HOUSTON, Oct. 10, 2005 (PRIMEZONE) -- PitBOSS Entertainment, Inc. (OTCBB:PBSS) today announced the company has completed a controlling interest asset and shareholder acquisition with AAA Builders & Partnership and trust represented by Michael Lieberman Esq. for controlling interest in a Colorado Casino.
PitBOSS Entertainment, Inc. will begin its landmark land-based casino birth into the Colorado gaming market with other successful casino operations, such as Isle of Capri casino, Riviera Casino and Mardi Gras casino. The company plans to brand the new venture under the Lucky Summit name.
Gambling Magazine (gamblingmagazine.com) reported in November 2000:
"Ten years after winning approval, limited-stakes gambling in Colorado has become a $10 billion-per-year game. The enormous amount of money being wagered in Black Hawk, Central City and Cripple Creek has surpassed everyone's wildest expectations, state gaming regulators say. And the potential for huge casino profits is transforming the Colorado casino business from small local companies to giant corporate players. Flocking to giant new casinos such as Riviera, Mardi Gras and Isle of Capri, Colorado gamblers poured $10.3 billion into the state's 14,500 slot machines in the fiscal year that ended June 30. They purchased another $90.5 million in chips for blackjack and poker games. After jackpots and payouts and other expenses, the casinos pocketed a handsome $595 million in profits in the same fiscal year."
For current Colorado State casino revenues, visit www.revenue.state.co.us/Gaming/wrap.asp?incl=casinos
"Our main goal will be to rework the casino to a Las Vegas look with Texas themed flair, in our opinion most Colorado-based casinos have concentrated on slot games, our company's goal will be to focus on table games with an emphasis on Texas Hold'EM and great Texas BBQ," said John D. Jarvis. "While embarking on our land-based casino introduction we hope this will be the first of many acquisitions to be made in the casino industry for our company and shareholders."
Part of the company's process to ensure the success of its new casino venture roll-out plan is to infuse a portion of its $25 million in television, radio and print advertising assets.
More information on this and other PitBOSS Entertainment Inc. acquisitions will be announced as information is available.
About PitBOSS Entertainment, Inc.
PitBOSS Entertainment, Inc. (OTCBB:PBSS) is a diversified entertainment company with an impressive asset base consisting of both hard assets as well as media properties used to promote and brand such assets. The company also assists outside companies, both public and private, with an affordable suite of media and branding services.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief, or current expectations of PitBOSS Entertainment, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events, or changes to future operating results.
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