Las Vegas, NV – May 11, 2024 – PlayAGS, Inc. (NYSE: AGS), a leading designer and supplier of electronic gaming machines and other gaming products, announced today that it has entered into a definitive agreement to be acquired by Brightstar Capital Partners, a private equity firm focused on partnering with exceptional management teams.
Under the terms of the agreement, Brightstar Capital Partners will acquire all outstanding shares of PlayAGS for $1.1 billion in cash. The transaction represents a significant premium to PlayAGS' shareholders, providing immediate and certain value.
David Lopez, President, and Chief Executive Officer of PlayAGS, expressed enthusiasm about the acquisition, stating, "We are excited to partner with Brightstar Capital Partners as we continue to execute on our strategic initiatives and drive growth for our business. This transaction provides substantial value to our shareholders and positions PlayAGS for continued success in the future."
Andrew Weinberg, Founder and Chief Executive Officer of Brightstar Capital Partners, commented, "We are thrilled to invest in PlayAGS, a leading provider of gaming solutions with a strong track record of innovation and growth. We believe that PlayAGS is well-positioned to capitalize on the expanding opportunities in the gaming industry, and we look forward to working closely with the management team to support the company's continued development and expansion."
The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close in the second half of 2024. Upon completion of the transaction, PlayAGS will become a privately held company.
PlayAGS was advised by Morgan Stanley & Co. LLC as financial advisor and Latham & Watkins LLP as legal advisor. Brightstar Capital Partners was advised by UBS Investment Bank as financial advisor and Kirkland & Ellis LLP as legal advisor.
This acquisition represents a significant opportunity for investors engaged in merger arbitrage and M&A arbitrage strategies, with potential for value creation through the integration of PlayAGS' expertise and Brightstar Capital Partners' strategic vaision.
About PlayAGS, Inc.
PlayAGS, Inc. is a leading designer and supplier of electronic gaming machines and other gaming products. The company's mission is to deliver entertaining experiences through its high-quality products, innovative technology, and exceptional customer service. PlayAGS is headquartered in Las Vegas, Nevada, with offices and operations across the United States and internationally.
About Brightstar Capital Partners
Brightstar Capital Partners is a private equity firm focused on partnering with exceptional management teams to help businesses reach their full potential. The firm invests in closely held middle-market companies across a range of industries, including business services, industrials, and consumer. Brightstar Capital Partners is headquartered in New York City, New York.
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Mar 03, 2020: The global Japanese Whisky market size is expected to reach USD 1.1 billion by 2025, according to a new report by Grand View Research, Inc., registering a 9.4% CAGR over the forecast period.
Rising popularity of home bars and interest in mixology are also driving the consumption of Japanese whiskey in the residential sector.
This segment is likely to register a CAGR of 9.2% over the forecast period, while the commercial application of Japanese whisky is expected to exhibit a 9.4% CAGR.To Request A Sample Copy Of This Report @: https://www.radiantinsights.com/research/japanese-whisky-market/request-sampleOn-trade distribution channels held the largest revenue share in 2018 owing to rising per capita income of consumers, adoption of luxury lifestyle, and consumption of premium spirits in countries including U.S., U.K., Germany, India, and China.
Rising trend of Happy Hours offered by various commercial restaurants, pubs, hotels, and breweries serving alcohol is boosting the footfall of consumers in such retail sectors.
This can be attributed to presence of the largest production facility in Japan and high product penetration in the regionThe industry is highly competitive in nature with key players including Suntory Holdings Ltd., Nikka Whisky Distilling Co., Ltd., Chichibu Distillery, Venture Whisky, Ltd., FLAVIAR, Louisville Distilling Co. LLC, Asahi Breweries Ltd., Jf Hillebrand Japan Kk, Hombo Shuzo Co Ltd, and Yoshino Spirits.To Browse Full Research Report @: https://www.radiantinsights.com/research/japanese-whisky-marketTable of ContentsChapter 1.
Consistent cash inflows help businesses take care of their day-to-day operations.
The loan can be used for different purposes, including paying the storage area rent, buying raw materials, paying staff wages, etc., and has a tenure of up to 12 months.
The collateral to be submitted can be in the form of raw materials, stock-in-trade, fixed assets, equipment, finished goods, etc.
In addition, cash credit allows a company to withdraw money as many times but up to its withdrawal limit.An attractive feature of a cash credit loan is that the interest rate is charged only on the amount withdrawn, not on the whole borrowed limit.
Company A takes a cash credit loan to cover its expenses while waiting for its finished goods inventory to turn into cash.Spotlight Features of Working Capital loan:Cash credit is granted against collateral or security.It is given to meet the daily working requirements of a business.It can be repaid in the form of monthly, quarterly, or half-yearly repayments.Individual applicants can avail cash credit against their fixed deposits and save on interest.Interest rate pay off on cash credit loan is tax-deductibleMoney can be withdrawn any number of times from the sanctioned limit.
Moreover, the bank has the right to recall the funds at any moment, and the borrower is expected to repay them immediately.
