Gaming tech supplier PlayAGS has completed a $49 million acquisition of pokie route operator Integrity gaming.
AGS has bought all of the operator’s issued and outstanding common shares for a total cash payment of CAD0.46 per share, and the deal will also include the repayment of outstanding debts, which is currently valued at around $35 million.
The terms of the agreement were announced last year, and state that AGS will be given the rights to start to integrate the brand, operations and teams, as well as take over management of their centralised services from their offices based in Oklahoma City.
AGS designs and supplies electronic gaming machines, which includes a number of table products, and their acquisition of Integrity Gaming means that they will now be able to add pokie machines to their list of production.
Andrew Burke, SVP of pokie products for AGS, has stated that they are thrilled to have so quickly completed the deal, and that they are ready to begin providing Integrity’s customer base with exception service and support. Confirmation of the deal came after Integrity shareholders voted to approve of the new acquisition, with a total of 99.99% in favour of the move. The deal only required that shareholders vote 66% in favour of the deal in order for it to get the green light. Once the voting was finished, Integrity received approval from the British Columbia Supreme Court to complete the deal.
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