SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Non-Tech : LVEN:NASDAQ--Las Vegas Entertainment Inc.
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: jay goldberg who wrote ()10/1/1999 9:44:00 PM
From: jay goldberg   of 228
 
LVEN SIGNS $190 MILLION INVESTMENT AGREEMENT

The following was released by Dow Jones on October 1, 1999.

LOS ANGELES (Dow Jones)--Las Vegas Entertainment Network Inc. (LVEN) signed an investment agreement to receive $190 million in cash in exchange for 6 million common shares each to two investors.

In a press release Friday, the company said it will use the funds for the acquisition of a hotel-casino and amusement center in Las Vegas, and expansion of the company's business.

The company said $10 million is available to be deposited into the hotel purchase escrow and the balance of the funds is expected to be received by the company within the next 60 days.

Las Vegas Entertainment said that negotiations for the acquisition of the hotel project have been progressing, but no final contract has been signed.

Las Vegas Entertainment own interests in gaming facilities and is developing technology to deliver video programming and Internet access. The company's shares closed Friday at 2 3/4, up 1/2 or 22.2%, on Nasdaq volume of 110,000 shares. Average daily volume is 43,443 shares.

DOW JONES NEWS 10-01-99 08:03 PM EST

If you have any questions regarding this matter, do no hesitate to call me.

Jay Goldberg
Carnegie Cooke & Company
800-262-2331
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News