AGS, a technology provider for the gaming industry, announced impressive financial performance for the final quarter of 2023, concluding a year of unprecedented expansion. The firm’s income reached $94.2 million, a 15% surge in contrast to the corresponding period the previous year. This achievement signifies the eleventh consecutive quarter of revenue growth exceeding 10% for AGS. This accomplishment was driven by robust results across all segments of their operations, encompassing electronic gaming devices, tabletop games, and their digital branch. Earnings, quantified as adjusted EBITDA, also attained an all-time high of $42.8 million. Chief Executive Officer David Lopez commended the AGS workforce and emphasized the company’s varied product portfolio and streamlined operations as crucial factors in their sustained achievements. Throughout the entirety of 2023, AGS generated $3.67 billion in overall revenue, a 15.2% rise compared to 2022.

Although net profits plummeted by 97.4% to $6.7 million, AGS reported a robust final quarter, surpassing projections with a 14.7% surge in adjusted EBITDA, reaching $42.8 million. This propelled their adjusted EBITDA margin beyond a remarkable 45%.

This achievement was driven by expansion across all of AGS’s business divisions, with an especially notable outcome in hardware sales.

Their consistent revenue flow, mainly from gaming activities, remained steady at $59.6 million. Simultaneously, hardware sales escalated by over 40% year-on-year, hitting a historic $34.6 million, fueled by substantial demand for both their electronic gaming devices and tabletop gaming offerings.

Further illustrating their forward momentum, AGS debuted their well-received slot game, Rakin’ Bacon Odyssey, on the Caesars Digital platform within New Jersey this month.