Printer Friendly

CASINO DATA SYSTEMS FILES FOR PUBLIC OFFERING

 LAS VEGAS, Dec. 31 /PRNewswire/ -- Casino Data Systems announced today that it has filed a Registration Statement with the Securities and Exchange Commission for a public offering of 1,550,000 shares of Common Stock, 1,250,000 shares of which will be offered by the company and 300,000 shares of which are being offered by certain shareholders of the company. Montgomery Securities and Kemper Securities Inc. will co- manage the offering. The Registration Statement also covers 97,500 shares of Common Stock issuable upon exercise of a warrant that becomes exercisable on April 5, 1994.
 The company intends to use the net proceeds from the offering to further develop, enhance and market the company's slot accounting and player tracking system, to develop and operate multi-site progressive jackpot systems for slot machines and for general corporate and working capital purposes. The company also intends to use a portion of the net proceeds to repay a promissory note to be issued to Grand Casinos Inc. as part of the transaction described below.
 The company also announced that it has agreed to redeem, on Jan. 1, 1994, 230,000 shares of Common Stock owned by Grand Casinos Inc. at a purchase price of $23.475 per share, subject to adjustment based upon the price in any public offering by the company during the next 12 months. If the company completes a public offering within the next 12 months, the purchase price will be 90 percent of the public offering price or $20, whichever is higher. The purchase price is payable in cash and a promissory note that is payable on the earlier of Jan. 1, 1996, or the completion of a public offering.
 The company also announced that earnings per share for the three months ended March 31, 1993, the six months ended June 30, 1993, and the nine months ended Sept. 30, 1993, was $0.04 higher than previously announced due to an incorrect weighted shares outstanding calculation. The correct earnings per share for the nine months ended Sept. 30, 1993, was $0.51.
 A Registration Statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Copies of the prospectus, when available, can be obtained from Russell C. Mix at Casino Data Systems, 3265 W. Tompkins, Las Vegas, NV 89103.
 Casino Data Systems develops, manufactures and distributes electronic slot machine accounting and player tracking systems to the gaming industry.
 -0- 12/31/93
 /CONTACT: Janis Higginbotham, director of Corporate Communications, or Russell Mix, VP and general counsel, 702-891-8925 or (fax) 702-891-8935/


CO: Casino Data Systems ST: Nevada IN: CNO SU: OFR

JB-EH -- SD002 -- 8258 12/31/93 08:01 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 31, 1993
Words:525
Previous Article:CANONIE ENVIRONMENTAL SERVICES CORPORATION ANNOUNCES PRIVATE SALE OF SHARES AND NEW DIRECTORS
Next Article:LADY LUCK POSTS STRONG NUMBERS FOR OCTOBER/NOVEMBER
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters