Gaming Venture to be spun off

Friday, Jan. 31, 2003 | 11:10 a.m.

Magazine publisher Casino Journal Publising Group. has approved a plan to spin off a subsidiary to existing shareholders.

The subsidiary, Gaming Venture Corp. U.S.A., will focus on casino industry trade publications.

Las Vegas-based Casino Journal Publishing Group, which publishes "Casino Player" and "Strictly Slots" magazines, has become more consumer-oriented, the company said. In January 2001 the company sold its trade show and trade publications to Gem Communications. The company retains the consumer publications as well as its Classic Poker and Gaming Cruises division.

"GVC's business of daily, weekly and annual publications focusing on the financial and trade site of the gaming and lodging sectors along with their consulting operations has become non-core operations for CJPG and it was the board's view that GVC's growth has been constrained due to that," the company said.

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