Jacobs Entertainment Revises Offer to Combine Mountaineer Gaming with JEI

Jacobs Entertainment has reportedly revised its previous offer to combine MNTG (Mountaineer Gaming) and JEI (Jacobs Entertainment). JEI is the owner of Colonial Downs Racetrack.

According to an email from JEI CEO Jeff Jacobs to fellow JEI associates, JEI has offered MNTG $5.69 per share, which is about 10% higher than an offer previously submitted by Eldorado Resorts. On September 9th, MTR Gaming Group, Inc. and Eldorado Resorts, LLC announced that they had entered into a definitive agreement under which MTR Gaming Group would combine with the parent company of Eldorado Resorts, LLC in a stock merger.

According to Jacobs, “this will not have an immediate effect on anything in our company or what you do on a daily basis.”

Jacobs also noted: “I will own a significant position in the combined company and will retain significant influence on the combined company. Should this process go forward, it will take at least six months to be completed and will result in a much stronger and more diversified JEI.”