PlayAGS, a leading designer and supplier of electronic gaming machines (EGMs) and other products for the gaming industry, reported an 11.0% increase in total revenues for the quarter ended September 30, 2024, compared to the same period in 2023. The company's gaming operations revenue rose by 2.3%, while equipment sales surged by 29.6%. Operating expenses saw a 9.2% increase, with research and development costs rising by 20.5%. The company's net income turned positive at $2,432, a significant improvement from a net loss in the previous year. The effective income tax rate for the quarter was 32.5%. PlayAGS's EGM segment, which constitutes the majority of its revenue, saw an 8.3% increase in total revenues, with equipment sales contributing a 30.6% rise. The Table Products segment experienced a 3.9% increase in total...Show More

PlayAGS, a leading designer and supplier of electronic gaming machines (EGMs) and other products for the gaming industry, reported an 11.0% increase in total revenues for the quarter ended September 30, 2024, compared to the same period in 2023. The company's gaming operations revenue rose by 2.3%, while equipment sales surged by 29.6%. Operating expenses saw a 9.2% increase, with research and development costs rising by 20.5%. The company's net income turned positive at $2,432, a significant improvement from a net loss in the previous year. The effective income tax rate for the quarter was 32.5%. PlayAGS's EGM segment, which constitutes the majority of its revenue, saw an 8.3% increase in total revenues, with equipment sales contributing a 30.6% rise. The Table Products segment experienced a 3.9% increase in total revenues, and the Interactive segment saw a remarkable 89.9% jump in gaming operations revenue. The company's future plans include a merger with Bingo Holdings I, LLC, and Bingo Merger Sub, Inc., with the merger expected to be completed in the second half of 2025. This strategic move will result in PlayAGS becoming a wholly owned subsidiary of Parent, formed by affiliates of Brightstar Capital Partners, with each share of common stock being converted into the right to receive $12.50 in cash.