PlayAGS agrees to Brightstar Capital Partners acquisition
The slots supplier has recommended that shareholders approve the deal.
US.- The board of the NYSE-listed slot machine and igaming supplier PlayAGS (AGS) has agreed to a take over by the private equity fund Brightstar Capital Partners. The board has recommended that shareholders approve the deal, which values the company at around $1.1bn.
The deal would see AGS shareholders receive $12.50 per share in cash, a 41 per cent premium over the closing price on the NYSE on May 8. AGS President and CEO David Lopez said Brightstar could provide resources and guidance for targeted investments in R&D, operations and innovation.
He said: “We are very pleased to reach this agreement, which we believe provides our stockholders with compelling, certain cash value. Joining forces with Brightstar represents an exciting new chapter for AGS and our mission to provide exceptional gaming solutions for our operator partners.”
Brightstar Founder and CEO Andrew Weinberg said: “We look forward to working with David and the AGS team to capitalize on opportunities by taking a long-term approach to creating value. AGS has a strong pipeline of new products, and we believe the company’s innovative approach to game development provides significant potential for continued growth.”
PlayAGS expects the deal to complete in the second half of 2025 subject to customary closing conditions, the receipt of regulatory approvals and approval by a majority of AGS stockholders. Upon completion of the transaction, AGS will become a privately held company and shares of AGS common stock will no longer be listed on any public market.
Last year, PlayAGS opened a branded slot room at Miccosukee Casino & Resort in Miami, Florida. The space offers 33 AGS titles, including Rakin’ Bacon and Rakin’ Bacon Deluxe games. The space features a neon selfie wall, a floor-to-ceiling mural with floating pigs, and LED billboard-wrapped entrances.
