In This Story
PlayAGS Inc. (AGS-0.21%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total revenues of $394.9 million for the year, an increase from $356.5 million in 2023. This growth was driven by higher equipment sales and gaming operations revenue.
Gaming operations revenue increased to $251.7 million, while equipment sales rose to $143.1 million, reflecting a rise in EGM units sold.
Operating expenses totaled $322.5 million, up from $299.1 million the previous year, due to increased costs in gaming operations and equipment sales.
The company reported a net income of $51.6 million, a significant increase from $0.4 million in 2023, largely due to a tax benefit of $32.5 million.
PlayAGS ended the year with cash and cash equivalents of $38.3 million and total assets of $709.6 million.
The company's liabilities stood at $596.9 million, including long-term debt of $530.4 million.
The report highlights the company's focus on expanding its market presence and product offerings in the gaming industry.
PlayAGS acknowledges the competitive landscape and regulatory environment as key factors influencing its operations and future growth.
The filing also details the company's strategic initiatives, including its merger agreement with Brightstar Capital Partners, expected to close in the second half of 2025.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the PlayAGS Inc. annual 10-K report dated March 6, 2025. To report an error, please email earnings@qz.com.