American casino currency and table games equipment innovator, Gaming Partners International (GPI) Corporation h 7BALL CC as announced that it is set to be fully acquired by Japanese counterpart, Angel Holdings Godo Kaisha via a transaction worth upwards of $110 million.
Unanimous consent:
The Las Vegas-based developer used an official Tuesday press release to detail that the arrangement has been unanimously approved by its board of directors alongside a majority of its shareholders and will involve Angel Holdings Godo Kaisha paying $13.75 for every one of its common stocks.
Broad product portfolio:
Established in 2002 via a reverse merger involving industry stalwarts, Bourgogne et Grasset and Paul-Son Gaming Corporation, GPI Corporation has over 750 employees and is responsible for producing the Paulson brand of American-style clay gaming chips as well as their Bud Jones plastic counterparts. The NASDAQ-listed manufacturer also offers an extensive range of playing cards, dice, roulette wheels and radio-frequency identification (RFID) technologies and explained that the purchase arrangement has been agreed via Angel Holdings Godo Kaisha’s local AGL Nevada Corporation subordinate.
Transaction to close in 2019:
GPI Corporation stated that the deal is expected to close sometime next year subject to the receipt of ‘certain approvals from gaming authorities’ although it declared that the agreement contains a ‘go-shop’ provision that gives interested parties until February 2 to make alternative purchase proposals.
Global footprint:
For its part, Angel Holdings Godo Kaisha is also a supplier of casino games, cards and equipment with its portfolio encompassing the Angel Protect range of pre-shuffled cards as well as the Angel Eye series of electronic shoes. The Kyoto-headquartered firm maintains offices in Macau, the Philippines, Australia and the United States while manufacturing its innovations at facilities in Singapore and Japan.
