AGS reveals plans to consider refinancing transaction

January 29, 2024
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The deal includes possibly repaying up to $15m of its total outstanding debt.

PlayAGS has disclosed plans to consider refinancing its term loan credit facility. The refinancing “may include decreasing the interest rate required to be paid under such facility,” the company said.

Part of the plan could include voluntarily repaying up to $15m of its total outstanding debt connected with the refinancing deal. PlayAGS provided a presentation to potential leaders today.

The presentation included “certain preliminary estimated financial data for the fourth quarter,” which ended on December 31.

PlayAGS outlined the details regarding moving forward with the transaction by saying, “The company intends to file a current report on Form 8-K with the Securities and Exchange Commission (SEC) that will include the preliminary estimated financial data.”

American Gaming Systems (AGS), a subsidiary of the parent company, PlayAGS. As a global gaming entertainment supplier, the company provides the global gaming industry with slot, table, interactive products and services.

The company recently broadened its US footprint by gaining recent approval to release its portfolio of electronic gaming machines (EGMs) to casino operators in Colorado and Missouri. Through the release, casino patrons in both states can access a wide variety of AGS titles.

The company described the achievement as a “significant milestone” and said the expansion is on target with its goal to grow as a supplier within the North American market.

Players in the US can also access the company’s Spectra UR43 platform, which features titles from the Triple Coin Treasures brand. The company said it is confident that these titles will gain a following in Colorado and Missouri the way they have in other jurisdictions around North America.

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