LAI Games is now shipping the new Color Match prize merchandising game. Factory execs say the game received an enthusiastic reception when it made its debut at the IAAPA show in November. Color Match features addictive game play and an intuitive operator menu that makes setup a breeze.
In the skill-based Color Match, players match colors on a rotating disk to win a prize. The level of difficulty increases as players get closer to the major prize. Minor and winner-every-time prize options are tickets, capsule balls, or small prizes vended on prize arms. Major prizes are displayed and vended from large window compartments. Game setup is easy and intuitive, with LAI’s proprietary on-screen operator menu that practically eliminates the need for a user manual. The factory has filed for patents on the unit.
For more information or to place an order, call Chris Brady at 817/235-7773 or email sales@LAIGames.com.
The national pizzacade chain Chuck E. Cheese’s announced plans to merge with an affiliate of Apollo Global Management.
Apollo, an investment manager, will acquire CEC for approximately $1.3 billion, including the assumption of the company’s outstanding debt.
Apollo’s $54 per share all cash offer represents a premium of approximately 25% over CEC’s closing share price on January 7, the last trading day prior to media speculation regarding a possible transaction and a premium of approximately 36% over the twelve-month volume weighted average share price for the period ending January 7, 2014.
The transaction was unanimously approved by the CEC Board, which recommends that CEC shareholders tender their shares in the offer.
“We are pleased to have reached this agreement with Apollo, which maximizes value for all of our shareholders,” said Richard M. Frank, chairman of CEC. “This transaction represents the successful conclusion of our extensive review of strategic alternatives.”
“We are excited about this transaction with Apollo, as it recognizes the value of CEC’s global brand, strong cash flows and growth prospects while providing our shareholders with an immediate and substantial premium,” said Michael H. Magusiak, CEO of CEC. “Apollo brings significant industry expertise and financial resources, and we look forward to working with them to further grow CEC domestically and internationally.”
Goldman, Sachs & Co. is serving as financial advisor to CEC.
Jersey Jack Pinball has entered into an equity partnership with JDA, a private equity firm focused on helping start-up businesses develop and grow.
“The founding group of JDA has a proven track record of success and generated over $40 million dollars for their shareholders in their last transaction,” reported JJP in a press release announcing the deal. “This partnership will now enable Jersey Jack Pinball to have the resources to fund multiple game platforms, expand into related technologies and markets and to provide a catalyst for growth. It further provides Jersey Jack Pinball with deeper management and financial resources.”
Said JJP founder Jack Guarnieri: “We are very excited to combine the strengths of these two dynamic organizations. The expanded talent, experience and financial strength that this brings will enhance the future products we are able to build and add to the enjoyment of our player base.”
Guarnieri noted that the principals at JDA are true pinball enthusiasts and personally own over 40 pinball machines including, of course, The Wizard of Oz.
JDA’s shareholders have invested in many tech firms, including businesses that provide services for the blind and those that develop critical mass computer applications.
New Jersey Ops Weigh In On Longer School Year Proposal
Members of the New Jersey Amusement Assn. have been speaking out to public officials about their concerns over a plan to lengthen the school year. On January 14, NJAA President John Mauer, along with Ed McGlynn and Kim Samarelli, attended Gov. Christie’s State of the State address. They also attended an event at the New Jersey Restaurant Assn. with some of the other organizations, and spoke one-on-one with at least one influential state lawmaker about their concerns.
“During Christie’s speech, he spoke about the proposal and why he feels it would benefit the children of New Jersey,” reported a recent edition of the NJAA email newsletter. “However, he did not provide any details on how much he’d like to add to the school day, or the 180-day school calendar.
“If school hours and the school year are extended, summer vacation time would be shortened. The impact of this proposal would not only affect students and teachers, but families, taxpayers, tourism partners and seasonal businesses as well. The governor left us with a promise that the specifics of the school proposal will come shortly,” the association declared.
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