Monday brought more comings and goings in the world of gaming in the week before Christmas, with the announcement that Integrity Gaming Corp. (TSX-Venture:IGAM) forged an agreement with a wholly-owned subsidiary of PlayAGS Inc.
The Vancouver-based Integrity says it will sell all of its issued and outstanding common shares to PlayAGS for 46 cents per Integrity Share, resulting in an aggregate transaction value of $65 million, including approximately $48 million in Integrity debt.
The transaction is expected to close in the first half of 2019, subject to approval by Integrity's shareholders, receipt of applicable regulatory, court and third party approvals and other customary closing conditions.
Integrity's Interim CEO Robert Miodunski said, "We strongly believe this is a good transaction for our Company and our shareholders, and that our customers will benefit from AGS's deep roots in Oklahoma and its proven ability to successfully manage a large footprint of leased games to drive strong performance for gaming operators."
The stock shook on Monday markets, approaching noon, climbing eight cents, or 22.9%, to 43 cents, on volume of 694,000.
