IGT Announces New $1 billion Share Repurchase Authorization and $400 million Accelerated Stock Buyback

International Game Technology (NYSE: IGT), a global leader in driving technology innovations in the gaming industry, today announced that its Board of Directors has authorized a new share repurchase program of up to $1 billion of the Company's outstanding common stock.

Additionally, the Company has entered into an accelerated stock buyback agreement with Goldman, Sachs & Co., under which it will repurchase approximately $400 million of its common stock.  The accelerated stock buyback will be conducted as the first part of the Company's new $1 billion share repurchase authorization.  The remaining $600 million is currently anticipated to be utilized over the next 3 to 4 years.

Read more: International Game Technology ( IGT )

Caesars Entertainment Corporation Publicly Lists Its Shares

Caesars Entertainment Corporation ("Caesars" or the "Company") announced today that its common stock was approved for listing on the Nasdaq Global Select Market under the symbol "CZR" and its offering of 1,811,313 shares of its common stock was priced at $9.00.  Gross proceeds from this offering will be approximately $16 million before deducting the underwriting discounts and commissions and expenses.

Caesars also granted to the underwriters a 30-day option to purchase up to 271,697 additional shares of its common stock at the initial price less underwriting discounts and commissions.

Read more: Caesars Entertainment Corporation ( CZR )

POINT ROBERTS, WA - June 22, 2011 - InvestorIdeas.com is a leader in investor stock research including China stocks and gaming stocks, issues a trading alert for Asia Entertainment & Resources (NASDAQ:AERL ). The stock is trading up at $6.56, up 0.95 (16.93%) 11:07AM EDT, with a morning high of $6.75 following news of a dividend and share repurchase program.

 

News:
Asia Entertainment & Resources Ltd. Announces Regular Semi-Annual Cash Dividend and Share Repurchase Program

Read more: China/ Gaming Stocks Trading Alert; Asia Entertainment & Resources (NASDAQ:AERL) Trading up over 16%

Isle of Capri Casinos, Inc. Announces Fiscal 2010 Fourth Quarter and Year End Results

Isle of Capri Casinos, Inc. (Nasdaq: ISLE) (the "Company") today reported financial results for the fourth quarter and fiscal year ended April 25, 2010, and other Company-related news.

In making the announcement, the Company pointed to a series of accomplishments during the quarter and past fiscal year. Specifically, the Company:

-- Nears completion of the acquisition of Rainbow Casino in Vicksburg, Mississippi;
-- Reduced property-level operating expenses by $12 million in fiscal year 2010, totaling over $32 million in cost reductions over the past two fiscal years;
-- Increased See. Say. Smile. customer satisfaction scores to 90%; an increase of 300 bps from 60% two years ago; and
-- Amended the leverage and interest coverage covenants of its senior credit facility.

Read more: Isle of Capri Casinos Inc ( ISLE )

Yuri Itkis Gaming Trust Proposes to Acquire Remaining Public Stake in FortuNet, Proposed Price of $1.70 Cash Per Share

The Yuri Itkis Gaming Trust of 1993 (the "Trust") announced today that it intends to make a tender offer for all of the outstanding shares of Common Stock of FortuNet, Inc. (Nasdaq:FNET) not already owned by the Trust for $1.70 per share in cash. The offer price represents a premium of approximately 34% over the closing price of the shares on November 20, 2009, and a premium of approximately 28% above the average closing price of the shares for the 20 trading days immediately preceding November 20, 2009. Assuming the successful completion of the tender offer, the Trust intends to acquire the remaining shares not already owned by it through a "short form" cash merger at the same per share cash price paid in the tender offer.

Read more: FortuNet Inc ( FNET )