Amaya Gaming completes Cadillac Jack deal
Wednesday November 7,2012 : AMAYA CLOSES CADILLAC JACK ACQUISITION (Update)
Another acquisition under the belt
Canadian gaming provider Amaya Gaming Group has completed the outright purchase of gaming machine supplier Cadillac Jack for a consideration of $ 177 Million, financing the transaction through a combination of cash on hand and a $110 Million non-convertible senior secured term loan secured by Cadillac Jack's assets.
"The acquisition of Cadillac Jack is a significant event for Amaya" commented David Baazov, chief executive officer of Amaya. "In combining Amaya's growth in digital gaming with Cadillac Jack's strength in traditional land-based gaming we have extended our capabilities as a fully integrated and dynamic technology provider. We are thrilled by the growth opportunities that we believe this acquisition brings."
The company expects to benefit from an immediate scale in revenue and adjusted EBITDA, added business product leveraging and an acceleration of its penetration in the United States following the transaction.