Gaming Partners International plans to purchase Hong Kong-based Dophin Products, a subsidiary of Entertainment Gaming, the companies have announced.
Las Vegas-based GPI manufactures casino table game equipment, including chips and plaques under various brands, for casinos worldwide. Dolphin makes and distributes RFID and traditional gaming chips and plaques under the Dolphin brand to major Asian and Australian casinos.
Under the terms of the deal, GPI will acquire the assets of Dolphin, including fixed assets, raw materials and inventory and intellectual property, for a cash purchase price of about $5.9m. The deal is subject to physical inventory counts at closing.
The asset sale represents Dolphin’s and Entertainment Gaming’s exit from the table game equipment business and, as part of the transaction, Dolphin and EG will each agree not to engage in the manufacture of table game equipment to compete with GPI.
The purchase price will be paid out in installments over a 24-month period after closing. Both companies anticipated closing the transaction in May.
