Playags Stock Price, News & Analysis

PlayAGS (NYSE: AGS) has announced preliminary financial results for Q4 and full-year 2021, showcasing revenues of $68.4 million for Q4 and $258.6 million for the year, compared to $46.6 million and $167 million, respectively, in 2020. The company is exploring refinancing options for its credit facilities, which could involve over $50 million from its cash reserves. Despite a net loss of $11.6 million in Q4, AGS aims to achieve a net leverage ratio below 4.0x by the end of 2022, driven by continued operational momentum across its business segments.

A Pennsylvania woman, Lisa Piluso, has filed a lawsuit against American Gaming Systems (AGS), claiming they denied her a $100,000 jackpot from the Capital Gains game due to a reported bug in the game. The lawsuit, filed by attorney Paul R. D'Amato, alleges consumer fraud and breach of contract. Piluso stated that she was initially confirmed to have won the jackpot but was later informed of the bug. Following unsuccessful attempts to collect her winnings, she seeks accountability from AGS and greater transparency from state regulators.

PlayAGS reported Q3 2021 results showing significant recovery compared to previous quarters, with total revenue reaching $67.3 million, marking a 36.5% increase year-over-year. Domestic EGM revenue per day rose 23.9% to $31.08, indicating improved business momentum. The net loss shrank to $1.8 million from $11.1 million in Q3 2020, reflecting operational improvements and lower expenses. Total Adjusted EBITDA was $31.9 million, with a margin of 47.4%. The company's liquidity stood at approximately $118 million, and net leverage reduced to 4.7x as of September 30, 2021.

Game Play Network (GPN) announced a game publication agreement with AGS (NYSE: AGS) to integrate AGS's remote game server and games into GPN's B2C website and mobile app. This partnership aims to enhance GPN's offerings, including popular titles like Fu Nan Fu Nu and Rakin' Bacon! AGS's CEO emphasized their rich game catalog's potential in both land-based and online markets. GPN's patented platform allows for real money wagers on live horse races, expanding access to iGaming across the U.S., significantly increasing their addressable market.

AGS announced an investor conference call on November 4, 2021, at 5 p.m. EDT, to discuss its financial results for the third quarter ending September 30, 2021. Participants can pre-register via a designated link for a quicker entry. Those unable to pre-register can still join by calling the provided numbers with Conference ID 790955. A live webcast will be available on AGS's website, with a replay accessible for 30 days post-event. AGS is a leading supplier of gaming products focused on delivering diverse gaming experiences.

AGS (NYSE: AGS) announced major achievements at the Global Gaming Expo (G2E) in Las Vegas on Oct. 5, 2021. Their Bonus Spin Xtreme™ system received the Gold award in the Gaming & Technology Awards, having previously won Silver in 2020. Additionally, Jamie Smith, Director of Sales – Table Games, was named among the 'Emerging Leaders of Gaming 40 Under 40.' AGS continues to strengthen its position in the gaming sector with innovations like Bonus Spin Xtreme, which can link all tables in a casino for a shared jackpot.

AGS (NYSE: AGS) is set to participate in the Global Gaming Expo (G2E) from October 5-7, 2021, at the Sands Expo in Las Vegas. The company will showcase its latest products, emphasizing a fun, engaging atmosphere filled with vibrant gaming characters. Highlights include innovative game configurations for its Slot products, award-winning Table Products like the Bonus Spin Xtreme, and a growing library of games available for i-Gaming operators. AGS aims to reconnect with customers after two years, focusing on delivering top-notch gaming experiences.

AGS reported strong second-quarter results for 2021, highlighting record domestic EGM revenue per day and gaming operations revenue. Total revenues surged to $66.8 million, up 298.1% from $16.8 million in Q2 2020, although down 10.3% from $74.5 million in Q2 2019. The company experienced a net loss of $3.9 million, a notable improvement from losses of $42.6 million in Q2 2020. Adjusted EBITDA reached $32.1 million, showcasing operational recovery post-COVID-19. Key growth was seen in the domestic gaming operations segment, contributing to 82.3% of total revenue. However, international operations faced challenges due to ongoing COVID-19 restrictions.