American Class II and Class III game supplier, AGS have begun the process with the United States Securities and Exchange Commission that could result in a public offering of common stock.
Industry readers will recall that AGS scooped up Cadillac Jack from Amaya in a $382 million deal two years ago after the Canadian company took CJ out of play in 2001 in a US$167.0 million acquisition of 100% of the company.
Earlier, AGS entered the felt supply market when they acquired Colossal, giving them greater exposure on Class III casino floors.
AGS is a financial vehicle operating under funds managed by affiliates of Apollo Global Management, LLC (NYSE: APO) and as such should be considered a potential long-term contender for those who study management and balance sheets.
AGS is based in Las Vegas and operates over 10,000 gaming stations worldwide including the U.S., Mexico, and Brazil.
The company’s initial draft registration statement on Form S-1 did not disclose the number of shares to be offered in the IPO nor the potential value of each. Further information should be forthcoming after the SEC completes its initial review. As stated, AGS will be listed on the market as AGS.
In addition the table gaming and mobile social gaming made possible by the AGS acquisition of RocketPlay (Lucky Play Casino) the company’s market strategy has placed them, so far, as the number two world provider of Class II gaming.