PlayAGS slips to loss despite revenue increase in third quarter
Gaming technology supplier PlayAGS has posted a net loss of $5.5m (£4.3m/€5.0m) for the third quarter, despite also reporting an increase in revenue for the period.
Total revenue for the three months to 30 September, 2019 amounted to $79.4m, up from $75.5m in the same period last year.
Electronic gaming machines (EGM), including slots, were by far the main source of revenue for PlayAGS in the third quarter, generating $75.3m, up 4.9% year-on-year.
PlayAGS said this was primarily the result of record EGM sales – up 4% to 1,391 – bringing in $26.4m in revenue in the process, a rise of 7.2% on last year. The gaming operations segment of the EGM business generated $48.9m in revenue, a year-on-year increase of 3.7%.
Elsewhere, table products revenue increased 39.4% from $2.1m to $2.9m, with PlayAGS noting a 28.9% rise in gaming operations revenue to a record $2.5m. The supplier also enjoyed record equipment sales, with revenue rocketing by 173.3% to $410,000.
It was not so good news for the interactive segment, where revenue slipped 28.0% from $1.7m to $1.2m, mainly due to a 50.8% dip in social gaming revenue to $712,000. In contrast, iGaming revenue hiked 107.0% to $505,000, boosted by the launch of a platform in New Jersey with Rush Street Interactive.
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