Brightstar Capital Partners, a private equity firm focused on investing in business services, industrials, consumer, and government services and technology companies, has acquired PlayAGS, a global full-service gaming supplier of high-performing slot, table, and interactive products.
The transaction was first announced on 9 May 2024.
The closing follows approval of the transaction by AGS stockholders and the receipt of all required regulatory approvals.
Under the terms of the agreement, AGS stockholders will receive $12.50 per share in cash, valuing the transaction at approximately $1.1bn. As a result, AGS is now a privately held company, and its common stock will be delisted from the New York Stock Exchange.
Over the past three years, AGS has more than doubled its global slot unit sales to over 6,100 units, grown online real-money gaming content revenue by over 150%, and increased Table Products revenue by more than 50% – collectively driving three consecutive years of record revenue performance.
Powered by strategic investments in R&D and a deep and diverse suite of high-performing products, AGS has become a comprehensive solutions provider across multiple product categories and has a growing global presence both in land-based and online casinos.
Macquarie Capital served as financial advisor and Cooley served as legal counsel to AGS. Jefferies served as lead financial advisor to Brightstar. Barclays and Citizens JMP Securities also served as financial advisors to Brightstar. Kirkland & Ellis and Brownstein Hyatt Farber Schreck served as legal counsel to Brightstar.
