NYSE:AGS
AGS Successfully Completes Term Loan Repricing; Voluntarily Repays $15 Million of Its Total Debt Outstanding
LAS VEGAS, Feb. 05, 2024 (GLOBE NEWSWIRE) — PlayAGS, Inc. (NYSE: AGS) (“AGS” or the “Company”) today announced it has successfully completed a repricing of its term loan credit facility. Among other things, the repricing removes the credit spread adjustment with respect to term loan borrowings and reduces the interest rate applied to such borrowings to the Secured Overnight Financing Rate (“SOFR”) plus 3.75%. Additionally, in conjunction with the repricing transaction, the Company elected to repay $15 million of its total debt outstanding. At today’s SOFR, the Company estimates the repricing and voluntary repayment will produce annualized cash interest expense savings of over $3 million.
In addressing the repricing and repayment activity, AGS Chief Financial Officer, Kimo Akiona, commented, “As an organization, we remain singularly focused on reducing net leverage through a combination of consistent Adjusted EBITDA growth and improving free cash flow conversion. To that end, today’s announced transactions should help to expedite the achievement of our near and intermediate-term deleveraging objectives.”
Company Overview
AGS is a global company focused on creating a diverse mix of entertaining gaming experiences for every kind of player. Our roots are firmly planted in the Class II tribal gaming market, but our customer-centric culture and remarkable growth have helped us branch out to become one of the most all-inclusive commercial gaming equipment suppliers in the world. Powered by high-performing Class II and Class III slot products, an expansive table products portfolio, highly rated social casino, real-money gaming solutions for players and operators, and best-in-class service, we offer an unmatched value proposition for our casino partners. Learn more at playags.com.
AGS Investor & Media Contacts:
Brad Boyer, Senior Vice President Corporate Operations and Investor Relations
[email protected]
Julia Boguslawski, Chief Marketing Officer
[email protected]
©2024 PlayAGS, Inc. Products referenced herein are sold by AGS LLC or other subsidiaries of PlayAGS, Inc. Solely for convenience, marks, trademarks and trade names referred to in this press release appear without the ® and TM and SM symbols, but such references are not intended to indicate, in any way, that PlayAGS, Inc. will not assert, to the fullest extent under applicable law, its rights or the rights of the applicable licensor to these marks, trademarks and trade names.
Forward-Looking Statements
This release contains, and oral statements made from time to time by our representatives may contain, forward-looking statements based on management’s current expectations and projections, which are intended to qualify for the safe harbor of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements regarding the proposed public offering and other statements identified by words such as “believe,” “will,” “may,” “might,” “likely,” “expect,” “anticipates,” “intends,” “plans,” “seeks,” “estimates,” “believes,” “continues,” “projects,” “targets” and similar references to future periods, or by the inclusion of forecasts or projections. All forward-looking statements are based on current expectations and projections of future events.
These forward-looking statements reflect the current views, models, and assumptions of AGS, and are subject to various risks and uncertainties that cannot be predicted or qualified and could cause actual results in AGS’s performance to differ materially from those expressed or implied by such forward looking statements. These risks and uncertainties include, but are not limited to, the ability of AGS to maintain strategic alliances, unit placements or installations, grow revenue, garner new market share, secure new licenses in new jurisdictions, successfully develop or place proprietary product, comply with regulations, have its games approved by relevant jurisdictions, the effects of COVID-19 on the Company’s business and results of operations and other factors set forth under Item 1. “Business,” Item 1A. “Risk Factors” in AGS’s Annual Report on Form 10-K, filed with the SEC. All forward-looking statements made herein are expressly qualified in their entirety by these cautionary statements and there can be no assurance that the actual results, events or developments referenced herein will occur or be realized. Readers are cautioned that all forward-looking statements speak only to the facts and circumstances present as of the date of this press release. AGS expressly disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Hot Slots, Pig Links, Pitmaster Progressives, and Top-Shelf Shufflers
LAS VEGAS, Oct. 02, 2024 (GLOBE NEWSWIRE) — Global gaming supplier AGS (NYSE: AGS or “the Company”) will serve a full-course menu of delectable gaming experiences, including high-performing slot and iGaming content, cutting-edge cabinets, and revolutionary table game innovations at the 2024 Global Gaming Expo (“G2E”) in Las Vegas on October 8 to 10.
Products for Every Space, Games for Every Palate
As AGS continues to evolve and secure its place among the top four slot suppliers in North America, its G2E showcase will highlight its ability to outfit nearly every corner of the casino floor and satisfy every player’s appetite. AGS will debut not one, not two, but three form factors from its new Spectra Plus cabinet line: Spectra SL49+™, Spectra SL49+™ Premium, and Spectra SL75+™. The cabinets will be accompanied by AGS’ most extensive library of sizzlin’ slot content, featuring innovative extensions from its renowned franchise, Rakin’ Bacon®: Rakin’ Bacon Link™, Rakin’ Bacon Cash Combo™, Rakin’ Bacon Triple Oink™, and Rakin’ Bacon Jackpots™.
Additionally, AGS will showcase its latest games on its new three-reel stepper cabinet, Revel™, and high-performing content for the recently released Spectra UR43™, Spectra UR43™ Premium, and Spectra UR49™ cabinets.
Serving Up the Best in Table Progressives and Shufflers
G2E 2024 is a landmark year for AGS’ Table division as it becomes a full-service progressive and shuffler supplier. AGS will unveil enhancements to its award-winning progressive platforms, including a new sign package for STAX™ and an innovative addition to its industry-leading Bonus Spin™ Xtreme platform, Bonus Spin™ Xtreme for Poker Rooms. The new addition, which was recently awarded a ‘2025 Best Table Product or Innovation’ in Global Gaming Magazine’s Gaming & Technology Awards, offers flexible progressive configurations to operators and adds the potential for players to win life-changing jackpots in live poker rooms.
Building on the success of the DEX S® single-deck poker shuffler and the Pax S® specialty single-deck shuffler, AGS will preview its latest innovation, the MAX 8™ multi-deck shuffler. MAX 8 can shuffle up to eight decks of cards for shoe games, including baccarat and blackjack, and is designed to fit both sit-down and regular height table games.
AGSi: Bringing the Secret Sauce to Interactive
With a steady stream of chart-toppers and high-indexing content, AGSi has skyrocketed to the top of the interactive supplier charts in North America. AGSi continues to solidify its leading position in the interactive space by consistently releasing high-performing slot games in new categories, including the launch of bespoke content, as well as its first table game, and nearly doubling its content output compared to last year.
AGSi stays ahead of the competition by offering innovative solutions to help its partners generate revenue. This includes successfully executing a year-long, highly publicized campaign to lead the industry in cross-channel game launches, featuring both land-based and online titles such as Rakin’ Bacon Odyssey™, Rakin’ Bacon Sahara™, and three-reel classic slots, Gold Inferno®. AGSi’s commitment to data-driven results, coupled with the team’s unmatched flexibility and nimbleness, ensures it remains a dominant force in the interactive space.
Check out everything AGS is cooking up in booth 1253! For more information, visit playags.com.
About AGS
AGS is a global company focused on creating a diverse mix of entertaining gaming experiences for every kind of player. Our roots are firmly planted in the Class II Native American gaming market, and our customer-centric culture and growth have helped us branch out to become a leading all-inclusive commercial gaming supplier. Powered by high-performing Class II and Class III slot products, an expansive table products portfolio, real-money gaming platforms and content, highly rated social casino solutions for operators and players, and best-in-class service, we offer an unmatched value proposition for our casino partners. Learn more at www.playags.com.
AGS Media Contact:
Julia Boguslawski, Chief Marketing Officer
[email protected]
Nikki Davis, Director, Marketing & Communications
[email protected]
AGS Investor Contact:
Brad Boyer, Senior Vice President of Investor Relations & Corporate Operations
[email protected]
©2024 AGS LLC. All® notices signify marks registered in the United States. All ™ and ℠ notices signify trademarks, which are not registered on any country-wide basis. Products referenced herein are sold by AGS LLC or other subsidiaries of PlayAGS, Inc.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/787b86d6-0947-4436-aea3-b4503de811bc
NYSE:AGS
AGS Recognized as a ‘Best and Brightest Company to Work For’ in the Nation and Atlanta; Named a ‘Top Workplace’ in Multiple States
LAS VEGAS, Sept. 23, 2024 (GLOBE NEWSWIRE) — AGS (NYSE: AGS), a leading supplier of high-performing slot, table, and interactive gaming products to casino operators, is proud to announce its recognition as one of the 2024 Best and Brightest Companies to Work For in the Nation and Atlanta by the National Association for Business Resources (NABR). 2024 marks the eighth consecutive year in which AGS has received recognition.
Concurrently, AGS has been named to the Las Vegas Review-Journal and Business Press, The Atlanta-Journal Constitution, and The Oklahoman’s prestigious 2024 Top Workplaces lists. These awards recognize AGS’ dedication to creating a workplace that ensures a healthy organizational culture, employee well-being, and long-term success. In addition to these prestigious regional accolades, AGS has also received the 2024 Top Workplaces Culture Excellence Awards across its U.S. locations for Innovation, Work-Life Flexibility, Compensation & Benefits, Leadership, and Purpose & Values.
“We are honored to receive these awards, as they reflect the honest and genuine feedback from our employees,” said AGS President and Chief Executive Officer David Lopez. “Our people-first culture is our greatest strength, and creating an environment where a healthy company culture can thrive is what drives our success.”
