Newly Public PlayAGS Take its Table Games International
Slot machine-maker PlayAGS made its public debut on the New York Stock Exchange Friday, and CEO David Lopez sees opportunity for growth both in the U.S. and abroad.
“We’re actually entering the Philippines in the Latin bingo space right now,” he told Cheddar. “That’s about a 70,000-unit market...Then in Brazil...if a new law goes into effect you’ll see 500,000 or so video bingo machines come online.”
The company, which primarily serves the Native American Market, brought in revenues of $154 million in the first nine months of 2017 and swung to a profit of $13.6 million for that period.
And though the gaming industry has come under pressure from the rise of online and mobile gambling, Lopez says he’s not worried about his casino games getting poached.
“It’s a little bit of a training ground for brick and mortar...If you talk about millennials you think, ‘Hey, when are those millenials going to walk into those casinos and start gambling?’ Well some of it starts on their phone.”
PlayAGS, backed by private equity firm Apollo Investment, sold 10.3 million shares at $16 apiece in its IPO, valuing it at the low end of its expected range at about $550 million.
The stock, which trades under the ticker “AGS”, rose more than 15 percent in its first day of trading.
For full interview [click here](https://cheddar.com/videos/playags-rings-nyse-opening-bell-to-celebrate-ipo).
The Good Charcoal Company offers eco-friendly, chemical-free charcoal sourced from Namibian acacia wood, promoting sustainable grilling practices nationwide.
After a few months of positive data, the Fed chair says he’s in no rush to cut rates – and this analyst says inflation could stick around for the near future.
As the DOJ potentially prepares to file criminal charges against Boeing, an industry expert breaks down what went wrong – and how it could make things right.
The Fed chair seems pleased with how far inflation has fallen, but according to this analyst, we could be waiting until 2025 to hit that crucial 2% goal.
While the Fed has made it clear that it won’t consider cutting rates until at least September, one analyst is expecting a whopping seven cuts in a row.