| Ticker: BETM | 675 Grier Drive | |
| Exchange: NASDAQ-National Market | Las Vegas, Nevada 89119 | |
| Industry: Service | (702) 735-0101 |
| Type of Shares: | Common Shares | Filing Date: | 12/13/95 | |
| U.S. Shares: | 2,250,000 | Offer Date: | 5/10/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $5.50 - $6.50 | |
| Primary Shares: | 2,250,000 | Offer Price: | $6.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.48 | |
| Offering Amount: | $13,500,000 | Selling: | $0.29 | |
| Expenses: | $607,482 | Reallowance: | ||
| Shares Out After: | 7,500,000 |
| Manager | Tier | Phone |
| Equity Securities Trading Co, Inc. | Lead Manager | (612) 338-8901 |
| Paradise Valley Securities, Inc. | Co-manager | (602) 953-7980 |
| Auditor: Arthur Andersen | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 1/31/96 | 1/31/96 | ||||
| Revenue: | $5.58 | Assets: | $6.24 | ||
| Net Income: | $0.52 | Liabilities: | $3.15 | ||
| EPS: | $0.10 | Equity: | $3.09 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company owns and operates Leroy's Horse and Sports Place, the licensed bookmaker with largest number of sports book locations in the State of Nevada. A sports wagering facility or "sports book" is a gambling establishment that sets odds and point spreads and accepts bets on the outcome of sporting events, such as football, basketball, baseball and hockey games. The company also owns and operates Leroy's Hotel Corporation and owns 50% of B-P Gaming Corporation. The Hotel Operator currently owns a 50% interest in 150-room hotel and restaurant located at 3111 W. Tropicana Avenue, Las Vegas, Nevada. The hotel complex is located approximately one-half mile west of the Las Vegas Strip and includes a 5,600 square foot casino operated by the Casino Operator. Utilizing its computer and communications expertise and equipment located in its Las Vegas, Nevada headquarters, Leroy's operates 35 sports books, located at its original facility and 34 separate locations in major metropolitan areas. |
| Use of Proceeds |
| Proceeds from the offering will be to acquire the remaining 50% interest in the Hotel/Casino, to renovate and convert the Hotel/Casino into a sports theme hotel/casino, to renovate existing sports and race book locations, to support the company's growth and expansion strategy and for general corporate purposes. |
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