI Fintech) as a payment option,\u201d said the analyst.<\/strong><\/p>\n

Recently, Florida’ lawmakers passed a massive revenue sharing compact with tribal casinos, authorizing regulated sports betting<\/a> in the process. Under the terms of the agreement, the Seminoles have exclusivity on mobile sports wagering.<\/span><\/p>\n

However, challenges linger because outside groups assert that Florida’s state constitution mandates that voters approve any form of gaming expansion, including sports betting.<\/p>\n","protected":false},"excerpt":{"rendered":"

Quietly, Everi Holdings (NYSE:EVRI) stock is one of this year’s best-performing gaming equities. Even with a 50.11 percent 2021 gain, the slot manufacturer and Fintech purveyor offers much more upside, according to one analyst. In a recent note to clients, B. Riley’s David Bain not only reiterates a \u201cbuy\u201d rating on Everi, he lifts his […]<\/p>\n","protected":false},"author":46,"featured_media":175112,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,16693],"tags":[],"acf":[],"yoast_head":"\nEveri Stock Has Ingredients for More Upside Thanks to Fintech Biz<\/title>\n<meta name=\"description\" content=\"Everi stock could be a big winner as slot machine demand recovers and fintech opportunities take off.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Everi Stock Has Ingredients for More Upside Thanks to Fintech Biz\" \/>\n<meta property=\"og:description\" content=\"Everi stock could be a big winner as slot machine demand recovers and fintech opportunities take off.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/everi-stock-has-ingredients-for-more-upside-thanks-to-fintech-biz\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-30T22:42:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-07-05T09:43:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/everi.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/everi-stock-has-ingredients-for-more-upside-thanks-to-fintech-biz\/\",\"url\":\"https:\/\/www.casino.org\/news\/everi-stock-has-ingredients-for-more-upside-thanks-to-fintech-biz\/\",\"name\":\"Everi Stock Has Ingredients for More Upside Thanks to Fintech Biz\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/everi-stock-has-ingredients-for-more-upside-thanks-to-fintech-biz\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/everi-stock-has-ingredients-for-more-upside-thanks-to-fintech-biz\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/everi.jpg\",\"datePublished\":\"2021-05-30T22:42:27+00:00\",\"dateModified\":\"2021-07-05T09:43:40+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Everi stock could be a big winner as slot machine demand recovers and fintech opportunities take off.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/everi-stock-has-ingredients-for-more-upside-thanks-to-fintech-biz\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/everi-stock-has-ingredients-for-more-upside-thanks-to-fintech-biz\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/everi-stock-has-ingredients-for-more-upside-thanks-to-fintech-biz\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/everi.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/everi.jpg\",\"width\":1280,\"height\":720,\"caption\":\"The Hard Rock Casino in Gary, Indiana. 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