BLACK HAWK, CO Black Hawk Gaming & Development Company, owner and operator of the Gilpin Hotel Casino here, the Gold Dust West Casino in Reno, NV, and the Lodge Casino at Black Hawk, reported that its largest shareholder has offered to acquire the company.
Jeffrey Jacobs, chairman/CEO of Black Hawk, owns approximately one-third of the company s outstanding stock. Jacobs proposed a transaction to purchase all of the remaining shares for a cash price of $11 per share.
The Board will consider Jacob s offer and appointed a special committee to analyze and negotiate the deal. If a transaction with Jacobs occurs, it is anticipated to close by the end of the summer. (2/27/01)