Apollo Global Management Divests Ownership in PlayAGS Following Collapsed Merger

Apollo Global Management is divesting its ownership in PlayAGS. This action follows the collapse of a proposed merger between PlayAGS and Inspired Entertainment earlier this year, prompting conjecture that PlayAGS might seek further funding. Apollo, via its associated funds, is offloading all 8,208,076 shares it possesses in the gaming equipment maker. PlayAGS itself will not receive any income from the transaction. Morgan Stanley and B. Riley Securities will manage the sale, presenting the shares through diverse avenues such as brokerage exchanges and arranged agreements. The precise valuation of the shares will hinge on market dynamics and discussions at the point of sale.

The deal fell through when Apollo chose not to provide their signature.

Was this choice influenced by their recent sale of PlayAGS shares? The answer remains unclear.

Financial analysts can ponder the potential connections.