Brightstar Capital Partners, a private equity firm specializing in industrial, manufacturing, and service businesses, has entered into a definitive agreement to acquire PlayAGS, Incorporated (NYSE: AGS), a global supplier of high-performing slot, table, and interactive products. This acquisition, valued at approximately $1.1 billion, was announced on May 9, 2024, from Las Vegas, NV, and New York.

The Board of Directors of AGS has given unanimous approval for the agreement and recommended the Company’s stockholders to do the same. As per the agreement, AGS shareholders will receive $12.50 per share in cash, representing a 41 percent premium to the Company’s volume-weighted average share price over the last 90 days and a 40 percent premium to AGS’ closing price on 8 May 2024 AGS, a global company, is known for creating a diverse mix of entertaining gaming experiences for every kind of player. Its high-performing slot products, expansive table products portfolio, and highly rated online casino content make it a valuable partner for casinos worldwide.

Key Takeaways	Milestones
✅ Brightstar’s Acquisition	Brightstar acquires PlayAGS, Inc for $1.1 billion Unanimous approval from Board
✅ Shareholder Benefit	AGS shareholders will receive premium of $12.50 per share in cash,
✅ Future Growth	Acquisition will enable investments in R&D and innovative approach to game development.

Brightstar and AGS: a partnership for growth

David Lopez, CEO & President of AGS, expressed his pleasure at reaching the agreement, stating that it provides compelling, certain cash value for their stockholders. He believes that the partnership with Brightstar opens an exciting new chapter for AGS in its mission to provide exceptional gaming solutions for its operator partners. With Brightstar’s resources and strategic guidance, AGS is expected to be well-positioned to make targeted investments in R&D, top talent, operations, and industry-leading innovation, accelerating its global footprint. Andrew Weinberg, Founder & CEO of Brightstar, looks forward to working with David and the AGS team to capitalize on opportunities by taking a long-term approach to creating value. He believes that AGS’s strong pipeline of new products and its innovative approach to game development provide significant potential for continued growth. Roger Bulloch, Partner at Brightstar, has been impressed by AGS’ award-winning products, differentiated culture, and outstanding reputation in the expanding industry. He trusts that partnering with AGS and executing on their shared vision can accelerate the Company’s ability to create even greater value for its customers and players around the world.

Road ahead

The proposed transaction, expected to close in the second half of 2025, is subject to customary closing conditions, including 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. In light of the proposed transaction, AGS has cancelled its previously announced conference call to discuss its first quarter 2024 financial results. Additionally, AGS will not be issuing a quarterly earnings release. The Company expects to file its 10-Q for the quarter ended 31 March, 2024, with the SEC. This strategic acquisition marks a new chapter in the global gaming industry, with Brightstar Capital Partners and AGS joining forces to create a more vibrant and diverse gaming experience for players worldwide.