Online social casino provider plans IPO

Las Vegas-based online social casino and electronic games provider PlayAGS has filed plans for a $174 million IPO, according a report on the publication SeekingAlpha this week.

Founded in 2005, the company has grown into a significant B2B and B2C provider with 550 employees focussed mainly on the North American market but with activity in Australia, Israel and Mexico.

In late 2013, 97 percent of the company was acquired by private equity firm Apollo Management, which appointed experienced manager David Lopez as CEO the following year.

Lopez was previously president of Global Cash Access (2012-2014) and COO of Shuffle Master (1998-2011.)

Details in the filing regarding the company’s social casino offering reveal that the product attracts over 38,000 active daily users and has achieved almost 4 million mobile app installs.

Related and similar