GTECH Conference Call Scheduled
A conference call about GTECH Holdings Corporation's (GTK) fiscal 2000 fourth quarter and yearend reports will be held April 6 at 9 a.m. (EST). The call can be accessed by dialing 612-332-0720 or by clicking on the "Investors" link at www.gtech.com for the live Internet broadcast version.
IGT, Silicon Merger Consummated
Last Tuesday, officials from International Gaming Technology (IGT) and Silicon Gaming Inc. (SGIC.OB) announced that their merger had been consummated. Under the terms of the agreement, Silicon will be merged with a wholly owned subsidiary of IGT as part of a cash-for-stock merger. "I am pleased that we were able to bring this merger to a smooth close and confident that by combining Silicon's technology with our existing product development efforts, IGT will deliver additional value to both our customers and the industry," commented Tom Baker, IGT's president and CEO.
At the same time, Silicon sold its shares (other than shares representing 4.9 percent) of WagerWorks, Inc., a majority owned subsidiary of Silicon Gaming, for approximately $6.2 million. Further, pursuant to the merger and taking into account the sale of the shares of WagerWorks, Inc., shareholders of Silicon Gaming, including those holding 39,750 outstanding shares of Series D preferred stock convertible into 174,285,127 shares of common stock, will receive cash in an amount equal to approximately $0.119345 per
share of common stock.
eLOT Requests Nasdaq Hearing
Officials from lottery firm eLOT Inc. (ELOT) are requesting a hearing with the Nasdaq to determine whether the company's stock could maintain its current listing status or be dropped to over-the-counter trading status, reports Dow Jones. The company received written warning in December that it faced de-listing if it was unable to raise its stock prices to $1 per share for at least 10 consecutive days. Since the company has been unable to meet this minimum standard, it's likely that eLOT will soon be trading shares on the bulletin boards.
Paddy Power Could Be Latest Foot-and-Mouth Victim
Shareholders for Power Leisure, the trading company for Irish bookmaker Paddy Power, were warned that the company's earnings might be impacted by foot-and-mouth disease. "While earnings' expectations for 2001 for these operations are not adversely affected to date, they are difficult to reaffirm in the light of the continuing uncertainty resulting from foot-and-mouth disease," officials said in a press statement. Peter O'Grady Walshe, the company's finance director, refused to call this a profit warning, instead telling the Irish Times that it "is putting down a marker saying it is entirely outside of our control whether there is or there isn't horse racing and dog racing in Ireland and the U.K."
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