PlayAGS Shares Pop Premarket On Takeover Offer At 33% Premium

August 15, 2022 7:50 AM | 1 min read | Make a Comment

Gaming equipment provider Inspired Entertainment, Inc INSE offered $370 million to acquire slot machine maker PlayAGS, Inc AGS, Reuters 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.