The Newsroom

Investigations  /  06.30.2020

Investigation of PlayAGS, Inc.

You Have Legal Options

PlayAGS, Inc. (AGS) Accused of Misleading Shareholders 

On March 5, 2019, PlayAGS announced in its 2019 outlook an expected adjusted EBITDA of $160-$164 million, representing growth of approximately 17%-20% compared to 2018. On May 8, 2019, PlayAGS continued to tout its positive financials, announcing an increase of 13% in total revenue for first quarter 2019 due to “continued growth in [its] [electronic gaming machine] segment, primarily [selling] units in… Michigan, Saskatchewan, Pennsylvania, and Massachusetts.” However, PlayAGS failed to disclose that the Company had been experiencing challenges in Oklahoma that would negatively impact its revenue. This impact was revealed on August 7, 2019, when PlayAGS reported a net loss of $7.6 million for second quarter 2019, including a $3.5 million impairment to goodwill and another $1.3 million impairment in iGaming reporting unit due to extended regulatory timelines that delayed revenues. PlayAGS also cut its 2019 expected adjusted EBITDA to $145-$150 million, now representing growth of only 6%-10% from 2018. On this news, PlayAGS’ stock declined $8.99 per share, or 52%, closing at $8.31 per share on August 8, 2019.

If you purchased PlayAGS, Inc. (AGS) securities between August 2, 2018 and August 7, 2019, you have until August 4, 2020, to ask the court to be appointed lead plaintiff for the class.

  • If you would like more information about your rights and potential remedies please send us a message. 

  • Please Note: Neither the submission to nor the receipt of information by Robbins LLP or one of its attorneys through this website constitutes an agreement by our firm to represent the individual and does not create an attorney-client relationship. Please do not send confidential or sensitive information through this website. This information should be communicated through a direct contact with an individual at the firm.


How can we help you?

CONTACT US TODAY | 1 800 350 6003 or [email protected]

Tell us your concerns