Summary by Moomoo AI
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