On May 14, 2024, Emmett Investment Management LP announced that issued an open letter to shareholders of PlayAGS Inc, stating that to share with the shareholders of the Company its concerns regarding company?s recently announced take-private transaction with Brightstar Capital Partners, and it does not believe the take-private transaction is in the best interest of stockholders. In addition, Emmett Investment Management stated that it believes the Company would have a bright future as a standalone public company, with at least $225 million in 2026 adjusted EBITDA clearly achievable, and even on a multiple of 7x adjusted EBITDA a significant discount to slower-growing peer Light and Wonder's 9x NTM multiple Company shares would trade at $24.70, nearly 100% higher than Brightstar's bid. Further, Emmett Investment Management stated that it does not oppose to take-private offer, but Brightstar's offer fails to reward stockholders for the strong performance the Company has already demonstrated and fails to account for the Company's significant potential, and Emmett Investment Management stated that it intends to vote against the proposed take-private transaction with Brightstar Capital Partners.