On May 8, 2024, PlayAGS, Inc., a Nevada-based global gaming supplier, entered into a definitive merger agreement with Bingo Holdings I, LLC, an affiliate of private equity firm Brightstar Capital Partners, and its subsidiary Bingo Merger Sub, Inc. The agreement stipulates that PlayAGS will merge with Bingo Merger Sub and survive as a wholly owned subsidiary of the parent company. The board of directors of PlayAGS has unanimously approved the transaction and recommended that stockholders vote in favor of the merger. Shareholders of PlayAGS will receive $12.50 per share in cash, which represents a significant premium over the recent average and closing share prices. The transaction is backed by equity and debt financing commitments from Brightstar-affiliated funds and financial institutions, including...Show More

On May 8, 2024, PlayAGS, Inc., a Nevada-based global gaming supplier, entered into a definitive merger agreement with Bingo Holdings I, LLC, an affiliate of private equity firm Brightstar Capital Partners, and its subsidiary Bingo Merger Sub, Inc. The agreement stipulates that PlayAGS will merge with Bingo Merger Sub and survive as a wholly owned subsidiary of the parent company. The board of directors of PlayAGS has unanimously approved the transaction and recommended that stockholders vote in favor of the merger. Shareholders of PlayAGS will receive $12.50 per share in cash, which represents a significant premium over the recent average and closing share prices. The transaction is backed by equity and debt financing commitments from Brightstar-affiliated funds and financial institutions, including Barclays Bank PLC, Citizens Bank, N.A., and Jefferies Finance LLC. The merger is subject to customary closing conditions, including stockholder approval and regulatory clearances, and is expected to close in the second half of 2025. Upon completion, PlayAGS will become a private entity and its shares will be delisted from public markets. The merger agreement also outlines certain termination rights and fees applicable under specific circumstances. In light of the proposed transaction, PlayAGS has canceled its conference call for first quarter 2024 financial results and will not issue a quarterly earnings release, but will file its 10-Q for the quarter ended March 31, 2024, with the SEC.