Black Hawk Gaming merging

BLACK HAWK ? Gameco Inc., a Parma, Ohio-based gaming company, is acquiring Black Hawk Gaming and Development Co. Inc. for $12 per share of outstanding stock (Nasdaq: BHWK).

Black Hawk Gaming, which owns and operates Gilpin Hotel Casino in Black Hawk and 75 percent of Black Hawk’s The Lodge Casino, will become a wholly owned subsidiary of Gameco. The merger is pending regulatory and stockholder approval and is expected to close in the fourth quarter.

Gameco is controlled by Jeffrey P. Jacobs, chairman and chief executive of Black Hawk Gaming. Jacobs also owns some common stock in Black Hawk Gaming. The acquisition…