GAMING

Casino Companies Announce Merger Plans: Bahamas-based Sun International Hotels Ltd. and Griffin Gaming & Entertainment Inc. signed a definitive stock-for-stock agreement to merge Griffin Gaming with and into a wholly owned Sun International unit in a deal that would be worth about $210 million. Griffin Gaming Chairman Merv Griffin, owner of 25% of the company’s stock, has agreed to the deal. Griffin Gaming owns Resorts International, the first casino to operate in Atlantic City. It has since changed its name to Merv Griffin’s Resorts Casino Hotel. Sun International is the company of South African casino developer Sol Kerzner. The deal is Sun’s first venture into the Atlantic City gambling market. Griffin stock last traded at $12.25 and Sun International’s stock was $51.75 before shares of both companies were halted pending the announcement.