AGS reduces losses in first year as public company

AGS reduced its annual net loss by 54% to $285.3m for 2018,  in its first year as a publicly-traded company,

The supplier’s annual revenue was $285.3m, an increase of 35%, with adjusted EBITDA increasing 27% to $136.2m.

AGS reported record sales in electronic gaming machines (EGMs), as sales rose 71%  to 4,387 units.

After opening the year at $18.50, the share price peaked at $32.04 in August and on 1 March 2019 was $23.92.

In the fourth quarter of 2018, AGS made revenue of $72.1m, a 25% increase.

Net loss for Q4 increased 21% to $10.3m, with adjusted EBITDA for the period growing 19% to $31.5m.

The supplier reports growth in EGM sales in the Class III marketplace as a Q4 highlight, primarily in early-entry markets such as Ontario, Mississippi and Nevada.    

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