Loading...
•
Jun 30, 2020
PlayAGS Q2 2020 Earnings Report
Reported a decrease in total revenue due to decreased gaming operations revenue and unit sales in the EGM segment, and a net loss increase year-over-year primarily due to the decrease in EGM and Table Products revenue.
Key Takeaways
AGS reported a decrease in total revenue to $16.8 million, primarily due to decreased gaming operations revenue and unit sales in the EGM segment. The company experienced a net loss of $42.6 million, which increased year-over-year. However, initial game performance on EGM units in-service has been strong and better-than-expected.
Total revenue decreased to $16.8 million, primarily due to decreased gaming operations revenue and unit sales in our EGM segment.
Gaming operations revenue decreased to $10.2 million, primarily related to leased EGMs and Table Products impacted by closed casinos, slightly offset by increased Interactive segment revenue.
Net loss of $42.6 million increased year-over-year, primarily due to the decrease in EGM and Table Products revenue, partially offset by decreases in expenses.
Total Adjusted EBITDA decreased to a loss of $1.2 million, driven by decreases in our EGM and Table Products segments and slightly offset by growth in our Interactive segment.
Forward Guidance
Although it is hard to predict exactly how the pandemic will continue to impact the macro operating environment, given all of the measures we've taken, we believe we are positioned with sufficient liquidity and flexibility to emerge from this a more competitive and more nimble organization.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...