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PlayAGS, Inc. (NYSE: AGS) is a dynamic global company specializing in providing a broad range of gaming solutions, including electronic gaming machines (EGM), table products, and interactive content. AGS has firmly established its roots in the Class II Native American gaming market and expanded into one of the most inclusive commercial gaming suppliers worldwide.
AGS's core offerings include high-performing Class II and Class III slot products, an expanding portfolio of table products, and robust server-based and back-office systems used by casinos globally. Their interactive segment features top-rated social casino solutions such as Lucky Play Casino and Vegas Fever.
In recent achievements, AGS has showcased its innovative spirit at the 2023 Global Gaming Expo (G2E) by unveiling new slot cabinets like the Spectra UR49C and Spectra UR43 Premium, marking significant steps in their journey to becoming a leading slot supplier. Their table products division has also introduced enhancements to their Bonus Spin™ Xtreme system and the new single-deck shuffler, Pax S®. The company’s interactive division, AGSi, has been expanding its footprint into new jurisdictions such as British Columbia, Italy, Romania, and West Virginia, and recently ranked #1 in Top Indexing New Online Slots.
Financially, AGS continues to demonstrate robust performance. In Q3 2023, they reported a 14% year-over-year increase in total revenue, hitting $89.4 million. This includes a 20% rise in interactive revenue and significant growth across all segments, positioning AGS for continued market expansion and innovation.
Through strategic partnerships, AGS has extended its market presence. The company recently collaborated with Caesars Entertainment to launch Rakin’ Bacon Odyssey® across its Atlantic City properties and online platform. Additionally, they have entered into a partnership with EQL Games to offer their interactive content to U.S. and Canadian iLottery players.
PlayAGS, incorporated (NYSE: AGS) will release its financial results for the first quarter ending March 31, 2023, after market close on May 9, 2023. A conference call and live webcast will follow at 5 p.m. EDT. Participants are encouraged to pre-register via the provided link. The call will include vital insights into AGS's financial performance and an opportunity for investors to engage. AGS, a global leader in gaming solutions, focuses on enhancing player experiences through a diverse product offering and exceptional service. Further details on the company and participation can be found on their website.
AGS (NYSE: AGS) announced its participation in the Indian Gaming Association Trade Show and Convention in San Diego from March 29-30, 2023. The company will showcase a range of innovative gaming products, including the top-performing Spectra UR43™ cabinet and several new game themes. AGS aims to connect with tribal partners and demonstrate its extensive portfolio bolstered by recent studio expansions. Major highlights include the Orion™ Curve Premium and new high-denomination options, reflecting AGS's commitment to delivering unique experiences to players and casino operators.
PlayAGS reported a strong financial performance for Q4 2022, achieving total revenue of $81.7 million, up 16% year-over-year and marking the eighth consecutive quarter of revenue growth. Net income reached a record $2.5 million, a significant turnaround from a net loss of $9.1 million in the previous year. Adjusted EBITDA improved by 16% to $37.3 million, indicating robust operational efficiency. Domestic EGM recurring revenue also set a new high at $46.8 million, up 8%.
The company aims to reduce net leverage to between 3.25x and 3.75x by the end of 2023, supported by strong market trends and product performance.
PlayAGS, Incorporated (NYSE: AGS) will announce its fourth quarter and fiscal year 2022 financial results on March 9, 2023, after market close. A conference call and live webcast will occur at 5 p.m. EST the same day to discuss these results. Participants are encouraged to pre-register to gain access easily. The company focuses on delivering diverse gaming experiences and serves both Class II and Class III markets. For further details, visit www.playags.com.
PlayAGS, Inc. (NYSE: AGS) announced the appointment of Robert "Rob" Ziems as Chief Legal Officer, effective immediately. With over 24 years in the gaming and legal sectors, Ziems will direct AGS's legal and compliance operations and oversee its business strategy in Latin America and Interactive sectors. He previously held senior positions at Aruze Gaming America and Mikohn Gaming. Ziems succeeds Victor Gallo, who retired after 12 years. AGS continues to diversify its portfolio and enhance its business strategy under the leadership of David Lopez, AGS's President and CEO.
On February 6, 2023, PlayAGS, Inc. (NYSE: AGS) announced a partnership with DraftKings, Inc. (NASDAQ: DKNG) to provide over 20 proprietary slot titles for DraftKings Casino. This collaboration aims to enhance DKNG's i-casino operations in North America. AGS already has 10 titles live in New Jersey, with additional games, including the award-nominated Golden Wins Deluxe®, set to launch soon. AGS Senior VP Gary Hardy highlighted this partnership as a significant milestone for the company, showcasing AGS's commitment to delivering exciting gaming experiences.
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