Pandemic disruption causes delay in Everi quarterly earnings Howard Stutz, CDC Gaming Reports · May 5, 2020 at 11:38 am Gaming equipment provider Everi Holdings said disruption to the company because of the COVID-19 pandemic would delay the reporting its first-quarter earnings. In a filing with the Securities and Exchange Commission Tuesday, Everi said its report on earnings for the quarter that ended March 31 would not be ready by Monday’s deadline. Las Vegas-based Everi, which provides casinos with gaming products and systems for financial technology transactions and player loyalty programs, has been hit hard by the impact from the nationwide casino closures due to the pandemic. “Such impacts include … the institution of social distancing and sheltering in place requirements in many states and communities where the company and its customers operate,” Everi said in the filing, “resulting in temporary closures of nearly all of the company’s casino customers, significantly impacting demand for the company’s products and services.” Everi implemented targeted furloughs and company-wide salary reductions in March in an effort to preserve the company’s cash on hand. Last month, Everi secured a $125 million financing agreement and obtained changes in the company’s credit agreements with its existing lenders. In March, the company drew down $35 million on its revolving credit facility to provide additional near-term liquidity and canceled or delayed material capital expenditures. The drawdown gave Everi $161 million in total liquidity. Adding the loan – $118 million after fees, discounts, and expenses – boosted the company’s balance sheet. Everi said in the SEC filing it issued a work from home policy. “The office closures, employee furloughs, and work from home policy have, in turn, caused a delay in the preparation and filing of the quarterly report,” the company said. A time frame for reporting results was not disclosed. Shares of Everi, traded on the New York Stock Exchange, closed at $4.61, down 7 cents or 1.6% on Tuesday, Howard Stutz is the executive editor of CDC Gaming Reports. He can be reached at firstname.lastname@example.org. Follow @howardstutz on Twitter.