• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

GPI-Angel merger to be concluded on May 1: GPI

Apr 22, 2019 Newsdesk Industry Talk, Latest News, Top of the deck  


GPI-Angel merger to be concluded on May 1: GPI

United States-listed supplier of casino currency and equipment Gaming Partners International Corp (GPI) says the company’s merger with Japanese firm Angel Holdings GK, a specialist in the manufacture of casino playing cards, should take place on May 1.

“GPI has delivered a written communication to Nasdaq stating that it intends to consummate its merger with Angel Holdings GK on May 1, 2019, subject to satisfaction or waiver of all closing conditions,” GPI stated in a press release issued on Friday.

GPI had said in March the merger with Angel Holdings was schedule to take place “before December 1.”

The stockholders of GPI formally approved in March the merger with Angel Holdings. GPI had announced in November that Angel Holdings would buy all of GPI’s stock for a cash consideration of nearly US$110.7 million.

Angel Holdings makes and supplies playing cards and card games for gaming and for the retail market. The company’s headquarters is in Kyoto, with branch offices in Macau, the U.S., Australia and the Philippines.

Under the terms of the merger agreement with Angel Holdings, stockholders of GPI will receive US$13.75 per share in cash in exchange for their stocks. Upon the closing of the transaction, Angel Holdings will own 100 percent of GPI.

“Because GPI will become a wholly-owned subsidiary of Angel Holdings after the closing, Angel Holdings and GPI have agreed to take certain steps to delist GPI’s common stock from Nasdaq and to withdraw such shares from the reporting obligations under the [U.S.] Exchange Act,” GPI stated in Friday’s filing.

GPI said in its latest annual report – issued in March – it posted net income of US$3.7 million for full calendar year 2018, compared to a profit of US$3.6 million a year earlier.


  • tweet
Related articles
  • IGT 3Q revenue up 54pct sequentially, narrows net loss
    IGT 3Q revenue up 54pct sequentially,...

    Nov 12, 2020  

  • Scientific Games, lenders agree on credit facility amendment
    Scientific Games, lenders agree...

    Oct 09, 2020  

More news
  • Cotai expansion to aid Macau EBITDA to 2019 level: CICC
    Cotai expansion to aid Macau EBITDA to...

    Jan 26, 2021  

  • Nüwa CoD Macau reopening delayed beyond Feb 8
    Nüwa CoD Macau reopening delayed...

    Jan 26, 2021  


Latest News

Cotai expansion to aid Macau EBITDA to 2019 level: CICC

Cotai expansion to aid Macau EBITDA to 2019 level: CICC

Jan 26, 2021  

Macau casino-sector earnings before interest, taxation, depreciation and amortisation (EBITDA) could return to 2019 levels “as soon as” the fourth quarter of this year, “partly helped by...
Read More
Nüwa CoD Macau reopening delayed beyond Feb 8

Nüwa CoD Macau reopening delayed beyond Feb 8

Jan 26, 2021  

Crane affirms 1Q dividend, reports 4Q 2020 profit

Crane affirms 1Q dividend, reports 4Q 2020 profit

Jan 26, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

"The travel impediments [in mainland China] will lead to reduced visitation into Macau for the next few weeks at least, with Chinese New Year visitation being impacted"

Vitaly Umansky, Tianjiao Yu and Kelsey Zhu

Analysts at Sanford C. Bernstein Ltd



Most Popular

  • Sands China sixth Macau op to pledge staff extra paymentSands China sixth Macau op to pledge staff extra payment January 21, 2021
  • Londoner Macao first phase launch Feb 8 says Sands ChinaLondoner Macao first phase launch Feb 8 says Sands China January 21, 2021
  • Macau Covid-19 case no bar to mainland travel tiesMacau Covid-19 case no bar to mainland travel ties January 22, 2021
  • Digital yuan eventually for Macau mass bets mulls BernsteinDigital yuan eventually for Macau mass bets mulls Bernstein January 22, 2021
  • Yokohama announces RFP timeline for casino bidYokohama announces RFP timeline for casino bid January 22, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us