Galaxy Gaming, a Las Vegas-based table game supplier best known for its electronic progressive side bet products, announced that it will acquire rival British table supplier Prime Table Games for million.
Prime Table Games is headed by Derek Webb, the inventor of Three Card Poker and many other successful specialty table games. The acquisition will give Galaxy rights to distribute Three Card Poker in the U.K. (Shuffle Master bought the rights to the game elsewhere), as well as control of more than 20 specialty table game titles.
Galaxy Gaming distributes dozens of specialty table games and side-bet products to casinos worldwide. The acquisition will position the company as the top provider of table games in the United Kingdom and further expand its presence in the Caribbean. The deal will nearly double Galaxy’s recurring revenue.
“Our strategic focus is on building recurring revenues,” Galaxy Gaming CEO Robert Saucier said in a statement. “This acquisition is 100 percent accretive and is exactly on target with that mission.”
Webb, long considered one of the industry’s most creative inventors, is a shareholder of publicly traded Galaxy.
“I have witnessed their commitment to increasing their distribution network,” Webb said. “I believe they will be able to fully leverage these assets to their fullest extent.”
The announcement followed the news that Galaxy Gaming agreed to acquire the table game assets of Lakes Gaming. That deal will give Galaxy four additional table game titles.
The acquisitions are subject to regulatory approvals.