Nevada Gold Announces Expansion Plans At Colorado Grande Casino
HOUSTON, April 9, 2009 -- Nevada Gold & Casinos, Inc. (NYSE Amex:UWN) today announced plans to expand the Colorado Grande Casino in Cripple Creek, Colorado. The Company is planning to enhance the facility by expanding the casino by 1,300 square feet. The expansion will allow the Colorado Grande Casino to take advantage of the recently passed amendment which authorizes an increase in the bet limits, allows additional types of table games, authorizes 24-hour gaming instead of the current 18-hours and establishes a fixed tax rate. The Colorado Grande Casino plans to add four or five table games, including blackjack and roulette, more slot machines, additional food and beverage options and an additional street level entrance.
"We are very eager to begin the expansion at Colorado Grande, based on the recent voter approval to amend Colorado's gaming regulations. We feel that our enhanced facility will draw more customers, add to the overall experience at that location, and improve profits. Eric Rose, Colorado Grande's General Manger, and the staff of the Colorado Grande will oversee the expansion and integration with the existing facility. We plan to have a grand opening of our expansion shortly after the anticipated implementation of the new gaming regulations on July 2, 2009," said Robert Sturges, CEO of Nevada Gold.
The expansion will be completed by Murphy Constructors of Colorado Springs and Colorado Designs and Interior is the architect responsible for the overall design. The Senger Design Group is designing the interior. The contract with Murphy Constructors, signed today, is approximately $370,000, which represents more than half of the total estimated cost for the expansion. The expansion will be funded from cash on hand.
The Colorado Grande-Cripple Creek Casino is a 6,200-square-foot facility located near the center of the Cripple Creek market. The property currently consists of approximately 200 slot machines, five guest rooms and 44 parking spaces as well as the number one restaurant in town, Maggie's.
About Nevada Gold
Nevada Gold & Casinos, Inc. (NYSE Amex:UWN) of Houston, Texas is a developer, owner and operator of gaming facilities in Colorado and the southeastern United States. The Colorado Grande Casino in Cripple Creek, Colorado is wholly owned and operated by Nevada Gold. The Company has an interest in Buena Vista Development Company, LLC which is working with the Buena Vista Rancheria of Me-Wuk Indians on a Native American casino project to be developed in the city of Ione, California. The Company also has a management contract with Oceans Casino Cruises, Inc., owner of SunCruz Casinos, the largest day cruise casino company in the United States. On March 12, 2009, the Company announced plans to acquire three casinos in Washington State, subject to customary closing conditions. For more information, visit www.nevadagold.com.
