GALLERY RODEO INTERNATIONAL ENTERS INTO LETTER OF INTENT WITH RTC FINANCIAL INC.
BEVERLY HILLS, Calif., March 12 /PRNewswire/ -- Gallery Rodeo International (G.R.I.) (OTC Bulletin Board: GROI) has entered into a Letter of Intent with RTC Financial Inc., a Colorado corporation, to purchase four lots located within the gaming district of Cripple Creek, Colo. The company intends to open the Wandering Star Hotel & Casino on the site, in or around the spring of 1994. In addition to these four lots, G.R.I. also will receive certain rights to acquire three additional gaming lots contiguous to the Wandering Star property which could be incorporated into the project at a later date. Stephen M. Thompson, chief executive officer, stated, "The property is an ideal location for the proposed Wandering Star Hotel & Casino. The hotel/casino, when completed will be the first casino visitors will arrive at as they enter this scenic town." At the turn of the century, the town, at nearly 10,000 feet above sea level was a prosperous gold mining community in the foothills of Pikes Peak. Today Cripple Creek offers a unique blend of relaxing picturesque beauty with the fever of gaming excitement. Gallery Rodeo International has a consistent track record of successful management and currently operates three company-owned galleries in Beverly Hills; Lake Arrowhead, Calif.; Scottsdale, Ariz.; and has a licensing arrangement in Austin, Texas. Gallery Rodeo International, through its retail art locations, markets original fine art and limited edition serigraphs, lithographs and sculpture. The company promotes its own as well as other artists in art galleries throughout the United States and through its three company-owned galleries. Gallery Rodeo International, a publicly traded company, can be found quoted on the electronic bulletin board under the symbol "GROI." -0- 3/12/93 /CONTACT: Gary Kucher of Gallery Rodeo International, 310-273-2105/ (GROI)
CO: Gallery Rodeo International; RTC Financial Inc. ST: California, Colorado IN: CNO REA SU: TNM
JL-BP -- LA011 -- 5408 03/12/93 09:15 EST
|Printer friendly Cite/link Email Feedback|
|Date:||Mar 12, 1993|
|Previous Article:||KERR GROUP INC. ANNOUNCES STOCK REPURCHASE PROGRAM|
|Next Article:||TECOGEN CHANGES ITS NAME TO THERMO POWER CORPORATION|