M&A - PlayAGS, Inc.

Form Type: 8-K

Filing Date: 2025-03-17

Corporate Action: Merger

Type: New

Accession Number: 000143774925008007

Filing Summary: PlayAGS, Inc. has entered into a Merger Agreement with Bingo Holdings I, LLC and Bingo Merger Sub, Inc. to merge with the Company, which will survive as a wholly owned subsidiary of Bingo Holdings. The Agreement outlines a proposed transaction with financing commitments from Barclays Bank PLC, Citizens Bank, N.A., and Jefferies Finance LLC, totaling $775 million for a term loan, $75 million for a delayed draw term loan facility, and $100 million for a revolving credit facility to cover merger considerations. The anticipated closing of the merger is expected in the second half of 2025, subject to regulatory approvals and conditions, along with various risks identified regarding the transaction's completion and impact on the Company's operations.

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Form Type: 10-K

Filing Date: 2025-03-06

Corporate Action: Merger

Type: Update

Accession Number: 000143774925006461

Filing Summary: PlayAGS, Inc. has proposed a merger with Brightstar Capital Partners. The merger is anticipated to bring about significant changes to the company, with potential benefits including increased market access and operational efficiencies. The company has highlighted various risk factors that could impact the merger, such as competition, regulatory hurdles, and changes in market dynamics. As of June 30, 2024, the market value of common equity held was $445,653,164. The document also outlines the company's financial performance and discusses significant accumulated debt and losses, affecting its operational capacity and future financing options. PlayAGS reports a history of challenges in maintaining profitability while navigating the complexities of the casino and gaming industry. The discussion includes forward-looking statements concerning the company’s strategic objectives and potential impacts of broader economic conditions on its business.

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