Consummation of Merger Anticipated to Occur on or about October 1, 2014MATTHEWS, N.C., Sept. 26, 2014 — (PRNewswire) — PokerTek, Inc. (Nasdaq: PTEK) ("PokerTek") today announced that the Nevada Gaming Commission (the "Nevada Commission") has approved the application of Multimedia Games Holding Company, Inc. (Nasdaq: MGAM) to acquire PokerTek. The Nevada Commission also approved Multimedia Games, Inc. ("Multimedia Games"), a subsidiary of Multimedia Games Holding Company, Inc., as PokerTek's sole shareholder following the completion of the merger.
PokerTek previously announced that it had entered into a definitive agreement and plan of merger with Multimedia Games, pursuant to which Multimedia Games had agreed to acquire PokerTek at a price of $1.35 per share in cash. Under the agreement, completion of the transaction was subject, among other things, to the approval by holders of PokerTek's common shares, the receipt of approvals from the Nevada Commission, and other customary closing conditions. PokerTek's shareholders approved the merger at a special meeting held on July 24, 2014. The Nevada Commission's approvals were the final regulatory approvals required to consummate the merger. PokerTek and Multimedia Games anticipate the merger will be consummated on or about October 1, 2014, subject to the satisfaction of the remaining customary closing conditions.
The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, including, without limitation, statements regarding the expected benefits and closing of the proposed merger transaction and PokerTek's expectations, beliefs and intentions. All forward-looking statements included in this press release are based on information available to PokerTek on the date hereof. No assurance 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 PokerTek's results of operations or financial condition. Accordingly, actual results may differ materially and adversely from those expressed in any forward-looking statements. There are various important factors that could cause actual results to differ materially from those in any such forward-looking statements, many of which are beyond PokerTek's control. These statements are subject to risks, uncertainties, and other factors, including, among others: the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement; the inability to complete the merger due to the failure to satisfy conditions required for the consummation of the merger; and other risks as are mentioned in reports filed by PokerTek with the Securities and Exchange Commission from time to time, including PokerTek's most recent periodic reports on Form 10-K and Form 10-Q.
For further information contact:
Mark Roberson, CEO
SOURCE PokerTek, Inc.
Nevada Gaming Commission
Multimedia Games Holding Company, Inc.