Gaming Partners International Corporation has delivered a written communication to NASDAQ stating that it intends to consummate its merger with Japanese playing card supplier Angel Holdings Godo Kaisha on May 1, subject to satisfaction or waiver of all closing conditions.
GPI shareholders approved the merger deal, under which Angel Holdings will acquire the Las Vegas-based table game equipment supplier for US$110 million. Completion of the deal will see Angel acquire 100 percent of GPI, with shareholders to be paid US$13.75 per share.
Angel is one of the world’s leading suppliers of playing cards and holds a significant majority of market share in Macau. GPI is the result of several mergers in the table-game market, as French table currency supplier Bourgogne et Grasset acquired U.S. gaming chip and table-game suppliers Paulson Gaming and Bud Jones, along with U.S. playing card supplier Gemaco.
