The adjusted EBITDA margin also increased to 51% from 33% in Q2 2019. In relation to Q2 domestic gaming operations, or recurring revenue, domestic EGM RPD and domestic gaming operations revenue established a new company record. Amounts reached a record $45.9m compared to $7.5m and $43.7m in Q2 2020 and Q2 2019.
One of the highlights of AGS’s second quarter results was Orian Starwall’s installed base growing up to over 520 games at the end of the quarter. This has helped further strengthen operator interest in the product. On top of this a record of $2.2m more than doubles the interactive real money gaming revenue for the year. During this second quarter, AGS has generated a free cash flow of over $14m for the year to date, which is nearly $120m of available liquidity as of 30 June 2021. With a reduced net leverage of 5.0x compared to 7.5x at 31 December 2020.
AGS President and CEO, David Lopez, said: "We were able to leverage our over 15,000 unit domestic EGM installed base, our growing premium game footprint, and the revenue strength witnessed throughout the domestic gaming market, to establish new company records in both domestic EGM revenue per day (RPD) and domestic EGM gaming operations revenue in the second quarter.
"Looking ahead, our improved execution and accelerating product momentum across all three of our business segments position us to deliver additional growth and share taking in the coming quarters."
Kimo Akiona, AGS' CFO, added: "The continuous improvement being achieved as a result of our enhanced game content development execution, upgraded product management capabilities, and refined capital deployment processes, sets us on a path to deliver more consistent financial performance, improving our capital returns and leverage profile, and, most importantly, strengthening shareholder value over time."
