{"id":6607,"date":"2024-02-07T02:04:21","date_gmt":"2024-02-07T02:04:21","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/02\/07\/playags-initiates-financial-restructuring-to-multiply-savings\/"},"modified":"2024-02-07T02:04:21","modified_gmt":"2024-02-07T02:04:21","slug":"playags-initiates-financial-restructuring-to-multiply-savings","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/02\/07\/playags-initiates-financial-restructuring-to-multiply-savings\/","title":{"rendered":"PlayAGS Initiates Financial Restructuring to Multiply Savings"},"content":{"rendered":"<div>\n<p>PlayAGS, a prominent player in the gaming entertainment sector, has recently concluded a significant financial maneuver aimed at optimizing its credit facility. The company strategically repriced its term loan credit facility, aligning with its objective to enhance financial efficiency.<\/p>\n<p>In its recent financial maneuver, PlayAGS targeted two key objectives: removing the credit spread adjustment related to term loan borrowings and reducing the interest rate applied to such borrowings. The company succeeded in slashing the interest rate to the secured overnight financing rate plus 3.75%, a move expected to bolster its financial position.<\/p>\n<p>Alongside the repricing initiative, PlayAGS made a substantial repayment of $15 million towards its outstanding debt. These strategic actions are forecasted to yield substantial savings, exceeding $3 million in annualized cash interest expense.<\/p>\n<h2>Strategic Vision and Financial Objectives<\/h2>\n<p>Kimo Akiona, the Chief Financial Officer of AGS, emphasized the company\u2019s commitment to lowering net leverage through a combination of sustained adjusted EBITDA growth and enhanced free cash flow conversion. Akiona reiterated, \u201cToday\u2019s announced transactions should help to expedite the achievement of our near and intermediate-term deleveraging objectives.\u201d<\/p>\n<p>PlayAGS, through its subsidiary AGS, has been actively expanding its presence in the US gaming market. Recent approvals in Colorado and Missouri have paved the way for the company to introduce its portfolio of electronic gaming machines (EGMs) to casino operators in these regions. This expansion enables casino patrons to enjoy a diverse range of AGS titles, further solidifying the company\u2019s position in the domestic gaming landscape.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/sbet\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"Sportbet\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/12\/250x250-sportbetone.png\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/sbet\/\" title=\"Sportbet\" target=\"_blank\" rel=\"nofollow noopener\">Sportbet<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>175% Extra +<strong> $75 Risk Free Bet<\/strong>!<\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. 175% on 1st Deposit + $75 Risk Free Bet<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino &#038; Sports<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/sbet\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Additionally, PlayAGS continues to innovate with platforms like Spectra UR43, featuring popular titles from the Triple Coin Treasures brand. With a strong track record of success in various North American jurisdictions, the company is optimistic about the reception of these titles in <a href=\"https:\/\/igaming.org\/casino-news\/playags-launches-in-missouri-and-colorado\/\">Colorado and Missouri<\/a>.<\/p>\n<p>PlayAGS\u2019 recent financial restructuring not only underscores its commitment to financial prudence but also reflects its strategic vision to drive growth and innovation in the global gaming industry. With a focus on optimizing operational efficiency and expanding market reach, the company remains poised for continued success in the dynamic gaming landscape.<\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/playags-initiates-financial-restructuring-to-multiply-savings\/\">PlayAGS Initiates Financial Restructuring to Multiply Savings<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>PlayAGS, a prominent player in the gaming entertainment sector, has recently concluded a significant financial maneuver aimed at optimizing its credit facility. The company strategically repriced its term loan credit facility, aligning with its objective to enhance financial efficiency. In its recent financial maneuver, PlayAGS targeted two key objectives: removing the credit spread adjustment related [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-6607","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/6607","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=6607"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/6607\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=6607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=6607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=6607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}