Nevada Gold and Muscogee (Creek) Nation Make Announcement
HOUSTON --(AMEX:UWN) : The Muscogee (Creek) Nation ("Nation") and Nevada Gold Tulsa, Inc., a wholly owned subsidiary of Nevada Gold & Casinos, Inc. announced today that they have amicably agreed to discontinue their association regarding the Nation's development of a casino-entertainment project in southern Tulsa, Oklahoma. The Nation will continue with its plans to develop and operate the proposed facility. Nevada Gold Tulsa, Inc. will be paid the sum of $2.2 million for its development activities on behalf of the Nation since 2004. Both parties agreed to waive and release any claims against the other.
Nevada Gold & Casinos CEO Robert Sturges stated: "We have been pleased to assist the Nation with the development of what we expect will be the premier casino entertainment facility in Oklahoma. We wish the Nation the best in the endeavor." Principal Chief A.D. Ellis noted that, "Nevada Gold has been a good supporter of our project and we appreciate its development efforts on our behalf. We simply determined that it was in our best interest to pursue completion of the project on our own."
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. (AMEX:UWN - News) of Houston, Texas is a developer, owner and operator of gaming facilities and lodging entertainment facilities in Colorado, California, and New York. The Company owns a 43% interest in the Isle of Capri-Black Hawk LLC, which owns Isle of Capri-Black Hawk and Colorado Central Station, both of which are in Black Hawk, Colorado. Colorado Grande Casino in Cripple Creek, Colorado is wholly owned and operated by Nevada Gold. The Company owns a 40% interest in the Tioga Downs Racetrack & Vernon Downs Racetrack in New York State and has a management contract for both facilities. The Company also works with Native American tribes in a variety of capacities. Native American projects consist of River Rock Casino in Sonoma County, California, a casino to be built in Pauma Valley, California for the La Jolla Band of Luiseno Indians and a casino to be developed by Buena Vista Development Company, LLC in the city of Ione, California for Buena Vista Rancheria of Me-Wuk Indians. For more information, visit www.nevadagold.com.
Contacts:
Muscogee (Creek) Nation
Chief A.D. Ellis, 918-732-7604
or
Nevada Gold & Casinos, Inc.
Robert B. Sturges, 713-621-2245
or
Integrated Corporate Relations
Don Duffy, 203-682-8200i
