Casino technology supplier Everi Holdings Ltd has appointed Kate Lowenhar-Fisher as executive vice president, chief legal officer – general counsel, and corporate secretary. The appointment is effective from March 22, subject to regulatory approvals.
Ms Lowenhar-Fisher will have responsibility for the company’s legal and regulatory compliance affairs. She will report to Everi’s chief executive, Michael Rumbolz, the company said in a press release issued on Monday.
The firm stated that “Ms Lowenhar-Fisher brings extensive expertise in the casino gaming industry to Everi, including more than 18 years of corporate legal and regulatory compliance experience on behalf of gaming equipment suppliers and casino operators.”
She most recently served as an equity member in the Las Vegas office of law firm Dickinson Wright PLLC, where she chaired the gaming and hospitality practice group.
Commenting on the appointment of Ms. Lowenhar-Fisher, Everi’s CEO Mr Rumbolz said her “extensive experience across a comprehensive range of corporate issues and deep knowledge of the gaming industry’s unique regulatory and compliance standards” would be “vital assets” for Everi.
Everi slipped to a US$82.1-million loss in 2020, compared to making a US$17.7-million profit in 2019, amid what it described as the “continued impact from the Covid-19 pandemic and related casino closures”. But in the fourth quarter, the group’s net income improved year-on-year, the firm said earlier this month. Such income for the three months to December 31 was positive by US$1.1 million, versus a US$4.1 million loss in the prior-year period.
Fitch Ratings Inc said on Friday it expected earnings before interest, taxation, depreciation and amortisation (EBITDA) at Everi “to recover toward pre-pandemic levels by year-end 2021”. The credit ratings agency said such performance would be “aided in part by the company’s cost cutting initiatives during the pandemic.”
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