Welcome to our dedicated page for Playags news (Ticker: AGS), a resource for investors and traders seeking the latest updates and insights on Playags stock.
The AGS (formerly NYSE: AGS) news feed on Stock Titan aggregates company updates, press releases, and regulatory disclosures related to PlayAGS, Inc., a global gaming supplier of slot, table, and interactive products. These items document how AGS describes its evolution from a Class II Native American gaming specialist into a broader commercial gaming supplier with land-based and online offerings.
News coverage for AGS includes announcements about new slot cabinets and game families, table game progressives and shufflers, and developments in its interactive division, AGSi. Releases highlight product showcases at major trade shows, partnerships with casino operators, and recognition from independent industry reports and awards. Together, these updates illustrate how AGS positions its portfolio of Class II and Class III slot products, table systems, and online content within the global gaming industry.
Another key theme in AGS-related news is corporate activity. Articles and filings describe the agreement for affiliates of Brightstar Capital Partners to acquire PlayAGS, Inc., the closing of that transaction, and the subsequent steps to delist and deregister the company’s common stock from the New York Stock Exchange. These items provide context for the transition of AGS from a publicly traded issuer to a privately held company.
Investors and industry observers can use this news page to review historical announcements about AGS’ product launches, strategic partnerships, and corporate transactions. The archive offers a centralized view of how the company has communicated its growth, market focus, and ownership changes over time.
LAS VEGAS, Dec. 16, 2020 /PRNewswire/ -- AGS has received a provisional iGaming supplier license from the Michigan Gaming Control Board. This license enables AGS to offer its engaging game content to licensed online casino operators in Michigan once iGaming is launched, anticipated in late 2020 or early 2021.
AGS plans to utilize its Remote Gaming Server to deliver a variety of high-performing games. The company is optimistic about the Michigan market, citing established player familiarity with its offerings due to their success in land-based casinos.
AGS (NYSE: AGS) announced new leadership in its Slot Products team, appointing Steve Walther as Senior Director and Amy Greene as Director of Gaming Operations. Both have extensive industry experience. Walther, previously at Konami Gaming, will oversee product planning and market strategies, while Greene will manage recurring revenue and capitalize on game performance. This restructuring aims to enhance AGS's product management and market penetration, focusing on high-performing gaming products, indicating a strategic move towards growth in the gaming industry.
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PlayAGS reported third-quarter 2020 financial results, highlighting a 37.9% year-over-year revenue decline to $49.3 million. The EGM segment faced a 40.1% revenue drop, largely due to COVID-19 impacts. However, the company achieved a free cash flow positive quarter and improved liquidity of $113.2 million. Net loss was $11.1 million, a significant improvement from $42.6 million the previous quarter. Encouragingly, the interactive segment grew 59.5% year-over-year, driven by increased real-money gaming revenue. AGS leaders express optimism regarding future product pipelines.
AGS will host an investor conference call and live webcast on November 5, 2020, at 5 p.m. EST to discuss its Q3 2020 results. Participants are encouraged to pre-register here. Those unable to pre-register can join via the provided conference numbers. A replay of the webcast will be available shortly after the event.
AGS has appointed Brad Boyer as Vice President of Investor Relations, Corporate Development & Strategy. With over 10 years of expertise in the Gaming sector and strong investor relationships, Boyer's experience is expected to enhance AGS's business strategies, particularly in M&A evaluations. Previously a Vice President at Stifel, he led coverage of gaming and hospitality sectors. AGS aims to diversify its offerings in Class II and Class III gaming products, supporting its goal to be a leading gaming supplier.
AGS reported significant declines in its financial performance for Q2 2020, with total revenues of $16.8 million, down 77.5% year-over-year. EGM revenues plummeted by 80.3% to $13.9 million, while Table Products fell 72.1%. A net loss of $42.6 million represented a 464.2% increase from the previous year's loss. The company improved liquidity by borrowing $125 million amid ongoing COVID-19 impacts, while Interactive segment revenue surged 94.1%. AGS remains confident in its long-term strategy.
AGS (NYSE: AGS) will host an investor conference call and live webcast on August 5, 2020, at 5 p.m. EDT to discuss its Q2 2020 results. Interested participants can pre-register using the provided link for immediate access. Those unable to pre-register may call +1 888-349-0106 (Toll Free) or +1 412-902-0131 (International) with Conference ID: AGS Q2 2020 Earnings Call. The live webcast can be accessed through AGS's website.
AGS (NYSE: AGS) has announced a virtual option for its 2020 Annual Meeting of Stockholders set for July 1, 2020, at 8 a.m. PDT in Las Vegas. This decision comes in response to ongoing COVID-19 concerns. Stockholders are encouraged to attend virtually via a dedicated online platform, using a 16-digit control number provided with their notice. In-person attendees will be subject to health screenings and are advised to wear masks. AGS emphasizes its commitment to maintaining safety while facilitating shareholder engagement.