Longtime gaming research analyst Brad Boyer is joining AGS and will serve as vice president of the casino equipment provider’s investor relations and corporate development division.
In a statement Monday, Las Vegas-based AGS said Boyer is bringing strong relationships with the investor community and in-depth knowledge of the AGS leadership and business to the position.
Brad Boyer, AGS
Boyer has spent 10 years in equity research for gaming and leisure for Stifel, Nicolaus, and Co., in Baltimore. He handled coverage of equipment suppliers and operators – including AGS – and companies in the sports, i-Gaming, and hospitality sectors.
“Brad possesses a unique knowledge of our industry and the company, which will prove to be invaluable in our evaluation of (mergers and acquisitions),” AGS CFO Kimo Akiona said Monday. “Even prior to our (initial public offering), Brad’s always been an advocate of AGS, and we look forward to his contributions to our growth.”
Akiona added that Boyer has a “wealth of experience with sell-side and buy-side equity analysts, and a deep knowledge of AGS, our customers, our competitors, and our team.”
Shares of AGS, traded on the New York Stock Exchange, closed $3.57 Monday, down 50 cents, or 1,38%.
In the second quarter, AGS posted a net loss of $42.6 million due to the shut down of casinos nationwide brought about by the coronavirus pandemic. However, CEO David Lopez said in August the company had revived its field service, research and development, and manufacturing operations.
“Given the breadth and depth of our current content portfolio, we believe that the long-term opportunities for AGS remain intact,” Lopez said.
Howard Stutz is the executive editor of CDC Gaming. He can be reached at hstutz@cdcgaming.com. Follow @howardstutz on Twitter.
