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IDC SELLS MANAGEMENT RIGHTS TO PROPOSED BRIDGEPORT, CASINO FOR $1.5 MILLION

 MINNEAPOLIS, Dec. 7 /PRNewswire/ -- IDC Holdings, Ltd. announced today that it has sold to the Golden Hill Tribe of Bridgeport and Colechester, Conn., its rights under a management and development contract pertaining to a proposed casino in Bridgeport, Conn.
 The March 8, 1993, contract between the Golden Hill Tribe and Native American Game Productions, a wholly owned subsidiary of IDC, was assigned to IDC, who subsequently funded the Tribe's efforts to secure federal recognition, land settlement claims, and other regulatory clearances.
 Under the terms of the sale, IDC will be paid $1.5 million cash, funded from the net profits of any gaming enterprises that the Golden Hill Tribe owns in Connecticut. In addition, and for a period of seven years, the Tribe will honor its 3 percent revenue-sharing obligation to IDC from net profits.
 John I. Priscella, chairman of the board of IDC, stated, "We believe that the Golden Hill Tribe will be successful in moving forward with gaming operations in Connecticut. This sale, however, helps secure IDC's prior investment and better serves the company at the present time."
 -0- 12/7/93
 /CONTACT: John Priscella, chairman; or Tom de Petra, chief information officer, of IDC, 612-541-1100/


CO: IDC Holdings, Ltd. ST: Minnesota IN: CNO SU: CON

DB-PB -- MN007 -- 1310 12/07/93 13:04 EST
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Publication:PR Newswire
Date:Dec 7, 1993
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