CASINO AMERICA AFFILIATE GRANTED PRELIMINARY LICENSE APPROVAL FOR RIVERBOAT CASINO IN BOSSIER CITY, LA.
BOCA RATON, Fla., March 15 /PRNewswire/ -- Casino America, Inc. (NASDAQ: CSNO) announced today that its affiliate, Louisiana Riverboat Gaming Partnership, which it formed jointly with a subsidiary of Louisiana Downs, Inc., has been granted a certificate of preliminary approval from the Louisiana Riverboat Gaming Commission for its planned riverboat gaming facility in Bossier City, La. The certificate of preliminary approval represents an important step towards obtaining a permanent license from the state commission. Commenting on the announcement, Allan B. Solomon, secretary and treasurer of Casino America, stated, "We are very pleased to have successfully completed the first step of the licensing process in Louisiana. As a results, we can now turn our attention more fully to finalizing our plans and beginning construction of the facility." Louisiana Riverboat Gaming Partnership (LRGP) has obtained an option granting it the right to lease or purchase a 22-acre parcel located on the Red River in Bossier City, La., directly across from Shreveport, La., on which it intends to develop the riverboat gaming facility. The site is immediately adjacent to the Hamilton Road exit of Interstate 20. LRGP will shortly begin construction of an 1,800 passenger authentic paddlewheeler at the Service Marine Industries Shipyard in Morgan City, La. The riverboat will feature 28,000 square feet of gaming space. Plans also call for a 40,000 square foot combined land-based and floating pavilion, which will house a restaurant, lounge, gift shops, entertainment facilities and administrative and guest services. A subsidiary of Casino America will have sole responsibility for the entire management of the operations of the planned facility. Operations are expected to begin in the first quarter of 1994, subject to the receipt of all licenses and regulatory approvals. Casino America, Inc. is engaged in the business of developing, owning and operating riverboat and dockside casinos. The company presently operates a dockside gaming facility in Biloxi, Miss. known as the "Isle of Capri Casino." The company has also obtained licensing approval from the state of Mississippi for its planned dockside gaming location in Vicksburg, Miss., which it intends to open in summer 1993. Louisiana Downs, Inc. operates a thoroughbred racing track in the Shreveport, La. area. -0- 3/15/93 /CONTACT: Allan B. Solomon, secretary and treasurer of Casino America, Inc., 407-483-7000; or Barry A. Rothman of Greenstone Roberts Public Relations, 305-975-3500, for Casino America, Inc./ (CSNO)
CO: Casino America, Inc.; Louisiana Downs, Inc. ST: Florida, Louisiana IN: CNO SU:
AW-JJ -- FL015 -- 6151 03/15/93 15:23 EST
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|Date:||Mar 15, 1993|
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