AGS
AGS Enters Into Definitive Agreement To Be Acquired By Brightstar Capital Partners for Approximately $1.1 Billion
PlayAGS, Incorporated, a global gaming supplier of high-performing slot, table, and interactive products, today announced that it has signed a definitive agreement to be acquired by affiliates of Brightstar Capital Partners (“Brightstar”), a middle market private equity firm focused on investing in industrial, manufacturing, and services businesses.
The Company’s Board of Directors has unanimously approved, and recommended that the Company’s stockholders approve, the agreement. AGS shareholders will receive $12.50 per share in cash. The per share purchase price represents a 41% premium to the Company’s volume-weighted average share price over the last 90 days and a 40% premium to AGS’ closing price on May 8, 2024.
AGS is a global company focused on creating a diverse mix of entertaining gaming experiences for every kind of player. Powered by high-performing slot products, an expansive table products portfolio, and highly rated online casino content, the Company believes it offers an unmatched value proposition for its casino partners.
“We are very pleased to reach this agreement, which we believe provides our stockholders with compelling, certain cash value. Joining forces with Brightstar represents an exciting new chapter for AGS and our mission to provide exceptional gaming solutions for our operator partners,” said David Lopez, CEO & President of AGS. “With Brightstar’s resources and strategic guidance, we believe AGS will be well-positioned to make targeted investments in R&D, top talent, operations, and industry-leading innovation, which should accelerate our global footprint.”
“We look forward to working with David and the AGS team to capitalize on opportunities by taking a long-term approach to creating value,” said Andrew Weinberg, Founder & CEO of Brightstar. “AGS has a strong pipeline of new products, and we believe the Company’s innovative approach to game development provides significant potential for continued growth.”
“We have been impressed by AGS’ award-winning products, differentiated culture, and outstanding reputation in this expanding industry,” said Roger Bulloch, Partner at Brightstar. “We trust that partnering with AGS and executing on our shared vision can accelerate the Company’s ability to create even greater value for its customers and players around the world.”
Macquarie Capital is serving as financial advisor and Cooley LLP is serving as legal counsel to AGS. Jefferies LLC is serving as lead financial advisor to Brightstar. Barclays and Citizens JMP Securities are also serving as financial advisors to Brightstar. Kirkland & Ellis LLP is serving as legal counsel to Brightstar.
First Quarter 2024 Financial Results
In light of the proposed transaction, AGS has canceled its previously announced conference call to discuss its first quarter 2024 financial results, which had been scheduled for Thursday, May 9, 2024, at 5:00 p.m. EDT. Additionally, AGS will not be issuing a quarterly earnings release. The Company expects to file its 10-Q for the quarter ended March 31, 2024 with the SEC later today.
Timing and Approvals
The proposed transaction, which is expected to close in the second half of 2025 is subject to customary closing conditions, including the receipt of regulatory approvals and approval by a majority of AGS stockholders. Upon completion of the transaction, AGS will become a privately held company and shares of AGS common stock will no longer be listed on any public market.
AGS, a leading supplier renowned for delivering high-performing slots, table games, and interactive products and services to the global gaming industry, announced three key appointments that will strengthen AGS’ commercial slot sales strategy, operations and enterprise client development.
John McColl has been appointed Senior Director of Slot Sales Strategy.
Mark Morton will serve as Vice President of Slot Sales Strategy, and Loren Rosenberg has taken on the role as Vice President of Commercial Slot Strategy & Operations.
“These hires represent a significant step forward in building a best-in-class commercial organization,” said Jackosn Floyd, Vice President of Slots at AGS.
“John, Mark, and Loren have each demonstrated an ability to translate strategy into measurable results, and their leadership will help the team sharpen our focus on performance, efficiency, and delivering greater value across our slot portfolio.”
John McColl will lead sales strategy and commercial opportunity, focusing on expanding market share and driving revenue growth, while building a data-driven approach to cover AGS’ total addressable market (TAM) to identify and capture new opportunities.
With a career spanning more than 30 years across casino operations, gaming technology, entrepreneurship, and enterprise B2B sales in the North American gaming industry .
Including roles at Gaming Analytics, Scientific Games / Bally Technologies, and Harrah’s Entertainment – McColl brings extensive experience leading national sales strategy and enterprise client development across commercial and tribal casino operators.
He was working closely as well with operators to optimize slot floor performance and product placement.
Mark Morton brings his three decades of experience across the global gaming industry to his new role of Vice President of Sales Strategy at AGS.
His track record of driving revenue growth, structuring high-value partnerships, and building scalable, performance-driven sales organizations will enhance AGS’ commitment to evolving its commercial model to better align with operator needs and accelerate long-term value creation.
Morton will focus on customer synergy and strategic alignment, streamlining the internal sales process, and expanding enterprise sales opportunities.
Most recently, he served as Senior Vice President at Marker Trax and Koin, where he led commercial strategy, pricing, and enterprise contract execution with leading operators including Boyd Gaming, Golden Entertainment, and Penn National.
Loren Rosenberg will serve as Vice President of Commercial Strategy & Operations at AGS, where he will be focused on maximizing the value of the company’s product portfolio and supporting its continued commercial expansion.
Rosenberg brings nearly 20 years of experience across the gaming industry, spanning product, commercial, and enterprise strategy roles.
His background includes work across land-based, digital, and social gaming, with a focus on bringing teams together, aligning clear priorities, and turning strategy into results.
Before joining AGS, Loren held senior leadership roles at Aristocrat and Everi, where he led global product and development teams while overseeing portfolio strategy through periods of meaningful growth and transformation.
He began his career at WMS, later acquired by Scientific Games, and held a range of roles across operations, strategy, and commercial functions.
For more information, visit newsroom.playags.com.
The post AGS grows slot sales strategy team with the addition of three veteran gaming executives appeared first on Americas iGaming & Sports Betting News.
AGS has appointed three gaming executives to expand its commercial slot sales strategy and operations team. John McColl joins as Senior Director of Slot Sales Strategy, Mark Morton as Vice President of Slot Sales Strategy, and Loren Rosenberg as Vice President of Commercial Slot Strategy & Operations.
“These hires represent a significant step forward in building a best-in-class commercial organization,” said Jackosn Floyd, Vice President of Slots at AGS. “John, Mark, and Loren have each demonstrated an ability to translate strategy into measurable results, and their leadership will help the team sharpen our focus on performance, efficiency, and delivering greater value across our slot portfolio.”
McColl will lead sales strategy and commercial opportunity, with a focus on expanding market share and driving revenue growth. AGS said he will build a data-driven approach to mapping the company’s total addressable market (TAM) to identify new opportunities. McColl has more than 30 years of experience across casino operations, gaming technology, and enterprise B2B sales, including roles at Gaming Analytics, Scientific Games / Bally Technologies, and Harrah’s Entertainment.
Morton will focus on customer synergy and strategic alignment, streamlining internal sales processes, and expanding enterprise sales opportunities, according to the company. He previously served as Senior Vice President at Marker Trax and Koin, where AGS said he led commercial strategy, pricing, and enterprise contract execution with operators including Boyd Gaming, Golden Entertainment, and Penn National.
Rosenberg will oversee commercial strategy and operations, with responsibility for maximizing value across AGS’ product portfolio and supporting commercial expansion. He brings nearly 20 years of experience across product, commercial and enterprise strategy roles, including senior leadership positions at Aristocrat and Everi. Rosenberg began his career at WMS, later acquired by Scientific Games, and has held roles across operations, strategy and commercial functions.
The post AGS hires three executives to expand slot sales strategy team appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
AGS, the global gaming supplier, teamed up with Yaamava’ Resort & Casino at San Manuel in Southern California to host a two-day launch celebration for its newest slot family, Ultra Werewolf
.
The event kicked off on Wednesday, March 4, with special guests Kevin Smith and Jason Mewes, reprising their iconic roles as Jay and Silent Bob from the 90s cult classics Clerks, Mallrats, and Jay and Silent Bob Strike Back. Smith and Mewes were the first to experience the game and shared their impressions during a live recording of their SMPodcast, “Jay & Silent Bob Do Yaamava’.”
The fang-tastic festivities continued the following day with an unveiling celebration attended by Yaamava’ Resort & Casino and AGS representatives, culminating in an exciting slot pull for Club Serrano Members.
Guests were immersed in a comic book–inspired world, featuring a life-sized Werewolf, two werewolf “hunters” from the game, interactive photo opportunities, and custom werewolf-themed slot chair covers. The VIP reception offered themed mocktails, wolf-ear headbands, and free spins on Ultra Werewolf Fury and Ultra Werewolf Strike. Four lucky participants who played the Ultra Werewolf games were entered into a draw for $1,000 in Free Play, with one lucky winner receiving $5,000 in Free Play.
Mark DeDeaux, Senior Vice President and General Manager, Slots at AGS, said:
“Yaamava’ Resort & Casino is the perfect venue to celebrate the dedication and partnership that goes into a world premiere of a slot game. The Ultra Werewolf brand extension builds on the thrilling storyline of the original Werewolf, one of AGS’ most successful premium games. The new franchise takes it further with a unique comic book theme, more bonus features, and all-around excitement. Our collaboration with Yaamava’ and shared focus on delivering innovative, unforgettable player experiences made this the ultimate way to ‘Catch the Wolf.’”
Kenji Hall, General Manager of Yaamava’ Resort & Casino, added:
“Ultra Werewolf represents the kind of creative, high-impact game design that elevates the entire industry. Yaamava’ is dedicated to leading the market in entertainment innovation, and we’re proud to host the launch of AGS’ latest breakthrough.”
The excitement continues, with Ultra Werewolf slot drawings scheduled for March 22, where four Club Serrano players will each win $1,000 in Free Play, and one lucky winner will receive $5,000 in Free Play plus a limited-edition silver Justice League comic collector card.
Ultra Werewolf will be available exclusively at Yaamava’ Resort & Casino for a limited time before expanding to additional casinos nationwide.
The post AGS and Yaamava’ Resort & Casino ‘Wolf Out’ with World Premiere of Ultra Werewolf appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
-
Latest News6 days agoStake releases Zoo casino game: a fast, multiplayer Stake Original where players bet on the wild side
-
Latest News6 days ago
Cloudbet Adds ELA Games to Its Casino Roster in Latest Move to Diversify Content for Global Crypto Players
-
Amusnet7 days ago
Weekend Reels | Week 20: Slot Drops & Trends
-
casino6 days ago
Cloudbet Adds ELA Games to Its Casino Roster in Latest Move to Diversify Content for Global Crypto Players
-
Baltics7 days ago
PopOK Gaming partners with Lithuania’s TOPsport
-
Casino Content7 days ago
Tom Horn Gaming sets 19 May launch for Giza’s Portals slot
-
Games6 days ago
Stake releases Zoo casino game: a fast, multiplayer Stake Original where players bet on the wild side
-
Baltics7 days ago
HIPTHER Celebrates Estonia’s Startup Ecosystem & Tallinn Homecoming with Eestistartup
