Hilton Gaming Corp. and Boomtown Inc. acquire Pinnacle Gaming Development Corp. from Century Casinos Inc.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. and RENO, Nev.--(BUSINESS WIRE)--Dec. 28, 1995--Hilton Gaming Corp. and Boomtown boom·town n. A town experiencing an economic or a population boom. Inc. Thursday announced that the two companies have jointly acquired Pinnacle Gaming Development Corp. from Century Casinos Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CNTY CNTY County CNTY country (US DoD) ) for the purpose of pursuing a gaming license in Indiana. Pinnacle holds a pending application in good standing for one of the two remaining riverboat riv·er·boat n. A boat suitable for use on a river. gaming licenses to be awarded on the Ohio River Ohio River Major river, eastern central U.S. Formed by the confluence of the Allegheny and Monongahela rivers, it flows northwest out of Pennsylvania, and west and southwest to form the state boundaries of Ohio–West Virginia, Ohio-Kentucky, Indiana-Kentucky, and in Indiana. The application is for a license in Switzerland County, Indiana
Switzerland County is a county located in the U.S. state of Indiana. As of 2000, the population is 9,065. , which is located approximately 35 miles southwest of Cincinnati. If selected, Switzerland County will also be the most convenient gaming location for a significant part of Northern Kentucky, including Lexington. With the acquisition of Pinnacle, the Hilton-Boomtown joint venture is positioned to significantly expand the Switzerland County project as proposed originally by Pinnacle, and has filed such an amended application with the Indiana Gaming Commission. If awarded the license, the partnership plans to construct a state-of-the-art cruising riverboat with 38,000 square feet of casino space. Supporting land-based facilities will incorporate a "Western river town"-themed entertainment complex that will include a hotel with up to 300 rooms, 700-seat multipurpose mul·ti·pur·pose adj. Designed or used for several purposes: a multipurpose room; multipurpose software. multipurpose Adjective special events room and several restaurants and retail operations. "We are very enthusiastic about the opportunity to partner with Boomtown in this proposed casino-entertainment complex that will feature the company's well-known Western theme. The strength of Boomtown's proven track record in new and established gaming markets throughout the country, coupled with Hilton's worldwide gaming experience and hotel expertise, will create a strong community partner for Switzerland County," said F.M. "Bud" Celey Jr., executive vice president-Hilton Hotels and president-gaming operations. "We are excited to once again be working with Hilton in this partnership, as we know Boomtown's successful Western themes and Hilton's reputation and financial strength will be complementary in this jointly managed casino-entertainment complex. We are looking forward as well to working with the local citizens and officials of Switzerland County to create a first-class entertainment destination," said Timothy J. Parrott, chairman of the board and chief executive officer, Boomtown. Hilton Hotels
Boomtown is a gaming and entertainment company that operates four highly themed "Old West" casinos in the diverse gaming markets of Reno and Las Vegas; Biloxi, Miss.; and a riverboat operation in New Orleans. CONTACT: Hilton Hotels Corp. Marc Grossman, 702/699-5000 or Boomtown Inc. Robert F. List, 702/345-8680 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion