Scientific Games Corp. (Nasdaq: SGMS) has agreed to purchase Tech Art Inc., a card holder supplier for the gaming and casino industry. The buyer intends to expand its table game portfolio with the purchase of Tech Art.
Tech Art, based in Las Vegas, has supplied card readers to blackjack card dealers, players and casino managements companies since 1989. Blackjack is a game commonly referred to as 21, in which a card dealer and players collect cards in order to reach 21 points without going over the limit. Tech Art’s MaxTime Performance product is used to help increase game speed and improve the security of blackjack games by not exposing the value of the dealer’s card prematurely. Financial terms of the deal were not disclosed.
Scientific Games, led by chairman and billionaire investor Ronald Perelman, develops technology-related products for the gaming, lottery and interactive gaming sectors. The deal for Tech Art introduces two new games, Super Fun 21 and Bet the Bust, to the buyer’s portfolio of table games. The Las Vegas-based company has previously made other acquisitions in order to broaden its services across the entertainment industry. Among them, in 2014, it purchased Bally Technologies Inc., a manufacturer of lottery-game and shuffling machines, for $3.3 billion.
In other middle-market casino and gaming deals: Eldorado Resorts Inc. (Nasdaq: ERI) merged with MTR Gaming Group Inc.; Penn National Gaming Inc.'s (Nasdaq: PENN) purchase of Tropicana Las Vegas Casino Hotel Resort for $360 million; and Elray Resources Inc. investing in the online casino Golden Galaxy.