LV firm buying small Reno casino

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Wednesday, Dec. 13, 2000 | 10:50 a.m.

PDS Financial Corp. of Las Vegas today announced plans to acquire the Gambler Casino in downtown Reno for an undisclosed sum.

PDS said it is leasing the property from the current owner until the Nevada Gaming Commission approves the deal.

The Gambler has 175 slot machines, and generates revenues of about $2 million per year. PDS said it expects the acquisition to have a positive impact on cash flow and earnings per share in 2001 after certain "revenue-enhancing improvements" are implemented.

PDS is primarily a provider of gaming equipment financing and leasing to the gaming industry, and also sells refurbished slot machines. The company made an offer to purchase the Four Queens hotel-casino in downtown Las Vegas in March for $30 million, but terminated that deal one month later.