Las Vegas-based table game supplier Gaming Partners International Corporation indicated in its latest annual report that its merger deal with Japan-based playing card supplier Angel Holdings will be complete by the end of the year.
“Although all requisite conditions to consummating the merger are not in our direct control, we anticipate the merger will be effectuated before December 1,” GPI stated in its 2018 annual report, filed last week.
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.
