PlayAGS Registers Loss Despite Increase in Q3 Revenues

Home » PlayAGS Registers Loss Despite Increase in Q3 Revenues

PlayAGS, a supplier of Gaming technology, has registered a loss amounting to $5.5 million in its Q3, despite an increase in revenue over the same period.

Its revenue for the three months before September 30th, 2019, amounted to more than $79.4 million, an increase from their previous amount of $75.3 million. This is an increase of 4.9 percent, year-on-year.

Electronic gaming machines (EGM), plus slots, accounted for most of the revenue for the company in Q3, generating an estimated $75.3 million, which is an increase of 4.9 percent from 2018.

The firm also stated that its revenue was because of EGM sales, which went up 4 percent to 1391. This brought in close to $26.4 million worth of revenues, which is a rise of 7.2 percent from last year’s numbers. EGM’s gaming operation segment brought in close to $48.9 million in terms of revenues, which represents a year-on-year rise of 3.7 percent.

Elsewhere, its table revenues rose by 39.4 percent up to $2.9 million from $2.1 million. PlayAGS noted a 28.09 percent increase in revenues from gaming operations, which represents $2.5 million. The firm also recorded equipment sales worth $410000, which is an increase of 173.3 percent.

There was no good news from its interactive segment. Revenues went down 28 percent, down to $1.2 million from $1.7 million because of a decrease in revenues from the social gaming division to reach $712000. At the same time, iGaming’s revenues went up 107 percent, representing $505000. This trend was boosted the rollout of a new venue, in collaboration with Rush Street Interactive, within New Jersey.

Source: https://www.igamingbusiness.com/news/playags-slips-loss-despite-revenue-increase-third-quarter

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