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GAMMA SELLS CASINO INTEREST IN FLORIDA CRUISE SHIP

 ATLANTIC CITY, N.J., Jan. 14 /PRNewswire/ -- Gamma International, Ltd. (NASDAQ-Small Cap: GAMM) announced that the company has sold its interest in the casino concession on board the vessel M/V Crown Empress to Gold Star Casinos of St. Petersburg, Inc. for one million, one hundred thousand dollars ($1,100,000). One hundred thousand dollars ($100,000) of the purchase price has already been paid to Gamma. The remaining one million dollars ($1,000,000) is payable in four monthly installments of two hundred fifty thousand dollars ($250,000) each, beginning Feb. 6, 1994, plus interest at the rate of 10% per annum.
 Gamma International, Ltd. common stock, warrants and units are traded on the NASDAQ Small Cap Market under the symbols GAMM, GAMMW and GAMMU, respectively.
 -0- 1/14/94
 /CONTACT: Alfred J. Luciani, president of Gamma International, 609-272-7700; or John Swanson of Swanson Communications, 212-689-4890/
 (GAMM)


CO: Gamma International, Ltd.; Gold Star Casinos of St. Petersburg,
 Inc. ST: New Jersey; Florida IN: CNO SU:


WB-PS -- NY033 -- 1196 01/14/94 12:11 EST
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Publication:PR Newswire
Date:Jan 14, 1994
Words:175
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