Gaming Partners International Corporation Acquires OMC Plastic Injection Molding Assets as Part of Its Ongoing Product Growth and Diversification Strategy
LAS VEGAS, April 7, 2011 /PRNewswire/ -- Gaming Partners International Corporation (NASDAQ: GPIC) ("GPI" or the "Company") announced today that its French subsidiary Gaming Partners International SAS has completed the purchase of certain assets of OMC Sarl and its subsidiary OMC Industries (OMC), a private French-based manufacturer of high-quality plastic injection molds. This transaction, although financially immaterial, is part of the Company's previously announced acquisition strategy to use its strong cash position to acquire companies, products or technologies that enable it to diversify and grow its product and service offerings.
By giving the Company the ability to manufacture the high-precision molds required to make gaming chips, this acquisition provides GPI with greater control over its entire chip manufacturing process while maintaining the highest internal standards of gaming currency manufacturing security. Additionally, the purchase enhances the Company's existing delivery timelines and provides GPI's worldwide casino customers with a greater range of custom chip design solutions. Finally, the acquisition enables the Company to broaden its manufacturing capabilities into other industries by enabling GPI to support and grow OMC's existing mold design and manufacturing business.
"We are excited to purchase OMC's mold manufacturing capabilities, as their reputation for producing high-quality, secure products for a wide range of industries is unmatched," commented Gregory Gronau, GPI's President and Chief Executive Officer. "GPI has worked directly with OMC for over 20 years, and having direct access to the equipment necessary to produce high-precision molds will enhance our existing chip production process."
Gronau continued: "Finally, this transaction is an important next step in the diversification of our internal product development and manufacturing capabilities. When combined with our recent acquisition and licensing agreement related to RFID patents and technologies, we are extending our direct control over the production of our core currency products."
Madame Fabienne Pialat, OMC Managing Director, remarked: "On behalf of OMC Sarl and OMC Industries, we are pleased to complete this transaction with Gaming Partners International Corporation. Our long-standing relationship with them makes it a mutually-beneficial, logical purchase, and we are confident in their ability to continue to support our existing injection mold customer base."
GPI manufactures and supplies casino table games and equipment to licensed casinos worldwide. Under the brand names of Paulson®, Bourgogne et Grasset® and Bud Jones®, GPI provides casino currency such as chips, plaques and jetons; gaming furniture and accessories; table layouts; playing cards; dice; and roulette wheels. GPI pioneered the use of security features such as RFID technology in casino chips and provides RFID solutions including chips, readers and displays. Headquartered in Las Vegas, Nevada, GPI also has offices Beaune, France; San Luis Rio Colorado, Mexico; Atlantic City, New Jersey, Gulfport, Mississippi, and Macau, China. For additional information, please visit http://www.gpigaming.com.
Safe Harbor Statement
This release contains "forward-looking statements" based on current expectations but involving known and unknown risks and uncertainties, such as statements relating to anticipated future sales or the timing thereof; the long-term growth and prospects of our business or any jurisdiction; the duration or effects of unfavorable economic conditions which may reduce our product sales; and the long term potential of the RFID gaming chips market and the ability of Gaming Partners International to capitalize on any such growth opportunities. Actual results or achievements may be materially different from those expressed or implied. Gaming Partners International's plans and objectives are based on assumptions involving judgments with respect to future economic, competitive and market conditions, the timing and its ability to consummate, acquisitions, and future business decisions and other risks and uncertainties identified in Part I-Item 1A, "Risk Factors" of the Company's Form 10-K for the period ended December 31, 2010, all of which are difficult or impossible to predict accurately and many of which are beyond its control. Therefore, there can be no assurance that any forward-looking statement will prove to be accurate.
FOR FURTHER INFORMATION CONTACT:
Gregory Gronau, Chief Executive Officer and President
Gerald Koslow, Chief Financial Officer
PH: +1 702 384 2425
FX: +1 702 384 1965
SOURCE Gaming Partners International Corporation