The deal was sealled for approximately USD 5.9M. In addition, earn-out payments may be made based on revenue from certain casinos. Dolphin was a leading manufacturer and distributor of RFID and traditional gaming chips and plaques under the Dolphin brand to major casinos in Asia and Australia.
"We are excited to announce we have completed the purchase of Dolphin Products Limited including their portfolio of gaming currency and manufacturing equipment," commented Gregory Gronau, GPIC's President and Chief Executive Officer.
"The acquisition will allow us to expand our product portfolio while consolidating the manufacturing into our existing plants to better serve our casino customers. The acquisition continues our strategy of continually expanding the suite of our products we offer our customers. Dolphin is a well known brand in the industry and we look forward to adding their products to our portfolio."