PlayAGS, Inc.

PlayAGS, Inc.

PlayAGS, Inc.

Overview
Date Founded

2017

Headquarters

5475 South Decatur Boulevard, Suite 100, Las Vegas, NV, 89118, USA

Type of Company

Public

Employees (Worldwide)

762

Industries

Other Manufacturing
Industrial Conglomerates

Company Description

PlayAGS, Inc. designs and supplies gaming products. The company operates through three segments: Electronic Gaming Machines, Table Products, and Interactive Social Casino Games. The Electronic Gaming Machines segment includes server-based and back office systems. The Table Products includes live felt table games, side bets and card shuffler. The Interactive Social Casino Games segment provides casino games on desktop and mobile devices. Its products include slots, cabinets, interactive and table games. PlayAGS was founded in August 2013 and is headquartered in Las Vegas, NV.

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Executives & Employees

Chief Executive Officer, President & Director

Chief Financial Officer, Chief Accounting Officer & Treasurer

Secretary & Compliance Officer & General Counsel

Chief Marketing Officer & Executive Vice President-Investor Relations

Chief Technology Officer

Vice President & General Manager-Latin America

Executive Vice President

Senior Vice President-Slot Products

Senior Vice President-Table Products

Senior Vice President-Sales

Board of Directors

Senior Partner, Co-Lead Private Equity, Private Equity at Apollo Global Management, Inc.

President & Chief Executive Officer at Consumer Brands Association

Professional at Hedgeye Risk Management LLC

Operating Partner at Global Leisure Partners LLP

Former Managing Member at Silverton Partners III LP

Chief Executive Officer, President & Director at PlayAGS, Inc.

Professional at Apollo Global Management, Inc.

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PlayAGS, Inc.
Owners & Shareholders
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HG Vora Capital Management is an event-driven and value-oriented investment management firm which seeks to generate attractive risk-adjusted absolute returns by opportunistically investing in actively traded debt and equity instruments on a long and short basis. The firm has an extensive experience investing in certain sectors, including but not limited to gaming, lodging, leisure, real estate, retail and consumer, specialty finance, travel and other related sectors. They typically invest in businesses that may be characterized by an over leveraged balance sheet, operational challenges or may be undergoing a restructuring or some other form of strategic change. HG Vora Capital Management’s primary focus is on North American securities, but may include Europe, Asia and other non-US markets. The firm bases their investment decisions on fundamental and comprehensive research and analysis.

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BSP manages funds that may make investments in both publicly-listed and privately-held companies. The firm employs different methodologies to generate proprietary valuations and typically receives information directly from the entity (or its agents and/or representatives) it is investigating as a potential investment opportunity for a fund. They may invest cash held by the funds in temporary investments on a short-term basis, pending investment, distribution to investors or payments of expenses or other obligations of the funds.

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Gratia Capital pursues a single-name, fundamental value and event-oriented strategy that focuses on both individual and thematic investment opportunities (long and short) in three main sectors: consumer & services, industrials, and real estate. The firm assesses relative value between equity and credit opportunities on a company-specific, subsector specific (among peer groups), and macro level to identify strong, risk-adjusted investments. They seek to invest opportunistically across the capital structure and may at times employ equity positions as a hedge to credit positions, or vice versa.Gratia looks for long position opportunities that they believe exhibit compelling characteristics that will lead to mark-to-market price appreciation and/or capital return (dividends, interest, etc.). In general, the firm expects to take long positions in companies that are perceived to have stable prospects and attractive, growing free cash flow yields and good valuation multiples. Gratia prefers shorts in businesses that are perceived to have weak or declining business prospects, or business prospects dwarfed by peers, with respect to which Gratia has taken a long position. They may make investments outside of these general criteria depending on valuation and other factors. Investments are primarily focused in the US, although Gratia will opportunistically invest in other developed markets. In non-U.S. markets, Gratia primarily trades equities, and to a limited extent, corporate credit. The most common non-US markets that Gratia trades in include: Canada, Australia, United Kingdom, France, and Germany. In normal market conditions, the firm targets equity-like returns and, will likely hold more gross equity exposure than gross credit exposure. However, as Gratia seeks to be opportunistic in their weighting of equity versus credit, the proportions could change. In addition, Gratia may borrow money to purchase securities on margin.

