Gaming Partners International Corp (GPI), a provider of casino currency and table game products, announced it has completed the acquisition of GemGroup Inc and subsidiaries. The company is paying US$19.75 million for GemGroup, through a combination of cash and bank financing, GPI said in a statement on Tuesday.
“We are pleased to announce the successful completion of our acquisition of GemGroup and its well-known Gemaco-branded gaming products,” Gregory Gronau, GPI’s chief executive, said in the statement.
Gemaco Inc, based in Missouri, in the United States, is a manufacturer of playing cards, casino chips and table layouts. The company also provides casino equipment to some Macau operators.
The acquisition is expected to help boost GPI’s market share in the playing cards and table layouts segments and expand product offerings in the Asia Pacific region.
“In addition to adding their playing card and table layout products to our domestic product portfolio and increasing our U.S. market share for both segments of recurring revenue, this acquisition expands our manufacturing capabilities in North America while adding recurring layout sales and related services to our Asia Pacific offerings,” Mr Gronau said.
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”We expect Goa to quickly become a US$1 billion market as it transitions to land-based casinos (from US$150 million today), which is still just a fraction of India’s total GGR potential of US$10 billion to US$17 billion”
Analyst at Union Gaming Securities Asia