Chukchansi Economic Development Authority and Cascade Entertainment Group, LLC Report Construction Progress on Chukchansi Gold Resort & Casino.Entertainment Editors/Business Editors COARSEGOLD, Calif.--(BUSINESS WIRE)--April 7, 2003 Chukchansi Economic Development Authority and Cascade Entertainment Group, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control reported today on the construction progress of the Chukchansi Gold Resort & Casino. As of March 31, Walton Construction In 1985, Greg Walton founded Walton Construction, a privately owned construction company, in Kansas City, Missouri. In two decades, Walton has become one of the top 100 general contractors in the United States, according to Engineering News Record, with annual revenue exceeding $800 (Construction Manager to the project) has contracted out a large portion of the following work: site, concrete, electrical, steel, drywall, project access and safety, mechanical, elevator and roofing. They have made progress in negotiating other major subcontracts as well, including identifying the millwork and theming contractors who will be performing the decorative and finishing work to the public spaces. During the month of March, the site work contractor, Kiewit Pacific, completed all but minor work to reshape the Coarsegold landscape, the mass grading, and underground utility scopes of work. Parking lot paving has begun together with concrete curbing, with all paved lots scheduled to be completed within weeks. The Highway 41 work started as scheduled. This work includes building a traffic intersection at the Casino entry and at the junction to Road 417. Work continues on the underpass at Road 417 where the approach roads have been paved and guard rails installed. Well drilling Well drilling is the process of drilling a hole in the ground for the extraction of a natural resource such as ground water, natural gas, or petroleum. Drilling for the exploration of the nature of the material underground (for instance in search of metallic ore) is best described is now complete and the installation of the distribution piping is underway. FWS, the Design/Builder for the Waste Water Treatment plant, continued working on the structural work of the plant. The concrete work is substantially complete and all guest rooms have been framed and plumbed. The Casino is now 90% "dried in" as the roofing subcontractor One who takes a portion of a contract from the principal contractor or from another subcontractor. When an individual or a company is involved in a large-scale project, a contractor is often hired to see that the work is done. has made good progress on the roofs and the EIFS EIFS Exterior Insulation and Finish System (construction) EIFS Extended Inter-Frame Space (IEEE 802.11) EIFS Economic Impact Forecast System EIFS Estonian Institute for Futures Studies exterior cladding The plastic or glass sheath that is fused to and surrounds the core of an optical fiber. The cladding's mirror-like coating keeps the light waves reflected inside the core. The cladding is covered with a protective outer jacket. See fiber optics glossary. system work and installation of windows continued. The mechanical trades continued working on the sprinkler, electrical, plumbing and HVAC (Heating Ventilation Air Conditioning) In the home or small office with a handful of computers, HVAC is more for human comfort than the machines. In large datacenters, a humidity-free room with a steady, cool temperature is essential for the trouble-free systems throughout the Hotel and Casino areas. The Construction Manager has requested change orders, which Cascade Entertainment Group, LLC ("Cascade") has reviewed, to increase the construction budget in excess of their currently approved guaranteed maximum price A Guaranteed Maximum Price (also known as GMP, Not-To-Exceed Price, NTE, or NTX) contract is a cost-type contract (also known as an open-book contract) where the contractor is compensated for actual costs incurred plus a fixed fee subject to a ceiling price. contract; the Construction Manager and Cascade are engaged in discussions to resolve the change order requests. Even after giving effect to the amounts requested by the Construction Manager and their schedule impacts, Cascade believes the Authority has sufficient available funds to complete construction of the Chukchansi Gold Resort & Casino. "We continue to believe that the casino is on schedule to be open to the public by June 25, 2003 and that the hotel is on schedule to be open to the public by August 22, 2003," said Russell Pratt, President of Cascade Entertainment Group, LLC. Owned by the Chukchansi Economic Development Authority, an enterprise of the Picayune Picayune (pĭkəy  n`), city (1990 pop. 10,633), Pearl River co., S Miss., near the Pearl River and the La. line; inc. 1904. Rancheria rancheria (ränchā`rēä), type of communal settlement formerly characteristic of the Yaqui Indians of Sonora, Mexico, and of various small Native American groups of the SW United States, especially in California. of Chukchansi Indians, and developed and managed by Cascade Entertainment Group, Chukchansi Gold Resort and Casino is scheduled to open to the public in the Summer of 2003. As the region's first fully integrated hotel-casino, the facility is expected to feature 1,800 of the latest slot machines, over 40 table games, 7 individually themed bars and restaurants, a 192-room luxury hotel, an RV park, and live entertainment in two show venues. Located 35 minutes north of Fresno on Highway 41 in the beautiful Sierra foothills, Chukchansi Gold Resort and Casino is being designed as one of central California's premier gaming destinations, providing guests with a distinctive and exciting entertainment experience. Some of the statements in this press release, as well as oral statements made by Cascade Entertainment Group officials to analysts and investors in the course of presentations about the project and conference calls following quarterly earnings releases, constitute "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. " within the meaning of the Private Securities Reform Act of 1995. Such statements may include projections of the construction budget, the anticipated opening date of Chukchansi Gold Resort & Casino, and discussions regarding the anticipated size and amenities of the Chukchansi Gold Resort & Casino. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, but are not limited to: general economic and business conditions; unforeseen construction difficulties; and the effect of applicable gaming laws Gaming law can be described as the set of rules and regulations that apply to the gaming or gambling industry. Gaming law is not exactly a branch of law in the traditional sense but rather a transversal gathering of a range of legal topics related to gaming which encompasses . Inquiries should be directed to Kathy Reiner, Chief Financial Officer of Cascade Entertainment Group, LLC at 916/387-6317. |
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