PlayAGS, Inc. - AGS STOCK NEWS

AGS, a leading supplier of gaming products to casinos, has been recognized as one of the 2024 Best and Brightest Companies to Work For in the Nation and Atlanta by the National Association for Business Resources (NABR) for the eighth consecutive year. The company has also been named to the 2024 Top Workplaces lists in Las Vegas, Atlanta, and Oklahoma.

Additionally, AGS received the 2024 Top Workplaces Culture Excellence Awards across its U.S. locations for Innovation, Work-Life Flexibility, Compensation & Benefits, Leadership, and Purpose & Values. These awards are based on employee feedback and highlight AGS' commitment to fostering a positive company culture.

AGS President and CEO David Lopez emphasized the importance of their people-first culture in driving the company's success. The company has also been recognized on U.S. News & World Report's 'Best Companies to Work For' list in the travel and leisure industry and has received the HIRE Vets Medallion Award from the U.S. Department of Labor since 2018.

PlayAGS, Inc. (NYSE: AGS) is set to showcase its latest gaming innovations at the Oklahoma Indian Gaming Association (OIGA) trade show on August 13-14, 2024. Key highlights include:

Bonus Spin™ Xtreme: A new progressive side bet system for poker rooms, featuring an embedded table display.

Premium slot games: The debut of 'Moo Cluck Oink™', a farm-themed game on the Spectra UR43 Premium™ cabinet.

Spectra™ core games: An extensive portfolio on Spectra UR43™ and UR49™ cabinets, including the top-performing 'Money Charge Ying Da™'.

Revel™: A three-reel mechanical stepper with new games like Triple Treasure™ and Liberty Diamond™.

AGS, with roots in Oklahoma's tribal gaming markets, continues to maintain strong ties to the community, operating its primary manufacturing hub in the state.

PlayAGS, Inc. (NYSE: AGS), a leading supplier of gaming products, announced that its stockholders have approved the acquisition by Brightstar Capital Partners at a special meeting held on August 6, 2024. The transaction is expected to close in the second half of 2025, subject to regulatory approvals and customary closing conditions. Upon completion, AGS will become a privately held company, and its common stock will be delisted from public markets.

AGS is known for its diverse mix of gaming experiences, including high-performing slot products, table games, and online casino content. Brightstar Capital Partners, the acquirer, is a middle market private equity firm focused on industrial, manufacturing, and services businesses.

Emmett Investment Management, owning 1.5% of PlayAGS (NYSE: AGS) stock, opposes the take-private transaction with Brightstar Capital Partners, deeming it undervalued. They cite AGS's Q1 results showcasing a 21% growth in adjusted EBITDA, improved business segments, and potential future benefits from the IGT/Everi merger. Emmett highlights that the $12.50 per share bid undervalues the company, arguing AGS could achieve a $24.70 share price as a standalone entity. They advocate AGS shareholders vote against the proposal.

AGS, a global gaming supplier, has entered into a definitive agreement to be acquired by Brightstar Capital Partners for approximately $1.1 billion. The acquisition provides AGS shareholders with $12.50 per share in cash, representing a 41% premium to the Company's average share price. The transaction is expected to close in the second half of 2025, subject to regulatory approvals and shareholder approval.

PlayAGS, Incorporated (NYSE: AGS) is set to announce its first-quarter financial results on May 9, 2024, following the market close. The company will host an investor conference call and live webcast on the same day to discuss its financial performance. Participants can pre-register for the call to receive immediate access details. Those unable to pre-register can join the call using the provided phone numbers. A webcast replay will be available on the company's website for 30 days after the event.

AGS unveils its first mechanical reel cabinet at the 2024 Indian Gaming Association trade show, showcasing a diverse lineup of new products including classic three-reel games, core and premium games, online gaming advancements, and innovative table products.

PlayAGS, Inc. (AGS) reported strong fourth-quarter 2023 results with total revenue up by 15% year-over-year to $94.2 million. The company achieved record revenue across all three operating segments: EGM, Table Products, and Interactive. Income from operations increased by 19% year-over-year to $16.0 million, with net income totaling $67 thousand. Total Adjusted EBITDA reached a record $42.8 million, with a margin exceeding 45%. Cash from operating activities totaled $26.4 million, with free cash flow exceeding $10 million for the third consecutive quarter. AGS aims to reduce net leverage to 2.75x to 3.00x by the end of 2024.

Caesars Entertainment, Inc. (CZR) and PlayAGS, Inc. celebrate the exclusive launch of Rakin’ Bacon Odyssey in New Jersey, marking the first cross-platform debut of the popular slot game. The game is now live at Caesars Palace Online Casino and various Atlantic City locations, offering players a unique omnichannel experience. Lady Luck HQ, a prominent gaming influencer, joined the launch event, emphasizing the game's popularity and the strategic partnership between Caesars and AGS.