AGS has reported its second quarter highlights for 2021, showcasing total adjusted EBITDA of $32
AGS has reported its back billet highlights for 2021, showcasing amount adjusted EBITDA of $32.1m.
This was more than 20% in equivalence to Q1 2020, although practically higher than a $1.2m loss in Q2 2020, and a cold-shoulder diminish from $35.7m inwards Q2 2019. The sum familiarized EBITDA margin improved to 48% inwards the secondment quarter, compared to negatively charged 7% for Q2 2020, and was in rail line with the Q2 2019 levels.
AGS’s second quarter nett red ink was $3.9m, compared to $7.8m inward Q1 2021. It also improved compared to meshing red of $42.6m and $7.6m inwards Q2 2020 and Q2 2019.
There get been many more increased numbers this 2nd quarter, with AGS’s tabulate products' familiarized Earnings Before Interest Taxes Depreciation and Amortization increasing 79% versus Q2 2019, reaching a young every quarter register of $1.4m. This is rather a significant per centum cost increase precondition the fact it's upwards on 2019 and not the pandemic-ridden 2020 period.
The familiarised EBITDA border also increased to 51% from 33% inwards Q2 2019. In relation to Q2 house servant gaming operations, or revenant revenue, domesticated EGM RPD and house servant gaming operations revenue established a young accompany record. Amounts reached a track record $45.9m compared to $7.5m and $43.7m inwards Q2 2020 and Q2 2019.
One of the highlights of AGS’s indorse quarter results was Orian Starwall’s installed baseborn growing upwardly to over 520 games at the destruction of the quarter. This has helped further strengthen manipulator interestingness in the product. On upside of this a record book of $2.2m to a greater extent than doubles the interactive real money gaming revenue for the year. During this indorse quarter, AGS has generated a free hard cash rate of flow of o'er $14m for the yr to date, which is nearly $120m of useable liquidity as of 30 June 2021. With a reduced sack up purchase of 5.0x compared to 7.5x at 31 Dec 2020.
AGS President and CEO, St. David Lopez, said: "We were able to leverage our over 15,000 unit domestic EGM installed base, our growing insurance premium game footprint, and the revenue strength witnessed end-to-end the domestic help gaming market, to establish new fellowship records inward both domestic help EGM revenue per daytime (RPD) and house servant EGM gaming trading operations revenue inwards the 2nd quarter.
"Looking ahead, our improved execution and accelerating product momentum crosswise all threesome of our business organisation segments position us to deliver additional growth and portion out taking in the coming quarters."
Kimo Akiona, AGS' CFO, added: "The uninterrupted melioration existence achieved as a outcome of our enhanced game content development execution, upgraded product direction capabilities, and refined capital deployment processes, sets us on a path to deliver more consistent financial performance, up our uppercase returns and leverage profile, and, most importantly, strengthening shareholder value over time."