GGRAsia – Nevada okays PokerTek acquisition by Multimedia Games

Nevada okays PokerTek acquisition by Multimedia Games

Sep 29, 2014 Newsdesk Industry Talk, Latest News

Nasdaq-listed PokerTek Inc announced that the Nevada Gaming Commission has approved the application by Multimedia Games Holding Co Inc to acquire the company.

PokerTek in April said that it had entered into a definitive agreement and plan of merger with Multimedia Games. The latter agreed to acquire PokerTek at a price of US$1.35 per share in cash, for a total consideration of US$13 million.

The Nevada commission’s approval was the final regulatory step required to consummate the merger, PokerTek said in a statement on Friday. The two companies anticipate the merger will be completed on October 1.

U.S.-based PokerTek designs, manufactures and markets electronic table games, including the PokerPro product (pictured), an automated poker table.

Multimedia Games is a creator and supplier of systems, content and electronic gaming units for Native American and commercial casinos. The firm also supplies the central determinant system for the video lottery terminals installed at racetracks in the state of New York.

Multimedia Games is meanwhile being acquired by Las Vegas-based Global Cash Access Holdings Inc for US$1.2 billion in cash.