PETOSKEY, Mich., March 22, 2012 (GLOBE NEWSWIRE) -- Rotate Black, Inc. (ROBK.PK) reported last week that its affiliate Rotate Black MS, LLC, has finalized debt and equity financing commitments necessary for its $77mm Gulfport, MS casino hotel project. These commitments were necessary in order to file an application with the Mississippi Gaming Commission for Approval to Proceed with Development. Rotate Black's CFO, Jeff Bacigalupi, stated "We're thrilled to have completed the financing package for this project and just as pleased by the caliber of the financing partners."
The casino hotel, when completed, will include a land-based 70,000 square foot gaming and entertainment facility, 100 room hotel, buffet, steakhouse, café, feature bar and a lounge overlooking the newly renovated marina in the city's small craft harbor. Gulf Coast gaming veteran and Rotate Black MS CEO, Dual Cooper, stated, "We've designed a fantastic facility, hired the best general contractor in Yates Anderson and when open we'll deliver a world-class gaming and entertainment experience."
Rotate Black's Gulfport, MS casino will be located on approximately nine and a half acres of land at the intersection of Highway 49 and US 90 and overlooking the Gulf of Mexico. The site will offer direct access from I-10 via the Central Harrison County Connector Highway currently under construction by the State of Mississippi. The site is adjacent to downtown Gulfport, the city's small craft harbor and the newly renovated Joseph T. Jones Memorial Park – which is the largest public park on the Gulf Coast and is in the final stage of a three stage restoration including green spaces, gardens, pavilions, water features, as well as art and entertainment facilities.
About Rotate Black, Inc. Rotate Black, Inc. (ROBK.PK) is a premier development and management company of global 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
Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such, speak only as of the date made. Rotate Black, Inc. disclaims any obligation to update the forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date stated, or if no date is stated, as of the date of this press release.