Supplier News
US – PlayAGS looking at sales jump from $46.6m to $70.8m for last quarter
By Phil - 19 January 2022
PlayAGS has selected preliminary financial results for the fourth quarter and full year ended December 31, 2021 in conjunction with the company’s intention to explore a refinancing of its outstanding revolving credit facility and term loan credit facilities.
A refinancing transaction could include increasing the size of the company’s revolving credit facility, extending its debt maturities and reducing its borrowing costs. Additionally, the company could look to use a material amount of cash on the company’s balance sheet that could exceed $50m in connection with such refinancing.
AGS President and Chief Executive Officer David Lopez said: “Our preliminary fourth quarter 2021 financial results further reflect the operating momentum we are witnessing across all three segments of our business. I continue to believe we have the best lineup of new products in our Company’s history and am excited about the opportunities that lie ahead.”
PlayAGS is predicting adjusted EBITDA of $30.67m to $32.82m on sales of $68.4m to $70.8m for the October through December period of 2021. That compares with adjusted EBITDA of $21.29m on revenue of $46.62m in the year-earlier quarter. The company’s EBTIDA margin is expected to be 44.8 per cent to 46.4 per cent, compared with 45.7 per cent in the final three months of 2020.
