Gambling in the USA
AGS Reports Second Quarter 2020 Results
AGS reported operating results for its second quarter ended June 30, 2020 .
“Although casinos started to reopen in the later part of the quarter, we remained disciplined in how we reintroduced cost back into the business, ramping departments that are essential to run our business, such as field service, R&D and manufacturing,” said AGS President and Chief Executive Officer David Lopez . “Initial game performance on EGM units that are in-service has been strong and better-than-expected, which allows us to lean on our strong recurring revenue footprint in this challenging environment. Prior to and even during COVID-19, we were seeing strong initial performance from our new products, such as the Starwall and Orion Rise , as well as continued momentum from our new titles on Orion Portrait and our suite of table game progressives. Given the breadth and depth of our current content portfolio, we believe that the long-term opportunities for AGS remain intact, and that we have ample liquidity and the best-in-class team to navigate through near-term uncertainties.”
Kimo Akiona , AGS’ Chief Financial Officer, added, “Our careful management of expenses and capital expenditures during the casino shutdowns in the quarter in addition to drawing $30 million under the existing revolving credit facility and entering into incremental term loans of $95 million have resulted in a strengthened liquidity position. Although it is hard to predict exactly how the pandemic will continue to impact the macro operating environment, given all of the measures we’ve taken, we believe we are positioned with sufficient liquidity and flexibility to emerge from this a more competitive and more nimble organization.”
Second Quarter 2020 Financial Results
During March and April and continuing through mid- to late-May of the current year, nearly all of our customers closed their operations due to business disruption caused by the global spread of COVID-19 and the actions by governments and businesses to contain the virus. The markets that we serve have been severely impacted, which is the primary reason for the decreases in the metrics noted above, specifically revenues, (loss) income from operations, net loss, Adjusted EBITDA, and Adjusted EBITDA margin.
A limited number of customers reopened in mid- to late-May and through June; by June 30 , approximately 500 of our 650 customers properties in the United States and Canada were partially open. In Mexico , 25 of our 320 customers properties were partially open as of June 30 .
Total revenue decreased to $16.8 million , primarily due to decreased gaming operations revenue and unit sales in our EGM segment.
Gaming operations revenue, or recurring revenue, decreased to $10.2 million compared to $53.6 million in the prior year period, primarily related to our leased EGMs and Table Products that were impacted by closed casinos. This decrease was slightly offset by increased revenue in our Interactive segment.
Net loss of $42.6 million increased year-over-year from net loss of $7.6 million in the prior year, primarily due to the decrease in EGM and Table Products revenue, partially offset by decreases in expenses that were a result of management’s actions taken to decrease spending amid COVID-19, including employee furloughs, a reduction in force, and salary reductions. Additional savings resulted from the Company’s focus to reduce expenses, primarily in sales and marketing activities, professional fees, and delayed development expenses.
Total Adjusted EBITDA (non-GAAP)(1) decreased to a loss of $1 .2 million compared to $35.7 million in the prior year period, driven by decreases in our EGM and Table Products segments and slightly offset by growth in our Interactive segment.
Gambling in the USA
Phoenix Link by Aristocrat Gaming Now Lighting Up Casino Floors
The hottest new game from Aristocrat Gaming, Phoenix Link, is now live on casino floors, with Yaamavaâ Resort & Casino being the first in North America to offer the highly-anticipated game. As the next evolution of the international hit game, Dragon Link, Phoenix Link features player-favorite mechanics from top games with all-new themes, features, and bonuses.
âWe have been humbled by the incredible global fanfare Dragon Link has received over the years but are never ones to rest on our laurels. The teams have been working tirelessly on a follow-up that brings together all the player-favorite elements in a new and exciting way with Phoenix Link as the proud result. We were thrilled to partner with Yaamavaâ to premiere Phoenix Link with flair, excitement, and celebration,â said Victor Duarte, executive vice president of product for Aristocrat Gaming.
Phoenix Link players will enjoy the gameâs additional denominations, configurations, and jackpots on each of the launch game theme titles. Gameplay features include Hold & Spin, Free Games with multiplier wilds or twin spin reels, Phoenix Mystery trigger, and more new bonus twists. Phoenix Link is available on the Neptune Single cabinet.
âYaamavaâ is thrilled to host yet another world premiere in gaming with the launch of Phoenix Link by Aristocrat Gaming. Our Club Serrano members are already raving about this captivating extension of the player-favorite Dragon Link. Itâs a great addition to the Yaamavaâ gaming floor,â said Kenji Hall, General Manager of Yaamavaâ Resort & Casino at San Manuel, said.
Gambling in the USA
NOVOMATIC shines at G2E 2024: A street smart showcase of innovation and engagement
In line with its commitment to innovation, NOVOMATIC unveiled several ground breaking product launches that left a significant impact on the gaming industry. The V.I.P. Xâ˘Â cabinet series emerged as one of the main attractions, highlighting models such as the V.I.P. X Royal⢠1.85, V.I.P. X Dream⢠3.43, and the V.I.P. X Lounge⢠2.32. The crown jewel of the presentation was the V.I.P. Galaxy⢠2.65, setting a new benchmark for luxury cabinets with its perfect blend of comfort and state-of-the-art gaming technology. Featuring high-definition screens and immersive sound systems, the fully adjustable lounge design promises an unparalleled gaming experience, leaving customers eager to introduce these innovations onto their gaming floors.
