As the US online casino industry enjoys unprecedented success, the gaming operators themselves aren’t the only parties reaping the rewards. The companies that provide them with necessary products and services, like AGS, are similarly seeing new levels of achievement.
AGS ended 2022 with its best earnings for the final quarter of a calendar year ever. That performance also helped the company maintain an impressive growth trend.
AGS shares Q4 2022 gaming results
According to a press release, the final three months of 2022 were extremely good for AGS. The company’s President and Chief Executive Officer David Lopez commented on the strong performance in the release.
“Our record-setting fourth quarter results reflect the accelerating returns we continue to realize on investments made into our R&D, sales and product management teams over the past several years” Lopez stated. “Looking ahead to 2023, I see a set of company-specific growth catalysts forming within all three segments of our business that should allow our recent operating momentum to continue.”
Some of the highlights of the report:
- AGS’ total revenue for Q4 2022 came to $81.7 million, a 16% increase from the same time frame in 2021
- Net income came to $2.5 million for the quarter
- US slots revenue accounted for $46.8 million, which was an 8% year-over-year improvement
- Worldwide, AGS sold over 1,000 slot units for the second quarter in a row
AGS’ online casino customers played a part in the success as well.
Online slots, table games hold steady for AGS
The release points out that the online casino segment of AGS’ business at the least held steady if not slightly improved during Q4 2022. For example, real-money online casino content (as opposed to social casino) revenue grew by 7% year-over-year to eclipse $2 million for the third consecutive quarter.
In total, AGS’ online slots are active in over 70 online casino brands across the globe. In the United States, that includes all of the top five highest revenue generating brands. Just before 2022 closed, DraftKings Casino became the latest of those and those games launched on the app last month for New Jersey players.
AGS expects even better returns in 2023, as its presence in online gambling in North America continues to grow. The final quarter of last year will be a memorable one for the company for some time, however.