PlayAGS, a leading designer and supplier of electronic gaming machines (EGMs) and other products for the gaming industry, has reported a 15.2% increase in total revenues year-over-year, reaching $356.5 million for the year ended December 31, 2023. The company's financial performance was bolstered by a 7.3% rise in gaming operations revenue and a significant 35.8% surge in equipment sales. Operating expenses saw a 10.2% increase, while income from operations jumped by 51.2%. Interest expenses rose by 41.4%, primarily due to a higher effective interest rate. Despite these costs, PlayAGS achieved a net income of $428 thousand, recovering from a net loss of $8.0 million in the previous year. The EGM segment was a key driver of growth, with a 6.9% increase in gaming operations revenue and a 34.0% increase in...Show More

PlayAGS, a leading designer and supplier of electronic gaming machines (EGMs) and other products for the gaming industry, has reported a 15.2% increase in total revenues year-over-year, reaching $356.5 million for the year ended December 31, 2023. The company's financial performance was bolstered by a 7.3% rise in gaming operations revenue and a significant 35.8% surge in equipment sales. Operating expenses saw a 10.2% increase, while income from operations jumped by 51.2%. Interest expenses rose by 41.4%, primarily due to a higher effective interest rate. Despite these costs, PlayAGS achieved a net income of $428 thousand, recovering from a net loss of $8.0 million in the previous year. The EGM segment was a key driver of growth, with a 6.9% increase in gaming operations revenue and a 34.0% increase in equipment sales. The Table Products segment also saw substantial growth, with an 18.7% increase in total revenues, driven by a 302.9% increase in equipment sales. The Interactive segment's revenue grew by 15.6%, attributed to regulated North American real money gaming (RMG) market opportunities. PlayAGS's future plans include focusing on growth opportunities within the regulated North American RMG market, as indicated by their strategic refocusing of resources.