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AGS Enters Into Definitive Agreement To Be Acquired By Brightstar Capital Partners for Approximately $1.1 Billion

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AGS Enters Into Definitive Agreement To Be Acquired By Brightstar Capital Partners

 

PlayAGS, Incorporated, a global gaming supplier of high-performing slot, table, and interactive products, today announced that it has signed a definitive agreement to be acquired by affiliates of Brightstar Capital Partners (“Brightstar”), a middle market private equity firm focused on investing in industrial, manufacturing, and services businesses.

The Company’s Board of Directors has unanimously approved, and recommended that the Company’s stockholders approve, the agreement. AGS shareholders will receive $12.50 per share in cash. The per share purchase price represents a 41% premium to the Company’s volume-weighted average share price over the last 90 days and a 40% premium to AGS’ closing price on May 8, 2024.

AGS is a global company focused on creating a diverse mix of entertaining gaming experiences for every kind of player. Powered by high-performing slot products, an expansive table products portfolio, and highly rated online casino content, the Company believes it offers an unmatched value proposition for its casino partners.

“We are very pleased to reach this agreement, which we believe provides our stockholders with compelling, certain cash value. Joining forces with Brightstar represents an exciting new chapter for AGS and our mission to provide exceptional gaming solutions for our operator partners,” said David Lopez, CEO & President of AGS. “With Brightstar’s resources and strategic guidance, we believe AGS will be well-positioned to make targeted investments in R&D, top talent, operations, and industry-leading innovation, which should accelerate our global footprint.”

“We look forward to working with David and the AGS team to capitalize on opportunities by taking a long-term approach to creating value,” said Andrew Weinberg, Founder & CEO of Brightstar. “AGS has a strong pipeline of new products, and we believe the Company’s innovative approach to game development provides significant potential for continued growth.”

“We have been impressed by AGS’ award-winning products, differentiated culture, and outstanding reputation in this expanding industry,” said Roger Bulloch, Partner at Brightstar. “We trust that partnering with AGS and executing on our shared vision can accelerate the Company’s ability to create even greater value for its customers and players around the world.”

Macquarie Capital is serving as financial advisor and Cooley LLP is serving as legal counsel to AGS. Jefferies LLC is serving as lead financial advisor to Brightstar. Barclays and Citizens JMP Securities are also serving as financial advisors to Brightstar. Kirkland & Ellis LLP is serving as legal counsel to Brightstar.

First Quarter 2024 Financial Results

In light of the proposed transaction, AGS has canceled its previously announced conference call to discuss its first quarter 2024 financial results, which had been scheduled for Thursday, May 9, 2024, at 5:00 p.m. EDT. Additionally, AGS will not be issuing a quarterly earnings release. The Company expects to file its 10-Q for the quarter ended March 31, 2024 with the SEC later today.

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Timing and Approvals

The proposed transaction, which is expected to close in the second half of 2025 is subject to customary closing conditions, including the receipt of regulatory approvals and approval by a majority of AGS stockholders. Upon completion of the transaction, AGS will become a privately held company and shares of AGS common stock will no longer be listed on any public market.

Compliance Updates

Intralot informs the investment community about the withdrawal of the Maryland contract award Augu

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Intralot S.A. informs the investment community that the Maryland State Lottery and Gaming Control Agency (USA), despite an initially favorable recommendation, has ultimately rejected the bid submitted by its subsidiary, Intralot, Inc., for the award of a contract for a new Central Lottery Monitoring and Control System in the State. The rejection was based on the alleged failure to meet the minimum required percentage of subcontracting to local subcontractors.

This decision comes as a great surprise, especially considering that Intralot, Inc. had allocated a significantly higher percentage of the project to local subcontractors than the minimum required.

Moreover, the company had provided the Commission with very detailed clarifications, and the Commission was fully aware of the identity and role of these subcontractors. In fact, the Commission innitially ruled that all participants in the bidding process complied with the requirements of the relevant RFP — something the Commission itself acknowledges.

The Company reserves all its legal rights and intends to pursue every legal remedy available to protect the interests of its shareholders. The bid submitted by Intralot, Inc. is technically sound and by far the most financially advantageous, significantly outperforming the second-best offer. Should it not be accepted, the State of Maryland stands to lose a substantial financial benefit.

