AGS reports $55.4m revenue for Q1 2020; CEO hails "best" strategic meeting

By Gambling Insider

AGS has reported that total Q1 revenue increased by 1.9% year-over-year and its net loss income was reduced by 46.1%.

During the first quarter of 2021, AGS made $55.4m in total revenue and suffered a net loss of $7.8m, although the year before it made a loss of $14.4m.

Gaming revenue increased by 4.1% to $44.4m; the company says this was due to Covid-19 restrictions relaxing. Domestic gaming operations showed an 11.2% increase in revenue to $37.6m.

Adjusted EBITDA for AGS was $26.3m, a 7.4% increase and at a margin of 47.5%. Adjusted EBITDA had increased across all three of AGS’s operating segments.

AGS president and CEO, David Lopez, said: "I was very pleased with our team's execution in the 2021 first quarter and am equally as encouraged by the macro level trends and overall sentiment we are seeing across the gaming landscape today.

“Following one of the best corporate strategic planning meetings I have ever participated in, we are strengthening our organisational alignment around key business objectives, which should allow us to improve our business trajectory and overall operating efficiency."

AGS CFO, Kimo Akiona, added: "Our first quarter results once again serve as a testament to the resiliency and durability inherent to our company's recurring revenue-centric business model.

“I am confident our improving execution and strong liquidity position will allow us to deliver more consistent financial performance and, in turn, further enhance shareholder value."

 

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