AGS reports 50 6 revenue increase for Q4 amid pandemic recovery
PlayAGS, Inc has reported $70
PlayAGS, Inc has reported $70.2m inwards revenue for Q4 2021, up 50.6% from quaternary canton 2020, though below pre-pandemic levels.
The company, which designs and develops equipment and services solutions for the planetary gaming industry, made considerable gains inwards 2021, termination the yr with whole Q4 ontogeny when compared to 2020.
However, AGS’ quaternary canton revenue remained infra the same three-month point inward 2019 past nearly 10%.
The keep company supplies electronic gaming machines (EGM), including expansion slot machines and picture bingo machines, to land-based operators, but this area was hitting tough by closures introduced in response to Covid-19.
Consequently, AGS’ tally Q4 2020 revenue amounted to $46.6m, an almost 67% reduction from fourth billet 2019, but as of the a la mode(p) reporting period, the keep company has seemingly managed to turn of events things around.
Nevertheless, piece its revenue ontogenesis is backwards on track, AGS posted a sack deprivation of $9m for Q4 2021, an betterment over the prior-year period’s deprivation of $17m, but a marked decline from the $1.4m income for fourth billet 2019.
In what AGS President and CEO Saint David Lopez called “a twelvemonth of transition,” the accompany place itself on the course to recovery from Covid-19, though based on its 4th canton results, stock-still has a way of life to go.
“If 2020 was the year of resiliency within our business, 2021 was the twelvemonth of transition,” he said, adding: “With our improved 2021 financial results behind us, our attention has shifted to ensuring we are best positioned to achieve still greater success in 2022.
“To that end, I would characterise 2022 as a twelvemonth of acceleration for AGS; one inward which we will seem to farther leverage the continuous melioration in our people, products and processes to fortify our financial performance.”
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