Attached files
| file | filename |
|---|---|
| 8-K - PENINSULA GAMING 8-K - PENINSULA GAMING CORP. | form8k.htm |
EXHIBIT
99.1
PRESS
RELEASE
For
Immediate Release
October
29, 2009
PENINSULA
GAMING ACQUIRES AMELIA BELLE CASINO
Dubuque,
Iowa - October 29, 2009 - Peninsula Gaming, LLC announced today that it
consummated the acquisition of the Amelia Belle Casino, located in Amelia,
Louisiana, on October 22, 2009 from Columbia Properties New Orleans,
L.L.C.
The
Amelia Belle Casino has over 800 slot machines and a wide variety of table games
and is located just 90 miles from Peninsula Gaming's Evangeline Downs Racetrack
and Casino.
"We are
excited to close on this acquisition and welcome the Amelia Belle Casino to the
Peninsula Gaming family," said Brent Stevens, Chief Executive Officer of
Peninsula Gaming, LLC. "Peninsula has been operating Evangeline Downs in
south-central Louisiana for five years and Amelia Belle fits perfectly into our
growth strategy. We have an attractive opportunity to improve performance by
bringing our proven and disciplined management team to the property and by
creating synergies with our existing property in the market. The purchase price
multiple fits our acquisition criteria and we're confident it will generate
attractive long-term returns."
Jefferies
& Company, Inc. served as the financial advisor to the Company and White
& Case LLP served as legal advisor to the Company in connection with the
transaction. Regal Capital Advisors, LLC served as the financial advisor to
Columbia Properties New Orleans, L.L.C. and Katz, Teller, Brant & Hild
served as legal advisor to Columbia Properties New Orleans, L.L.C. in connection
with the transaction.
About
Peninsula Gaming
Peninsula
Gaming, through its subsidiaries, engages in the ownership and operation of
casino and off-track betting parlors. It owns and operates the Diamond Jo
riverboat casino in Dubuque, Iowa; the Evangeline Downs Racetrack and Casino in
St. Landry Parish, Louisiana; four off-track betting parlors in Port Allen, New
Iberia, Henderson, and Eunice, Louisiana; and the Diamond Jo casino in Worth
County, Iowa. The Company was founded in 1999 and is based in Dubuque, Iowa. The
Company is a subsidiary of Peninsula Gaming Partners, LLC.
Forward
Looking Statements
This
press release contains forward-looking statements that are made pursuant to the
Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements involve a number of risks, uncertainties or other
factors beyond the Company's control, which may cause material differences in
actual results, performance or other expectations. These factors include, but
are not limited to general economic conditions, competition, risks associated
with new ventures, government regulation, including, licensure requirements,
legalization of gaming, availability of financing on commercially reasonable
terms, changes in interest rates, future terrorist acts, and other factors
detailed in the reports filed by the Company with the Securities and Exchange
Commission. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date thereof. The Company
assumes no obligation to update such information.
Contact:
Peninsula
Gaming, LLC
301 Bell Street
Dubuque, Iowa 52001
Natalie Schramm, 563-690-4977