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Microcap & Penny Stocks : Las Vegas ENtertainment

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To: Wayne Allen who wrote (9)	10/27/1996 6:26:00 PM
From: Brian Harper	of 72

Is this the same news you saw?? Don't know what to think - good or bad?? LOS ANGELES, Oct 27 (Reuter) - Las Vegas Entertainment Network Inc said that International Thoroughbred Breeders Inc <ITB.A> has failed to obtain financing and required leasing commitments for the development of the El Rancho Hotel & Casino property in Las Vegas and the Starship Orion project. Las Vegas Entertainment said it has exercised its option to arrange for the refinancing of about $14 million for the first mortgage on the El Rancho property and has deposited $1 million in an escrow account to provide for carrying costs over the next six months. The announcement came late Friday, after the market closed. The company said it now has the right to arrange and cause International Thoroughbred to accept alternative financing to open the property. In February, International Throroughbred said that it had acquired land from Las Vagas Entertainment to build the complex, where International Thoroughbred would own and operate one casino and Las Vegas Entertainment would own and operated another.

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