PlayAGS Reports Increased Revenues But Suffers Net Losses

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PlayAGS Reports Increased Revenues But Suffers Net Losses

PlayAGS, gaming technology provider reported increased revenues of 2.3%, but also reported net losses for the first six months of the year.

PlayAGS said their total revenues earned for the second quarter was $74.5 million. This figure is up from $72.8 million for the same second quarter last year.

The increased revenues are due to the gaming provider seeing an increase in revenues with its table and electronic gaming machine products. Gaming operation revenues grew by 2% to $53.6 million. This was due to EGM’s purchase by Integrity Gaming. Table game progressive tables and side bet placements climbed to $2.4 million, a 35% increase which help fill in the gap where net losses sequestered.

With increase revenues expressing a positive performance there isn’t much positive growth with the company’s interactive business sector. PlayAGS Interactive seen a few downfalls with revenues slipping to $1.1 million, a 35.1% decrease. Social gaming fell as well by 46.4% to $890,000. PlayAGS said the reasoning for the social gaming decrease is due to the company “strategically optimizing its user acquisition costs”. Despite the losses, PlayAGS’s six-month report wasn’t too oblique especially with real money gaming revenues soaring to $221,000.

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