• 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
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

GPI to merge with Japan’s Angel Holdings for US$110mln

Nov 28, 2018 Newsdesk Industry Talk, Latest News, Top of the deck, World  


GPI to merge with Japan’s Angel Holdings for US$110mln

Gaming Partners International Corp (GPI), a United States-listed supplier of casino currency and equipment, has announced that a Japanese firm, Angel Holdings GK, will buy all its stock for cash.

GPI will then merge with a United States subsidiary of the suitor firm. GPI told the U.S. Securities and Exchange Commission on Tuesday that it had agreed to merge with an entity called AGL Nevada Corp. Angel Holdings owns 100 percent of AGL Nevada.

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.

The deal will see Angel Holdings pay US$13.75 for each share in a cash-only transaction. There are 7.96 million outstanding shares in GPI, which implies that the deal is worth about US$109.5 million. The merged entity will retain the GPI brand identity.

GPI informed the SEC that the merger must be approved by the holders of the majority of its stock, as well as relevant gaming authorities. The deal also depends on GPI turning over gaming licences it holds, to Angel Holdings, GPI said.

Earlier this month, GPI reported net profit of US$1.5 million on revenue of US$22.9 million for the third quarter of this year, having made a net profit of US$2.2 million a year earlier on revenue of US$24.6 million. The company said the decline in revenue was due largely to lower sales in the Asia-Pacific region.

GPI’s third-quarter sales were about US$7.3 million, compared to almost US$11.6 million in the same period last year. “The decrease in revenues was primarily attributable to decreases in casino currency sales and gaming furniture sales partially offset by increases in all other product lines,” the Nasdaq-listed company said.


  • tweet
Related articles
  • Kangwon Land in S.Korea spending US$4mln on new chips
    Kangwon Land in S.Korea spending...

    Jul 07, 2023  

  • Quality fake chips sold online found at Macau casino
    Quality fake chips sold online found at...

    Jan 13, 2021  

More news
  • Any Macau clamp on money changing may hurt GGR: pundits
    Any Macau clamp on money changing may...

    Sep 25, 2023  

  • 26 Capital to delist, liquidate as Okada Manila merger fails
    26 Capital to delist, liquidate as...

    Sep 25, 2023  


Latest News

Any Macau clamp on money changing may hurt GGR: pundits

Any Macau clamp on money changing may hurt GGR: pundits

Sep 25, 2023  

Criminalisation of unlicensed money exchange in Macau is a complex topic and would need careful handling to respect the Chinese authorities’ wish to control cross-border currency flow, while...
Read More
26 Capital to delist, liquidate as Okada Manila merger fails

26 Capital to delist, liquidate as Okada Manila merger

Sep 25, 2023  

Japan govt nods MGM-Orix, Osaka govt deal for IR scheme

Japan govt nods MGM-Orix, Osaka govt deal for IR scheme

Sep 25, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

"We [estimate] that these illegal [currency exchange] transactions account for somewhere between 50 percent to 60 percent [of Macau's annual gross gaming revenue]”

Ben Lee

Managing partner at IGamiX Management and Consulting



Most Popular

  • Any Macau clamp on money changing may hurt GGR: punditsAny Macau clamp on money changing may hurt GGR: pundits September 25, 2023
  • Strong Macau hotel bookings for autumn Golden WeekStrong Macau hotel bookings for autumn Golden Week September 22, 2023
  • Big players, tourists due for Golden Week say Macau expertsBig players, tourists due for Golden Week say Macau experts September 22, 2023
  • Londoner Macao’s Harry Potter exhibition to open Dec 15Londoner Macao’s Harry Potter exhibition to… September 22, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us