Public company Gaming Partners International Corporation (NASDAQ: GPIC) announced that it has completed its acquisition of substantially all of the assets of GemGroup Inc., the parent company of industry supplier Gemaco (asi/56080). The transaction, which was finalized earlier this month, was completed with a combination of cash and bank financing totaling $19.75 million.
"We are pleased to announce the successful completion of our acquisition of GemGroup and its well-known Gemaco-branded gaming products," said Gregory Gronau, GPIC's president and CEO. "In addition to adding their playing card and table layout products to our domestic product portfolio and increasing our U.S. market share for both segments of recurring revenue, this acquisition expands our manufacturing capabilities in North America while adding recurring layout sales and related services to our Asia Pacific offerings. This combination of products, talent, and expertise gives GPIC a greater ability to support our global customers' ongoing table game product needs while expanding our customer support network with Gemaco's experienced staff.”
Gemaco said it expects that its promotional products operations and staff won’t be impacted by this deal, and that the company will continue to produce orders and products from its facility in Blue Springs, MO. GPIC manufactures and supplies table game equipment to licensed casinos worldwide. In addition to its headquarters in Las Vegas, the company has six manufacturing facilities and offices around the globe, including in France, Mexico, and China.
Gemaco, founded in 1965, is a maker of custom playing cards in the ad specialty market.