AGS Pitch Deck: 27-Slide Breakdown

See all 27 slides of the AGS pitch deck — an Entertainment & Media deck — with a slide-by-slide teardown of what the deck does well and where it falls short.

The AGS Investor Overview from June 2018 is a data-heavy presentation designed for sophisticated institutional investors, likely following their January 2018 IPO. The deck excels at demonstrating historical growth, citing a 217% revenue increase from 2014 to the LTM ending March 31, 2018. It utilizes a clear 'land and expand' narrative, showing how the company leverages its Electronic Gaming Machine (EGM) footprint to cross-sell table products and interactive gaming. While the deck is light on 'visionary' storytelling, it compensates with extreme financial transparency, including a consolidat…

Key takeaways

Executive Summary: The Post-IPO Growth Engine

The AGS Investor Overview from June 2018 is not a typical startup pitch deck. Published shortly after the company's IPO, it serves as a comprehensive operational update for institutional shareholders. The deck is characterized by extreme data density, focusing on the 'how' and 'how much' rather than the 'why.' For founders, this deck is a masterclass in demonstrating how M&A (Mergers and Acquisitions) can be integrated into a core product narrative to show a path toward market dominance.

Slide 1: Title and Visual Identity

The cover slide establishes the brand's physical presence. It features a high-fidelity render of the AGS product ecosystem: the 'Colossal Diamonds' cabinet, 'Bonus Spin' blackjack tables, and the 'dex S' card shuffler. By including mobile devices in the top right corner, AGS immediately signals its omni-channel approach (land-based and interactive). The tagline 'Obsessed with the game' and the 'June 2018' date stamp set the professional tone expected of a publicly traded entity.

Slide 3: Performance and Leadership

This slide serves as the 'Team' and 'Traction' slide combined. It lists seven key executives, highlighting their deep industry roots. CEO David Lopez is noted for 20+ years of experience, while the team collectively averages over a decade in the gaming sector. The 'Years at AGS' column is particularly telling; most of the C-suite joined around 2-3 years prior to the deck, suggesting a team brought in specifically to scale the company toward its IPO.

The right side of the slide presents a powerful KPI table comparing 2014 to 3/31/18. The growth figures are staggering: EGM Sold Units increased by 1,057% (from 255 to 2,950) and Total Revenue grew by 217% (from $72 million to $229 million). The inclusion of 'Gaming Licenses' (up 61% to 260) is a crucial industry-specific metric that demonstrates the widening of their regulatory moat.

Slide 6: Product Portfolio Diversification

Slide 6 uses a puzzle-piece graphic to show how the four business segments—Cabinets, Titles, Table Products, and Interactive—fit together. The key takeaway here is the 'Ability to Cross-Sell.' AGS isn't just selling a machine; they are selling a content ecosystem. They highlight that 50+ titles are set to launch and mention the 'New Orion family' of cabinets. This slide addresses the 'Product' requirement of a pitch by showing both the hardware (cabinets/shufflers) and the software (titles/mobile games) that drive recurring revenue.

Slide 9: Table Products Segment Deep Dive

This slide focuses on the high-margin Table Products division. It notes that the segment has nearly 100% recurring revenue and recently became EBITDA positive . The bar chart shows a 68.3% CAGR in the installed base, growing from 815 units in 2015 to 2,631 units by March 2018. The timeline at the bottom is a strategic roadmap of M&A, showing the acquisition of Buster Blackjack (2015) and assets from In Bet Gaming (2017). This proves to investors that AGS can successfully identify, acquire, and integrate smaller players to fuel growth.

Slide 12: Domestic Footprint and Market Penetration

The heat map of the U.S. and Canada provides a geographic breakdown of their market share. The pie chart indicates that 69% of their units are in 'Established' markets , with Oklahoma (74,787 units) and Nevada (161,484 units) being the primary strongholds. The 'Prospective' blue-shaded states (like PA, IL, and KY) represent the immediate domestic growth runway. This slide is essential for showing that despite their size, there is still significant 'white space' in the U.S. market.

