Inspired Entertainment in $370m bid to buy PlayAGS

Finance News

Inspired Entertainment has made a $370 million offer to acquire slot machine maker PlayAGS Inc, people familiar with the matter said on Friday.

Inspired has offered $10 per share in cash to acquire PlayAGS, the sources said. PlayAGS shares had ended trading on Thursday at $6. They jumped on the news on Friday and closed up 25% at $7.52.

PlayAGS confirmed in a statement that it had received a proposal. It added that it did not accept it but remained in preliminary discussions about a potential deal.

The New York-based firm reported a 72% jump in quarterly revenue to $71.3 million this week, as its business rebounds from pandemic lockdowns.