Wisconsin sells stake in LV operator

Single Sign-On: You can use Facebook account to log in to LasVegasSun.com. (We will use your first and last name from your profile.)
Trusted Commenting: Facebook connected users automatically become trusted commenters.

Thursday, Feb. 3, 2000 | 11:39 a.m.

The state of Wisconsin's employee pension fund sold its entire stake in Lady Luck Gaming Corp. of Las Vegas.

The State of Wisconsin Investment Board reported no holdings of Lady Luck stock in a form filed with the Securities and Exchange Commission. One year ago, it filed documents with the SEC indicating it held 417,500 shares of Lady Luck stock, an 8.6 percent stake.

The filing did not indicate when the board sold off its holdings, or at what price.

Since the board acquired the shares, Lady Luck's value has nearly tripled, giving the shares a current market value of $4.65 million. Lady Luck is in an agreement to be acquired by Mississippi-based Isle of Capri Casinos Inc. for $12 per share, pending shareholder approval.