Shareholders of Gaming Partners International Corp (GPI) have approved a previously proposed merger agreement that will see Japanese playing card giant Angel Holdings acquire the US-based table game equipment supplier for US$110 million.
In a Thursday filing, GPI said that 85.5% of the company’s common shares were represented in person at a Special Meeting of shareholders, with 6,909,294 share votes for the merger and just 31,865 against.
Completion of the deal will see Angel acquire 100% of GPI, with shareholders to be paid US$13.75 per share.
Angel is one of the world’s leading suppliers of playing cards and holds a significant majority of market share in Macau.
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