Brief: LV firm looks at acquisitions

Friday, Oct. 30, 1998 | 4 a.m.

A group of Las Vegas investors plans to create a new gaming company through a rollup-style initial public offering.

The investors, headed by Ken Maul and Russell Roth, publishers of Las Vegas Investment Report, want to sell $1 million in stock in a new company, Las Vegas Gaming Inc. The company, founded in April, already owns the rights to Nevada Numbers, a keno-like casino game, and to B2B Roulette, a version of casino roulette which includes a progressive jackpot.

The company plans to purchase TJ Wholesale, a playing card-recycling company. Las Vegas Gaming plans to buy other companies to expand its product lines.

Las Vegas Gaming reported assets of $532,622 at June 30. The company generated no revenues in the June quarter.

Rollup IPO's are common in the technology industry, where a number of acquisitions are funded through a stock offering, creating a new company.

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