AGS posts Q3 net loss despite 5 revenue increase

AGS has reported Q3 revenue of $79.4m, a 5% year-on-year increase, with recurring Q3 revenue up 4% to $52.5m.

The supplier sold its highest quarterly number of EGM units for Q3 (1,391), which was also a growth of 4%.

Table products revenue increased 39% to $2.9m, thanks in part to the new Dex S card shuffler.

But AGS still declared a net loss of $5.5m, down from net income of $4.3m for Q3 2018, despite adjusted EBITDA rising 10% to $36.8m.

Global Gaming Award-winning CEO David Lopez said: "Our third quarter performance was underscored by the sale of nearly 1,400 EGMs - the most in our company's history - as well as record performance in our table products segment.

"After a successful G2E last month, we are looking forward to launching our premium lease-only Orion Rise cabinet and Starwall LED merchandising display, as well as our highly anticipated Orion 49C, Pax S card shuffler and Bonus Spin Xtreme progressive system.

"We believe this robust suite of products will help drive growth in 2020 and beyond."