Amaya Gaming, a leading provider of technology based gaming solutions that delivers market leading solutions and services to the regulated gaming industry, entered into an “Arms length definitive agreement” to acquire Cadillac Jack in a merger transaction entered into on September 25, 2012.
Cadillac Jack serves as a developer and supplier of video reel slots and other products and technologies for the global gaming market with gaming machine placements in over 200 venues in the United States and Mexico.
Amaya has revealed that it will be paying approximately US$ 167.0 million for the acquisition of 100% of Cadillac Jack’s equity and to retire its debt which they will fund through three separate cash payments. The first payment of approximately US$ 147.0 million will be made upon closing of the Acquisition and two additional payments of US$ 10.0 each will be made on the first and second anniversaries of the closing of the Acquisition.
David Baazov, Chief Executive Officer of Amaya said "The acquisition of Cadillac Jack is a pivotal event for Amaya. We expect that the combined companies will leverage their distribution for game content in the key areas of online, mobile and land based casinos. The Acquisition creates immediate scale for Amaya's operations and greatly enhances growth opportunities for both companies.