The company takes charge of Aruze’s land-based and online slots operations, alongside the related sales and support services attached through the deal.
Play Synergy already has its own slots offerings, along with table games and technology products.
It is “confident” the deal will close within the next 30 days, depending on regulatory and court approvals.
“The addition of these assets and associated personnel will significantly enhance Play Synergy’s presence in the gaming industry,” the supplier explained.
The Empire Technological Group-owned company is being advised by Innovation Capital LLC in relation to the acquisition.
Legal woes
This is just the latest business update in a year of upheaval for Aruze.
In February, Aruze filed for bankruptcy in the state of Nevada. At the time, Yugo Kinoshita, Aruze’s global CEO said the move was a “critical business strategy” and said it had “no reflection on the health of Aruze”.
Instead, he said, it had to do with “a recent garnishment judgment against Aruze resulting from a separate judgment against Aruze’s shareholder”.
Aruze’s shareholder Kazuo Okada, former executive at Wynn Resorts and co-founder of Universal Entertainment, is currently embroiled in his own legal troubles. Okada was indicted on grave coercion after allegedly leading an “illegal and violent invasion” of the Okada Manila integrated resort complex.
Just days ago, Aruze confirmed plans to close its Las Vegas headquarters, according to a notice to the Nevada Department of Employment, Training and Rehabilitation.
This means 100 members of staff will lose their jobs in August.
Reemployment efforts
Whether more people faced unemployment before the Play Synergy deal is unclear. The acquirer said it aimed to offer the majority of staff new roles.
“Aruze, Play Synergy, and all other stakeholders in the process have worked exceptionally well together to provide the vast majority of Aruze team members with new employment opportunities,” said Frank Feng, president of Play Synergy.
“This along with interest from others in the industry has had the result of minimising the disruption to those impacted and their families.”
Original article: https://igamingbusiness.com/strategy/ma/play-synergy-to-acquire-aruzes-slot-operations/