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Andres Troelsen has been appointed EGT Digital’s Regional Sales Director iGaming for LATAM

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Andres Troelsen has been appointed EGT Digital's Regional Sales Director iGaming for LATAM

 

EGT Digital is pleased to announce that Andres Troelsen has joined the company’s team. Effective from 01 August, he takes on the position of Regional Sales Director iGaming for the LATAM region.

Mr. Troelsen holds a degree in Business Administration and Management from the prestigious Universidad de Palermo in Buenos Aires. He brings business experience with a strong focus on the gaming sector, most recently serving as Commercial Director LATAM at Belatra. Earlier in his career, he held leadership roles across diverse sectors, including winemaking, shipbuilding, legal services, media, and entertainment. Throughout his career, he has consistently delivered strong results, significantly enhancing company performance and helping position those organizations among the leaders in their respective industries.

“I am happy that EGT Digital is giving me this opportunity,” said Mr. Troelsen. “It will be a challenge for me to further increase the brand’s presence in a highly competitive region such as Latin America. I believe that I will successfully cope with the task thanks to my extensive experience in the gaming industry and deep relationships with key operators throughout the local markets. Adding to this the fact that the company’s innovative developments already have an excellent reputation as high-quality solutions able to satisfy the tastes of every type of player, I am confident that we will very quickly position EGT Digital as a top-tier player in LATAM.

Nadia Popova, Chief Revenue Officer and Vice President Sales & Marketing at EGT, also expressed her positive expectations regarding the appointment: “Latin America holds enormous potential for our products, which makes it a region of strategic importance for EGT Digital. Andres Troelsen is the ideal choice, with the skills and leadership needed to achieve our ambitious goals.”

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ACR POKER INJECTS DAILY DOSE OF THRILL INTO TOURNAMENT SCHEDULE WITH LAUNCH OF DAILY MYSTERY BOUNTY EVENTS

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Monster top bounty of 10% of the total prize pool up for grabs starting this weekend

ACR Poker today announced the addition of Daily Mystery Bounty events to its tournament lineup starting this Sunday, August 3rd, delivering unmatched entertainment, thrilling action, and big wins to the tables.

Daily Mystery Bounty tournaments turn traditional bounty formats on their head. Once players are in the money, instead of receiving a fixed reward for eliminating an opponent, players receive a Mystery Bounty Chest revealing a mystery reward, with the top bounty prize being 10% of the total prize pool.

“Mystery Bounties are just pure fun,” said ACR Pro Chris Moneymaker. “You never know what you’re going to get when you knock someone out, it could be some random treasure or a monster bounty that flips your whole tournament. With same-day events, fast action and bounty madness on your daily calendar, it keeps the adrenaline going and makes every hand way more exciting.”

The Daily Mystery Bounty schedule features a range of tourneys and buy-ins, with highlights including the $250K GTD Sunday Funday ($215 buy-in), the $150K GTD Major Mash Up ($66 buy-in), and the $100K GTD Moorman’s Mayhem ($630 buy-in). Starting this Sunday, players can log into the ACR Poker client, open the Tournaments tab, and find the full lineup of Daily Mystery Bounty events in the regular schedule under upcoming events.

And don’t forget, the Mystery Bounty madness continues in ACR Poker’s massive Dual Venom tournaments taking place from Sunday, August 10th to Tuesday, August 26th. Not only are the $2,650 buy-in tourneys offering huge guarantees of $8 million in the NHL event and $2 million in the PLO event, but there are massive bounties on the table for those who knock out their competitors.

In the Venom NLH, eliminating just one opponent could earn a player the top bounty prize of $500,000. While in the Venom PLO, which ties ACR Poker’s biggest Omaha tourney ever, there’s a juicy $200,000 bounty for the taking. And that’s not all, every knockout in both tourneys earns players a minimum bounty of at least $5,000.

For full details about the Daily Mystery Bounty tournaments or to find out more about the Dual Mystery Bounty Venoms, visit ACRPoker.eu.

 

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