Last month, Play Synergy struck a deal to acquire certain assets of Aruze for an undisclosed amount.
The United States Bankruptcy Court has now approved the purchase with the transaction set to close by September 2023.
Play Synergy will take ownership of Aruze’s land-based game library, lease and participation machines and business assets including intellectual property. The deal also covers related sales, services and marketing operations.
According to Play Synergy, it will continue providing products under the Aruze brand.
In addition, Play Synergy further announced the pending acquisition of overseas operations for Aruze Gaming.
Nevada licence for Play Synergy
In other news, Play Synergy has been granted approval to launch its offering in Nevada.
The Nevada Gaming Commission issued the business with manufacturer and distributor gaming licenses. This will enable it to begin working with operators and partners in the US state.
“These two accomplishments propel us to an exciting new level in this competitive space,” Play Synergy president Frank Feng said. “A Nevada gaming licence is a key and indispensable component of any supplier’s ability to establish a leadership position in our industry.
“The combination of both companies’ teams, platforms, and other resources will ensure that we have the ability to develop and deliver superior content well into the future.”
All change at Aruze
The sale approval marks the latest announcement in what has been a year of upheaval for Aruze.
In February, the business filed for bankruptcy in Nevada. At the time, Aruze’s global CEO Yugo Kinoshita said the move was a “critical business strategy” and was “no reflection on the health of Aruze”.
Instead, he said it related to “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. He was indicted on grave coercion after allegedly leading an “illegal and violent invasion” of Okada Manila.
Last month, Aruze confirmed plans to close its Las Vegas headquarters. This was according to a notice to the Nevada Department of Employment, Training and Rehabilitation.
This means 100 members of staff will lose their jobs this month.
Aruze sells table games assets to Interblock
Interblock, meanwhile, will acquire Aruze’s electronic table games (ETG) assets for an undisclosed sum.
Announced in the wake of the Play Synergy slot deal, the supplier adds a range of new content, not to mention more than 700 employees, to its offering.
Original article: https://igamingbusiness.com/strategy/ma/play-synergy-complete-aruze/
