Pinnacle Entertainment Inc. (NYSE:PNK) announced that it has entered into an agreement to acquire River Downs Racetrack for $45 million, subject to approval from the Ohio State Racing Commission. Located in southeast Cincinnati, Ohio, River Downs is located directly off of Interstate 275 and adjacent to Riverbend Music Center, along the Ohio River. The proposed purchase, which will be funded from cash on hand, includes a total of approximately 155 acres of land, 35 of which are currently undeveloped. The transaction is anticipated to close by the end of the first quarter of 2011.
Pinnacle Entertainment, Inc. develops, owns, and operates casinos, and related hospitality and entertainment facilities in the United States and internationally. As of December 31, 2009, the company operated seven casino destinations in the United States, which include L�Auberge du Lac in Lake Charles, Louisiana; Boomtown New Orleans in New Orleans, Louisiana; Belterra Casino Resort near Vevay, Indiana; Boomtown Bossier City in Bossier City, Louisiana; Boomtown Reno near Reno, Nevada; and The President Casino near the Lumiere Place complex. It also operates Casino Magic Argentina located in Neuquen, Argentina; and various smaller casinos in the Patagonia region of Argentina. The company was formerly known as Hollywood Park, Inc. and changed its name to Pinnacle Entertainment, Inc. in February 2000. Pinnacle Entertainment was founded in 1935 and is based in Las Vegas, Nevada.
Power3 Medical Products, Inc. (OTC.BB:PWRM), a leading proteomics company focused on the development of innovative diagnostic tests in the fields of cancer and neurodegenerative diseases, announced that it delivered four poster presentations at the 2010 International Conference on Alzheimer’s Disease (ICAD) in Honolulu, Hawaii. These presentations discussed NuroPro, Power3′s diagnostic test, and focused on Power3′s Alzheimer’s disease blood serum biomarkers, test and clinical validation trials.
“We are pleased that our blood tests specifically diagnose Alzheimer’s in patients, both pre- and post-treatment,” said Helen R. Park, MS, Chief Executive Officer of Power3, “and that our scientific collaborators, Dr. Marwan Sabbagh, Medical and Scientific Director of the Banner Sun Health Medical Research Institute, and Dr. Lourdes R. Bosquez, President of the Woodlands Behavioral Institute, Inc., presented along with us at the meeting in Hawaii.”
“We are within striking distance of realizing an Alzheimer’s clinical diagnostic tool which I hope will lead to a greater understanding of the disease and buoy the pace of future therapeutic interventions,” added Marwan Sabbagh MD, Medical and Scientific Director of Banner Sun Health Medical Research Institute.
Power3 recently filed several patent applications for its NuroPro technology that are currently pending. Power3 also has a world-wide exclusive license from the Baylor College of Medicine in Houston, Texas. To date, Power3 has given 9 presentations on NuroPro at international scientific meetings in the United States, Europe and China, and has published 6 articles in peer-reviewed scientific journals on the subject. Power3 intends to publish these latest findings as well.
RailAmerica, Inc. (NYSE:RA) announced the addition of Donald D. Redfearn to its management team as Senior Vice President. Redfearn will oversee the human resources, information technology, real estate and capital spending areas of the company.Redfearn was formerly President of RailAmerica, Inc. (NYSE:RA – News), one of the world’s largest short line and regional railroad holding companies. He was with RailAmerica since its inception in 1986 and served as Executive Vice President and in various senior management positions until 2004, when he was named President. While at RailAmerica Redfearn was instrumental in growing the company from one railroad to the world’s largest short line railroad company with over 50 railroads and more than $500 million in revenue. In 2007, he retired from RailAmerica after completing the sale of the company for $1.2 billion. Redfearn also served as a director of RailAmerica from 1986 through 2007.
RailAmerica, Inc. engages in the ownership and operation of short line and regional freight railroads in North America. As of December 31, 2009, it operated a portfolio of 40 individual railroads with approximately 7,400 miles of track in 27 U.S. states and 3 Canadian provinces. The company provides rail freight transportation services for a range of products, such as farm and food products, lumber and forest products, paper and paper products, metals, chemicals, and coal products, as well as offers ancillary rail services. The company was incorporated in 1992 and is headquartered in Jacksonville, Florida.
American Video Teleconferencing Corp. (Pink Sheets:AVOT) is pleased to announce that it has hired a French speaking geologist to search the archives of the Quebec Department of Mines for Rare Earths showings not on a current computer file. The company believes the rare earths industry is where it wants to maintain a very strong focus and is looking to expand its holdings. As neither the Federal nor Quebec Governments have carried out any air borne surveys in this area, the company will seek a contractor to do an air borne Mag-EM radiometric survey. This survey will cover its present holdings and the immediate surrounding area looking for future acquisitions. We are pleased to be working in the Province of Quebec as it is rated the number one jurisdiction in the world to carry out mineral exploration. The Quebec Government gives a rebate up to 45% for property expenditures.
Presently the company is in the final stage of negotiations with Kondor Gold Pyt. in Australia.
The company will aggressively continue to search world-wide for opportunities in Precious, Base and Rare Earths metal projects.
Valley National Bancorp (NYSE:VLY) announced that a common stock cash dividend of $0.18 per share will be paid January 3, 2011 to shareholders of record on December 15, 2010. The $0.18 per share dividend is unchanged as compared to the previous quarterly cash dividend. The cash dividend should not be used as an indicator of future dividends to Valley’s stockholders.
Valley National Bancorp operates as the bank holding company for Valley National Bank that provides a range of commercial, retail, trust, and investment services. It offers various services, including acceptance of demand, savings, and time deposits; provision of commercial, real estate, and consumer loans; and provision of equipment leasing, personal and corporate trust, and pension and fiduciary services. The company�s Consumer Lending segment provides residential mortgages, home equity loans, and automobile loans. Valleys Commercial Lending segment provides floating rate and adjustable rate commercial and industrial loans, as well as fixed rate owner occupied and commercial real estate loans.
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