GGRAsia – GPI sells old Las Vegas headquarters for US$3.95 mln

GPI sells old Las Vegas headquarters for US$3.95 mln

Jan 08, 2016 Newsdesk Latest News, Top of the deck, World

Gaming Partners International Corp (GPI) – a supplier of casino currency and table gaming equipment – has sold the building and land that housed its old headquarters in Las Vegas, Nevada, in the United States, for US$3.95 million in cash.

The company “is in the process of relocating its operations” to a site in North Las Vegas, it said in a filing on Wednesday to Nasdaq in New York.

It added it had a seven-year lease on its new address, which covers 15,000 square feet (1,394 sq metres), more than four times smaller than the 64,700-sq-ft building GPI sold.

The former address housed the company’s corporate headquarters and its Las Vegas sales offices, as well as a warehouse and part of the company’s product design services department.

The deal for its disposal was done via a subsidiary called Gaming Partners International USA Inc, with a buyer called Essex Scot LLC.

GPI has offices in the U.S., Europe and Asia, including Macau-based GPI Asia Ltd. The latter distributes GPI’s casino currencies, playing cards and table gaming accessories in the Asia Pacific region.

In November GPI said it had outstanding orders worth US$13.5-million signed by customers as of the end of September – including US$7.2-million-worth from GPI Asia.