PlayAGS Posts a Net Loss for Q3 Despite Increasing Revenues

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PlayAGS Posts a Net Loss for Q3 Despite Increasing Revenues

PlayAGS, one of the industry’s top gaming technology providers, posted a net loss for Q3 2019 despite its increased in revenue earnings.

PlayAGS said their net loss for the three-month period to September 30 was $5.5 million. Total revenue earnings for the same period was $79.4 million, this amount is up from $75.5 million which was reported last year.

The main source of income for the provider was electronic gaming machines. These machines include slots. Electronic gaming machines was up 4.9% for year-on-year figures generating $75.3 million. PlayAGS said the increased in revenues for their gaming machines was due to a record sales of 1,391 and earning $26.4 million in revenues with the sales process. More than $48 million was generated in revenues with the gaming machines sector of the company. iGaming revenues spiked by 107% to $505,000 which is believed to be the result of launching their platform with Rush Street Interactive in New Jersey. The provider’s interactive sector had one of the worst quarters to date. Revenues slipped by 28% earning just $1.2 million.

PlayAGS noted that table products seen a 39.4% increase earning $2.9 million. There were several record achievements across the board with equipment sales skyrocketing by 173.3% and gaming operations revenues earning $2.5 million.

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