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BUSINESS
March 21, 1996 | THOMAS S. MULLIGAN, TIMES STAFF WRITER
Hollywood Park Inc., which has long sought a way into the full-fledged casino business, announced Wednesday a $188-million agreement to acquire Boomtown Inc., which owns Western-themed casinos in Las Vegas; Reno; Biloxi, Miss.; and a riverboat casino in New Orleans. Analysts said the deal gets Hollywood Park into casino gambling in Nevada and the South, and it gives debt-strapped Boomtown access to much cheaper financing than it could obtain on its own.
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BUSINESS
June 12, 1997 | MICHAEL A. HILTZIK, TIMES STAFF WRITER
Louisiana gambling regulators have thrown an unexpected monkey wrench into Hollywood Park's proposed $245-million acquisition of Boomtown Inc., a Nevada-based casino and riverboat company. After receiving an anonymous 500-page document containing allegations of wrongdoing against Hollywood Park Chief Executive Randall D. Hubbard and the company, the state Gaming Control Board on Monday postponed until at least June 20 a decision on whether to approve the deal.
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BUSINESS
April 25, 1997 | Bloomberg News
Hollywood Park Inc.'s planned acquisition of casino operator Boomtown Inc. was approved by the Nevada Gaming Commission, clearing the way for the $245-million stock and debt transaction, the companies said. Hollywood Park and Boomtown said the merger is subject to gaming approval in Louisiana and consent from company bondholders. Last year, Inglewood-based Hollywood Park said it would exchange each share of Boomtown common stock for 0.
BUSINESS
April 25, 1997 | Bloomberg News
Hollywood Park Inc.'s planned acquisition of casino operator Boomtown Inc. was approved by the Nevada Gaming Commission, clearing the way for the $245-million stock and debt transaction, the companies said. Hollywood Park and Boomtown said the merger is subject to gaming approval in Louisiana and consent from company bondholders. Last year, Inglewood-based Hollywood Park said it would exchange each share of Boomtown common stock for 0.
BUSINESS
October 31, 1996 | THOMAS S. MULLIGAN, TIMES STAFF WRITER
Hollywood Park Inc. shareholders, as expected, voted overwhelmingly Wednesday in favor of the company's proposed $160-million acquisition of casino operator Boomtown Inc. The vote came at the Inglewood-based firm's annual meeting here. Randall D.
BUSINESS
June 12, 1997 | MICHAEL A. HILTZIK, TIMES STAFF WRITER
Louisiana gambling regulators have thrown an unexpected monkey wrench into Hollywood Park's proposed $245-million acquisition of Boomtown Inc., a Nevada-based casino and riverboat company. After receiving an anonymous 500-page document containing allegations of wrongdoing against Hollywood Park Chief Executive Randall D. Hubbard and the company, the state Gaming Control Board on Monday postponed until at least June 20 a decision on whether to approve the deal.
BUSINESS
April 11, 1997
San Mateo-based Data Broadcasting Corp., which was formed in 1992 out of Financial News Network's bankruptcy, plans to sell two units. . . . The Nevada Gaming Control Board has recommended approval of Boomtown Inc.'s merger with Inglewood-based Hollywood Park Inc. The deal must still be approved by the Nevada Gaming Commission.
BUSINESS
July 8, 1998 | MELINDA FULMER, SPECIAL TO THE TIMES
Blaming a depressed market for REIT shares, Hollywood Park Inc., which owns the Inglewood racetrack and a group of casinos, said Tuesday that it will not restructure as a real estate investment trust. The New York Stock Exchange-traded corporation had considered becoming a REIT last spring to shelter more money from taxes. REITs are exempt from corporate income tax if they pay out 95% of their earnings in dividends to shareholders.
BUSINESS
June 9, 1993 | TOM PETRUNO
Casino stocks suffered a second day of heavy selling Tuesday as some investors decided that the game of speculating on speculators had reached its upper limits. But don't count these stocks out for long, some Wall Streeters say. Because legalized gaming continues to spread nationwide, this is hardly a fading industry. The only question is how much you should pay for these stocks--and which will be the survivors.
BUSINESS
January 24, 1997 | From Times Wire Services
Two of the largest U.S. thrifts, Golden West Financial Corp. and Glendale Federal Bank, said Thursday that fourth-quarter profits rose, as a recovering California economy spurred borrowing. By meeting or beating Wall Street expectations, thrifts confirmed they have recovered from the late 1980s and early '90s, when high interest rates and regulatory changes wiped out hundreds of savings banks. Oakland-based Golden West, the third-largest thrift company in the U.S.
BUSINESS
October 31, 1996 | THOMAS S. MULLIGAN, TIMES STAFF WRITER
Hollywood Park Inc. shareholders, as expected, voted overwhelmingly Wednesday in favor of the company's proposed $160-million acquisition of casino operator Boomtown Inc. The vote came at the Inglewood-based firm's annual meeting here. Randall D.
BUSINESS
March 21, 1996 | THOMAS S. MULLIGAN, TIMES STAFF WRITER
Hollywood Park Inc., which has long sought a way into the full-fledged casino business, announced Wednesday a $188-million agreement to acquire Boomtown Inc., which owns Western-themed casinos in Las Vegas; Reno; Biloxi, Miss.; and a riverboat casino in New Orleans. Analysts said the deal gets Hollywood Park into casino gambling in Nevada and the South, and it gives debt-strapped Boomtown access to much cheaper financing than it could obtain on its own.
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