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Jackpot merger vote set

Friday, July 23, 1999 | 11:28 a.m.

Jackpot Enterprises Inc. of Las Vegas will hold a special shareholder meeting Sept. 14 so holders can vote on its $424 million acquisition of Players International Inc. of Atlantic City.

The shareholder meeting will be held at the Riverport Casino Center in Maryland Heights, Mo. Players will hold its shareholder meeting two hours prior to Jackpot's.

Jackpot will pay $8.25 per share in cash and stock for Players, and assume $160 million in debt. The acquisition of the riverboat casino operator is part of Jackpot's strategy to diversify away from the slot route business. The deal is expected to close by the end of 1999.

Shareholders will also be asked to vote on a dissident proposal that would require the company to reveal all acquisition offers brought to the board of directors for the past three years. Jackpot asked shareholders to vote against the proposal, stating that opening its records would hurt its ability to negotiate future deals because of fear that confidentiality agreements would be breached.

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