PlayAGS turns down $370 million offer

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PlayAGS turns down $370 million offer

Inspired Entertainment’s bid of 370 million dollars got rejected by PlayAGS.

The gambling provider PlayAGS is currently in talks with the multi-national online gaming tech conglomerate Inspired Entertainment about a possible buyout. However, recently the provider rejected an offer from its partner of an acquisition at 370 million dollars.

AGS’s current market cap when the figure was offered was sitting at just above 220 million dollars, or about 6.05 dollars per share. In contrast, Inspired’s bet of 370 million amounted to 10 dollars per share.
Shortly after the rejection was made public, the provider’s shares jumped as high as 8.5 dollars per share, and are sitting at 8.1 dollars per share as of writing. That amounts to a market cap of about 300 million dollars.

Along with the news, PlayAGS stated that negotiations are still ongoing, as both companies seek to find a sum they’re both happy with. Inspired, on the other hand, has not yet commented anything about the failed attempt.