Item 7.01 Regulation
FD Disclosure
On April 21, 2020, AP Gaming I, LLC (“APG”), a subsidiary of PlayAGS, Inc. (the “Company”), announced that it is seeking to amend
that certain First Lien Credit Agreement, dated as of June 6, 2017, as amended on December 6, 2017, as amended and restated on February 7, 2018, as amended and restated on October 5, 2018 and as amended on August 30, 2019, among APG, AP Gaming
Holdings, LLC, the lenders party thereto and Jefferies Finance LLC, as administrative agent (the “Credit Agreement”), to, among other things, make certain modifications to the financial covenant and certain negative covenants and other
provisions of the Credit Agreement. In addition, APG announced that it is seeking to raise an additional $80.0 million of new first lien debt, the proceeds of which will be used for general corporate purposes. The amendment and financing
transaction are subject to market and other conditions, and may not occur as described or at all. As of March 31, 2020, after giving effect to the previously announced borrowing of the full amount of $30.0 million under its revolving credit
facility, the Company had approximately $43 million of cash and cash equivalents.
In connection with the amendment and the related transactions, APG will provide a presentation to its lenders, and certain slides
from the presentation are attached to this report as Exhibit 99.1.
The information in this Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for the purposes of
Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in this Item 7.01 shall not be incorporated by reference into any registration statement or other document
pursuant to the Securities Act of 1933, as amended.
The information in this Current Report on Form 8-K, including Exhibit 99.1, contains forward-looking
statements based on management’s current expectations and projections, which are intended to qualify for the safe harbor of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements include statements regarding the public offering and other statements identified by words such as “believe,” “will,” “may,” “might,” “likely,” “expect,” “anticipates,” “intends,” “plans,” “seeks,”
“estimates,” “believes,” “continues,” “projects” and similar references to future periods, or by the inclusion of forecasts or projections. All forward-looking statements are based on current expectations and projections of future events. These
forward-looking statements reflect the current views, models, and assumptions of the Company, and are subject to various risks and uncertainties that cannot be predicted or qualified and could cause actual results in the Company’s performance
to differ materially from those expressed or implied by such forward looking statements. These risks and uncertainties include, but are not limited to, the ability of the Company to maintain strategic alliances, unit placements or
installations, grow revenue, garner new market share, secure new licenses in new jurisdictions, successfully develop or place proprietary product, comply with regulations, have its games approved by relevant jurisdictions, the effects of
COVID-19 on the Company’s business and results of operations, and other factors set forth under “Item 1A. Risk Factors” in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 4, 2020. All
forward-looking statements made herein are expressly qualified in their entirety by these cautionary statements and there can be no assurance that the actual results, events or developments referenced herein will occur or be realized. Readers
are cautioned that all forward-looking statements speak only to the facts and circumstances present as of the date of this Current Report on Form 8-K. The Company expressly disclaims any obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.