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November 15, 2009

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Grocery slots at risk

Monday, July 19, 1999 | noon

Jackpot Enterprises Inc. of Las Vegas announced it may be forced out of all Albertson's grocery stores in Southern Nevada, sending its stock down more than 4 percent in early trading today.

The company said the slot operator for Raley's Northern Nevada stores, Alliance Gaming Group, has filed an application with the Nevada Gaming Control Board to operate machines at Albertson's 15 Southern Nevada stores, which would displace Jackpot.

Raley's announced last month it would acquire those stores from Albertson's. Albertson's was forced to sell the stores in order to gain federal approval for its acquisition of American Stores Co., owner of Lucky and Sav-On stores in Las Vegas.

The 246 machines operated at the stores account for 15 percent of Jackpot's total revenues, and a "significantly greater percentage of Jackpot's total operating income," according to a company statement. Jackpot said it believes there is "no proper basis to terminate the agreement," and said it is reviewing its legal options.

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