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Non-Tech : LVEN:NASDAQ--Las Vegas Entertainment Inc. -- Ignore unavailable to you. Want to Upgrade?

To: jbIII who wrote (92)	10/18/1999 11:50:00 AM
From: Janice Shell	Read Replies (1) \| Respond to of 228

The T.2 halt in LVEN has been changed to an H.10: Monday October 18, 11:33 am Eastern Time SEC suspends trading in Las Vegas Entertainment WASHINGTON, Oct 18 (Reuters) - The Securities and Exchange Commission on Monday suspended trading in gaming and media company Las Vegas Entertainment Network Inc. (NasdaqSC:LVEN - news) through Oct. 29. The SEC said questions have been raised about the accuracy of information that the Los Angeles-based company has released to the public, namely, an agreement to receive $190 million in cash from two investors. The company said last Friday that it was withdrawing its bid of $11 per common share for ownership of Jackpot Enterprises Inc. (NYSE:J - news), one of Nevada's largest slot machine makers. Las Vegas Entertainment had recently announced that an acquisition would be funded by the recent sale of an unspecified 12-million-share stake in the company to two investors for $190 million. In suspending trading in the company's stock, the SEC "cautions broker-dealers, shareholders and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by Las Vegas Entertainment," the agency said. "The commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of" Las Vegas Entertainment, which also develops technology for delivery of television and video programming, Internet access and telephony. The company did not immediately return a telephone call seeking comment on the trading suspension. Its shares closed Friday at 2-31/32 on Nasdaq. biz.yahoo.com