AGS Names David Jacques Farahi To Its Board Of Directors

Rhea-AI Summary

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.

Positive

• Appointment of David Jacques Farahi adds significant industry experience to AGS's Board.
• Farahi's proven track record in operational improvements and investor relations could enhance AGS's strategic direction.
• His leadership experience in both gaming operations and finance may drive increased operational efficiency.

Negative

• None.

Experienced Gaming Executive Increases Depth of AGS Board

LAS VEGAS, July 12, 2022 /PRNewswire/ -- AGS (NYSE: AGS) (or the "Company") today announced that David Jacques Farahi has been elected to AGS' Board of Directors, and will serve on the Company's Nominating and Governance, Compensation and Audit committees.

Farahi serves as Executive Chairman of Quick Custom Intelligence since his appointment in 2022. Previously he served as Chief Operating Officer of Monarch Casino & Resort (Nasdaq: MCRI) from 2012 to 2021. Starting his gaming career at Monarch in 1998, Farahi held several additional roles including Director of Investor Relations, FP&A Analyst, as well as numerous positions within the slot and gaming operations departments. From 2004 to 2007 he held various finance industry roles with HSBC Bank PLC in London, Geneva, and New York. Farahi served four terms as President of the Colorado Gaming Association, from 2015 to 2021, where he spearheaded the industry's legislative agenda, including three successful state-wide ballot initiatives. In 2022, Farahi became an Adjunct Professor at Metropolitan State University Denver, teaching an introductory course on gaming and sports book management.

AGS President and Chief Executive Officer David Lopez said, "David is a seasoned industry executive with extensive experience in both the gaming operator and gaming regulator space. He has a proven track record of leading teams to operational improvements, integrating and scaling a substantial acquisition, and effectively communicating with the investment community. We believe his strong industry experience will be extremely valuable as we continue to grow, improve our operational efficiency, and strengthen our relationships with our casino operator partners."

Farahi said, "I have long admired the passion, grit, and ingenuity of the AGS team. Since its inception, AGS has uniquely approached operators as a true partner, developing products from slots to table games and beyond that delight players. I'm honored to be joining their board at such an exciting time for the business. I have tremendous respect for David Lopez, his executive team, and the other board members, and I look forward to collaborating with them to the benefit of our team, customers, and shareholders."

Farahi earned an MBA from Columbia Business School with concentrations in both Real Estate and Finance. He also holds a BA in Economics and International Studies from Northwestern University. He earned Dean's List honors from both institutions.

About AGS
AGS is a global company focused on creating a diverse mix of entertaining gaming experiences for every kind of player. Our roots are firmly planted in the Class II tribal gaming market, but our customer-centric culture and remarkable growth have helped us branch out to become one of the most all-inclusive commercial gaming equipment suppliers in the world. Powered by high-performing Class II and Class III slot products, an expansive table products portfolio, highly rated social casino, real-money gaming solutions for players and operators, and best-in-class service, we offer an unmatched value proposition for our casino partners. Learn more at playags.com.

AGS Investor & Media Contacts:

Brad Boyer, Senior Vice President Corporate Operations and Investor Relations
bboyer@playags.com

Julia Boguslawski, Chief Marketing Officer
jboguslawski@playags.com

©2022 PlayAGS, Inc. Products referenced herein are sold by AGS LLC or other subsidiaries of PlayAGS, Inc. Solely for convenience, marks, trademarks and trade names referred to in this press release appear without the ® and  ^TM and ^SM  symbols, but such references are not intended to indicate, in any way, that PlayAGS, Inc. will not assert, to the fullest extent under applicable law, its rights or the rights of the applicable licensor to these marks, trademarks and trade names.

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SOURCE AGS

FAQ

Who is David Jacques Farahi and what is his background?

David Jacques Farahi is the newly elected board member of AGS, serving as Executive Chairman of Quick Custom Intelligence. He has extensive experience in the gaming industry, including roles at Monarch Casino & Resort.

What is the significance of David Farahi's appointment to AGS's Board?

His appointment is expected to enhance AGS's strategic direction due to his vast experience in gaming operations and finance, which may lead to operational improvements.

When was David Jacques Farahi appointed to AGS's Board?

David Jacques Farahi was appointed to AGS's Board of Directors on July 12, 2022.

What committees will David Farahi serve on at AGS?

David Farahi will serve on the Nominating and Governance, Compensation, and Audit committees at AGS.

What roles did David Farahi hold before joining AGS's Board?

Before joining AGS's Board, David Farahi was the COO of Monarch Casino & Resort and has held various positions in gaming operations and finance.