AGS Begins Initial Public Offering

Sat, Jan 20, 2018

Gaming supplier AGS announced the beginning of an initial public offering of 10.25 million shares of its common stock, at an initial price estimated at between $16 and $18. CEO David Lopez (l.) has transformed the company to a powerful supplier.

AGS Begins Initial Public Offering

PlayAGS, Inc., also known as gaming supplier AGS—a leading designer and supplier of electronic gaming machines and other products and services for the gaming industry—announced the commencement of its initial public offering of 10,250,000 shares of its common stock.

AGS has been working toward the goal of an IPO since David Lopez took over as CEO in late 2013. Lopez transformed the company from what was mainly a supplier of Class II slots into a full-service supplier of slots, table games and interactive social casino products.

In addition to the initial 10.25 million shares, AGS has granted the underwriters a 30-day option to purchase up to an additional 1,537,500 shares of its common stock. The price range for the initial public offering is currently estimated to be between $16 and $18 per share.

The company has applied to list its shares of common stock on the New York Stock Exchange under the ticker symbol AGS.

Credit Suisse, Deutsche Bank Securities, Jefferies and Macquarie Capital are acting as joint book-running managers and as representatives of the underwriters for the proposed offering. BofA Merrill Lynch, Citigroup, Nomura, Stifel and SunTrust Robinson Humphrey are acting as joint book-running managers for the proposed offering. Roth Capital Partners, Union Gaming, The Williams Capital Group, L.P. and Apollo Global Securities are acting as co-managers for the proposed offering.

The offering will be made only by means of a prospectus. A copy of the preliminary prospectus relating to this offering, when available, may be obtained from any of the following sources:

  • Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, or by telephone at (800) 221-1037 or by email at newyork.prospectus@credit-suisse.com;
  • Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005, or by telephone at (800) 503-4611, or by email at prospectus.CPDG@db.com;
  • Jefferies LLC, Attention: Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877) 821-7388 or by email at Prospectus_Department@Jefferies.com; or,

• Macquarie Capital (USA) Inc., Attention: Syndicate Department, 125 West 55th Street, L-22, New York, NY 10019, or by telephone at (212) 231-0440 or by email at MacquarieEquitySyndicateUSA@macquarie.com.