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ASPEN MARINE GROUP ENTERS JOINT VENTURE AGREEMENT WITH NATIVE AMERICAN GAMING COMPANY

 GREENBACK, Tenn., Aug. 16 /PRNewswire/ -- Aspen Marine Group Inc. (NASDAQ: AMGI), a diversified recreational company, in keeping with its ongoing expansion efforts, announced today the signing of a joint venture agreement with Little Acorn Management Inc. for the operation of Native American gaming, recreation and commercial activities. Terms of the agreement were not disclosed.
 The management of Little Acorn has notable experience in the multi- billion dollar Native American gaming industry, having managed tribal gaming activities for over 10 years. Additional management agreements with other tribes are currently underway and are expected to be complete in mid-September.
 These existing and prospective gaming enterprises are adjacent to major metropolitan areas and destination resorts and are authorized under the Indian Gaming & Regulatory Act of 1988 (IGRA).
 Aspen Marine Group Inc., is a diversified recreational company best known for its award winning competition water ski boats, which it markets through its subsidiaries Supra and Moomba Sports, and its marina holding in Jacksonville, Fla.
 -0- 8/16/93
 /CONTACT: Ella Boutwell Chesnutt of Aspen Marine Group Inc., 615-856-3806; or Linda M. Etzel or Shirley Thompson of Carl Thompson Associates, 801-533-0303, for Aspen Marine/
 (AMGI)


CO: Aspen Marine Group Inc. ST: Tennessee IN: CNO SU: JVN

JB-JN -- LA016 -- 2986 08/16/93 10:29 EDT
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Publication:PR Newswire
Date:Aug 16, 1993
Words:210
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