Agassi Investment Group Purchases Major Equity in Las Vegas Discount Golf.LAS VEGAS--(BUSINESS WIRE)--Oct. 5, 1998--Las Vegas Discount Golf & Tennis, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :LVDG) announced the sale of 2,303,290 shares of common stock for $2,500,000 or $1.085 per share to A.S.I., L.L.C. A.S.I. is an Investment Group headed by Andre Agassi and Sunbelt Communications, Inc. The Company simultaneously agreed to purchase from its subsidiary, Saint Andrews Golf Corporation (NASDAQ:SAGC SAGC Surface Action Group Commander SAGC Secretary of the Army's General Counsel SAGC St. Albert Gymnastics Club ), 250,000 shares of SAGC Series B Convertible Preferred Stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". for $2,500,000 at $10 per share. Through this transaction, the Agassi/Sunbelt Group has become a strategic business partner with the management of LVDG and will utilize its extensive knowledge in sports and marketing to assist in the development and expansion of the All-American SportPark. The All-American SportPark is a sports-themed park located on the southern end of the Las Vegas "Strip." The first Park is scheduled to open within 2 weeks and will consist of family-based entertainment and participatory sport activities for adults and children. The SportPark hosts several major attractions such as: ALL-AMERICAN SPORTPARK PAVILION, MAJOR LEAGUE BASEBALL "MLB" and "Major Leagues" redirect here. For other uses, see MLB (disambiguation) and Major Leagues (disambiguation). Major League Baseball (MLB) is the highest level of play in North American professional baseball. SLUGGER STADIUM, NASCAR NASCAR (National Association for Stock Car Auto Racing), organization that sanctions American stock-car races, est. 1948. It held its first race in Daytona Beach, Fla. SPEEDPARK AND ALLSPORT ARENA. The programming for activities in these attractions will be consistent with the vision and leadership of Andre Agassi and Sunbelt Communications, Inc. |
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