GAMING CORPORATION OF AMERICA ANNOUNCES WISCONSIN WINNEBAGO TRIBE GRANT OF GAMING LICENSE TO AFFILIATE GOLDEN NICKEL CASINOS, INC.
MINNEAPOLIS, May 7 /PRNewswire/ -- Gaming Corporation of America (NASDAQ: GCAM) (GCA) announced today the granting of a gaming license to its affiliate Golden Nickel Casinos, Inc. (GNC) by the Wisconsin Winnebago Tribe relating to GNC's management of the Tribe's casino being developed near Wisconsin Dells, Wis. It is the intention of GCA to acquire GNC as a wholly owned subsidiary upon receipt of additional approvals from the Tribe. Sheldon Fleck, CEO and president stated, "The granting of this license will allow Golden Nickel and GCA to move forward jointly with Wisconsin Winnebago Tribe to complete the development of a very exciting casino project located in the popular destination resort area of Wisconsin Dells." Gaming Corporation of America, with principal executive offices in Minneapolis, is pursuing several casino management and development opportunities in the rapidly expanding casino-style gaming industry. These include several opportunities to manage casinos on Indian Land and to develop, own and operate dockside casinos. The company currently has a license application pending for a casino project in Biloxi, Miss., and is pursuing National Indian Gaming Commission approval of its contract with the Pascua Yaqui Tribe of Arizona. GCA also recently announced its participation in a joint venture with Grand Casinos, Inc. to acquire a gaming site 30 miles south Memphis, Tenn., located in Tunica County, Miss., for the potential development and operation of one or more dockside casinos at that location. GCA, organized in 1991, completed its initial public offering of securities in February 1993, raising over $23 million. Also, in early March 1993, the holders of the company's Series A Notes converted into common stock all of the $6 million then-outstanding Series A Notes. GCA's common stock, warrants and units are traded on NASDAQ under the symbols GCAM, GCAMW and GCAMU. -0- 5/7/93 /CONTACT: Sheldon T. Fleck, CEO and president of Gaming Corporation of America, 612-339-8171/ (GCAM)
CO: Gaming Corporation of America ST: Minnesota IN: CNO SU:
AL -- MN008 -- 5880 05/07/93 11:00 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||May 7, 1993|
|Previous Article:||/C O R R E C T I O N -- TELEVISION STAR RAYMOND BURR/|
|Next Article:||POLAROID AGREES TO SELL INTEREST IN PBDS UNIT TO BEHRINGWERKE AG, ITS JOINT VENTURE PARTNER|