PETOSKEY, Mich., Nov. 17, 2011 (GLOBE NEWSWIRE) -- Rotate Black Inc., (OTCBB:ROBK), announced today that on November 11, 2011, it had completed its submission of all necessary documentation to the Alberta Gaming and Liquor Commission ("AGLC") regarding Rotate Black's proposed casino and entertainment destination on the Louis Bull Indian Reserve near Edmonton, Canada. "This is the final step before having a formal meeting with the AGLC. We're extremely excited about this opportunity in Alberta and looking forward to working with the Provincial government and with the Louis Bull Tribe to create a successful casino and entertainment destination," Dual Cooper, President of Rotate Black commented. Rotate Black is now awaiting the scheduling of its final meeting with the AGLC which, the company anticipates sometime within the next 60 days. Earlier in 2011, Rotate Black entered into a management agreement with the Louis Bull Tribe for this casino and entertainment destination.
The Bear Hills Casino will be located on Highway 2 off the northbound off-ramp approximately 25 miles south of Edmonton, Alberta and on existing tribal lands adjacent to the Tribe's Bear Hills Truck Stop. The stretch of Highway 2, otherwise known as the Queen Elizabeth II Highway or 'QE2 Highway', between Calgary and Edmonton is one of the most heavily used highways in the Province and will provide easy access to the site. Edmonton's economy is one of the most dynamic economies in North America, buoyed to a great degree by the oil-sands industry. In 2010, the Edmonton metropolitan population stood at 1,176,300 and was up 1.7% from 2009. Edmonton's current unemployment rate stands at only 5.6% and the Conference Board of Canada estimates put Edmonton's per capita personal income 20% higher than the national average.
About Rotate Black, Inc.
Rotate Black is a premier development and management company of resort and casino properties. The company makes investments specifically targeted towards the gaming industry, seeking to maximize total return from capital appreciation and income. The management and Board of Directors have extensive experience in successfully developing and managing resort properties.
Forward-Looking Statement
Certain statements contained in this release regarding matters that are not historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward-looking statements, including, but not limited to whether the Alberta Gaming and Liquor Commission will provide the Louis Bull Tribe and/or Rotate Black, Inc. with all necessary approvals to proceed with the development and management of the proposed casino and entertainment destination and whether the casino will meet budgeted projections. Forward-looking statements speak only as of the date of this release, and we do not undertake any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise.