Published
Financial

AGS revises 2018 outlook following company-record Q3 revenue

AGS has reported company-record revenue of $75.5m for Q3, a year-on-year increase of 34%.

AGSLogo

The supplier’s success in the third quarter was driven by entry into Canada, a "large sale to a long-standing tribal customer" and an 82% increase in EGM equipment sales to $24.7m.

Total adjusted EBITDA increased 14% to $33.6m, although the total adjusted EBITDA margin fell from 52% to 44% due to manufacturing cost increases and costs associated with the recently acquired RMG content aggregator Gameiom.

Based on the supplier’s year-to-date progress, AGS has produced an upward revision of its 2018 outlook, projecting total adjusted EBITDA of between $134 and $136m.

AGS President and CEO David Lopez said: "In the third quarter, AGS sold 1,332 EGMs, a 58% jump year-on-year and a company record. Revenue hit an all-time high of $75.5m, demonstrating continued demand for our Orion Portrait cabinet and growing momentum for our new Orion Slant.

"AGS is still very underrepresented in many markets both domestically and internationally, which presents significant long-term growth opportunities."

Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Metropolitan Gaming
Holland Casino
Nederlandse Loterij
Relax Gaming
Hoiana Resort & Golf
Follow Us

Facing Facts: Q1 2024 analysis from across the globe

Gambling Insider tracks the Q1 results of operators across t...

Taking Stock: A guide to sports betting operator and supplier prices

Gambling Insider tracks sports betting operator and supplier...

Tailor-made: The power of personalisation in the modern gaming industry

With insights from GR8 Tech, Greentube and the Oregon Lotter...

Sportradar and the Taiwan Sports Lottery: More offerings, greater efficiency

Danny Fok, VP of Strategic Projects at Sportradar, speaks al...