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Stock split announced

Thursday, July 12, 2001 | 10:27 a.m.

Alliance Gaming Corp. of Las Vegas on Wednesday announced its board has approved plans for a 2-for-1 stock split.

The additional shares will be issued Aug. 20 to shareholders of record as of July 31. The split will increase Alliance's shares outstanding from 10.87 million to 21.74 million.

Alliance's last split came in February 1999, and was a reverse split that enabled the company to maintain the minimum share price necessary to maintain a listing on the Nasdaq. At that time, Alliance swapped one share for every 3.5 shares held by shareholders.

Since last August, Alliance's stock has risen from a low of $1.50 to as high as $41 in recent days. It closed Wednesday at $31.52.

Separately, Alliance slightly adjusted its earnings guidance for the fiscal year ending June 30. The company now said it expects to earn $1.28 per pre-split share for the fiscal year; on June 25, the company told investors to expect $1.27 per share. Earnings will be reduced by $9.8 million, or 93 cents per share, due to one-time charges from Alliance's cancellation of plans to sell its Nevada slot route operations and charges from the refinancing of its debt.

Alliance will report its earnings Aug. 16.

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