GGRAsia – Casino currency biz GPI adopts stock repurchase plan

Casino currency biz GPI adopts stock repurchase plan

Apr 03, 2018 Newsdesk Industry Talk, Latest News

Nasdaq-listed casino currency and table gaming equipment supplier Gaming Partners International Corp (GPI) has announced the adoption of a stock repurchase plan that will see “up to 100,000 shares of common stock” being repurchased via the open market.

In a filing, GPI said the repurchase plan is part of a repurchase programme that was adopted in November 2011.

The programme was to enable repurchase “up to 410,000 shares”, the document said. “As of March 28, 2018, there were 215,590 shares of common stock available for repurchase under the repurchase programme,” the announcement added.

“Repurchases will be administered through an independent broker. It is expected that repurchases under the 2018 repurchase plan will commence in April 2018 and will be completed within one year,” the Wednesday filing said.

The firm did not name in the document the independent broker involved.

GPI announced in January a collaboration with BrainChip Holdings Ltd to develop and deploy casino video analytic products. The latter is an Australia-listed developer of software and hardware for advanced artificial intelligence (AI) and machine learning applications.