Nevada Gold Announces Agreement to Purchase Seven Mini-Casinos in Washington
HOUSTON, Apr 15, 2010 (GlobeNewswire via COMTEX) -- Nevada Gold & Casinos, Inc.
(UWN 0.97, +0.03, +3.19%) 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
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
Return to Washington Casinos.