The unveiling of a new LED wall as part of the DIAMOND Xâ˘Â series, including the DIAMOND X⢠1.55J, showcased the U.S.-style designed Piggy Prizes title. The modern and interactive design sent a clear message: NOVOMATIC Americas has fully arrived, enhancing its reputation for premium entertainment experiences.
Groundbreaking Progressives and a Robust VGT Lineup
NOVOMATIC introduced a variety of THUNDER CASH⢠GOLD Progressives featuring new titles like Charming Ladyâs Boom Coinsâ˘Â and Red Amazon Explosionâ˘. The Globe Link⢠Xtension Volume 1 & 2 also attracted considerable interest, marking a significant impact with several new themes. The excitement surrounding these progressive games was palpable, bolstered by innovative math models and enticing bonus structures.
The VGT product range received special emphasis, particularly with the Street-Smart-themed area dedicated to highlight the themes and flexible assortment of cabinet styles for markets in Illinois, Pennsylvania, West Virginia, Puerto Rico, and Georgia. This dynamic showcase reinforced NOVOMATICâs commitment to providing leading solutions in performance and player appeal within the VGT sector. Featuring both NOVOLINEâ˘Â and Magic HD customer favorite themes, this area showed the new game mixes on DIAMOND X⢠2.32, BLACK EDITION II 3.27 & BLACK EDITION II 1.49J, V.I.P. X Lounge⢠2.32 and FUNMASTER 2.27. Specifically in Illinois, featuring the Magic HD game mix consisting of the Overlay Magic Play Lock & Spin feature, and the new Poker3â˘Â multi-hand video poker mix. NOVOLINEâ˘Â games were shown on the Black Edition II 1.49J cabinet with popular games like ULTRA BOOSTâ˘Â and Money Partyâ˘Â themes. Georgia Skill showed three new game titles in the Magic HD mix while more new titles lined the streets of the NOVOMATIC booth.
Advancements in Sports Betting and Casino Management
In addition to its product line, NOVOMATIC showed their cutting-edge sports betting kiosks including the ActionBook⢠Edge 1.43J, and ActionBook⢠Plus 2.27 models. With advanced graphics and rapid processing capabilities, these kiosks offer operators unmatched flexibility and performance. The premiere of the award-winning NOVOVISIONâ˘Â casino management system was another highlight, leveraging biometric technology for enhanced player recognition and streamlined operations. Already acknowledged as a âBest CMS/Software Productâ at the European Casino Awards, this system generated significant buzz regarding its potential to revolutionize the gaming landscape.
Industry Recognition for Creative and Commercial Success
The combination of NOVOMATICâs innovative product launches and captivating booth design earned widespread acclaim. The company was recognized for its Street-Smart booth, praised for creativity, interactivity, and the memorable experiences it fostered. Industry experts and attendees alike hailed NOVOMATICâs presence at G2E 2024 as one of the most impactful.
Alexander Merwald, CEO at NOVOMATIC Americas, stated, “G2E 2024 was an incredible success for NOVOMATIC. We were proud to showcase the V.I.P. X⢠cabinet series â Our ‘Street Games, Street Smart’ focus resonated strongly, as we demonstrated how our tailored solutions meet the real-world needs of both casino and VGT operators. The response from customers reaffirmed NOVOMATIC’s position as a leader in delivering innovation, performance, and market-specific strategies for North America.”
Thomas Schmalzer, VP of Global Sales, and Product Management at NOVOMATIC AG, added, “The product diversity and innovation showcased at G2E 2024 have been enthusiastically received by both operators and players. Our V.I.P. X⢠series and extensive range of progressives reflect our unwavering commitment to delivering premium solutions to the global market.”
With new partnerships established and product placements secured at G2E 2024, NOVOMATIC is primed to expand its market presence across North America. The success at this yearâs expo signifies a vital step forward in the companyâs mission to set the standard for gaming entertainment.
Gambling in the USA
Century Casinos Announces Opening Date for New Land-Based Century Casino & Hotel Caruthersville, MO
Century Casinos Inc. announced that its new land-based casino and hotel in Caruthersville, Missouri will open on November 1, 2024.
This news follows the Missouri Gaming Commissionâs approval to transfer the Century Casino & Hotel Caruthersville gaming license from a temporary pavilion to the new land-based location.
The new Century Casino & Hotel Caruthersville will have 599 slot machines and nine live table games, a 50% increase in gaming positions compared with the temporary location. The number of hotel rooms will double to 74. The construction of this new land-based casino and hotel started in December 2022 and will be finalized on time and on budget with an estimated project cost of $51.9 million, which has been funded by VICI Properties Inc. (VICI). VICI will own the real estate improvements associated with the Caruthersville project, which will become part of the Companyâs triple net master lease agreement with subsidiaries of VICI. Annual rent under the lease will increase by approximately $4.2 million.
The opening of the new land-based casino will be celebrated with a ribbon-cutting event at 11:30 a.m. Central Time on Friday, November 1, and a flurry of activities over the opening weekend.
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