Recent Transactions
Details Hidden

PlayAGS, Inc. issued USD Common Stock

Details Hidden

PlayAGS, Inc. purchases Integrity Gaming ULC

Details Hidden

PlayAGS, Inc. issued USD Common Stock

Transaction Advisors
Escrow Agent

Advised onPlayAGS, Inc. issued USD Common Stock

Underwriter

Advised onPlayAGS, Inc. issued USD Common Stock

Underwriter

Advised onPlayAGS, Inc. issued USD Common Stock

Head, Gaming & Leisure Industry Group

Advised onPlayAGS, Inc. issued USD Common Stock

Managing Director

Advised onPlayAGS, Inc. issued USD Common Stock

Managing Director

Advised onPlayAGS, Inc. issued USD Common Stock

Clients

News Corp. engages in the creation and distribution of media, news, education, and information services. It operates through the following segments: News and Information Services, Book Publishing, Digital Real Estate Services, Subscription Video Services, and Other. The News and Information Services segment consists of Dow Jones, News Corp Australia, News UK, the New York Post, and News America Marketing. The Book Publishing segment consists of HarperCollins which publishes and supply consumer books through print, digital, and audio formats. The Digital Real Estate Services segment offers property and property-related advertising and services as well as financial services. The Subscription Video Services segment provides video sports, entertainment, and news services to pay-TV subscribers, and other commercial licensees via cable, satellite and Internet Protocol, and distribution. The Other segment refers to general corporate overhead expenses, corporate strategy group, and costs related to the U.K. Newspaper Matters. The company was founded in 1979 and is headquartered in New York, NY.

Ainsworth Game Technology Ltd. engages in the design, development, production, lease, sale, and servicing of gaming machines and other related equipment. It operates through the following geographical segments: Australia, Americas, and Others. The company was founded by Leonard Hastings Ainsworth on March 7, 1995 and is headquartered in Newington, Australia.

MGM Resorts International is a holding company, which engages in the ownership and operations of casino resorts. The firm's casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. It operates through the following business segments: Las Vegas Strip Resorts, Regional Operations and MGM China. The Las Vegas Strip Resorts segment consists of the following casino resorts: Bellagio, MGM Grand Las Vegas, Mandalay Bay, The Mirage, Luxor, New York-New, Excalibur, Park MGM, and Circus Las Vegas. The Regional Operations segment consists of the following casino resorts: MGM Grand Detroit in Detroit, Michigan; Beau Rivage in Biloxi, Mississippi; Gold Strike Tunica in Tunica, Mississippi; Borgata in Atlantic City, New Jersey; MGM National Harbor in Prince George’s County, Maryland; and MGM Springfield in Springfield, Massachusetts. The MGM China segment consists of MGM Macau and MGM Cotai. The company was founded by Kerkor Kerkorian on January 29, 1986 and is headquartered in Las Vegas, NV.

Key Stats and Financials As of 2019
Market Capitalization
$247M
Total Enterprise Value
$955M
Earnings Per Share
$-0.33
Debt TEV
0.56x
TEVNet Income
-81.24x
Enterprise Value EBITDAOperating
7.71x
Enterprise Value / Sales
3.13x
Total Equity
$134M
Total Debt
$538M
EBITDAMargin
40.08%
EBITDA
$122M
Net Profit
$-11.8M
Revenue
$305M
Three Year Compounded Annual Growth Rate Of Revenue
21.12%
Investors
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Apollo Global Private Equity is an active manager which makes investments in the form of opportunistic buyouts and build-ups, corporate carve-outs, and distressed investments. The sectors in which the invests financial services, business services, consumer services, chemicals, natural resources, consumer & retail, leisure, manufacturing & industrial & media, telecom & technology, energy, metals & mining, and agriculture sectors. It also makes co-investments along with other flagship funds. The firm geographic focuses on mid-sized distressed companies located across the globe, primarily in North America.

