Investment banker hired

Wednesday, Oct. 16, 2002 | 11:15 a.m.

Las Vegas-based PDS Gaming Corp., which finances, leases and sells gaming equipment to casinos and runs Rocky's Sports Pub and Grill in Reno, today said it hired Libra Securities LLC, a Los Angeles-based investment banking firm.

The investment banker will explore strategic alternatives to increase the amount of capital available for finance and lease originations, including the sale of all or part of the company, partnering or merging with another business or seeking investors or financing partners.

The engagement runs through Dec. 31, after which it may be terminated by either party.

"In the first quarter of 2002, we restructured our operations to focus on our core business -- finance and lease originations," Johan Finley, PDS chairman and CEO, said in a statement. "This has allowed us to participate in the present expansion of the gaming industry throughout the United States. On a daily basis, we see more opportunities for originations of financings or leases of gaming equipment than we have the capital capacity to complete."