Brightstar Capital Partners acquires PlayAGS for $1.1 billion, transitioning AGS to a private company post-stockholder approval.
Quiver AI Summary
Brightstar Capital Partners has successfully completed its acquisition of PlayAGS, Inc., a leading global gaming supplier known for its slot and table products, for approximately $1.1 billion, with AGS stockholders receiving $12.50 per share in cash. The acquisition, first announced in May 2024, received approval from AGS stockholders and all necessary regulatory bodies. With AGS's impressive growth, including a doubling of slot unit sales and significant increases in online gaming and table product revenues over the past three years, Brightstar aims to enhance AGS’s market presence and continue its innovation in gaming products. AGS will now operate as a privately held company, transitioning its stock from the New York Stock Exchange. Both companies expressed excitement about the partnership, which is expected to drive further growth and innovation in the gaming industry.
Potential Positives
- The completion of the acquisition marks a significant milestone for AGS, transitioning from a publicly traded company to a privately held entity, which can enable more strategic flexibility and focused decision-making.
- The acquisition comes amid strong growth for AGS, with record revenue performance and significant increases in product sales, indicating a strong foundation and market position for future growth.
- Brightstar, as a strategic partner, aims to support AGS in expanding into new markets and enhancing its product offerings, potentially leading to accelerated growth and innovation.
Potential Negatives
- The acquisition results in AGS being delisted from the NYSE, which may limit the company's visibility and access to capital markets.
- Transitioning to a privately held entity could lead to decreased transparency for stakeholders and investors.
- The valuation of $12.50 per share may indicate a lack of confidence in AGS's future prospects from the market's perspective, despite its recent growth achievements.
FAQ
What recent acquisition did Brightstar Capital Partners announce?
Brightstar announced the acquisition of PlayAGS, Inc., a global gaming supplier, for approximately $1.1 billion.
When was the acquisition of AGS officially closed?
The acquisition of AGS was officially closed on June 30, 2025, following stockholder approval and regulatory clearance.
How much will AGS stockholders receive per share?
AGS stockholders will receive $12.50 per share in cash as part of the acquisition agreement.
What is AGS known for in the gaming industry?
AGS is recognized for its high-performing slot machines, table products, and innovative online gaming solutions in the gaming industry.
What does the partnership with Brightstar aim to achieve for AGS?
The partnership aims to accelerate AGS's growth and enhance its innovation in gaming products and solutions for casino operators.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$AGS Hedge Fund Activity
We have seen 72 institutional investors add shares of $AGS stock to their portfolio, and 68 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- DECAGON ASSET MANAGEMENT LLP removed 1,434,266 shares (-87.3%) from their portfolio in Q1 2025, for an estimated $17,368,961
- BOSTON PARTNERS removed 1,126,656 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $12,990,343
- GARDNER LEWIS ASSET MANAGEMENT L P added 778,624 shares (+inf%) to their portfolio in Q1 2025, for an estimated $9,429,136
- ARROWMARK COLORADO HOLDINGS LLC removed 738,635 shares (-35.0%) from their portfolio in Q1 2025, for an estimated $8,944,869
- GLAZER CAPITAL, LLC added 678,587 shares (+inf%) to their portfolio in Q1 2025, for an estimated $8,217,688
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 417,962 shares (+61.1%) to their portfolio in Q1 2025, for an estimated $5,061,519
- TABOR ASSET MANAGEMENT, LP added 375,219 shares (+inf%) to their portfolio in Q1 2025, for an estimated $4,543,902
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
LAS VEGAS and NEW YORK, June 30, 2025 (GLOBE NEWSWIRE) -- Brightstar Capital Partners (“Brightstar”), a private equity firm focused on investing in business services, industrials, consumer, and government services and technology companies, today announced the closing of its acquisition of PlayAGS, Inc. (NYSE: AGS) (“AGS” or the “Company”), a global full-service gaming supplier of high-performing slot, table, and interactive products. The transaction was first announced on May 9, 2024.
The closing follows approval of the transaction by AGS stockholders and the receipt of all required regulatory approvals. Under the terms of the agreement, AGS stockholders will receive $12.50 per share in cash, valuing the transaction at approximately $1.1 billion. As a result, AGS is now a privately held company, and its common stock will be delisted from the New York Stock Exchange (NYSE).
The acquisition comes amid strong growth momentum for AGS. Over the past three years, the Company has more than doubled its global slot unit sales to over 6,100 units, grown online real-money gaming content revenue by over 150%, and increased Table Products revenue by more than 50%—collectively driving three consecutive years of record revenue performance. Powered by strategic investments in R&D and a deep and diverse suite of high-performing products, AGS has become a comprehensive solutions provider across multiple product categories and has a growing global presence both in land-based and online casinos.
“We’re excited to join forces with Brightstar, a partnership that marks both a pivotal moment and a transformative new chapter in AGS’ growth story,” said David Lopez, CEO & President of AGS. “With Brightstar as a strategic partner, we believe AGS is in an ideal position to accelerate growth and double-down on delivering focused, high-impact innovation across slots, table products, and online gaming. This partnership sharpens our ability to serve casino operators with differentiated content and solutions built to give them a winning edge.”
“We are thrilled to officially welcome David and the AGS team to Brightstar,” said Andrew Weinberg, Founder, CEO & Co-Chair of Brightstar. “We believe that AGS’ full-spectrum product offering and customer-centric culture set it apart in a growing industry. Our goal is to help the Company expand into new markets and continue to use technology to create exciting games and products.”
Macquarie Capital served as financial advisor and Cooley LLP served as legal counsel to AGS. Jefferies LLC served as lead financial advisor to Brightstar. Barclays and Citizens JMP Securities also served as financial advisors to Brightstar. Kirkland & Ellis LLP and Brownstein Hyatt Farber Schreck served as legal counsel to Brightstar.
About AGS
AGS is a global gaming company dedicated to delivering a diverse mix of entertaining gaming experiences for every kind of player. With a full-spectrum product portfolio spanning slot machines, table products, card shufflers, and online gaming, AGS has grown into one of the industry’s most comprehensive gaming suppliers. The Company’s customer-centric culture and “innovation with intent” philosophy fuel continuous development of high-performing products designed to drive customer success and player engagement. AGS’ omnichannel strategy – bridging the land-based casino and digital gaming worlds – positions the Company to serve the evolving needs of its casino operator partners around the world. Learn more at
www.playags.com
.
About Brightstar Capital Partners
Brightstar Capital Partners is a middle market private equity firm with $5bn AUM that is focused on investing in business services, industrials, consumer, and government services and technology companies, where Brightstar believes it can drive significant value with respect to the management, operations, and strategic direction of the business. Since its founding in 2015, Brightstar has accumulated extensive experience partnering with family, founder, or entrepreneur-led businesses. Brightstar employs an operationally intensive “Us & Us” approach that leverages its considerable hands-on operational expertise and deep relationship network to help companies reach their full potential. For more information, please visit
www.brightstarcp.com
.
AGS Contact
Julia Boguslawski, Chief Marketing Officer
[email protected]
Brightstar Contact
Prosek Partners
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4d149144-5cd6-43b5-9318-04863a60cc61
