This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Multimedia Games’ First Quarter Revenue Increases 27% To $44.3 Million; EBITDA Rises 31% To $21.4 Million

Stocks in this article: MGAM

“TournEvent®, our award-winning slot tournament system, represented approximately 46% of our total units sold in the quarter and as of December 31, 2012, is installed at 137 casinos nationwide. When in tournament mode, this proprietary product instantly creates an engaging atmosphere, creating a buzz that frequently results in higher slot floor traffic and increased floor-wide revenue performance for our customers. We are further leveraging this product’s success with a first-of-its-kind nationwide TournEvent of Champions® promotional event that will culminate with a national final in Las Vegas in September.

“Gaming operations remains a key driver of our overall business and represents a stable and growing foundation for our long-term growth. During the fiscal 2013 first quarter, our installed base of participation games eclipsed 11,000 units as we grew the number of our High Rise Games® by nearly 61% and further diversified our installed base with over 75% of our unit growth coming from markets outside of Oklahoma. Over the last two quarters we have added over 1,000 recurring revenue units to our domestic installed base which helped drive the fiscal 2013 first quarter gaming operations revenues to our highest levels since the September 2008 quarter.”

Ramsey concluded, “We are excited by the progress made to date in fiscal 2013. Our games are clearly resonating with players as evidenced by their enhanced performance in a highly competitive marketplace, while customer demand in both existing and new markets continues to grow. We currently address approximately 45% of the domestic slot market and expect to begin serving the Nevada market in the second half of fiscal 2013, which will expand our total addressable market to approximately 65%. Additionally, assuming receipt of all regulatory approvals, we expect to begin serving New Jersey, Pennsylvania and Illinois within the next 24 months. We believe our entry into these markets combined with our established momentum in unit sales and installed base growth provides a foundation for continued growth.”

2 of 11

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs