AGS Q4 2019 revenue grows 8%

Fourth quarter recurring revenue was $51.6m, up 5% from 2018, while adjusted EBITDA was $37.3m, an increase of 18%.

Net income saw an increase of 114%, at $1.4m, due to the impact of a non-cash, pre-tax impairment of goodwill and debt modification-related expenses on the previous year’s total.

Full year revenue was $304.7m for 2019, a rise of 7%, while adjusted EBITDA was $146m, up 7% from 2018.

David Lopez, AGS President and CEO, said: “Fourth quarter adjusted EBITDA growth of 18% year-over-year was driven by strong EGM and Table Products performance, with continued demand for titles on Orion Portrait, as well as our Super 4 Progressive for table games.

“2020 is one of — if not the most — significant product launch years in AGS’ history, with the Orion Rise, the Orion Curve, the Starwall, and the Pax S card shuffler all debuting on casino floors this year.

“We feel confident that this line-up of new products, along with brand extensions and innovative offerings on our current portfolio, will provide meaningful long-term growth opportunities for AGS.”

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Owain Flanders

Journalist

Owain Flanders is a journalist who spent over a year with Gambling Insider, first joining as an Editorial Intern in August 2019 before progressing to Staff Writer from November 2019 to December 2020. During his tenure, he covered a wide range of developments across the global gambling and iGaming sectors, producing original news stories, in-depth features and analytical pieces for the Gambling Insider website and its bi-monthly magazine.

Owain interviewed CEOs, analysts and senior marketing executives on emerging trends, regulatory issues and commercial strategy, bringing authoritative insight to a professional B2B audience.

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