Brightstar set to take PlayAGS private in $1.1bn deal

May 9, 2024
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The two companies have reached an agreement that sees AGS go private.

Supplier PlayAGS (AGS) is set to be acquired by Brightstar Capital Partners for $1.1bn, in a deal that removes the company from the stock market.  

The acquisition was unanimously approved by the Board of Directors and will see all shareholders receive an inflated price (41%) of $12.50 per share.  

AGS’ product portfolio extends over slot and table options as well as casino content, which will now be at the disposal of Brightstar Capital Partners. The deal removes AGS from the stock market as of May 8, making it the latest company to pursue the path of privatization.  

Recently, Endeavor also went private, after it was acquired by Silver Lake for $13bn in April. Another company considering a similar move is Bally’s.  

President and CEO of AGS, David Lopez, said, “We are very pleased to reach this agreement, which we believe provides our stockholders with compelling, certain cash value. Joining forces with Brightstar represents an exciting new chapter for AGS and our mission to provide exceptional gaming solutions for our operator partners.”  

In a recent article published by Gambling Insider, which theorizes why more and more companies may seek to go private, the waning popularity of IPOs, enhanced bureaucracy and reduced volatility are detailed in the possible motives for making such a decision.

Roger Bulloch, Partner at Brightstar, said, “We trust that partnering with AGS and executing on our shared vision can accelerate the Company’s ability to create even greater value for its customers and players around the world.”

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