LAS VEGAS, July 1, 2014 /PRNewswire/ -- Gaming Partners
International Corporation (NASDAQ: GPIC), a leading provider of
casino currency and table game products worldwide, announced today
that it has completed its acquisition of substantially all of the
assets of GemGroup Inc. and Subsidiaries. The transaction was
consummated with a combination of cash and bank financing for a
total of $19.75 million.
"We are pleased to announce the successful completion of our
acquisition of GemGroup and its well-known Gemaco-branded gaming
products," commented Gregory Gronau,
GPIC's President and Chief Executive Officer. "In addition to
adding their playing card and table layout products to our domestic
product portfolio and increasing our US market share for both
segments of recurring revenue, this acquisition expands our
manufacturing capabilities in North
America while adding recurring layout sales and related
services to our Asia Pacific
offerings. This combination of products, talent and expertise gives
GPIC a greater ability to support our global customers' ongoing
table game product needs while expanding our customer support
network with Gemaco's experienced staff. During the
forthcoming integration, we will continue to provide the highest
quality products and services to all GPI and Gemaco customers."
About Gaming Partners International Corporation
(GPIC)
GPIC manufactures and supplies casino table game
equipment to licensed casinos worldwide. Under the brand names of
Paulson®,Bourgogne et Grasset®, Bud Jones® and Gemaco®, GPIC
provides casino currency such as chips, plaques and jetons; gaming
furniture and table accessories; table layouts; playing cards;
dice; and roulette wheels. GPIC pioneered the use of security
features such as radio frequency identification device (RFID)
technology in casino currency and provides RFID solutions
including RFID readers, software and displays. Headquartered in
Las Vegas, Nevada, GPIC also has
manufacturing facilities, warehouses and/or sales offices in
Beaune, France; San Luis Rio Colorado, Mexico; Blue Springs, Missouri, Atlantic City, New Jersey, Gulfport, Mississippi and Macau S.A.R.,
China. For additional information,
please visit http://www.gpigaming.com.
Safe Harbor Statement
This release contains "forward-looking statements" based on
current expectations that are inherently subject to known and
unknown risks and uncertainties, including (i) the plan, objectives
and expectations regarding GPIC's acquisition of the gaming assets
of the acquired company, (i) the integration of the acquired
company's business, and (iii) the expected financial performance of
GPIC following completion of such acquisition. Actual results or
achievements may be materially different from those expressed or
implied. Our plans and objectives are based on assumptions
involving judgments with respect to future economic, competitive
and market conditions, the timing of and ability to consummate
acquisitions, and future business decisions and other risks and
uncertainties identified in Part I-Item 1A, "Risk Factors" of our
Annual Report on Form 10-K for the period ended December 31, 2013, all of which are difficult or
impossible to predict accurately and many of which are beyond our
control and are subject to change. Therefore, there can be no
assurance that any forward-looking statement will prove to be
accurate.
For Further
Information Contact:
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Michael D. Mann,
Chief Financial Officer, Treasurer and Secretary
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PH:
702.384.2425
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FX:
702.384.1965
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SOURCE Gaming Partners International Corporation