Inspired Entertainment places bid of $370m for PlayAGS
There's a new potential acquisition within iGaming
Inspired Entertained is a huge name within the iGaming space that moved into the sector in 2011 and hasn't looked back ever since. The company has grown from strength to strength, and this only looks to continue.
The iGaming giant has made an offer of $370m to acquire PlayAGS according to Reuters with an offered $10 per share in cash to acquire the slot machine maker.
Who is PlayAGS?
PlayAGS, also known as American Gaming Systems, is a global company focused on creating a diverse mix of entertaining gaming experiences for every type of player.
This comes in the form of online slots, land-based slots and social casino solutions. Players will be familiar with slot games such as Atlantis Riches, Aztec Chief and Bonanza Blitz to name a few.
What is Inspired Entertainment known for?
Whilst players may not be familiar with the name, the games from Inspired Entertainment are absolute classics. The Reel King series is one of the longest-running and most diverse slot series with multiple themes and mechanics throughout.
However, recent players will be familiar with the newest hits such as Big Egyptian Fortune, Big Fishing Fortune and Space Invaders to name a few.
PlayAGS responds
On the topic of the bid, Inspired Entertainment has declined to comment on the matter, but PlayAGS stated that the company had received a proposal and it has not accepted anything yet.
The discussions are still in a preliminary phase in regards to the potential deal and no transaction is certain yet.
“Willing to use capital,” says Inspired CFO
Despite not commenting on the matter directly, speaking on an analyst call on Wednesday, Inspired Entertainment CFO Stewart Baker said the group was actively looking at a number of M&A activities.
He added: “We are certainly willing to use capital for M&A if it’s something that strategically fits with what we are trying to do. And there seem to be a lot of things around right now presenting themselves as possibilities.”
Play the latest slot from Inspired Entertainment, Big Egyptian Fortune, here:
