HOUSTON, Dec. 17, 2008 (GLOBE NEWSWIRE) -- Nevada Gold & Casinos, Inc. (NYSE Alternext US:UWN) today announced that Cripple Creek overwhelmingly approved the amendment to authorize an increase in the bet limits, allow additional types of table games, authorize 24-hour gaming instead of the current 18-hours and establish a fixed tax rate.
In August the Cripple Creek, Black Hawk and Central City communities signed a joint resolution in support of the gaming enhancement initiative. In November, Colorado passed a ballot initiative to amend the constitution to authorize these changes.
Robert Sturges, Chief Executive Officer of Nevada Gold, stated, "Despite the challenges that the Colorado Grande Casino has faced, it has continued to exceed its fair share of coin in and win in the market and maintain a positive EBITDA. The approval of this amendment in addition to the closure of a competitor in the market will further help us to continue our growth in Cripple Creek."
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 & Casinos
Nevada Gold & Casinos, Inc. (NYSE Alternext US:UWN) of Houston, Texas is a developer, owner and operator of a gaming facility and restaurant in Colorado. Colorado Grande Casino in Cripple Creek, Colorado is wholly owned and operated by Nevada Gold. The Company also has a management contract with Oceans Casino Cruises, Inc., the parent company of SunCruz Casinos. For more information, visit www.nevadagold.com.
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