Brightstar closes on $1.1bn acquisition of PlayAGS
The closing follows official approval of the transaction by AGS stockholders and the receipt of all required regulatory approvals.
Key Points
- AGS stockholders will receive $12.50 per share in cash while the company is set to become a privately held organization and delisted from the NYSE
- The transaction was first announced on May 9, 2024, and reportedly comes during “strong growth momentum” for the gaming supplier
Brightstar Capital Partners has officially closed on its acquisition of American Gaming Systems (AGS), or PlayAGS, for $1.1bn, with the gaming supplier set to become a privately held company and delisted from the New York Stock Exchange (NYSE).
“We’re excited to join forces with Brightstar, a partnership that marks both a pivotal moment and a transformative new chapter in AGS’ growth story,” AGS President & CEO David Lopez said.
“With Brightstar as a strategic partner, we believe AGS is in an ideal position to accelerate growth and double-down on delivering focused, high-impact innovation across slots, table products and online gaming. This partnership sharpens our ability to serve casino operators with differentiated content and solutions built to give them a winning edge.”
The official closing follows approval of the transaction by AGS stockholders and the completion of all required regulatory approvals, as company shareholders will receive $12.50 per share in cash under the terms of the agreement.
Good to know: AGS Interactive expanded its operations to the state of Connecticut on June 4, representing the supplier’s sixth regulated US market entry with titles such as Capital Gains, Blazing Luck and Dragon Fa
“We are thrilled to officially welcome David and the AGS team to Brightstar,” Brightstar Founder, CEO & Co-Chair Andrew Weinberg said.
“We believe that AGS’ full-spectrum product offering and customer-centric culture set it apart in a growing industry. Our goal is to help the Company expand into new markets and continue to use technology to create exciting games and products.”
The transaction was first announced on May 9, 2024, and comes during “strong growth momentum” for the gaming supplier, which has reportedly sold over 6,100 units over the past three years.
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