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Table Games Deal Shuffles Into Place

Shuffle Master Finalises Progressive Gaming Agreement

Friday 28th September 2007

Progressive Gaming International (PGIC), the leading international supplier of integrated casino and jackpot management system solutions, has announced that it has secured a definite agreement for the sale of its table games division to Shuffle Master, after weeks of setbacks.

The deal will see Shuffle Master acquire the assets of the worldwide Table Game Division including the worldwide rights and lease contracts for all of Progressive’s table game titles such as Caribbean Stud and Texas Hold’em Bonus.

Under the conditions of the agreement, PGIC will receive upfront payments of roughly $22.8 million, $19.8 million of which will be paid upon deal’s conclusion with a further $3 million paid as an advance on revenues that should be generated when both PGIC’s system and Shuffle Master’s table games are integrated.

The agreement is expected to complete within the next few days, according to Shuffle Master.

 


Source: OnlineCasinoNews