PlayAGS, Inc. - AGS STOCK NEWS

Labaton Sucharow LLP is seeking shareholders of PlayAGS, Inc. (NYSE: AGS) who purchased shares in the March 20, 2019 secondary offering at $25.50 each. PlayAGS develops electronic gaming machines primarily for Native American casinos. The company reported a loss of $0.21 per share in Q2 2019, missing expectations and including $4.8 million in impairments. This led to a 52% stock drop, closing at $8.31 on August 8, 2019, significantly below the offering price.

Labaton Sucharow LLP is investigating potential claims on behalf of shareholders of PlayAGS who purchased shares in the March 2019 secondary offering at $25.50. Following a disappointing second quarter 2019 report, which included a loss per share of $0.21, PlayAGS faced a significant stock price drop of 52%, closing at $8.31. The report noted an impairment of $3.5 million in goodwill and underperformance of EGMs in Oklahoma, prompting a lowered EBITDA guidance for 2019.

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.