AGS acquisition by Brightstar reaches significant phase
The company’s stockholders recently voted to approve the acquisition deal with affiliates of Brightstar.
Key Points
- The waiting period produced under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 officially expired on December 9
- The expiration of the waiting period satisfies an important condition necessary for the completion of the proposed transaction
PlayAGS and Brightstar Capital partners have announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, satisfying an important condition necessary for Brightstar to complete its acquisition of AGS.
The transaction is expected to close in the second half of 2025, subject to other conditions and regulatory approvals.
“The transaction is expected to close in the second half of 2025 and is subject to customary closing conditions, including the receipt of regulatory approvals,” AGS said in the terms of the agreement.
“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.”
Good to know: AGS announced that it will be launching four new product categories in its slot division in 2024 during the Global Gaming Expo (G2E) in Las Vegas
AGS stockholders recently voted to approve the acquisition deal with affiliates of Brightstar during a stockholders’ meeting in August 2024.
The company’s product portfolio extends over slot and table options as well as casino content, which will now be at the disposal of Brightstar for a reported $1.1bn return.
The deal was announced in May 2024, with AGS President and CEO David Lopez commenting at the time that the new transaction will “provide stockholders with compelling, certain cash value.”
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