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PlayAGS sees earnings rise but net losses widen in Q2

PlayAGS, a well renowned gaming technology provider has delineated a 2.3% year-on-year increase in profit for the three months to June 30, 2018, despite also evaluating its net losses broaden over the period.
Total proceeds in the second quarter amounted to $74.5m (£61.5m/€66.5m), up from $72.8m in the coinciding three-month period last year.
This boom was chiefly due to record gaming operations revenue , with the provider seeing an elevation in revenue from both its Electronic Gaming Machine (EGM) and Table Products segments, said PlayAGS.

Gaming operations return increased 2% year-on-year to $53.6m, driven by EGMs purchased from Integrity Gaming. The returns of Table products also climbed 35% to $2.4m due to elevated progressive table game and side bet placements.

Nevertheless, it was not such constructive news for the PlayAGS Interactive business, which saw earnings slope 35.1% to $1.1m. Social gaming earnings fell 46.4% to $890,000 as a consequence of PlayAGS “strategically optimising its user accession costs”, even though real-money gaming profit escalated 333.3% to $221,000.

Source: https://www.igamingbusiness.com/news/playags-sees-revenues-rise-net-losses-widen-q2

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Seema Waqar

Seema Waqar

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