AGS Completes Acquisition of Integrity Gaming

Las Vegas-based designer and supplier of electronic gaming machines, PlayAGS, who recently obtained a PA license, has officially finished the acquisition of slot route operator, Integrity Gaming Corp.

Canadian slot machine supplier for casino operators, Integrity Gaming, and Nevada-based innovative developer, manufacturer, and supplier of casino games, systems, and technology…

…announced this deal back in December, but the official confirmation was not final until this week.

Contract Details

The deal was completed at $49 million, where AGS summoned all Integrity Gaming shares, both issued and outstanding, for an amount of CAD $0.46 per share. According to the deal, AGS will repay all $35 million in debts for this Canadian operator.

As stated in the contract, AGS will now integrate the acquired brand into their company, as well as their operations and team…

…and manage them from offices in Oklahoma.

“We are thrilled to have so quickly closed this deal and are ready to provide Integrity’s customers with exceptional service and ,” Senior Vice President of AGS slot products, Andrew Burke, said.

“Every Integrity customer is also an AGS customer, so this should be a relatively seamless transition and one that gives us an opportunity to work with operators to ensure they are getting the best performance from their Integrity-placed games,” Burke added.

Waiting for the Shareholders

Before becoming a 100% owner, AGS had to wait for confirmations from shareholders. They voted last week and approved this acquisition with 99% of the votes in favor of this deal. In order to proceed, the company had to get 66% of the votes.

After gaining the shareholders’ , both companies had to wait for British Columbia Supreme Court approval to complete the transaction.

Robert Miodunski, who became a CEO at Integrity Gaming after Peter Macy quit in June 2018, said that the company will surely benefit from this deal:

“We strongly believe this is a good transaction for our company and that our customers will benefit from AGS’ deep roots in Oklahoma and its proven ability to successfully manage a large footprint of leased games to drive strong performance for gaming operators.”

More About AGS

Play AGS is a world-known company focused on creating a diversity of entertaining gaming experiences. The roots of this company are planted in the Class II Native American gaming market, but being customer and goal-oriented, it became one of the most all-inclusive commercial gaming suppliers in the world.

This wasn’t the first big acquisition for the company. Back in June, it bought Gameiom Technologies Limited for $5 million in cash. Gameiom is a software company licensed by the Gibraltar Gambling Commission…

…and provides various opportunities for real-money gaming and sports betting across Europe.

Source:

“AGS completes acquisition of Integrity Gaming”, igamingbusiness.com, February 11, 2019.