Stock split announced

Thursday, March 21, 2002 | 11:11 a.m.

Alliance Gaming Corp. of Las Vegas announced Wednesday it plans to split its stock 2-for-1 for the second time in less than a year.

Shareholders will be issued one additional share of Alliance stock for every share they own on April 3. The split will take effect on April 8.

Alliance split its shares 2-for-1 on Aug. 21, 2001. Since that time the stock has risen nearly 73 percent.

Separately, Alliance announced it had closed on its acquisition of Advanced Casino Systems Corp., a New Jersey-based supplier of casino software systems. Alliance paid $14.6 million; however, the price was $8.5 million if ACSC's cash on hand is netted out.

ACSC is the only slot accounting software provider in Atlantic City and Connecticut, Alliance said. The company also has software installed at Caesars Palace and The Venetian.

To reflect earnings from ACSC, Alliance raised its earnings estimate from $1.97 to $2.02 per share for the fiscal year ending June 30. This new estimate does not account for the planned split.

Over the next 12 months, Alliance said it expects earnings to be boosted by 12 cents per pre-split share from the ACSC acquisition.