NEW YORK, May 23, 2017 (GLOBE NEWSWIRE) -- EGT Nevada Holding Inc. (“EGT Nevada”) announced today that it and Melco International Development Limited (“Melco International”) have amended the previously announced tender offer (the “Offer”) for all of the issued and outstanding shares of common stock (the “Shares”) of Entertainment Gaming Asia Inc. (“Entertainment Gaming”) (NASDAQ:EGT) that are not currently owned by Melco International and its affiliates such that the consummation of the Offer is no longer conditioned upon any minimum number of Shares being tendered. EGT Nevada will provide liquidity to any stockholder of Entertainment Gaming that would like to sell his, her or its Shares in the Offer. As a result, EGT Nevada may consummate the Offer even if the Shares tendered represent (x) less than a majority of the issued and outstanding Shares excluding Shares owned by Melco International or its affiliates, and (y) less than 90% of outstanding Shares when combined with the Shares owned by Melco International and its affiliates. If we consummate the Offer notwithstanding the fact that the Shares tendered represent less than 90% of outstanding Shares when combined with the Shares owned by Melco International and its affiliates, we will be unable to cause a short-form merger to be effectuated and may continue to operate Entertainment Gaming as a standalone company with Melco International and its affiliates continuing to own a controlling stake in Entertainment Gaming.
Information About Forward-Looking Statements
This document contains certain forward-looking statements, including statements that involve risks and uncertainties concerning the proposed acquisition of Shares of Entertainment Gaming, anticipated customer benefits and general business outlook. When used in this document, the words “anticipates”, “can”, “will”, “look forward to”, “expected” and similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements. Any such statement may be influenced by a variety of factors, many of which are beyond the control of EGT Nevada, that could cause actual outcomes and results to be materially different from those projected, described, expressed or implied in this document due to a number of risks and uncertainties. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of EGT Nevada or Entertainment Gaming. You are cautioned to not place undue reliance on forward-looking statements, which speak only as of the date of this document. Neither EGT Nevada nor any other person is under any duty to update any of the information in this document.
This communication does not constitute an offer to buy or solicitation of an offer to sell any securities. This communication is for informational purposes only. The Offer is not being made to, nor will tenders be accepted from, or on behalf of, holders of shares in any jurisdiction in which the making of the Offer or the acceptance thereof would not comply with the laws of that jurisdiction. The Offer is being made pursuant to a combined Tender Offer Statement and Rule 13e-3 Transaction Statement filed under cover of Schedule TO, as amended (including the Offer to Purchase, a related Letter of Transmittal and other offer materials) filed by EGT Nevada and Melco International with the SEC.
The Offer does not involve nor relate to Melco Resorts & Entertainment Limited, Melco International’s major gaming subsidiary.
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Source: Melco International Development Limited