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Jun 30, 2023
PlayAGS Q2 2023 Earnings Report
Achieved record second quarter financial performance driven by strength of products, team members, and strategy.
Key Takeaways
PlayAGS reported record second quarter results with significant momentum across all three business segments. Recurring revenue reached a record $61.0 million, up 8% year-over-year. Total Adjusted EBITDA increased 16% year-over-year to a record $39.6 million.
Gaming operations reached a record $61.0 million, up 8% versus the prior year and 4% sequentially.
Domestic EGM recurring revenue grew to a record $49.3 million, representing a year-over-year increase of 7% and 3% ahead of the previous record.
International EGM recurring revenue advanced 18% year-over-year and increased sequentially for the twelfth consecutive quarter.
Total Adjusted EBITDA increased 16% year-over-year to a record $39.6 million, driven by EGM and Table Products Adjusted EBITDA growth of 17% and 12%, respectively.
Forward Guidance
The Company now expects to exit 2023 with net leverage in the range of 3.25 times to 3.50 times.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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