Slide 15: International Expansion Strategy

AGS categorizes its global ambitions into three tiers. The 'Immediate Upside' focuses on the Philippines, where they target 3,000-5,000 units (4-7% of the market), and Canada, where they are launching into three new jurisdictions. The 'Pending Legislation' section highlights Brazil as a massive 500,000-unit opportunity where they already have MOUs for ~8,700 leased units . This slide gives investors a clear timeline for international revenue realization.

Slide 18: Cash Flow and Unit Economics

This is arguably the most important slide for a financial analyst. It breaks down why the AGS business model is superior to its peers. They claim a Total Adj. EBITDA margin of 51% , compared to the industry average of ~32%. The slide also reveals highly attractive unit economics: a 12-month payback on core units and an 8-month payback on premium units . The bar chart showing a 99% cash flow conversion rate since 2017 demonstrates that the company is a 'cash cow,' capable of self-funding its R&D and debt deleveraging.

Slide 23 & 24: The Appendix and Consolidated Summary

Slide 23 is a simple transition to the Appendix. Slide 24, the 'Consolidated Operational Summary,' is a dense spreadsheet that would usually be hidden in a data room. It tracks every major metric from 2014 through Q1 2018. Notable figures include the Interactive segment's Average MAU of 200,741 and the EGM segment's Average Sales Price of $16,833 . This level of transparency is designed to build absolute trust with the investor base by showing the granular trends behind the headline growth numbers.

What Works in This Deck

1. Unapologetic Data Transparency: Unlike many decks that use vague 'up and to the right' arrows, AGS provides exact figures for every KPI. Citing an 8-month payback period (Slide 18) is a powerful way to prove capital efficiency.

2. Clear Segmentation: By breaking the business into EGM, Table Products, and Interactive, AGS allows investors to value the company as a sum-of-the-parts. They show that while EGMs are the current breadwinner, Table Products are the high-growth recurring revenue engine.

3. Regulatory Moat Visualization: Slide 12's map isn't just about sales; it's about licensing. In the gaming industry, licenses are the ultimate barrier to entry, and showing 260 licenses (Slide 3) proves their competitive advantage.

What is Missing

1. Competitive Landscape: The deck mentions 'peers' in passing (Slide 18) but never names them or provides a direct feature-by-feature comparison. In a crowded market with giants like IGT or Scientific Games, this is a notable omission.

2. Risk Factors: As a post-IPO deck, one might expect a slide addressing the risks of international expansion or the volatility of the 'Interactive' gaming space, though these are likely covered in their SEC filings.

3. Detailed Use of Proceeds: While they mention 'reinvestment in high ROI growth,' there is no specific breakdown of how the next $50M or $100M will be spent—likely because this is an 'Overview' rather than a specific 'Ask' deck.

Founder Takeaway: Copy the 'Unit Economics' Slide

If you are a founder in a hardware-enabled SaaS or a capital-intensive industry, Slide 18 is your blueprint. Most founders fail to articulate the 'Payback Period' of their physical assets. AGS wins by showing that their machines pay for themselves in less than a year. If you can prove to an investor that every dollar they give you will be 'returned' by the customer in 8 months, you aren't just asking for money—you are offering a high-yield investment vehicle. Additionally, the 'Consolidated Operational Summary' (Slide 24) is a great example of how to organize a multi-year data table for a series B or C round where historical trends are scrutinized as much as future projections.

