Las Vegas-based electronic games machine, gaming table and interactive solutions company PlayAGS will acquire all issued and outstanding common shares of Integrity Gaming Corp, according to a press release issued today. The agreement will see AGS pay US$0.36 per share for Integrity, for a total transaction value of $49mn. The payment includes the settling of $36mn of Integrity’s outstanding debt.
"We strongly believe this is a good transaction for our company”, said Integrity Interim Chief Executive Officer Robert Miodunski. “We look forward to working closely with the AGS team to ensure a smooth transition and continuity of service and support for our customers. I am proud of the Integrity team and the success we have achieved over our more than 20 years."
Integrity owns over 2,700 slot machines manufactured by various slot suppliers, including AGS, in approximately 30 tribal casinos in Oklahoma and Texas and also offers direct sales of other gaming products and supplies.The acquisition is expected to be completed in the first half of 2019.
AGS Senior Vice President of Slot Products Andrew Burke said, "The Integrity team has built a strong business, with an installed base of more than 2,700 Class III and Class II games in Oklahoma and Texas, partnering with some of the largest tribal gaming operators in the United States.
We are excited to invest further in a market we are so passionate about and where we already have strong sales and customer support networks. We look forward to working in partnership with the Integrity team to provide Integrity's customers with an exceptional service and support experience and a continued focus on driving optimal game performance."