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.
Gambling Insider delivers the latest industry news, in-depth features, and operator reviews that you can trust. Our team combines rigorous editorial standards with decades of specialized expertise to ensure accuracy and fairness. We are committed to delivering clear, impartial, and dependable coverage across the global gambling sector.
