AGS REPORTS SECOND QUARTER 2021 RESULTS
LAS VEGAS, August 5, 2021 - AGS (NYSE: AGS) ("AGS", "us", "we" or the "Company") today reported operating results for its second quarter ended June 30, 2021.
Second Quarter 2021 Highlights:
• Net Loss Improved to $3.9 Million Compared to $7.8 Million in Q1 2021
• Adjusted EBITDA Totaled $32.1 Million, Up More than 20% Over Q1 2021
• Domestic EGM RPD and Domestic Gaming Operations Revenue Established New Company Records
• Orion Starwall Footprint Grew to over 520 Games at Quarter End
• Table Products Adjusted EBITDA Reached a New Quarterly Record of $1.4 Million
• Interactive Real Money Gaming Revenue More than Doubled to a Record $2.2 Million
• Generated Over $14 Million of Free Cash Flow YTD; Nearly $120 Million of Available Liquidity as of June 30, 2021
• Reduced Net Leverage to 5.0x as of June 30, 2021 from 7.5x at December 31, 2020
AGS President and Chief Executive Officer David Lopez said, "We were able to leverage our over 15,000 unit domestic EGM installed base, our growing premium game footprint, and the revenue strength witnessed throughout the domestic gaming market to establish new Company records in both domestic EGM revenue per day ("RPD") and domestic EGM gaming operations revenue in the second quarter. Looking ahead, our improved execution and accelerating product momentum across all three of our business segments position us to deliver additional growth and share taking in the coming quarters."
Kimo Akiona, AGS' Chief Financial Officer, added, "The continuous improvement being achieved as a result of our enhanced game content development execution, upgraded product management capabilities, and refined capital deployment processes, sets us on a path to deliver more consistent financial performance, improving our capital returns and leverage profile, and, most importantly, strengthening shareholder value over time."
The complete quarterly report and presentation are at http://investors.playags.com/financial-information/quarterly-results/default.aspx.