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PlayAGS, Inc. - AGS STOCK NEWS

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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.

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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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On January 27, 2023, AGS announced the appointment of Adam Chibib as Chairman of the Board, succeeding David Sambur, who stepped down after five years. Chibib, a long-serving Board member and Lead Independent Director, has over 30 years of diverse experience across various industries, including gaming. AGS President David Lopez expressed confidence in Chibib's leadership, noting his significant contributions since AGS's IPO. The appointment is expected to steer AGS forward while maintaining strong corporate governance.

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PlayAGS (NYSE: AGS) has announced a strategic partnership with Caesars Sportsbook & Casino to enhance its online real-money gaming (RMG) offerings. This collaboration will provide Caesars with over 30 popular online game titles, including Capital Gains® and Rakin' Bacon!®, aimed at boosting player engagement in New Jersey and Pennsylvania. AGS's reputation for delivering high-performing games is expected to support Caesars' market share in North America's RMG sector. The initiative underscores AGS's role as a leader in slot content for regulated gaming operators.

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PlayAGS has announced the pricing of a secondary public offering of 8,208,076 shares of its common stock, all held by an entity managed by Apollo Global Management. The offering, which is set to take place on the NYSE, will not include any shares sold by AGS itself, nor will AGS receive any proceeds from the sale. J.P. Morgan and B. Riley Securities will act as underwriters. This press release indicates a significant move in AGS's shareholding structure, signaling potential changes in its market position.

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PlayAGS announced a secondary public offering of 8,208,076 shares of common stock, managed by affiliates of Apollo Global Management. The offering will raise no proceeds for AGS, as it involves shares held solely by the Selling Stockholder. J.P. Morgan and B. Riley Securities are the underwriters, with shares offered at prevailing market prices or through negotiated transactions. The process adheres to legal requirements and is backed by an effective registration statement with the SEC, dated November 14, 2022.

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PlayAGS reported a strong third quarter for 2022, with total revenues rising 16% year-over-year to $78.3 million. EGM sales surpassed 1,000 units for the first time since Q4 2019, with EGM revenue growing by over 15%. Domestic recurring revenue for EGMs reached $45 million, a 4% increase from the previous year. The company achieved net income of $476,000, reversing a loss from the prior year. Adjusted EBITDA rose 8% to $34.5 million, though margins compressed to 44.0% due to revenue mix changes. AGS aims for a net leverage ratio below 4.0 by year-end 2022.

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AGS announced it will release its third quarter financial results for the period ended September 30, 2022, after market close on November 8, 2022. An investor conference call will follow at 5 p.m. EST on the same day, providing insights into the Company's financial performance and outlook. Participants are encouraged to pre-register for the conference call through the provided link to gain immediate access. The company's focus lies in enhancing gaming experiences across various markets, leveraging strong product offerings in Class II and Class III slot products.

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AGS (NYSE: AGS) announced it will showcase innovative gaming products at the Global Gaming Expo (G2E) from Oct. 11-13, 2022, in Las Vegas. The highlight includes the launch of the Spectra UR43™ cabinet and 37 new slot games. AGS aims to demonstrate its product diversity and recent expansions in EGM, Table Products, and Interactive divisions. The company emphasizes its commitment to research and development, aiming to solidify its market position and attract more customers in both domestic and international markets.

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In Q2 2022, AGS reported a 15% year-over-year revenue increase to $76.6 million, with net income of $1.5 million, marking the first profit since Q4 2019. The EGM segment grew by 15.2% to $70.5 million, driven by increased gaming operations revenue. Domestic EGM recurring revenue reached a record $46.2 million, while Adjusted EBITDA rose 6% to $34.1 million. Despite revenue growth, challenges included a 7.5% decline in interactive revenues and a slight decrease in Adjusted EBITDA margin due to rising costs. AGS aims to achieve year-end leverage target of less than 4.0x.

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PlayAGS, Incorporated (NYSE: AGS) announced it will release its Q2 2022 financial results after market close on August 8, 2022. A conference call and live webcast will follow at 5 p.m. EDT to discuss the financial performance and outlook. Participants are encouraged to pre-register for the call to expedite access using a conference passcode. AGS continues to focus on delivering a diverse range of gaming experiences, catering to both Class II and Class III markets.

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FAQ

What is the current stock price of PlayAGS (AGS)?

The current stock price of PlayAGS (AGS) is $11.49 as of December 20, 2024.

What is the market cap of PlayAGS (AGS)?

The market cap of PlayAGS (AGS) is approximately 470.9M.

What does PlayAGS, Inc. specialize in?

AGS specializes in providing a diverse mix of gaming solutions, including electronic gaming machines (EGM), table products, and interactive content for casinos and gaming venues worldwide.

What are AGS's recent achievements?

AGS recently showcased new products at the 2023 Global Gaming Expo, including the Spectra UR49C and Spectra UR43 Premium slot cabinets, and introduced enhancements to their Bonus Spin™ Xtreme system and the Pax S® shuffler. Their interactive division also expanded into new jurisdictions and ranked #1 in Top Indexing New Online Slots.

How is AGS performing financially?

AGS reported a total revenue increase of 14% year-over-year in Q3 2023, reaching $89.4 million. The company saw significant growth across all segments, including a 20% rise in interactive revenue.

What partnerships has AGS recently formed?

AGS partnered with Caesars Entertainment to launch Rakin’ Bacon Odyssey® in Atlantic City and online. They also collaborated with EQL Games to bring their interactive content to U.S. and Canadian iLottery players.

What is the significance of the Spectra UR49C and Spectra UR43 Premium cabinets?

The Spectra UR49C and Spectra UR43 Premium cabinets represent AGS's commitment to innovation and market leadership in slot products, featuring advanced configurations and a wide library of high-performing games.

How does AGS support its casino partners?

AGS supports its casino partners with high-performing gaming products, including Class II and Class III slots, table products, real-money gaming platforms, and highly rated social casino solutions, combined with best-in-class service.

Where can I learn more about AGS?

For more information, visit AGS's website at www.playags.com.

What are AGS's key operating segments?

AGS's key operating segments are Electronic Gaming Machines (EGM), Table Products, and Interactive, each contributing to the company's diversified revenue streams.

What is AGS's approach to the interactive gaming market?

AGS's interactive division, AGSi, focuses on expanding its reach through innovative game titles, strategic partnerships, and entering new jurisdictions to offer their high-performing real-money online games.

What is the importance of AGS's Bonus Spin™ Xtreme system?

The Bonus Spin™ Xtreme system is an award-winning progressive system that links all table games on a floor, providing exciting jackpot opportunities and enhancing the player experience.

PlayAGS, Inc.

NYSE:AGS

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AGS Stock Data

470.86M
39.37M
3.8%
78.45%
1.78%
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