Emmett Investment Management (EIM), a shareholder of AGS, has formally opposed Brightstar Capital Partners’ acquisition of AGS. EIM, which holds 1.5% of AGS’s outstanding stock, claims that the buyout offers minimal to no premium for shareholders. Priced at $12.50 per share in cash, the acquisition reflects a 41% premium to AGS’s volume-weighted average share price over the previous 90 days. Although AGS’s CEO David Lopez defends this price as providing substantial cash value for stockholders, EIM argues that recent strong financial results should have driven the share price higher. EIM points out that if Q1 results were considered, the acquisition price should reflect AGS’s enhanced valuation. They also mention that AGS’s potential market share could increase due to the upcoming IGT and Everi merger. Ultimately, EIM believes AGS has a promising future as a standalone company, projecting a share price of $24.70 based on its 2026 adjusted EBITDA estimates.

Private Equity, Gaming and Casinos, Investment Management,United States