Benzinga | Jun 21, 2021 10:26AM EDT

Everi Stock Gains On Upbeat Q2 Outlook

* Casino gaming content provider Everi Holdings Inc (NYSE:EVRI) has announced expected results for the second quarter.

* Everi also plans to refinance its $35 million revolving credit facility due 2022 and $820 million term loan facility due 2024, prepay in full its $125 million incremental term loan facility due 2024 and redeem the $285.4 million of Unsecured Notes due 2025.

* The Company expects to have $1.0 billion of total outstanding debt and have a new $125 million revolving credit facility after refinancing its $1.15 billion debt.

* Everi sees Q2 FY21 revenue between $167 million to $172 million, up 25% year-on-year from pre-pandemic Q2 FY19.

* It expects EPS of $0.31-$0.34, a more than a fourfold increase compared to $0.07 per share in Q3 FY19.

* It sees adjusted EBITDA of $87 million to $91 million, about a 38.8% increase Y/Y from FY19.

* Free Cash Flow is expected to be $32 million to $36 million.

* Everi's cash and cash equivalents stood at $360.8 million as of May 31, 2021.

* "Both our Games and FinTech segments are performing significantly above pre-pandemic periods, driving substantial improvements in our total revenue, net income, Adjusted EBITDA, and Free Cash Flow," said Michael Rumbolz, Chief Executive Officer.

* Price action: EVRI shares are trading higher by 4.57% at $22.18 on the last check Monday.