AGS concluded a remarkable year with an exceptional fourth quarter, achieving unprecedented financial milestones. Their total income reached an all-time peak of $94.2 million, signifying a 15% surge compared to the same period last year. This accomplishment extends their impressive streak of double-digit expansion to an admirable eleven consecutive quarters. The robust results stemmed from development across all facets of their operations. Electronic gaming devices, a fundamental pillar of their portfolio, witnessed a 14% rise in income. Their table game sector soared even higher, registering a remarkable 24% increase. Furthermore, their interactive gaming division, encompassing online and mobile platforms, experienced phenomenal growth with a 30% revenue surge.
Profitability mirrored this upward trend, as adjusted EBITDA reached an unprecedented $42.8 million. This accomplishment marks the fifth consecutive quarter of double-digit growth in this crucial profitability indicator.
Chief Executive Officer David Lopez expressed enthusiasm regarding the outcomes, crediting the unwavering commitment and diligence of the AGS workforce. He emphasized their strategic emphasis on broadening and diversifying their product range across all business segments. Lopez also underscored the company’s ongoing enhancements in operational effectiveness as a primary catalyst for their financial achievements.
Examining the entirety of the fiscal year, AGS generated $94.2 million in revenue, a 15.2% increase relative to the preceding year. This exceptional performance firmly establishes a strong foundation for sustained prosperity in the times to come.
The gaming enterprise, AGS, witnessed a substantial plunge in net profits, dropping by nearly 97.4% to reach $6.7 million. Conversely, they observed an upward trend in their modified EBITDA, which expanded by 14.7% to hit $42.8 million, with their adjusted EBITDA margin going beyond 45%.
This robust final quarter showing was propelled by expansion across all their business divisions, especially their strong equipment transactions. Their recurring revenue flow, mainly from gaming activities, amounted to $59.6 million. A standout achievement was their equipment sales, which reached unprecedented figures – surpassing $34.6 million, a surge driven by robust demand for their electronic gaming machine and table offerings.
Further showcasing their forward momentum, AGS collaborated with Caesars Digital to introduce a novel slot game, Rakin’ Bacon Odyssey, in the New Jersey market this month.
admin