Alpha Hospitality announces opening of dinner boat at its Bayou Caddy's Jubilee Casino.NEW YORK--(BUSINESS WIRE)--Jan. 10, 1995--Alpha Hospitality Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ALHY ALHY Alpha Hospitality Corporation (stock symbol; previously ALH) ; BSE See Bombay Stock Exchange. BSE See Boston Stock Exchange (BSE). :ALH; Warrants-NASDAQ:ALHYW; BSE:ALHW) announced today that its Bayou Caddy's Jubilee Casino located in Clermont Harbor, Lakeshore, Miss., has opened its new dinner boat facility. The dinner boat contains a fifty seat steak house and a 100 seat quick service restaurant. The dinner boat will be moored adjacent to the casino and, in addition to providing an important food facility for the casino, will be available for cruises for designated patrons of the casino. The facility will substantially broaden the casino's appeal to the public, particularly to higher level players. The company also announced that it was in the process of completing the renegotiation of its ground lease for the casino facility and its casino equipment leases on terms more favorable to the company. In addition, the company's largest stockholder, Bryanston Group Inc., has agreed in principal to convert approximately $7 million in loans it has made to the company to a convertible preferred stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". position. The preferred stock will be convertible at a market price. The company believes the full terms of the transaction will be completed shortly. The Bayou Caddy's Jubilee Casino is owned and operated by the company's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Alpha Gulf Coast Inc. CONTACT: Alpha Hospitality Corp., Valhalla, N.Y. Sanford Freedman 914/747-4506 |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion