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twitterGabelli 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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