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Gaming equipment supplier PlayAGS (AGS) entered into a definitive merger agreement on May 9, 2024, to be acquired by the affiliates of Brightstar Capital Partners for about $1.1 billion.
As per the terms of the agreement, Brightstar will pay PlayAGS shareholders $12.50 per share in cash, representing a 39.5% premium from the stock’s last closing.
The slot machines, tables, and other interactive casino products supplier expects the deal to close in the second half of 2025. After the completion, PlayAGS will become a privately held company. The shares of AGS will stop trading on the NYSE upon completion.
The PlayAGS board, which unanimously approved the merger, recommended that the company’s stockholders approve of the deal too.
Brightstar Capital Partners is a middle-market private equity firm that invests in industrial, manufacturing, and services businesses.
“With Brightstar’s resources and strategic guidance, PlayAGS will be well-positioned to make targeted investments in R&D, top talent, operations, and industry-leading innovation, which should accelerate the company’s global footprint,” said David Lopez, the chief executive officer of PlayAGS.
For a more in-depth analysis, please refer to the Deal Metrics page:
Deal Metrics for the acquisition of PlayAGS, Inc (AGS) by Brightstar Capital Partners.
Editor’s Note: Baranjot Kaur contributed to this article
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