PlayAGS (AGS) Announces January 26th IPO

PlayAGS (AGS) plans to raise $175 million in an initial public offering on Friday, January 26th, IPO Scoop reports. The company will be issuing 10,300,000 shares at a price of $16.00-$18.00 per share.

In the last 12 months, PlayAGS generated $197 million in revenue and had a net loss of $56.8 million.

Credit Suisse, Deutsche Bank Securities, Jefferies, Macquarie Capital, BofA Merrill Lynch, Citigroup, Nomura, Stifel and SunTrust Robinson Humphrey served as the underwriters for the IPO and Roth Capital Partners, Union Gaming, The Williams Capital Group and Apollo Global Securities were co-managers.

PlayAGS provided the following description of their company for its IPO: “We are a leading designer and supplier of EGMs and other products and services for the gaming industry. Founded in 2005, we historically focused on supplying EGMs, including slot machines, video bingo machines, and other electronic gaming devices, to the Native American gaming market, where we maintain an approximately 20% market share of all Class II EGMs.    “.

PlayAGS was founded in 2015 and has 550 employees. The company is located at 5475 S. Decatur Blvd., Ste #100, Las Vegas, NV 89118, US and can be reached via phone at (702) 722-6700 or on the web at http://www.playags.com.

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