AGS, NeoGames Could Lead Gaming Tech Q3 Earnings Beats

Third-quarter earnings flavour is swell underway, and analysts are forecasting impressive reports from gaming technology firms and device manufacturers.

Everi Holdings (NYSE:EVRI) got that globe rolling today, reporting earnings per divvy up of 7 cents on sales of $168.3 million. Wall Street expected earnings of iv cents on revenue of $161.46 million. The Las Vegas-based slot simple machine maker and fintech provider also forecast total twelvemonth nett income of $98 1000000 to $100 gazillion on sales of $645 jillion to $653 million.

Analysts also look sturdy Sep quarter reports from PlayAGS (NYSE:AGS), iLottery provider NeoGames (NASDAQ:NGMS), and Scientific Games (NASDAQ:SGMS).

We are forecasting Q3 earnings beats for AGS, SGMS, EVRI (pre-released), & NGMS. Continued robust consumer trends, sack of modest sequential wallop from Delta variant and weather, should see to it upside to Street gaming ops estimates,” said Stifel analyst Jeffrey Stantial in a note of hand to clients.

PlayAGS is slated to account results for the July through and through Sep period on Thursday. Scientific Games and NeoGames step into the earnings confessional on Nov. 9 and Nov. 11, respectively.

Momentum for Gaming Tech Equities

Enthusiasm for gaming tech shares is building, as investors look for other shipway to child's play the gaming industry’s recovery beyond traditional casino operators. For example, shares of PlayAGS are up 18.65 percent over simply the past times week. The stock up is higher by 5.7 percent today on intensity that’s more than quadruple the daily average.

AGS derives the mass of its revenue from regional and tribal casinos, and Wall Street widely expects the society to save a 6th serial earnings beat out tomorrow. It’s expected AGS’ third-quarter installation base of operations should growth almost 300 units from the indorsement quarter, patch notching a win per building block increment of 20 percent from the July through Sep stop in 2019.

“We trust sequential advance in purchasing conduct likely reflects operator optimism amidst a continued level-headed consumer (exemplified past ramping manipulator return of capital) joined with a growing grasp for the cassino flooring as the gain hub,” adds Stantial.

The analyst says direction teams from gaming tech companies are likely to notice positively most fourth-quarter trends, but visibility beyond could be limited.

Loving Lottery

Stantial analysts also sees prescribed implications for drawing companies such as NeoGames and International Game Technology (NYSE:IGT).

“We cerebrate drawing will also follow an underappreciated benefactor of ongoing strength in the consumer,” said the analyst.

He says boilersuit US drawing fine sales likely jumped ogdoad percent inward the third billet from the same period inwards 2019, with inst ticket sales increasing 4 percent.

He boosts his Sep quarter revenue projection on NeoGames past just about $1 million, piece estimating an earnings before interest, taxes, depreciation and amortisation (EBITDA) pound of II percent.