PlayAGS, the slot machine and gaming solutions specialist, has published its operating results for its second quarter 2018. The company reported that it had grown both the top and bottom line by more than 40% in the second quarter, marking the most successful quarter in its trading history.

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.”

It continued: “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.”

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 $132m and $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 $55m to $60m.”

Headline figures

  • Record quarterly revenue of $72.8m grew 45% year-on-year
  • Net Loss of $5.3m improved 74% year-on-year
  • Record total adjusted EBITDA (non-GAAP) of $36.6m grew 40% year-on-year
  • Record recurring revenue of $52.6m grew 26% year-on-year
  • EGM unit sales of 1,058 grew 84% year-on-year