PlayAGS slides as #1 holder Apollo to sell remaining stake

Inspired Entertainment

14/11/2022 21:53

** PlayAGS Inc's  AGS.N  shares down ~13% post-market after
slot machine maker launches secondary offering
    ** Apollo Global Management  APO.N  to sell ~8.2 mln shares
with JP Morgan and B. Riley as underwriters  urn:newsml:reuters.com:*:nPn3HZYhTa
    ** Top investor Apollo would divest its remaining ~22%
stake, per Refinitiv data
    ** On Sept 8, AGS ceased discussions with Inspired
Entertainment  INSE.O  about possible buyout, a month after it
confirmed the gaming equipment maker's $10/sh bid
    ** AGS closed up 3.9% at $6.35 on Mon, trimming YTD loss to
6.5%
    ** After the bell last Tues, posted 16% yr/yr rev growth of
~$78 mln in Q3, topping consensus view of $75.6 mln, per
Refinitiv IBES data  urn:newsml:reuters.com:*:nTUABFCJBJ
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))