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Las Vegas firm agrees to managers' buyout
PDS Gaming Corp. of Las Vegas announced this morning that it has agreed to a proposal by company executives Johan P. Finley, Lona M. B. Finley and Peter D. Cleary to acquire all of the company's outstanding stock.
(PRWEB) April 24, 2004 --PDS Gaming Corp. of Las Vegas announced this morning that it has agreed to a proposal by company executives Johan P. Finley, Lona M. B. Finley and Peter D. Cleary to acquire all of the company's outstanding stock.
The $98 million proposal was announced in February 2003, and the company's board of directors and a special committee of the board have unanimously approved the plan.
Final approval must still be received by a majority of the company's shares not owned by the management group, the company's commercial lenders and gaming regulators.
PDS primarily finances and leases gaming equipment to operators nationwide.
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