Everi promotes Randy Taylor to president; Mike Rumbolz extends CEO contract by 14 months

Copyright CDC Gaming Reports
Howard Stutz has over 30 years of experience reporting on the gaming industry.

Gaming equipment provider Everi Holdings named Randy Taylor to a newly created position as president and chief operating officer on Monday in a move the company’s chairman said would “fortify” short-term and long-term strategic efforts.

Taylor, who had been Everi’s CFO since 2014, will oversee day-to-day operations of the Las Vegas-based company which provides gaming, financial and player loyalty products and systems and to the casino industry.

Randy Taylor, Everi

Also Monday, Everi announced that CEO Mike Rumbolz agreed to extend his contract through March 2022 and will focus on Everi’s long-term growth initiatives. Rumbolz’s employment agreement was due to expire in March 2021.

“These changes to the executive management team fortify our leadership capabilities and are the result of our organizational development and succession planning initiatives,” Everi Chairman Miles Kilburn said in a statement. “Under Mike’s leadership, Everi has distinguished itself in recent years with its success and strong operating performance, while creating and fostering a culture that emphasizes innovation and collaboration.”

Mark Labay was named Everi’s new CFO and David Lucchese was named executive vice president of sales, digital, and marketing.

Everi said the appointments are effective as of April 1.

Taylor, who originally joined Everi’s predecessor company in 2011 as corporate controller, spent 10 years in various finance and accounting roles at Citadel Broadcasting Corporation. His previous gaming industry experience included roles at Aladdin Gaming, Showboat, and Bally Technologies.

Rumbolz said Taylor has provided “direct oversight” in several key initiatives for Everi, financial allocations to both the company’s games and financial technology divisions, and several acquisitions.

“Randy has been instrumental in driving Everi’s success and positioning it for continued growth,” Rumbolz said. said Mr. “His experience and attention to detail will help to further improve our day-to-day focus and financial performance.”

Labay has been with Everi for more than 17 years, most recently serving under Taylor as senior vice president for finance and investor relations since 2014. Lucchese will be responsible for Everi’s global sales efforts and will continue to oversee the growth of the company’s digital operations. He replaces Edward Peters who is retiring.

Everi said last week it grew revenues 14% to $533.2 million during all of 2019 and cash flow jumped 10% to $253.2 million. In the quarter that ended Dec. 31, Everi grew revenues 22% to $145.2 million.

Shares of Everi closed at $7.29 Monday on the New York Stock Exchange, down 93 cents to 11.31%. The decline was due largely to the markets’ nosedive over coronavirus fears. The Dow fell more than 2,000 points Monday.