Playags Stock Price, News & Analysis

PlayAGS announced a secondary public offering of 8,208,076 shares of common stock, managed by affiliates of Apollo Global Management. The offering will raise no proceeds for AGS, as it involves shares held solely by the Selling Stockholder. J.P. Morgan and B. Riley Securities are the underwriters, with shares offered at prevailing market prices or through negotiated transactions. The process adheres to legal requirements and is backed by an effective registration statement with the SEC, dated November 14, 2022.

PlayAGS reported a strong third quarter for 2022, with total revenues rising 16% year-over-year to $78.3 million. EGM sales surpassed 1,000 units for the first time since Q4 2019, with EGM revenue growing by over 15%. Domestic recurring revenue for EGMs reached $45 million, a 4% increase from the previous year. The company achieved net income of $476,000, reversing a loss from the prior year. Adjusted EBITDA rose 8% to $34.5 million, though margins compressed to 44.0% due to revenue mix changes. AGS aims for a net leverage ratio below 4.0 by year-end 2022.

AGS announced it will release its third quarter financial results for the period ended September 30, 2022, after market close on November 8, 2022. An investor conference call will follow at 5 p.m. EST on the same day, providing insights into the Company's financial performance and outlook. Participants are encouraged to pre-register for the conference call through the provided link to gain immediate access. The company's focus lies in enhancing gaming experiences across various markets, leveraging strong product offerings in Class II and Class III slot products.

AGS (NYSE: AGS) announced it will showcase innovative gaming products at the Global Gaming Expo (G2E) from Oct. 11-13, 2022, in Las Vegas. The highlight includes the launch of the Spectra UR43™ cabinet and 37 new slot games. AGS aims to demonstrate its product diversity and recent expansions in EGM, Table Products, and Interactive divisions. The company emphasizes its commitment to research and development, aiming to solidify its market position and attract more customers in both domestic and international markets.

In Q2 2022, AGS reported a 15% year-over-year revenue increase to $76.6 million, with net income of $1.5 million, marking the first profit since Q4 2019. The EGM segment grew by 15.2% to $70.5 million, driven by increased gaming operations revenue. Domestic EGM recurring revenue reached a record $46.2 million, while Adjusted EBITDA rose 6% to $34.1 million. Despite revenue growth, challenges included a 7.5% decline in interactive revenues and a slight decrease in Adjusted EBITDA margin due to rising costs. AGS aims to achieve year-end leverage target of less than 4.0x.

PlayAGS, Incorporated (NYSE: AGS) announced it will release its Q2 2022 financial results after market close on August 8, 2022. A conference call and live webcast will follow at 5 p.m. EDT to discuss the financial performance and outlook. Participants are encouraged to pre-register for the call to expedite access using a conference passcode. AGS continues to focus on delivering a diverse range of gaming experiences, catering to both Class II and Class III markets.

PlayAGS has announced its second quarter financial results will be released on August 9, 2022, after market close. A live conference call is scheduled for 5 p.m. EDT on the same day to discuss financial performance and business outlook. Participants are encouraged to pre-register for the call to gain immediate access. U.S. callers can reach the conference at +1 (844) 200-6205, while international participants can call +1 (929) 526-1599. The earnings call will also be available via webcast on the company's investor website.

AGS has appointed David Jacques Farahi to its Board of Directors, enhancing the board's expertise. Farahi, currently Executive Chairman of Quick Custom Intelligence, previously served as COO of Monarch Casino & Resort. He holds an MBA from Columbia and a BA from Northwestern. His experience includes leadership roles in gaming operations and finance, making him a strategic asset for AGS. CEO David Lopez highlighted Farahi's operational improvement skills and industry knowledge as beneficial for AGS's growth and efficiency goals.