MATTHEWS, N.C., Sept. 26, 2014 /PRNewswire/ -- PokerTek, Inc.
(Nasdaq: PTEK) ("PokerTek") today announced that the Nevada Gaming
Commission (the "Nevada
Commission") has approved the application of Multimedia Games
Holding Company, Inc. (Nasdaq: MGAM) to acquire PokerTek. The
Nevada Commission also approved
Multimedia Games, Inc. ("Multimedia Games"), a subsidiary of
Multimedia Games Holding Company, Inc., as PokerTek's sole
shareholder following the completion of the merger.
PokerTek previously announced that it had entered into a
definitive agreement and plan of merger with Multimedia Games,
pursuant to which Multimedia Games had agreed to acquire PokerTek
at a price of $1.35 per share in
cash. Under the agreement, completion of the transaction was
subject, among other things, to the approval by holders of
PokerTek's common shares, the receipt of approvals from the
Nevada Commission, and other
customary closing conditions. PokerTek's shareholders approved the
merger at a special meeting held on July 24,
2014. The Nevada
Commission's approvals were the final regulatory approvals required
to consummate the merger. PokerTek and Multimedia Games anticipate
the merger will be consummated on or about October 1, 2014, subject to the satisfaction of
the remaining customary closing conditions.
The statements contained in this press release that are not
purely historical are forward-looking statements within the meaning
of Section 21E of the Securities Exchange Act of 1934, including,
without limitation, statements regarding the expected benefits and
closing of the proposed merger transaction and PokerTek's
expectations, beliefs and intentions. All forward-looking
statements included in this press release are based on information
available to PokerTek on the date hereof. No assurance can be given
that any of the events anticipated by the forward-looking
statements will transpire or occur, or if any of them do so, what
impact they will have on PokerTek's results of operations or
financial condition. Accordingly, actual results may differ
materially and adversely from those expressed in any
forward-looking statements. There are various important factors
that could cause actual results to differ materially from those in
any such forward-looking statements, many of which are beyond
PokerTek's control. These statements are subject to risks,
uncertainties, and other factors, including, among others: the
occurrence of any event, change or other circumstance that could
give rise to the termination of the merger agreement; the inability
to complete the merger due to the failure to satisfy conditions
required for the consummation of the merger; and other risks as are
mentioned in reports filed by PokerTek with the Securities and
Exchange Commission from time to time, including PokerTek's most
recent periodic reports on Form 10-K and Form 10-Q.
For further information contact:
Mark Roberson, CEO
PokerTek, Inc.
704.849.0860, x101
investorrelations@pokertek.com
SOURCE PokerTek, Inc.