At last confirming a season of rumors, Hollywood Casino Corp. announced last Friday it has been considering strategic alternatives. The Dallas-based casino operator consistently denied speculation that it was trying to sell itself throughout the spring, when its stock price hit as high as $17.50 per share on April 23 on takeout rumors. Board members William Pratt and John Pratt, who own 34% of the stock, said they wanted the company sold on Feb. 19. During the following months, a banker confirmed with Mergers & Acquisitions Report that a book was out on the company, and analysts widely acknowledged that Hollywood was on the block.
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