A company called PlayAGS Inc is seeking to raise as much as US$184.5 million via an initial public offering (IPO) on the New York Stock Exchange. The firm is a Las Vegas-, U.S.-based designer and supplier of electronic gaming machines and other products and services for the gaming industry.
A Tuesday press release said the offer involved 10.25-million shares of common stock at an estimated price of US$16.00 to US$18.00 per share.
The offer initiators have also granted the underwriters a 30-day option to purchase up to an additional 1,537,500 shares of common stock, according to the release.
Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc, Jefferies LLC and Macquarie Capital (USA) Inc are acting as joint bookrunning managers and as representatives of the underwriters for the proposed offering.
The currently privately-held PlayAGS has previously focused on supplying so-called Class II electronic gaming machines to the Native American gaming market.
The firm recently expanded its product line-up to include: Class III electronic gaming machines for commercial and Native American casinos; video bingo machines for select international markets; table game products; and interactive social casino content.
The company’s product range includes Orion-branded cabinets, providing games including the Chinese-themed “Fu Nan Fu Nu”.
PlayAGS – until December known as AGS – signed in September a patent cross-licensing agreement casino and lottery equipment maker International Game Technology Plc (IGT). Under the agreement, PlayAGS can offer games including patented features from the IGT portfolio.
Feb 21, 2018Macau casino operator MGM China Holdings Ltd saw fourth-quarter revenue increase 10.5 percent year-on-year to HKD4.28 billion (US$547.4 million), the firm said in a statement to the Hong Kong Stock...
Dec 29, 2017It could be 2024 before a casino resort is opened in Japan,...
Dec 27, 2017The year 2017 could prove to have been a turning point in...
Oct 25, 2017The deployment of radio frequency identification (RFID)...
”Everybody would like to have clarity about the [Macau gaming licence refreshment] policy”
Ambrose So Shu Fai
Chief executive of casino operator SJM Holdings