Frequently asked questions

What is the primary revenue driver for AGS according to this deck?
The primary driver is the Electronic Gaming Machine (EGM) segment. As shown on Slide 24, EGM revenue accounted for $216.2 million of the $229 million total LTM revenue as of March 2018. The deck emphasizes a recurring revenue model through an installed base of 24,033 units, which generates a 'Domestic RPD' (Revenue Per Day) of $26.
How does AGS handle competition and market entry?
AGS uses a mix of organic R&D and strategic acquisitions. Slide 9 highlights four major acquisitions between 2014 and 2017 to build their Table Products division. For market entry, Slide 12 shows they categorize jurisdictions as 'Established,' 'Ramping,' or 'Prospective,' allowing them to focus resources on states like PA and MS which are in the 'Ramping' phase.
What are the specific unit economics for their hardware?
Slide 18 provides specific ROI metrics that are rare in most pitch decks. They claim a 12-month payback period for 'core units' and a faster 8-month payback for 'premium units.' This is supported by an industry-leading Adjusted EBITDA margin of 51%, significantly higher than the peer average of ~32%.
What is the status of their international expansion?
As of June 2018, the Philippines was the immediate focus with units shipping in 2018 to target a 70,000-unit market. Canada was also in 'Immediate' status with a launch planned for three jurisdictions. Brazil represents the largest long-term 'Pending' opportunity, where AGS already has MOUs for ~8,700 leased units (Slide 15).
Is the company profitable based on these slides?
Yes, the company emphasizes its 'Strong Cash Flow Conversion.' Slide 18 shows that since 2017, they have maintained a 99% cash flow conversion rate (defined as EGM Adjusted EBITDA minus maintenance capex, divided by EGM Adjusted EBITDA). They also noted the Table Products segment recently became EBITDA positive (Slide 9).
Cover slide of the AGS pitch deck — IPO
AGS pitch deck, slide 1

AGS pitch deck: the facts

Company
AGS
Stage
IPO
Slides
27
Sector
Entertainment & Media

AGS pitch deck PDF

The full AGS deck is embedded on this page and can be read slide by slide in the browser — no download or account required. Each slide is covered in the breakdown above.

What the PlayAGS, Inc. (AGS) pitch deck was used for

This is PlayAGS, Inc.'s "AGS Investor Overview – June 2018" deck, a 27‑slide investor presentation for public‑market investors following the company’s January 2018 IPO on the NYSE under the ticker AGS. The deck positions AGS as a diversified gaming supplier with electronic gaming machines, table games, and interactive social casino products, highlighting consistent growth and best‑in‑class game performance. It was used to communicate the company’s post‑IPO equity story and growth strategy, including expansion into new markets such as Brazil and the Philippines and ongoing M&A and R&D investment. The stage is public‑company (post‑IPO), and the presentation is an investor overview rather than a primary capital‑raising roadshow.

Business model: Designer and supplier of electronic gaming machines (EGMs), table games, and interactive/social casino content for the global gaming industry.

Year
2018
Investors
Credit Suisse, Deutsche Bank Securities, Jefferies, Macquarie Capital, BofA Merrill Lynch, Citigroup, Nomura, Stifel
Headquarters
5475 S. Decatur Blvd., Suite 100, Las Vegas, Nevada 89118, United States.
Industry
Gaming equipment and technology (consumer discretionary / entertainment & media).

Round: Initial public offering (IPO) of common stock on the New York Stock Exchange under the ticker AGS.

Raised: Approximately $164 million in gross proceeds from the IPO by offering 10,250,000 shares at $16.00 per share, plus approximately $23 million in net proceeds from the full exercise of the over‑allotment option for 1,537,500 additional shares.

Lead investor: Credit Suisse and Deutsche Bank Securities (as representatives of the underwriters and joint book‑running managers).

Use of funds as presented: Estimated net proceeds (approximately $158.7 million at a midpoint price assumption) were intended primarily to repay outstanding debt and for general corporate purposes, including working capital. Subsequent investor materials indicate that AGS repriced its debt after the IPO to reduce interest costs.

