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Jacobs Entertainment makes 2nd bid for MTR Gaming

October 3, 2013
Associated Press

MORGANTOWN, W.Va. (AP) — Jacobs Entertainment is trying again to buy West Virginia-based MTR Gaming Group.

Jacobs says the deal it's offering is 10 percent richer than a planned merger with Eldorado Resorts.

In Securities and Exchange Commission filings Wednesday, Jacobs says its unsolicited offer of $5.69 cents per share is worth $15.6 million more than Eldorado Resorts' offer of $5.15 per share.

Jacobs also says MTR's board wouldn't be selling control and could still appoint the majority of the board of directors.

The merger announced last month would give Nevada-based Eldorado 55 percent of the new company, which would have a combined per-share value of about $1 billion.

Jacobs owns more than 18 percent of MTR's stock.

MTR operates casinos in Pennsylvania, West Virginia and Ohio.

Neither Eldorado nor MTR immediately commented Thursday.

 
 

 

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