Summary by Moomoo AI
PlayAGS, a leading designer and supplier of electronic gaming machines (EGMs) and other products for the gaming industry, reported a significant increase in revenues and Adjusted EBITDA for the three months ended March 31, 2024, compared to the same period in 2023. Total revenues rose by 15.4% to $95,973 thousand, driven by a 38.2% surge in equipment sales and a 5.8% increase in gaming operations. The company's net income also saw a dramatic turnaround, posting $4,345 thousand compared to a net loss of $334 thousand in the previous year. The EGM segment, which constitutes 91% of PlayAGS's revenue, experienced a 14% increase in total revenues, with gaming operations revenue up by 2.6% and equipment sales jumping by 38.5%. The Table Products segment also saw growth, with an 11.5% increase in total revenues...Show More