What happened after the PlayAGS, Inc. (AGS) deck

The fundraise associated with AGS’s investor deck was its January 2018 initial public offering of common stock on the NYSE. The company offered 10,250,000 shares at $16.00 per share, raising approximately $164 million in gross proceeds, followed by the full exercise of the underwriters’ over‑allotment option for an additional 1,537,500 shares. IPO proceeds were used chiefly to reduce debt and supp

What the PlayAGS, Inc. (AGS) deck got right

What could have been stronger

How an investor would read this deck

What draws attention

Risks that stand out

Questions this deck invites

What founders can take from the PlayAGS, Inc. (AGS) deck

PlayAGS, Inc. (AGS) pitch deck: common questions

What does AGS do, according to the June 2018 Investor Overview deck?

PlayAGS, Inc. (trading as **AGS** on the NYSE) is a Nevada corporation based in Las Vegas that designs and supplies electronic gaming machines (EGMs), table games, and interactive/social casino content for the gaming industry. The June 2018 Investor Overview deck describes a "diverse portfolio" across cabinets, game content, new table equipment, and expanding interactive channels.

When did AGS go public, and what were the key terms of its IPO?

AGS completed its initial public offering of **10,250,000 shares of common stock** at a public offering price of **$16.00 per share** on **January 25, 2018**, listing on the New York Stock Exchange under the symbol **AGS**. The IPO raised approximately **$164 million** in gross proceeds, with all shares offered by the company according to IPO analyses.

What did AGS use its IPO proceeds for?

The company’s SEC registration statements and prospectus state that the IPO proceeds (approximately **$158.7 million** in estimated net proceeds at a midpoint price of $17 per share) were to be used primarily to repay outstanding debt and for general corporate purposes, including working capital. Subsequent filings and investor materials note that AGS also repriced its debt after the IPO to reduce interest costs as it continued its growth strategy.

What key investment highlights does AGS emphasize in the June 2018 Investor Overview deck?

AGS’s June 2018 deck highlights that **leases drive 78% recurring revenue**, providing high revenue visibility, while sales expand and diversify the product and customer mix. It also claims **industry‑leading EGM Adjusted EBITDA margins** that fund high‑ROI growth investments, and underscores consistent historical growth of U.S. gaming revenue (about 2% annually since 2014) as a favorable market backdrop.

Which future growth and expansion themes does AGS mention in its forward‑looking statements in the deck?

The cautionary note in the deck specifies that forward‑looking statements include plans to expand into new markets, "including into overseas markets such as Brazil and the Philippines," and discusses anticipated future operating results, business plans, and strategies. These statements are explicitly identified as forward‑looking and subject to U.S. federal securities law safe‑harbor provisions.

Sources

Funding and outcome facts on this page were researched on 2026-08-21 from the pages below.

AGS pitch deck slides

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AGS pitch deck — slide 1 of 27
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What each slide of the AGS pitch deck says

Slide 2

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This presentation contains and related discussions may contain "forward-looking statements" within the meaning of U.S. federal securities laws. Forward-looking statements include information concerning possible or assumed future results of operations of PlayAGS, Inc.'s (the "Company"), the Company's business plans and strategies, the Company's ability to sell the Company's products, and expand into new markets, including into overseas markets such as Brazil and the Philippines. You can identify forward-looking statements by the use of words such as "may," "might," "will," "should," "could," "would," "expect," "plan," "anticipate," "believ…

Slide 3

INVESTMENT HIGHLIGHTS Favorable Market Backdrop Attractive Business Model w/ HighPerforming Products Consistent historical growth: U.S. gaming revenue has grown 2% annually since 2014 Strong future growth prospects: U.S. tax reform, U.S. unemployment at 18-year low, continued expansion of the experience economy Potential acceleration of replacement cycle * AGS not dependent on the replacement cycle, but acceleration could enhance Class Ill growth Leases drive 78% recurring revenue, which provides high revenue visibility * Sales provide a tremendous opportunity to expand and diversify product and customer mix AGS generates industry-leading EGM Adjusted EBITDA margins, which fund high-ROI gro…

