Gabelli ups stake in LV company

Friday, Jan. 28, 2000 | 12:10 p.m.

New York investor Mario Gabelli has significantly increased his stake in Las Vegas-based Jackpot Enterprises Inc.

Documents filed Thursday with the Securities and Exchange Commission indicate a series of funds controlled by Gabelli purchased 164,500 shares of Jackpot stock over the past two weeks. Gabelli paid a total of $1.6 million for the shares, an average of $9.73 per share.

Over the same period, Gabelli sold 10,000 shares, netting $103,000.

The purchases increased Gabelli's stake in the company by 30 percent. Gabelli now controls 673,500 shares of Jackpot stock, a 7.81 percent stake.

Jackpot stock closed Thursday at $10.75, off 19 cents from Wednesday.

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