Gaming Partners International Corp. Acquires GemGroup Inc.
Gemaco Inc., a Blue Springs, Missouri-based supplier of card decks, games and gaming accessories, has sold its assets to a provider of casino currency and table game products.
Gaming Partners International Corp. (GPIC), Las Vegas, announced its acquisition of all of the assets of Gemaco's parent company, GemGroup, earlier this month. The transaction was paid with 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 [its] 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. During the forthcoming integration, we will continue to provide the highest quality products and services to all GPIC and Gemaco customers."