Lawrence, December 17th 2008
A 24-year-old man, Israel Rodriguez, who shot himself in the head during a game of Russian roulette remained in critical condition at the Boston Medical Center last night.
Rodriguez was visiting with friends at a home on East Laurel Street early Monday morning when he pulled the rigger on a .38 revolver after emptying of four rounds of ammunition then putting it to his head, police said.
Australia’s TABCORP has shelved plans to spin off its casino business to increase its valuation and attract takeover bids, amid fears the turmoil on the share markets and the high cost of debt will hinder a competitive auction.
The board was reported to have been briefedby its investment banking adviser, UBS, several weeks ago about a proposal to split Tabcorp into separate casino and gaming-wagering companies, but has been left unimpressed.
The demerger was suggested as a way to lift the market value of its casinos, including Sydney’s Star City, by distancing them from Tabcorp’s challenged poker machines and wagering operations. A focused casino business, valued at more than $4 billion, would also be more attractive for takeover offers from possible suitors like James Packer’s Crown, the argument went. But with share markets posting their worst performance in 26 years and the cost of debt making large deals prohibitive, sources close to Tabcorp said the move could have left the company with Mr Packer as the only likely bidder. He has long coveted its Sydney casino.
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