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twitterPowerhouse shareholders OK deal
Thursday, June 10, 1999 | 11:12 a.m.
ATLANTA -- Powerhouse Technologies Inc. shareholders voted at their annual meeting to approve the previously announced merger with Anchor Gaming, Powerhouse said.
The merger calls for Anchor to pay about $220 million, or $19.50 in cash for each share of Powerhouse, and to assume another $70 million of debt.
"We can now move on to getting the remaining regulatory approvals we expect to receive in time to close this merger within the next few months," Powerhouse President Richard Haddrill said.
Las Vegas-based Anchor develops slot and video games, while Powerhouse makes lottery, pari-mutuel and video game equipment.
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