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Casablanca Resorts Announces Intention to Market and Eventually Sell Arizona Land.


MESQUITE, Nev. -- On September 20, 2006, Casablanca Resorts (which includes B & B B, Inc. dba Virgin River Hotel/Casino/Bingo, Virgin River Casino Corporation, RBG RBG Royal Botanical Gardens
RBG Revolutionary But Gangsta (Dead Prez album)
RBG Regalbediengerät (machine for moving pallets in an automatic warehouse)
RBG Red Blue and Green
, LLC (Logical Link Control) See "LANs" under data link protocol.

LLC - Logical Link Control
 dba Casablanca Resort/Casino/Golf/Spa and Casablanca Resorts, LLC dba Oasis Resort & Casino) announced its intention to market and eventually sell approximately 350 acres of land owned by RBG, LLC's, subsidiary Casablanca Resorts, LLC, in the state of Arizona located immediately adjacent to the city of Mesquite, Nevada Mesquite is a city in Clark County, Nevada, United States, adjacent to the Arizona state line and 77 miles (124 km) northeast of Las Vegas. As of the 2000 federal census, it had a population of 9,389, with a 2005 census estimate of 13,523. , including the land underlying the Palms Golf Course. RBG intends to officially market the property before the end of RBG's fiscal third quarter using the firm Diversified Interests, a Las Vegas-based commercial real estate company owned by RBG's manager and principle owner, Randy Black, Sr. "The Palms is the oldest golf course in a market where new golf courses have and will continue to be added to the market," Mr. Black commented. "In addition, the other amenities on the land have limited revenue growth potential. So, after careful analysis, we have concluded that the value of the golf course and other amenities is below the value of the underlying land. The proceeds we expect to receive from the sale of the land will provide additional liquidity and enable us to make investments in our operations that we believe will yield higher returns."

In anticipation of the marketing of the golf course property, on August 17, 2006, Casablanca Resorts, LLC, entered into several agreements with WSR WSR Weather Surveillance Radar
WSR West Somerset Railway
WSR Weather Service Radar
WSR Wirtschafts- und Sozialwissenschaftliches Rechenzentrum (Vienna, Austria)
WSR Waverly-Shell Rock (Waverly, IA school system) 
, Inc, the former owners of the Oasis Hotel & Casino, to terminate WSR's remaining rights in the golf course property, among other matters, for approximately $1.2 million. Pursuant to the agreements, the funds paid to WSR will be used by WSR to remediate the existing environmental liability at the Oasis Hotel & Casino, which continues to be an obligation of WSR.

Virgin River Casino Corporation, RGB (Red Green Blue) The computer's native color space, which is the color system for capturing and displaying images. RGB was derived from our own perception of color because human eyes are sensitive to red, green and blue (see trichromaticity). , LLC and B & B B, Inc., and their direct and indirect wholly owned subsidiaries 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.
, Casablanca Resorts, LLC, Oasis Interval Ownership, LLC, Oasis Interval Management, LLC and Oasis Recreational Properties, Inc., own and operate the CasaBlanca Hotel & Casino, the Oasis Hotel & Casino, and the Virgin River Hotel & Casino in Mesquite, Nevada, which is located approximately 80 miles north of 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. .

This release contains certain "forward-looking statements" within the meaning of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area.  Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995. Actual results in future periods may differ materially from forward-looking statements made today because of a number of risks and uncertainties, including, but not limited to, the ability to sell the golf course property at an acceptable price; the implementation of business and marketing strategies; changes in and challenges to gaming laws and regulations; competition; and changes in federal or state tax laws. Additional information about factors that could affect business operations is set forth in the joint SEC filings of Virgin River Casino Corporation, RBG, LLC and B & B B, Inc.
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Publication:Business Wire
Date:Sep 20, 2006
Words:477
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