HONG KONG, May 8, 2017 /PRNewswire/ -- The Board of
Directors of Entertainment Gaming Asia Inc. (Nasdaq: EGT) (the
"Company") today confirmed that Melco International Development
Limited (HKG: 0200) ("Melco"), through its wholly-owned subsidiary
EGT Nevada Holding Inc., has commenced an unsolicited cash
tender offer ("Offer") to acquire all outstanding shares of
common stock, $0.001 par value, of
the Company ("Company Common Stock"), other than shares of Company
Common Stock owned by Melco or its affiliates, at a price of
$2.35 net per share.
In accordance with its fiduciary duties, the Board of Directors
of the Company (the "Board") is carefully reviewing and
considering, in consultation with its advisors, all aspects of the
Offer so that the Board can determine whether the Board recommends
acceptance or rejection of the Offer, remains neutral with respect
to the Offer, or is unable to take a position with respect to the
Offer. Such determination and recommendation to the Company's
stockholders, together with the reasons therefor, will be disclosed
in the Company's Solicitation/Recommendation Statement on Schedule
14D-9 which will be filed by the Company with the Securities and
Exchange Commission ("SEC") on or before May
19, 2017 and disseminated to the Company's stockholders.
The Company's stockholders are advised not to take any
action with respect to the Offer until the Board has filed with the
SEC its Solicitation/Recommendation Statement on Schedule 14D-9
with respect to the Offer and disseminated such statement to the
Company's stockholders.
Forward Looking Statements
This press release contains forward-looking statements
concerning Entertainment Gaming Asia Inc. within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Those
forward-looking statements include statements assumptions about our
operations, such as cost controls, market conditions, liquidity and
financial condition. Such statements are subject to certain risks
and uncertainties, and actual circumstances, events or results may
differ materially from those projected in such forward-looking
statements. Factors that could cause or contribute to differences
include, but are not limited to, risks and uncertainties associated
with Melco's tender offer and those other risks set forth in the
Company's annual report on Form 10-K for the year ended
December 31, 2016 filed with the SEC
and subsequently filed reports. The Company cautions readers not to
place undue reliance on any forward-looking statements and it does
not undertake, and specifically disclaims any obligation to update
or revise such statements to reflect new circumstances or
unanticipated events as they occur.
Additional Information
This communication does not constitute an offer to buy or
solicitation of an offer to sell any securities. The Company
intends to file a Solicitation/Recommendation Statement on Schedule
14D−9 with the SEC. The Solicitation/Recommendation Statement on
Schedule 14D-9 filed with the SEC by the Company with respect to
the Offer will be mailed to the Company's stockholders. INVESTORS
AND STOCKHOLDERS OF THE COMPANY ARE URGED TO READ THESE AND OTHER
DOCUMENTS FILED WITH THE SEC CAREFULLY IN THEIR ENTIRETY WHEN THEY
BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.
Investors and stockholders will be able to obtain free copies of
these documents (when available) and other documents filed with the
SEC by the Company through the web site maintained by the SEC at
http://www.sec.gov.
CONTACTS:
Entertainment Gaming Asia Inc.
Traci Mangini
tracimangini@EGT-Group.com
872/802-4227
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SOURCE Entertainment Gaming Asia Inc.