Suppliers
Apple, Inc. Other Manufacturing | Cupertino, CA

Apple, Inc. engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America. The Europe segment consists of European countries, as well as India, the Middle East, and Africa. The Greater China segment comprises of China, Hong Kong, and Taiwan. The Rest of Asia Pacific segment includes Australia and Asian countries. Its products and services include iPhone, Mac, iPad, AirPods, Apple TV, Apple Watch, Beats products, Apple Care, iCloud, digital content stores, streaming, and licensing services. The company was founded by Steven Paul Jobs, Ronald Gerald Wayne, and Stephen G. Wozniak in 1977 and is headquartered in Cupertino, CA.

Facebook, Inc. Other Business & Consulting Services | Menlo Park, CA

Facebook, Inc. operates as a social networking company worldwide. The company engages in the development of social media applications for people to connect through mobile devices, personal computers, and other surfaces. It enables users to share opinions, ideas, photos, videos, and other activities online. The firm's products include Facebook, Instagram, Messenger, WhatsApp, and Oculus. The company was founded by Mark Elliot Zuckerberg, Dustin Moskovitz, Chris R. Hughes, Andrew McCollum, and Eduardo P. Saverin on February 4, 2004 and is headquartered in Menlo Park, CA.

Alphabet, Inc. Internet Software & Services | Mountain View, CA

Alphabet, Inc. is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube. The Other Bets segment consists of businesses such as Access, Calico, CapitalG, GV, Verily, Waymo, and X. The company was founded by Lawrence E. Page and Sergey Mikhaylovich Brin on October 2, 2015 and is headquartered in Mountain View, CA.

Competitors
Konami Holdings Corp. Computer Software - Tokyo, Japan

Konami Holdings Corp. engages in the development, production, and distribution of amusement arcade games, video game software products, social games, and entertainment content. It operates through the following segments: Digital Entertainment, Gaming & Systems, Amusement, and Sports. The Digital Entertainment segment provides mobile, computer, video, arcade, and card games. The Gaming & Systems segment develops, manufactures, distributes and services gaming machines and casino management systems for the casino market. The Amusement segment handles design, production and sales of amusement machines and online game services. The Sports segment manages and operates fitness clubs and sports classes; and also designs, manufactures and sells fitness machines as well as sports-related products. The company was founded by Kagemasa Kozuki on March 21, 1969 and is headquartered in Tokyo, Japan.

Scientific Games Corp. Casinos & Gaming - Las Vegas, NV

Scientific Games Corp. engages in the development of technology-based products and services and associated content. It operates through the following business segments: Gaming, Lottery, and SciPlay and Digital. The Gaming segment designs, develops, manufactures, markets, and distributes a comprehensive portfolio of gaming products and services. The Lottery segment comprises of system-based services and product sales business, and instant games business. The SciPlay segment developes and publishes digital games on mobile and web platforms. The Digital Segment provides a comprehensive suite of digital gaming and sports wagering solutions and services, including digital RMG and sports wagering solutions, distribution platforms, content, products and services. The company was founded on July 2, 1984 and is headquartered in Las Vegas, NV.

Ainsworth Game Technology Ltd. Industrial Machinery & Manufacturing - Newington, Australia

Ainsworth Game Technology Ltd. engages in the design, development, production, lease, sale, and servicing of gaming machines and other related equipment. It operates through the following geographical segments: Australia, Americas, and Others. The company was founded by Leonard Hastings Ainsworth on March 7, 1995 and is headquartered in Newington, Australia.

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