PlayAGS Shares Pop Premarket On Takeover Offer At 33% Premium

  • Gaming equipment provider Inspired Entertainment, Inc INSE offered $370 million to acquire slot machine maker PlayAGS, Inc AGSReuters reports.
  • Inspired offered $10 per share in cash to acquire PlayAGS.
  • The offer price implies a 33.2% premium on PlayAGS's August 12 closing of $7.51.
  • PlayAGS makes gaming tables and interactive solutions for gaming houses.
  • PlayAGS is now worth a fifth of what the market valued in 2019 as the pandemic wreaked havoc on the casino gaming industry.
  • Inspired Entertainment supplies gaming solutions in casinos and bars, including virtual sports and mobile gaming.
  • Inspired Entertainment held $31.8 million in cash and equivalents as of June 30.
  • Price Action: AGS shares traded higher by 7.78% at $8.10 in the premarket on the last check Monday.
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