To: Alan Woinski who wrote (14 ) 10/8/1999 12:41:00 PM From: Spark Respond to of 228
JACKPOT ENTERPRISES INC target of tender by LAS VEGAS ENTERTAINMENT NETWORK INC valued at 95 mil. Excerpted from SC 14D1 filed on 10/08 by LAS VEGAS ENTERTAINMENT NETWORK INC: JACKPOT ENTERPRISES INC target of tender by LAS VEGAS ENTERTAINMENT NETWORK INC valued at 95 mil. Item 1. Security and Subject Company (a) The name of the subject company is: JACKPOT ENTERPRISES, INC. The address of its principal executive offices is: 1110 Palms Airport Drive Las Vegas, NV 89119 (b) The exact title and the number of shares outstanding of the class of securities being sought is: Common Stock, 8,641,000 shares. (c) The principal market in which such securities are traded is the New York Stock Exchange. The high and low sales prices for each quarterly period for the past two years are as follows: (End of item excerpt.) Item 2. Identity and Background The name of the person filing this statement is JACKPOT ACQUISITION CORP., a Nevada corporation, formed solely for the purpose of effectuating the acquisition of JACKPOT ENTERPRISES, INC., by LAS VEGAS ENTERTAINMENT NETWORK, INC., a Delaware corporation. JACKPOT ACQUISITION CORP. and LAS VEGAS ENTERTAINMENT NETWORK, INC. are both located at 1801 Century Park East, Suite 2300, Los Angeles, California 90067. JACKPOT ACQUISITION CORP. does not operate any other business, and has not been a party to any litigation or civil proceeding of a judicial or administrative body of competent jurisdiction, and is not subject to any judgment, decree or final orderenjoining future violations of, or prohibiting activities subject to, federal or state securities laws or finding any violations of such laws. (End of item excerpt.) Item 4. Source and Amount of Funds or Other Consideration The source of funds to be used to finance the purchase of securities for which the tender offer is being made is set forth in the Investment Agreement attached to this Schedule and by this reference included herein as though set forth in full hereat. (End of item excerpt.) Item 5. Purpose of the Tender Offer and Plans or Proposals of the Bidder The purpose of the Tender Offer is to acquire the subject company as a going business. The bidder proposes to maintain the business as presently constituted, and has no extraordinary corporate transactions planned; nor does it contemplate a sale of a material amount of assets of the subject company or any of its subsidiaries. The present Board of Directors and management will be reviewed with the intent to retain as many of the present personnel as possible. No changes in capitalization or dividend policy are presently contemplated, nor are any changes in the subject company's corporate structure of business, or stock exchange listing presently contemplated. The bidder does not intend to terminate any registration of equity securities pursuant to section 12(g)(4) of the Act. (End of item excerpt.) ------------------------------------------------------------------------ DISCLAIMER: The information provided through this news feed is excerpted from documents filed with the Securities and Exchange Commission (SEC) and should not be relied upon without review of the full documents filed with the SEC. In no event will Internet Financial Network, Inc., its officers, directors, employees, stockholders or agents, be liable to you or to any third party for any damages, costs or expenses arising or incurred in connection with any action taken or failure to act that is based upond the information contained in or omitted from this news feed or the documents filed with the SEC. ifn.com ------------------------------------------------------------------------ LAS VEGAS ENTMT NTWK - LVEN Price 6 1/16 Net Change +2 7/16 Volume (000) 817 Day High 9 1/8 Day Low 3 23/32 as of 10/08/99 12:32 PM EDT Only $9.99 per trade. More Info LVEN