PlayAGS Q2 2023 Earnings Report
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.
PlayAGS
PlayAGS
Forward Guidance
The Company now expects to exit 2023 with net leverage in the range of 3.25 times to 3.50 times.