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American Vantage, YaYa LLC, Sign Deal13 January 2003LAS VEGAS --American Vantage Cos. of Las Vegas has signed a letter of intent to acquire a controlling interest in YaYa LLC, a subsidiary of Knowledge Universe. The deal under consideration would transfer YaYa's assets and liabilities into a new majority-owned subsidiary of American Vantage tentatively called Gamze Inc. The deal is expected to close within 90 days. Los Angeles-based YaYa, formed in 2000, develops advertiser-driven games for clients including DaimlerChrysler, Intel, PepsiCo and Burger King. Las Vegas-based American Vantage Cos., which is pursuing a lawsuit against an Indian tribe over the termination of a consulting contract to manage the Table Mountain Casino, had previously announced that it would expand into the gaming, entertainment, media and lifestyle industries. Through a subsidiary, American Vantage also has a 49 percent interest in a restaurant in the Mandalay Bay hotel and casino. |