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ANUBIS II SIGNS DEFINITIVE AGREEMENT TO ACQUIRE GAMING MANAGEMENT BUSINESSES

 ANUBIS II SIGNS DEFINITIVE AGREEMENT TO ACQUIRE
 GAMING MANAGEMENT BUSINESSES
 MINNEAPOLIS, April 29 /PRNewswire/ -- Anubis II Corp. and Riverboat Services, Inc.; Casino Cruises, Inc. and Casino Career Training Center Inc. announced today that they have signed a definitive agreement whereby Anubis II would acquire, through an exchange of stock, all of Riverboat Services, Casino Cruises and Casino Career Training Center. The agreement formalized the preliminary understanding reached by the parties and publicly announced in March of this year.
 Anubis II, commonly referred to as a blind pool formed to raise capital to acquire one or more business enterprises, completed its initial public offering of common stock and warrants in May, 1990. Anubis currently has approximately $2.8 million in cash equivalent assets and has been seeking acquisition candidates. Anubis II common stock and warrants are traded primarily in the Minneapolis-St. Paul local over-the-counter market.
 Riverboat Services, Casino Cruises and Casino Career Training Center are privately held companies owned principally by Bernard Goldstein and members of his family. Among other things, Goldstein has been active in the development of the riverboat gambling industry in a number of states, including Iowa and Illinois. Riverboat Services and Casino Cruises were created to provide fee-based management consulting services to riverboat casinos developed by Goldstein and others. These two companies currently provide consulting services to two riverboat casinos located in Iowa (the Diamond Lady Riverboat Casino serving Bettendorf and Muscatine and the Emerald Lady Riverboat Casino serving Keokuk, Fort Madison and Burlington) and management services to one riverboat casino located in Illinois, the Par-a-Dice serving Peoria. Casino Career Training Center provides training services for a fee for persons seeking careers in the gaming industry.
 Under the terms of the definitive acquisition agreement, Anubis II will issue approximately 2.7 million shares of common stock, resulting in Anubis's current stockholders owning approximately 54 percent of the common stock of Anubis II outstanding after the acquisition. Anubis II currently has approximately 3.2 million shares of common stock outstanding.
 The proposed acquisition contemplates that Anubis II and the acquired businesses will seek to own, develop and manage gaming opportunities within the regulated segment of the gaming industry, in addition to providing fee-based management and consulting services to the three current riverboat casino operations mentioned above. The definitive agreement provides Anubis II and its acquired businesses the right to become involved in owning, developing, operating or managing gaming opportunities that become available to any of the shareholders of the businesses being acquired by Anubis.
 As previously announced, the acquisition is subject to several conditions, including approval of applicable gaming authorities. The parties anticipate that the acquisition by Anubis may be closed as early as May, depending upon the regulatory approval process.
 -0- 4/29/92
 /CONTACT: Sheldon T. Fleck, president of Anubis II, 612-339-8171/ CO: Anubis II ST: Minnesota IN: CNO SU: TNM


AL -- MN018 -- 4465 04/29/92 14:16 EDT
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Publication:PR Newswire
Date:Apr 29, 1992
Words:484
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