CasinoCityTimes.com

Gurus
News
Newsletter
Search News Subscribe
Stay informed with the
NEW Casino City Times newsletter!
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!

Gaming News

 

Anchor Gaming Completes Sale Of Sunland Park Racetrack

18 December 2000

LAS VEGAS, Nevada – (Press Release) --Dec. 18, 2000- -- Anchor Gaming (Nasdaq: SLOT) today announced that it had completed the sale of all assets relating to its Sunland Park Racetrack & Casino, located in New Mexico, to the company's former Chairman, Stanley Fulton. The company also announced it expects imminent closing of the sale of its 25% interest in a Massachusetts horse racing facility to Fulton.

The transactions were part of the agreement to acquire 4,596,200 shares of stock from Stanley Fulton and members of his family for a purchase price of $66.60 per share. The stock purchase transaction closed on October 17, 2000.

The $306 million purchase consideration consisted of $240 million in cash and $66 million of promissory notes that were cancelled in conjunction with the closing of the asset sales. The transactions received the necessary regulatory approvals.

Anchor Gaming is a diversified gaming technology company with operations around the world. It operates in three complementary business segments: gaming machines, gaming operations, and gaming systems.

< Gaming News