Sun Cash-Tender Offer
Sun International Hotels Ltd. (SIH) on Wednesday announced a cash tender offer to buy all of its outstanding 9 percent senior-subordinated notes that are due in 2007.
The offer expires at midnight EST on June 4 unless extended or terminated before that date and time.
The company is also soliciting consents to proposed amendments to the indenture of the notes; the proposed amendments would take away the restrictive covenants and events of default under which the notes fall.
SunOnline, the company's interactive gambling division, took its Casino Atlantis site live at the beginning of 2002.
PENN Execs File for Sale of $17 million in Stock
Two executives at Penn National Gaming Inc. (PENN) have filed forms with the Securities and Exchange Commission to sell more than $17 million worth of the company's stock.
Peter M. Carlino, the chairman and CEO, is selling 300,000 shares worth $11.3 million. William J. Bork, Penn's director, filed to sell 160,667 shares of stock valued at $6 million.
On their Form 144s, both officials listed April 25 as the day the shares were sold as well as Merrill Lynch as the broker. A Form 144 announces an intention, not a commitment, to sell stock.
GPTX to Increase Holding in Gaming Affiliate
Global Payment Technologies Inc. (GPTX) is acquiring an additional 19 percent of its South African gaming affiliate, Global Payment Technologies Holdings (Pty) Ltd.
GPTX purchased the shares from Hosken Consolidated Investments Ltd. for $979,000. The company, which develops currency acceptance systems for industries including gaming, now controls 24.4 percent of Global Payment Technologies Holdings (Pty.) Ltd.
The South African company has exclusive rights to distribute GPTX's online gaming products in South Africa.
Company Offers to Purchase Majority Interest in MDI
International Capital Partners is proposing that it purchase a majority interest in MDI Entertainment Inc. (LTRY).
International Capital Partners owns more than one million of MDI's shares and is proposing that it buy 50 percent of the outstanding shares that it does not already have. The company has said it will pay $3.30 per share in cash.
MDI, a lottery services company, said its board of directors was reviewing the offer.
Youbet.com Conference Call May 13
Youbet.com (UBET) will host a conference call to discuss its first quarter results at 5 p.m. EST on May 13. Listeners can access the call at Youbet.com's Web site, www.youbet.com. A recording of the call will be available online for 90 days on the company's site. To listen to the replay via telephone, call 888-266-2081 or 703-925-2533 internationally and enter the pass code 5989622.
Report Released
In its recently released report covering the three-month period ended March 31, Poker.com (PKER.OB) announced a 57 percent increase in revenue. Revenue for the company's third quarter totaled $710,000, which compares from last year's Q3 revenue of $452,000.
Poker.com (PKER.OB) - Third Quarter Report