NEW YORK: Private equity firm Brightstar Capital Partners has completed its acquisition of PlayAGS, Inc. (NYSE: AGS), a global gaming supplier, in a deal valued at approximately $1.1 billion, company said on Monday.
The transaction, first announced May 9, was finalized after receiving approval from AGS stockholders and necessary regulatory clearances. AGS shareholders will receive $12.50 per share in cash, and the company will be delisted from the New York Stock Exchange.
AGS, known for its slot machines, table games and interactive gaming products, has seen strong growth in recent years. Over the past three years, the company more than doubled its global slot unit sales to over 6,100 units, increased online gaming revenue by 150% and grew table product revenue by 50%, driving record revenue.
“We’re excited to join forces with Brightstar, marking a transformative chapter in AGS’ growth story,” said David Lopez, CEO of AGS. “This partnership positions us to accelerate innovation across slots, table games and online gaming.”
Andrew Weinberg, founder and CEO of Brightstar, said AGS’ diverse product lineup and customer-focused approach set it apart in a growing industry. “Our goal is to help AGS expand into new markets and leverage technology to create compelling gaming experiences,” he said.
Macquarie Capital advised AGS, while Jefferies led financial advisory for Brightstar. Barclays and Citizens JMP Securities also advised Brightstar. Legal counsel included Cooley LLP for AGS and Kirkland & Ellis LLP and Brownstein Hyatt Farber Schreck for Brightstar.
AGS is a global gaming company offering slot machines, table products and online gaming content. The company focuses on innovation to drive customer success and player engagement. More at www.playags.com.
Brightstar is a middle-market private equity firm with $5 billion in assets under management, specializing in business services, industrials, consumer and government technology sectors. Since 2015, it has partnered with founder-led businesses to drive operational growth.
