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Anchor Gaming's Chief Executive Resigns

T.J. Matthews, executive vice president of Anchor, has been appointed the company's new president and chief executive. Rumbolz also resigned from Anchor's board.

In a company press release, Rumbolz said he was leaving to explore other opportunities.

"There comes a time in every executive's career when he re-examines his opportunities," Rumbolz said. "I am looking forward to exploring a wide range of entrepreneurial and technology situations together with more traditional bricks-and-mortar business enterprises. Now is a good time for me and Anchor to make this move."

Anchor's stock has been sliding since November, when it peaked at $62.19. On Friday, the stock closed at $38.94, nearing its 52-week low of $33.

In the quarter ending Dec. 31, 1999, Anchor reported net income of $15.3 million, or $1.25 per diluted share, a decline of 7 percent from the year-ago period. Revenues over the same period more than doubled, to $130.7 million, the result of Anchor's acquisition of Powerhouse Technologies.

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