PlayAGS sees revenues rise but net losses widen in Q2
Gaming technology provider PlayAGS has reported a 2.3% year-on-year increase in revenue for the three months to June 30, 2018, despite also seeing its net losses widen over the period.
Total revenue in the second quarter amounted to $74.5m (£61.5m/€66.5m), up from $72.8m in the corresponding three-month period last year.
PlayAGS said this rise was primarily due to record gaming operations revenue, with the provider seeing an increase in revenue from both its Electronic Gaming Machine (EGM) and Table Products segments.
Gaming operations revenue grew 2% year-on-year to $53.6m, driven by EGMs purchased from Integrity Gaming. Table products revenue also climbed 35% to $2.4m due to increased progressive table game and side bet placements.
However, it was not such positive news for the PlayAGS Interactive business, which saw revenue slip 35.1% to $1.1m. Social gaming revenue fell 46.4% to $890,000 as a result of PlayAGS "strategically optimising its user acquisition costs", although real-money gaming revenue rocketed 333.3% to $221,000.