Updating investors, PlayAGS stated: “Our strong results reflect record highs in our EGM and tables products revenue, average selling prices, revenue per day, and recurring revenue. We continue to reap the benefits of our Orion and Bonus Spin product launches, our steady ramp into key markets like Nevada, California and New Jersey, and strong performance from both our optimised and new product footprint.”
“In addition to a strong pipeline of new product launches and our initial entry into markets such as Canada to accelerate our growth, our recent acquisition of content aggregator Gameiom creates a new channel to exploit our industry-leading game content in online real-money gaming markets,” it continued.
On the outlook for 2018, the company noted: “Based on our year-to-date progress and due to our current momentum, we now expect our total adjusted EBITDA in 2018 to be between US$132m and US$136m. This is an upward revision to the guidance we previously released and is based on greater visibility that we now have for the installation and performance of Orion Portrait, Orion Slant, STAX, and other products for the remainder of the year, in addition to accelerated efforts to increase our footprint in sizable new markets, such as Canada. We maintain our capital expenditures range of US$55m to US$60m.”
Headline figures
- Record quarterly revenue of US$72.8m grew 45% year-on-year
- Net Loss of US$5.3m improved 74% year-on-year
- Record total adjusted EBITDA (non-GAAP) of US$36.6m grew 40% year-on-year
- Record recurring revenue of US$52.6m grew 26% year-on-year
- EGM unit sales of 1,058 grew 84% year-on-year
Source: GMB
