Commissioners voted 3-0 in favor of the order with Commissioner Philip Pro abstaining. Pro and Commissioner Randolph Townsend did not attend the meeting.
“There’s nothing here that regulatory matters should hold back, so I’m happy to see this go forward,” said Commission Chairman Tony Alamo.
“I like the proposition that the company has skin in the game in Nevada,” Commissioner John Moran added.
Approvals were made quickly so that AGS could start a scheduled investor road trip beginning last Friday.
When listed, shares would be traded under the AGS ticker symbol on the New York Stock Exchange. The company is expected to price the initial public offering and estimate proceeds by the end of January.
AGS will use proceeds from the offering to pay down debt and deleverage the company.
Licensed in Nevada since 2014, AGS plans to compete in the development of machines traditionally used in Las Vegas casinos. The company has been a dominant player in Class II gaming devices used in tribal casinos.
Source: GMB / Review Journal
