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Excalibur to Buy Las Vegas Entertainment

August 18, 1993|From Staff and Wire Reports

IRVINE — Excalibur Holding Corp. said Tuesday that it has agreed to buy Las Vegas Entertainment Network Inc., a gaming and video production firm, for about $156 million.

Under the agreement, Excalibur will pay $12 apiece for the estimated 12.5 million outstanding shares of Las Vegas Entertainment Network.

Excalibur, an investor group based in Irvine, recently purchased Mountaineer Park, a harness horse racing track in Chester, W.Va., for $6.7 million.

Las Vegas Entertainment Network, based in Century City, is in the process of buying two Las Vegas casino hotels and has acquired a riverboat gambling site in Mississippi.

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