- Gaming equipment provider Inspired Entertainment, Inc (NASDAQ:INSE) offered $370 million to acquire slot machine maker PlayAGS, Inc (NYSE: 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.
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