The gaming field is well-known for its mergers and acquisitions which aim to propel ahead the development of prospering companies and diversify their offerings. PlayAGS recently issued the announcement that it is going to acquire Integrity Gaming Corporation, guaranteeing access to Class II and Class III slot gaming and a foothold in the United States gaming field. February 5 is going to see the meeting of shareholders on discussing and voting the subject.
This Monday was an important one for the agreement which has the potential to elevate players experience in states to the likes of Oklahoma and Texas. The amount PlayAGS will have to pay for the Vancouver-listed company’s acquisition reaches $48 million, but first, the meeting will have to take place at the very first days of February. Individuals which will be present at the said congregation already received their copy of the meeting materials which will be used during the meeting.
Preparationfor the Game-Changing Vote
Among them is the leaflet including management information, as well as other additional materials that will facilitate the process. The meeting will attract holders of common shares, options, and restricted share units, all directly affected by the decision and the agreement between the two gaming companies. It caters to the interest of all three entities involved in it – PlayAGS Canada ULC, PlayAGS, Inc. and Integrity Gaming.
This agreement was initially issued on December 14, 2018, and according to it each and every shareholder will be eligible for $0.46 for every single common share they own. This amount also applies to all unexercised options, as well as restricted share units. Integrity Gaming strives to work in a timely manner and move on with the acquisition process. This became visible at the very beginning of 2019, as January 4 saw the Vancouver-based company announcing the Supreme Court of British Columbia’s interim order.
Essentially, it gives a green light to the meeting on February 5, 2019, as well as other crucial details around the arrangement. Everyone eyes the meeting, as it is a crucial step in the acquisition process and could either propel it ahead or put an end to it. If a nod has been given then, Integrity Gaming would have to acquire a final order by the Supreme Court of British Columbia, solidifying the acquisition. Projections are that by the end of February things would be set in stone.
Impact of the Acquisition
There are several ways in which shareholders could cast their vote in this crucial moment and all of them are encouraged to do so, as it has the potential to tilt the scales in one or another direction. Among the mailed materials there is also a detailed guide on how each individual could cast their vote during the meeting either in person or via another medium.
For those who can be present at the meeting, real-life voting will be the way to exercise their right to vote. Several alternatives will also be available for shareholders who could not physically be present on site. They could use the Computershare online platform where access is gained with the entering of a 15-digit control number printed on the proxy. A traditional phone call could also be of good use, as individuals will be able to dial 1-866-732-8683.
Integrity Gaming has spread across as many as 33 gaming facilities in the two states most of which tribal casinos. Apart from the slot devices, it is able to offer, the company is also an avid supporter of new projects envisioned by the management of the casino venues. More than 2,700 devices are currently in operation, meaning that the Las Vegas-based provider is about the expand significantly its portfolio.
