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Report: AGS Preparing for IPO

Report: AGS Preparing for IPO

Slot and table-game supplier AGS has confidentially filed a draft registration statement on Form S-1 to the United States Securities and Exchange Commission, relating to a potential initial public offering of its common stock, according to a report last month.

The number of shares to be offered and the price range for the offering have not been determined. The initial public offering is expected to commence sometime after the SEC completes its review process, subject to market and other conditions. AGS intends to list its common stock under the ticker symbol “AGS.”

A registration statement on Form S-1 relating to the proposed offering has been filed with the SEC but has not yet become effective.

AGS, formerly American Gaming Systems, entered the market several years ago as a niche slot manufacturer. Since the arrival of CEO David Lopez, the company has expanded its slot line with the acquisition of Georgia-based Cadillac Jack, and has created a new table-game division that has rapidly grown through the acquisition and organic development of several hit proprietary table games and side bets.

Gamblit Launches Skill Games in California

Harrah’s Resort Southern California announced it will be the first casino in California to offer skill games and gaming tables from Gamblit Gaming, a leading producer of real-money and skill-based games for land-based casinos.

Harrah’s has launched its first two Gamblit games, Gamblit Poker and Cannonbeard’s Treasure, and the operator says it will add more Gamblit Games as they are approved.

“Gamblit’s games and tables are evolutionary steps in the right direction for the modern gaming industry, and we are honored to be the first casino in California to offer the experience,” said Harrah’s Resort Southern California Senior Vice President and General Manager Darrell Pilant.

Gamblit Poker is an electronic table game set up for four players to play heads-up hold-‘em poker. Players build hands by grabbing cards from the center of the table, and can up the ante by stealing cards from opponents in order to prevent them from completing their hands.

Cannonbeard’s Treasure is a modern take on blackjack, pitting players and their pirate ships against one another. The game is focused on the community cards in the center of the table which allow players to build their hands and reach their objectives, with the first player to reach the goal winning the pot of gold.