LV firm agrees to managers’ buyout

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Thursday, April 22, 2004 | 10:45 a.m.

PDS Gaming Corp. of Las Vegas announced this morning that it has agreed to a proposal by company executives Johan P. Finley, Lona M. B. Finley and Peter D. Cleary to acquire all of the company's outstanding stock.

The $98 million proposal was announced in February 2003, and the company's board of directors and a special committee of the board have unanimously approved the plan.

Final approval must still be received by a majority of the company's shares not owned by the management group, the company's commercial lenders and gaming regulators.

PDS primarily finances and leases gaming equipment to operators nationwide.