Leading table game supplier Gaming Partners International Corporation announced that its board of directors has unanimously authorized a program to repurchase shares of the company’s common stock. The board approved the repurchase of up to 5 percent, or approximately 410,000 shares, of the company’s outstanding common stock.
These repurchases will be made from time to time in open market or in privately negotiated transactions. The timing and amount of share repurchases will be determined by the company’s management based on its evaluation of market conditions, the trading price of the stock, applicable legal requirements and other factors, subject to periodic approval of the board.
The program does not obligate GPI to acquire any particular amount of common stock or to acquire shares within any particular timetable, and the program may be suspended at any time at the company’s discretion.