AGS Senior Vice President of Slot Products Andrew Burke said: “We are thrilled to have so quickly closed this deal and are ready to provide Integrity’s customers with exceptional service and support.”
“Every Integrity customer is also an AGS customer, so this should be a relatively seamless transition and one that gives us an opportunity to work with operators to ensure they are getting the best performance from their Integrity-placed games,” Burke added.
Under the terms of the deal, AGS acquired all issued and outstanding common shares of Integrity Gaming Corp. for a cash payment of US$0.46 per share, reflecting a total transaction value of US$49 million, which includes repaying US$35 million of Integrity’s outstanding debt. The acquisition was funded with cash on the balance sheet.
Integrity’s installed base of more than 2,700 Class III and Class II games in Oklahoma and Texas includes slot machines manufactured by various slot suppliers, including AGS, in approximately 30 tribal casinos.
Now that the transaction has closed, Integrity’s brand, operations, and team will be integrated under AGS, with centralized service and support managed from AGS’ Oklahoma City, Oklahoma offices.