Summary by Futu AI
PlayAGS announced on December 9, 2024, that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act for its proposed merger with Bingo Holdings I, LLC, an affiliate of Brightstar Capital Partners, has expired. This marks a significant milestone in the $850 million acquisition deal announced on May 8, 2024.The merger agreement involves Bingo Merger Sub, Inc., a wholly-owned subsidiary of Bingo Holdings I, merging with PlayAGS. Upon completion, PlayAGS will become a wholly-owned subsidiary of the Brightstar affiliate. The transaction is expected to close in the second half of 2025, subject to other regulatory approvals and conditions.PlayAGS cautioned that forward-looking statements about the merger's timing and effects are subject to risks and uncertainties. These include potential delays, failure to meet closing conditions, termination of the agreement, and legal proceedings. The company advised referring to its SEC filings for detailed risk factors and does not intend to update these statements unless required by law.