PlayAGS Reports Record Second Quarter 2023 Results

PlayAGS broke several of its financial records with its Q2 results, including all-time high revenue of US$89.8m.

Revenue rose 17% year-on-year, with table product revenue also at a record high of $4.4m after a 25% year-on-year rise.

Adjusted EBITDA, meanwhile, climbed 15% from the prior-year period to a record $39.6m.

AGS President and CEO, David Lopez, said the results show the company has “significant momentum” across all three segments of the business.

Kimo Akiona, AGS’ chief financial officer, added: “During the second quarter we delivered on our commitment to further de-lever our balance sheet through a combination of adjusted EBITDA growth and free cash flow generation.

“Supported by our record-setting financial performance through the first six months of the year, the sustained operating momentum we continue to observe across all three business segments, and our confidence in our ability to leverage our capital deployment discipline and improving working capital efficiency to consistently generate free cash flow, we now expect to exit 2023 with net leverage in the range of 3.25 times to 3.50 times.”