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Stocks J / Jackpot Enterprises, Inc.
|Subject: Two senior executives named||Date: 6/23/2000 3:39 PM|
|Author: Kcourt||Number: 10 of 12|
Jackpot, to be named J Net Enterprises, Inc. subject to shareholder approval, announces the appointment of two senior executives. LAS VEGAS, Jun 23, 2000 (BUSINESS WIRE) (Mark W. Hobbs President and Chief Operating Officer; and Steven L. Korby Executive Vice President and Chief Financial Officer)
Jackpot Enterprises, Inc. (J), which is being renamed J Net Enterprises, Inc. pending shareholder approval, today announced the appointment of two senior executives. Mark W. Hobbs, 44, has been named President and Chief Operating Officer. J Net also announced that Steven L. Korby, 54, has been named Executive
Vice President and Chief Financial Officer.
Mr. Hobbs joins J Net from Mariner Investment Group where he has been a Partner for the past five years. Prior to his tenure at Mariner, Hobbs served as President of Rosewood Financial, Inc. for nine years, where he managed the public and private equity investments of the Caroline Hunt Trust Estate.
Mr. Korby has an extensive background as the chief financial officer for both public and private companies, including Greyhound Lines, Inc. He has experience in mergers and acquisitions, start-up and early stage companies, capital raising
in the public and private markets and the application of technology to solve business problems and enhance productivity.
"The addition of Mark and Steve to our management team represents a significant
enhancement to the business model we outlined for J Net Enterprises in March," said Allan Tessler, Chairman and Chief Executive Officer of J Net Enterprises. "As President and Chief Operating Officer, Mark will be oversee day-to-day
operations of the Company."
Jackpot Enterprises, Inc. recently announced a series of actions to leverage its assets, cash position and online and offline expertise to invest in and incubate innovative, Internet-related business-to-business and e-service enterprises and to support the migration of traditional businesses to the Internet. As part of this shift, the Company has established J Net Ventures I fund focused on Internet-related investments. The Company is currently in the process of disposing of its gaming operations.
For more information on J Net Enterprises, please visit www.jnettech.com.
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