Gaming machine and interactive solutions provider PlayAGS has completed the proposed acquisition of Vancouver-based slot operator Integrity Gaming Corp. “This acquisition,” said the Las Vegas firm, “increases AGS’ recurring revenue footprint by more than 2,700 games and presents yield optimization opportunities.”
Under the terms of the deal, AGS has acquired all issued and outstanding common shares of Integrity Gaming Corp for a cash payment of CAD$0.46 per share, reflecting a total transaction value of USD$49m, which includes repaying USD$35m of Integrity’s outstanding debt. The acquisition was funded with cash on the balance sheet.
Commenting on the finalized agreement, AGS Senior Vice President of Slot Products Andrew Burke said: “We are thrilled to have so quickly closed this deal and are ready to provide Integrity’s customers with exceptional service and support. 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.”
Integrity’s installed base of more than 2,700 Class III and Class II games in Oklahoma and Texas includes slot machines manufactured by various slot suppliers, including AGS, in approximately 30 tribal casinos.
Now that the transaction has closed, Integrity’s brand, operations, and team will be integrated under AGS, with centralized service and support managed from AGS’ Oklahoma City, Oklahoma offices.
