Lottery Venture: Excalibur Holding Corp. in Irvine...

Lottery Venture: Excalibur Holding Corp. in Irvine said Monday that it has formed a joint venture with Jackpot Enterprises Inc. of Las Vegas to own and operate video lottery machines at a West Virginia thoroughbred racetrack and entertainment complex. Jackpot Enterprises will invest about $10 million in Excalibur’s Mountaineer Park. In turn, Jackpot will get an unspecified number of shares of Excalibur and the right of first refusal on any of Excalibur’s future gaming operations at the park. The joint venture must be approved by the West Virginia Lottery Commission. Excalibur acquired the park in December.