[bsa_pro_ad_space id=1 link=same] [bsa_pro_ad_space id=2]

Skip to Content

Supplier News

US – Former AGA President Geoff Freeman joins AGS Board

By - 12 November 2018

Former American Gaming Association President and Chief Executive Officer Geoff Freeman has joined the AGS Board of Directors.

Mr. Freeman, who stepped down from his role as President and Chief Executive Officer of the American Gaming Association (AGA) in August, is now the President and Chief Executive Officer of the Grocery Manufacturers Association, the leading representative of the $2.1tn food, beverage, and consumer products industry.

AGS President and Chief Executive Officer David Lopez said: “We are excited to welcome Geoff as a new independent director to the AGS Board. Not only does he have a proven track record of effecting significant positive change in our industry, he is a recognized and respected business leader who brings deep strategic, operational, and market development experiences that span across multiple industries. Geoff is an extraordinary executive and a great cultural fit who brings a new perspective to our Board and will be invaluable to the continued growth and success of AGS.”

During his five-year tenure at the helm of the AGA, Mr. Freeman led the trade organization to monumental successes that have forever changed the face of the gaming industry, including expanding the organization’s membership by 200 percent; overturning the Professional and Amateur Sports Protection Act of 1992 (PASPA), which led to legalized sports betting in the U.S.; significantly improved relationships between tribal and commercial gaming operators; spearheading the AGA’s Get to Know Gaming campaign focused on the economic benefits of gaming; and delivering a successful campaign to prevent the IRS from lowering the reporting threshold on slot winnings.

Mr. Freeman said, “I’m honored to join the AGS Board of Directors at such an exciting time in the company’s growth journey. Having worked closely with David Lopez and the entire AGS leadership team on numerous initiatives, including their annual GameON Customer Summit, I’m excited to help this passionate, experienced, innovative, and intelligent team take the Company to the next level. I have tremendous respect for the AGS Board, and I look forward to working with them to help AGS continue its momentum.”

The company made the announcement having confirmed its record ever quarter. Total revenue increased 34 per cent to $75.5m, driven by continued growth of the group’s EGMs in the Class III marketplace, including entry into Alberta, Canada as well as a large sale to a long-standing tribal customer.

Recurring revenue grew to $50.7m, or 18 per cent year-over-year. In addition to the contribution from the EGMs purchased from Rocket Gaming, the increase was driven by our strong domestic revenue per day (RPD) of $27.14, up $1.70 year-over-year as well as increases in Table Products revenue driven by an increase in Table Product units.
EGM equipment sales increased 82 per cent to $24.7m, another company record, due to the sale of 1,332 units, of which approximately 24 per cent were sold in Canada and 276 units were sold to a long-standing tribal customer.

Mr. Lopez said: “In the third quarter, AGS sold 1,332 EGMs, a 58% jump year-over-year, and a company record. Revenue hit an all-time high of $75.5 million, demonstrating continued demand for our Orion Portrait cabinet and growing momentum for our new Orion Slant, in addition to significant progress in Canada, with 24% of our sold EGMs placed in several Canadian provinces. Our Tables segment posted its best quarter to date, with our innovative progressives contributing to a 30% increase in installs year-over-year. AGS is still very underrepresented in many markets both domestically and internationally, which presents significant long-term growth opportunities for the Company due to our industry-leading game performance, an expanding suite of cabinet options, best-in-class R&D, and diversified product offerings.”

Share via
Copy link