Friday, Oct. 10, 1997 | 9:43 a.m.
Local
* IGT, SHUFFLE MASTER INK PACT -- International Game Technology Inc. and Shuffle Master Inc. are on the upswing. Shares of both companies rose Thursday, partly due to the announcement they'd signed a second joint marketing agreement calling for IGT to market new Shuffle Master video gaming software products. IGT stock rose 63 cents, to $25.56, while Shuffle Master climbed 50 cents, to $9.38. IGT stock traded as low as $16 a share less than three months ago, but has jumped nearly 60 percent in value since mid-July. It now has a market capitalization of almost $3.2 billion, trailing only Hilton Hotels Corp., ITT Corp. and Mirage Resorts Inc. in stock value.
* STATION'S TAKEOVER PLAN -- Station Casinos Inc. said it had adopted a shareholder rights plan, a takeover defense strategy that would be triggered if anyone acquires more than 15 percent of the company's outstanding common stock or announces a tender offer for the company. The plan entitles holders to acquire 1/100 share of preferred stock at an exercise price of $40 for each share of common they own.
* HILTON GETS GOLF COURSE -- In a bid to offer gamblers at its Atlantic City properties a new amenity, Hilton Hotels Corp. has agreed to buy Atlantic City Country Club. The 100-year-old bayside golf club, whose 18-hole course gives a view of Atlantic City across a salt marsh, will help Hilton market its casino properties to gamblers looking for something different, said Wallace Barr, president and chief operating officer of Bally's Park Place hotel-casino.
* JUDGE CLEARS BALLY'S SUIT -- A Delaware judge granted Hilton Hotels Corp.'s bid to settle lawsuits brought by Bally's Grand Inc. shareholders for $97.5 million. The agreement calls for Hilton to buy Bally's Grand shares it doesn't already own for $52.75 each and pay $42.75 for each outstanding stock warrant, ending a fight over the planned Paris hotel-casino land.
Briefcase
Casino Data Systems Inc. said the Mississippi Gaming Commission has approved its vide-poker machines for casinos throughout the state. ... Spintek Gaming Technologies said it has received a patent for its slot-machine coin-weighing technology from South Africa and gained certification for use of its AccuSystem management-information system in Connecticut.
To contact the SUN business news desk, call 259-4083 or e-mail [email protected]
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