US – AGS completes move into slot route operating with Integrity purchaseBy Phil - 11 February 2019
PlayAGS has completed the purchase of Integrity Gaming, increasing AGS’ recurring revenue footprint by more than 2,700 Class III and Class II games in Oklahoma and Texas, including slot machines manufactured by various slot suppliers in approximately 30 tribal casinos.
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.”
Under the terms of the deal, AGS 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 US$49m, which includes repaying US$35m of Integrity’s outstanding debt. The acquisition was funded with cash on the balance sheet.
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.