VendingData will sell stake to Elixir Group

VendingData Corp., a Las Vegas-based developer, manufacturer and distributor of gambling industry security products and services, on Wednesday announced a deal to give Elixir Group Ltd. 75 percent ownership of the company. VendingData shares rose 16.62 percent to reach a 52-week high on the news.

Elixir Group is a division of Hong Kong-based Melco International Development Ltd. Financial terms of the securities purchase and product participation agreement weren’t disclosed.

VendingData’s name will change to Elixir Gaming Technologies under the deal, which is expected to close in the third quarter.

Shares of VendingData gained 54 cents to close at $3.79 on the American Stock Exchange. The stock had previously traded in a range of $1.78 to $3.45 over the past year.

Shuffle Master facing another fraud lawsuit

Another securities fraud lawsuit was filed against Shuffle Master on Tuesday, accusing the Las Vegas-based company of stock manipulation and fraudulent financial reporting.

Two recent lawsuits name the table games manufacturer, Chief Executive Officer Mark Yoseloff and Chief Financial Officer Richard Baldwin as defendants. Shuffle Master General Counsel Jerry Smith wasn’t available Wednesday to comment on the latest lawsuit.

Both civil actions stem from a March 12 earnings restatement based on a Oct. 31 transaction that was misstated as a sale. The June 1 investor lawsuit, filed by Exton, Pa., resident Joseph Stocke, alleges the transaction was part of an elaborate scheme to avoid paying U.S. taxes by shipping profits made here to an Austrian subsidiary.

The latest lawsuit, filed by Richard Armistead Jr., paints a picture of insider stock manipulation combined with a failure to disseminate truthful information about the company’s value.

Since early June, several class action lawsuits have been filed against Shuffle Master.

EBay spends less on ads with Google

EBay, the world’s largest online auctioneer, this week reduced advertising spending with Google as the companies sparred over a planned promotion at an eBay sellers’ conference in Boston.

Google, operator of the world’s most popular search engine, on Wednesday canceled the event that was intended to protest eBay’s ban of its Checkout online-payment service, a rival to EBay’s more popular PayPal unit.

EBay cut spending on Google’s AdWords program in the United States, which places advertisements near search results and plans to spend more with Yahoo! Inc. and Microsoft Corp. to increase customer traffic. NEW YORK

Analyst’s comment lifts Citadel Broadcasting

Shares of Las Vegas-based radio broadcaster Citadel Broadcasting Corp. rose Wednesday after an analyst said there may be a near-term opportunity to buy shares.

Walt Disney Co. on Tuesday announced the completion of the sale of its ABC Radio unit to Citadel for nearly $2 billion in cash and stock. The sale includes 22 large-market radio stations.

JPMorgan analyst John Blackledge said there may be a may be a near-term buying opportunity in Citadel shares if there is further selling pressure from Disney shareholders.

Citadel stock rose 33 cents, or 3.8 percent, or 5.68 percent, Wednesday to close at $6.14 in trading on the New York Stock Exchange.


Sources say IHOP will bid for Applebee’s

IHOP Corp., the biggest U.S. pancake-house chain, offered to buy Applebee’s International, sources told Bloomberg News.

The bid was for more than $2 billion, a person with direct knowledge of the offer said. There may be other bidders, said the people, who declined to be identified because the proposal isn’t public. Applebee’s stock-market value is about $1.92 billion.

IHOP, which has about 1,300 locations and half the market value of Applebee’s, said in February it may acquire a chain that isn’t a competitor. Applebee’s, with 1,900 casual-dining restaurants, began seeking a buyer after shareholder Breeden Capital Management nominated four board candidates in December and called the stock’s performance a “disaster.”

Applebee’s stock fell 4.1 percent in the three years that ended Feb. 12, the day before it said it may sell itself. Darden Restaurants, owner of the Olive Garden and Red Lobster chains, rose 86 percent during that time; California Pizza Kitchen, with about 200 restaurants, almost doubled.


Bond prices snap weeklong skid

U.S. Treasurys prices broke their weeklong losing streak Wednesday, as rising yields finally tempted buyers to step back in to the government bond market.

At 5 p.m. EDT, the 10-year Treasury note was up $6.56 per $1,000 in face value, or 0.66 points, from its level at 5 p.m. Tuesday. Its yield, which moves in the opposite direction, fell to 5.21 percent from 5.30 percent.

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