PlayAGS, a leading designer and supplier of electronic gaming machines (EGMs) and other products for the gaming industry, reported a significant increase in revenues and Adjusted EBITDA for the three months ended March 31, 2024, compared to the same period in 2023. Total revenues rose by 15.4% to $95,973 thousand, driven by a 38.2% surge in equipment sales and a 5.8% increase in gaming operations. The company's net income also saw a dramatic turnaround, posting $4,345 thousand compared to a net loss of $334 thousand in the previous year. The EGM segment, which constitutes 91% of PlayAGS's revenue, experienced a 14% increase in total revenues, with gaming operations revenue up by 2.6% and equipment sales jumping by 38.5%. The Table Products segment also saw growth, with an 11.5% increase in total revenues...Show More

PlayAGS, a leading designer and supplier of electronic gaming machines (EGMs) and other products for the gaming industry, reported a significant increase in revenues and Adjusted EBITDA for the three months ended March 31, 2024, compared to the same period in 2023. Total revenues rose by 15.4% to $95,973 thousand, driven by a 38.2% surge in equipment sales and a 5.8% increase in gaming operations. The company's net income also saw a dramatic turnaround, posting $4,345 thousand compared to a net loss of $334 thousand in the previous year. The EGM segment, which constitutes 91% of PlayAGS's revenue, experienced a 14% increase in total revenues, with gaming operations revenue up by 2.6% and equipment sales jumping by 38.5%. The Table Products segment also saw growth, with an 11.5% increase in total revenues and a 10.8% rise in gaming operations revenue. The Interactive segment reported a remarkable 64.7% increase in gaming operations revenue. The company's future plans include a merger with Bingo Holdings I, LLC, and Bingo Merger Sub, Inc., affiliates of Brightstar Capital Partners, which is expected to be completed in the second half of 2025. The merger will result in each share of common stock being converted into the right to receive $12.50 in cash, subject to customary closing conditions and regulatory approvals.