American Vantage Cos. announces land purchase.LAS VEGAS--(BUSINESS WIRE)--May 12, 1997--American Vantage Cos. (Nasdaq:ACES) Monday announced that as part of its diversification plans, it has purchased a 40-acre parcel of land in North Las Vegas North Las Vegas, city (1990 pop. 47,707), Clark co., SE Nev., a residential suburb of Las Vegas; inc. 1946. Tourism is the economic mainstay of this growing suburb. The city's population more than tripled between 1990 and 2003. for immediate development as a funeral home, mortuary mor·tu·ar·y n. A place, especially a funeral home, where dead bodies are kept before burial or cremation. and cemetery. Commenting on the new venture, Ronald J. Tassinari, president and chief executive officer, said: ``Although we are new to the funeral-service business, it fits with our long-term growth plan for diversification and consistent earnings. This is an industry that has high profit margins and a ready pool of capable management to assist us in operations. ``We are confident that we will be able to generate steady, long-term revenues by providing a much-needed service to Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. , the fastest-growing city in the U.S. The Las Vegas population has increased 400 percent since the last cemetery was added 25 years ago. Furthermore, the current population of 1.1 million is expected to reach 2 million by the year 2005.'' Tassinari also said: ``I want to reassure re·as·sure tr.v. re·as·sured, re·as·sur·ing, re·as·sures 1. To restore confidence to. 2. To assure again. 3. To reinsure. our shareholders that we will continue to be leaders in the gaming-consulting business. The company has experienced its most dramatic growth from gaming consulting, and we continue to maintain our commitment to existing contracts as well as pursuing new gaming ventures.'' The American Vantage Cos. has two gaming-consulting contracts with Indian tribes INDIAN TRIBE. A separate and distinct community or body of the aboriginal Indian race of men found in the United States. 2. Such a tribe, situated within the boundaries of a state, and exercising the powers of government and, sovereignty, under the national in California. One is with the Table Mountain Band of Indians, near Fresno. The second consulting contract is to assist in the development and operation of a gaming facility for the United Auburn Indian Community The United Auburn Indian Community (UAIC) is a Native American tribe comprised mostly of Miwok and Maidu Indians indigenous to the Sacramento Valley region. The historic Auburn Rancheria is located in the Sierra Nevada foothills near Auburn, California. , near Sacramento, through a joint venture with the Table Mountain Tribe. -0- This news release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are subject to risks and uncertainties, such as the legal status of Indian gaming in the state of California and the ability of the company to develop and operate successfully a mortuary and cemetery. The company's actual results may differ materially from those described in any forward-looking statements. Additional information concerning potential risk factors that could affect the company's business and financial results are included in the company's filings with the Securities and Exchange Commission. These filings are available from the company free of charge to shareholders by request or at www.aces1.com and on the World Wide Web at www.sec.gov . CONTACT: American Vantage Cos., Las Vegas Investor Relations Investor relations The process by which the corporation communicates with its investors. Department, 702/227-9800 702/227-8525 (fax) http://www.aces1.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion