Nasdaq-listed Entertainment Gaming Asia is set to become a privately-held company.
On Wednesday, EGT Nevada Holding Inc, a subsidiary of Melco International Development Ltd said it had completed the previously announced tender offer for all of the issued and outstanding shares of common stock of Entertainment Gaming Asia Inc.
According to a filing from EGT Nevada, a total of 4,005,135 shares, representing 92.5 percent of the outstanding shares were tendered into the offer.
EGT Nevada says it intends to effect a “short-form” merger, in which EGT Nevada will be merged with Entertainment Gaming, and Entertainment Gaming will continue as the surviving corporation and a wholly owned indirect subsidiary of Melco International.
Entertainment Gaming Asia Inc. is a gaming company focused on the growing gaming markets of Asia.
The gaming supplier however exited its gaming operations in Cambodia in 2016, selling all of its EGM seats at NagaWorld Casino.
In August 2016, the company also said it was looking to develop an online social casino platform to offset its short-term revenue losses.