Anchor, Powerhouse merger clears hurdles

Friday, June 25, 1999 | 11:05 a.m.

Nevada and Mississippi gaming regulators approved the merger of Anchor Gaming and Powerhouse Technologies Inc.

Las Vegas-based Anchor is paying $19.50 a share in cash, or about $220 million, and assuming $70 million of debt to acquire Powerhouse. The companies said they expect the merger to close next week.

Anchor designs and distributes slot machines and operates a gaming machine route in Nevada and two casinos in Colorado.

Powerhouse, headquartered in Atlanta, supplies lottery and pari-mutuel hardware and software through its VLC, AWI and United Tote subsidiaries and operates Sunland Park Racetrack & Casino in New Mexico.

Powerhouse's AWI offices will remain open in Atlanta, as will the VLC offices in Bozeman, Mont., and United Tote facilities in Timonium, Md.

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