Slide 4

Years Years at AGS Drives Innovation Through its Unique Culture r. ¢ CEO 20+ 3+ = +600 employees around the globe Ano. y David Lopez = R&D employees represent ~30% of total AGS employees TO WORK FOR CFO 18+ 2+ = Unique culture sets us apart from other companies Kimo Akiona = Our employee-centric culture will continue to attract high-caliber talent > 3) cmo Julia Boguslawski EGM Installed Units 8,735 24,033 + 175% CTO 15+ 2+ Sigmund Lee EGM Sold Units 255 2,950 4+ 1,057% Eve 12+ =i Matt Reback Domestic RPD $21 $26 + 21% SVP of A Slots LL : Gaming Licenses 161 260 + ox Andrew Burke EE SVP of Revenue ($ in mm) $72 $229 * 27x Table 12+ 3+ Products John Hemberger Note: EG sold units, domestic BP…

Slide 5

AGS COMPANY OVERVIEW FINANCIAL SNAPSHOT | SEGMENT BREAKDOWN SIGNIFICANT WHITESPACE LTM 3/31/18 OPPORTUNITY $229mm LTM Revenue RECURRING REVENUE n +31% Y-0-Y 78% ) "wm 4 EGM: $216mm = $116mm LTM Adj. EBITDA BER rer. L m OY +31% Y-0-¥ Table Products: $5mm 1m +97% Y-0-Y 3/31/18 W B 51% LTM Adj. EBITDA margin grace) Son gevense \ CORPORATE EVOLUTON —/8m/—™—™—™————————— DEC 2013 _ MAY 2014 MAY 2015 <@grm- DEC 2017 ACQUIRED _ <7 ACQUISITION OF TB ACQUISITION OF FOSKEL. ACQUISITION OF ROCKET BY APOLLO" COLOSSAL GAMING CADILLAC JACK GAMING ASSETS TFT T [i 208] 3) »QQS 2005 Cag FEB 2014 JULY 2014 JUNE 2015 AGS FORMED KS 0210 LOPEZ 7 FORMATION OF TABLE tl APPOINTED CEO PRODUCTS DIVISION u FROUASITION…

Slide 6

AtIPO (9/30/17) Now (3/31/18) $157mm sz2omm 16% $1020m St16mm ws or EE ” oe BEE = Domestic Leased 19.562 2123 19% Since IPO, AGS Has Continued to Outperform Across Key Financial Metrics and KPIs AQS OBSESSED ~ with the game 5

Slide 7

DIVERSE PORTFOLIO PROVIDING COMPLETE SUITE OF PRODUCTS Cabinets Unique Cabinet Designs 0 A PP Content Drives Drive Performance ooty . 3 Performance = New Orion family significantly expands premium offerings = 50+ titles set to launch = Some of the highest performing games in the industry = Demand continues for ICON cabinet Expanding Interactive Channels Leverages land-based EGMs = Newly launched B2B business New Table Equipment ® 30+ unique offerings = New single-deck card shuffler = Potential upside from real money gaming Qq OBSESSED with the game

Slide 9

EGM SEGMENT AGS HAS BEST-IN-CLASS GAME PERFORMANCE z Over 98% of customer trial units resulted in conversion to a lease or sale z AGS casino-owned EGMs generated win per day that is 1.74x the house average() Z AGS premium leased games generate win per day that is 2.39x the house average(? z Two large R&D studios in premier locations that continually produce top-performing game titles Casino-Owned Domestic Game Performance(") Premium Leased Domestic Game Performance(") Performance over house average Performance over house average 0.9x »QS AxOGm - B vorownc GE onam %?ér R aolm *29S SGE @ieT i D G T ) Q1 EILERS-FANTINI Quarterly Slot Survey Qq OBSESSED with the game

Slide text above is read directly from the AGS deck PDF embedded on this page.

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