Global Cash Access Buys Multimedia Games For $1.2 Billion
Global Cash Access Holdings Inc., a Las Vegas-based provider of cash services to casinos, said it will buy slot machine maker Multimedia Games Holding Co. Inc. for about $1.2 billion, as the consolidation of the gaming supply industry continues.
The offer price of $36.50 per share represents a premium of 31 percent to Multimedia’s Friday closing. If approved by regulators, the deal will allow Global Cash Access to expand its presence on casino floors.
The company provides cash-access options to gamblers with services such as automated teller machines, money-transfer and jackpot kiosks.
Global Cash Access processes more than $50 million in transactions, according to the company’s website. The company said it will finance the deal with debt and cash on hand, and the companies expect to close the deal early next year.
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