Brightstar Capital Partners a private equity firm focused on investing in business services, industrials, consumer, and government services and technology companies, today announced the closing of its acquisition of PlayAGS.

The closing follows approval of the transaction by AGS stockholders and the receipt of all required regulatory approvals. Under the terms of the agreement, AGS stockholders will receive $12.50 per share in cash, valuing the transaction at approximately $1.1 billion. As a result, AGS is now a privately held company, and its common stock will be delisted from the New York Stock Exchange (NYSE).

The acquisition comes amid strong growth momentum for AGS. Over the past three years, the Company has more than doubled its global slot unit sales to over 6,100 units, grown online real-money gaming content revenue by over 150%, and increased Table Products revenue by more than 50%—collectively driving three consecutive years of record revenue performance. Powered by strategic investments in R&D and a deep and diverse suite of high-performing products, AGS has become a comprehensive solutions provider across multiple product categories and has a growing global presence both in land-based and online casinos.

“We’re excited to join forces with Brightstar, a partnership that marks both a pivotal moment and a transformative new chapter in AGS’ growth story,” said David Lopez, CEO & President of AGS. “With Brightstar as a strategic partner, we believe AGS is in an ideal position to accelerate growth and double-down on delivering focused, high-impact innovation across slots, table products, and online gaming. This partnership sharpens our ability to serve casino operators with differentiated content and solutions built to give them a winning edge.”

“We are thrilled to officially welcome David and the AGS team to Brightstar,” said Andrew Weinberg, Founder, CEO & Co-Chair of Brightstar. “We believe that AGS’ full-spectrum product offering and customer-centric culture set it apart in a growing industry. Our goal is to help the Company expand into new markets and continue to use technology to create exciting games and products.”