Shareholders of Gaming Partners International Corporation have approved a previously announced merger agreement under which Japanese playing card giant Angel Holdings will acquire the Las Vegas-based table game equipment supplier for US$110 million.
In a filing last week, GPI said that 85.5 percent of the company’s common shares were represented in person at a special meeting of shareholders, with 6,909,294 share votes for the merger and just 31,865 against.
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 ship and table-game suppliers Paulson Gaming and Bud Jones, along with U.S. card supplier Gemaco.
