Players International Inc., a Calabasas-based developer and operator of casinos, said it plans to sell 2 million newly issued shares of stock to the public. In addition, the company said about 2 million outstanding shares will be sold by certain stockholders.
Players said the proceeds from the public offering by the company will be used to fund the development of a proposed riverboat casino in Lake Charles, La., and for additions to its riverboat casino now operating in Metropolis, Ill. The proceeds will also be used to repay debt and for future expansion, the company said.
Players said it filed a registration statement relating to the public offering with the Securities and Exchange Commission, but the registration has not yet become effective. The offering will be underwritten by Donaldson, Lufkin & Jenerette Securities Corp. and Raymond James & Associates Inc.
Separately, Players said it has appointed Howard A. Goldberg as president and chief operating officer. Goldberg, 47, was formerly president and managing partner of a law firm in Atlantic City, N.J.
Marshall Geller, a member of Players' board who served as interim president and chief operating officer earlier this year, is now chairman of the company's executive committee. Also, Players said Larry Close has joined the company as general manager of operations in Metropolis, Ill., replacing Scott Cooper, who was named general manager of the Players' casino planned for Lake Charles, La.