Based entirely on employee feedback, these honors underscore AGS’ commitment to cultivating a positive company culture and leading in human resource practices. Conducted confidentially by a third party, the surveys for these awards evaluate key aspects such as employee satisfaction, communication, ethics, work/life balance, and career development.
These 2024 accolades add to AGS’ notable anthology of workplace achievements. In 2024, AGS was named to U.S. News & World Report’s ‘Best Companies to Work For’ list in the travel and leisure industry. AGS has received the HIRE Vets Medallion Award from the U.S. Department of Labor consecutively since 2018 for demonstrating an unparalleled commitment to attracting, hiring, and retaining veterans. In addition, AGS was named to Glassdoor’s esteemed Employees’ Choice ‘Best Places to Work’ list through anonymous, unsolicited employee reviews on Glassdoor.com at the height of the pandemic in 2020.
About AGS
AGS is a global company focused on creating a diverse mix of entertaining gaming experiences for every kind of player. Our roots are firmly planted in the Class II Native American gaming market, but our customer-centric culture and growth have helped us branch out to become a leading all-inclusive commercial gaming supplier. Powered by high-performing Class II and Class III slot products, an expansive table products portfolio, real-money gaming platforms and content, highly rated social casino solutions for operators and players, and best-in-class service, we offer an unmatched value proposition for our casino partners. Learn more at www.playags.com.
AGS Media Contact:
Julia Boguslawski, Chief Marketing Officer
[email protected]
Nikki Davis, Director of Marketing & Communications
[email protected]
AGS Investor Contact:
Brad Boyer, Senior Vice President of Investor Relations & Corporate Operations
[email protected]
©2024 AGS LLC.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7b59c481-d870-49ad-87fe-3fef178ecdb5
NYSE:AGS
AGS Unveils its Latest Table Innovation Bonus Spin Xtreme for Poker Rooms and an Exciting New Lineup of Slot Games at OIGA 2024
OKLAHOMA CITY, Aug. 07, 2024 (GLOBE NEWSWIRE) — PlayAGS, Inc. (NYSE: AGS or “the Company”), a leading supplier of high-performing slot, table, and interactive products and services to the global gaming industry, today announced it will showcase its new mechanical stepper, innovative slot games, award-winning table progressives, and more at the Oklahoma Indian Gaming Association (“OIGA”) trade show on August 13 – 14.
Here are the top products to see at OIGA in Booth 732:
- An award-winning progressive platform for poker rooms: AGS continues to innovate on its proven table game progressive side bet systems and will showcase its latest innovation, Bonus Spin™ Xtreme for poker rooms. With an embedded table display, AGS premieres a side bet option that is sure to add incremental revenue to any poker room. In addition, don’t miss AGS’ highly reliable, easy-to-install single-deck specialty shuffler Pax S® and its poker shuffler Dex S®.
- Never-before-seen premium slot games: OIGA attendees will have a first look at AGS’ farm-themed, three-pot metamorphic game, Moo Cluck Oink™, on its Spectra UR43 Premium™ cabinet.
- There’s always more Spectra™ core: AGS displays its deep portfolio of games on its award-winning upright cabinet, Spectra UR43™ and Spectra UR49™, including recent Eilers-Krejcik Gaming Reports ‘Top 50 Indexing New Games – Core, Video,’ Money Charge Ying Da™.
- A timeless classic meets modern innovation called Revel™: First debuting at IGA earlier this year, AGS shows its three-reel mechanical stepper and three new games: Triple Treasure™, Liberty Diamond™, and Flaming Reels™.
AGS’ roots are firmly planted in Oklahoma
AGS was born in Oklahoma and started by supplying class II slot games to the state’s tribal gaming markets. Today, AGS continues to have strong ties to the community. Oklahoma is home to the Company’s primary manufacturing hub, where it assembles and delivers high-performing slot products to class II and class III customers across North America.
About AGS
AGS is a global company focused on creating a diverse mix of entertaining gaming experiences for every kind of player. Our roots are firmly planted in the Class II Native American gaming market, and our customer-centric culture and growth have helped us branch out to become a leading all-inclusive commercial gaming supplier. Powered by high-performing Class II and Class III slot products, an expansive table products portfolio, real-money gaming platforms and content, highly rated social casino solutions for operators and players, and best-in-class service, we offer an unmatched value proposition for our casino partners. Learn more at www.playags.com.
AGS Media Contact:
Julia Boguslawski, Chief Marketing Officer
[email protected]
Nikki Davis, Director, Marketing & Communications
[email protected]
AGS Investor Contact:
Brad Boyer, Senior Vice President of Investor Relations & Corporate Operations
[email protected]
©2024 AGS LLC. All® notices signify marks registered in the United States. All ™ and ℠ notices signify trademarks, which are not registered on any country-wide basis. Products referenced herein are sold by AGS LLC or other subsidiaries of PlayAGS, Inc.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9f7cfde3-3527-4ace-b696-0167df007c11
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