Gordian Group was engaged by Acres Gaming to render a fairness opinion in connection with a contemplated merger transaction in the gaming industry. As a result of our findings, the Board rejected the merger proposal, and within three years of our advice to the Board, the company was sold for more than two times the original offer.

Case Study
Acres Gaming
CLIENT: Acres Gaming
Industries
Real Estate, Hospitality & GamingBusiness Profiles
Private Equity / Entrepreneur RepresentationsSituation
Acres Gaming was evaluating a merger proposal with another party in the gaming industry.
Engagement
Gordian Group was engaged by Acres Gaming to render a fairness opinion in connection with the contemplated merger transaction. Despite the fact that the proposed merger consideration was well over prevailing public market prices for this historically troubled company, we found that the consideration was inadequate.
Outcome
As a result of our findings, the Board rejected the merger proposal. Within three years of our advice to the Board, the company was sold for more than two times the original offer.