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| 8-K - NEVADA GOLD & CASINOS INC | v181196_8k.htm |
Nevada
Gold Announces Agreement to Purchase Seven Mini-Casinos in
Washington
HOUSTON,
April 15, 2010 (GLOBE NEWSWIRE) -- Nevada Gold & Casinos, Inc. (NYSE
Amex:UWN) announced today that the Company has signed an agreement to purchase
seven mini-casinos in Washington state. The details of the transaction will be
disclosed upon the filing of documents seeking court approval for the
sale.
"We are
extremely excited about the opportunity to purchase seven additional
mini-casinos in Washington and feel that we can use our experience and
infrastructure from the three operations we recently acquired in Washington, to
enhance and efficiently operate these properties," said Robert Sturges, CEO of
Nevada Gold. "We are not able to disclose financial terms of the deal, as they
are still subject to court approval, but the purchase price is well within the
target multiple range we previously disclosed. When and if the transaction is
approved, we will be operating 128 gaming tables in the state of Washington. We
look forward to updating you on this transaction in seven to ten days, which is
the anticipated filing date with the Court."
Jim Kohn,
CFO, will be presenting at Telsey Advisory Group's 2nd Annual Consumer
Conference today at the Westin Times Square in New York City. The presentation
will begin at 2:05 PM Eastern Time. The investor presentation will be webcast
live from the investor relations portion of the Company's website at www.nevadagold.com.
Forward-Looking
Statements
This
release contains forward-looking statements, which are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995. We
use words such as "anticipate," "believe," "expect," "future," "intend," "plan,"
and similar expressions to identify forward-looking statements. Forward-looking
statements include, without limitation, our ability to increase income streams,
to grow revenue and earnings, and to obtain additional Indian gaming and other
projects. These statements are only predictions and are subject to certain
risks, uncertainties and assumptions, which are identified and described in the
Company's public filings with the Securities and Exchange
Commission.
About
Nevada Gold
Nevada
Gold & Casinos, Inc. (NYSE Amex:UWN) of Houston, Texas is a developer, owner
and operator of gaming facilities in Colorado and Washington. The Colorado
Grande Casino in Cripple Creek, Colorado, the Crazy Moose Casino in Pasco,
Washington, the Coyote Bob's Roadhouse Casino in Kennewick, Washington and the
Crazy Moose Casino in Mountlake Terrace, Washington are wholly owned and
operated by Nevada Gold. The Company has an interest in Buena Vista Development
Company, LLC which is working with the Buena Vista Rancheria of Me-Wuk Indians
on a Native American casino project to be developed in the city of Ione,
California. For more information, visit www.nevadagold.com.
The
Nevada Gold & Casinos, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=1552
CONTACT: Nevada
Gold & Casinos, Inc.
Robert B.
Sturges, CEO
Jim
Kohn, CFO
(713)
621-2245
ICR
Don
Duffy
(203)
682-8200