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NEVADA CONTROL BOARD RECOMMENDS APPROVAL OF SPORT OF KINGS APPLICATION

NEVADA CONTROL BOARD RECOMMENDS APPROVAL OF SPORT OF KINGS APPLICATION
 LAS VEGAS, Nev., July 24 /PRNewswire/ -- Sport of Kings, Inc. (NASDAQ: ODDS) announced today that on July 23, 1992, the Nevada State Gaming Control Board recommended approval of the company's application to operate a race and sports book. The decision of the three-member Nevada Gaming Board comprises its recommendation to the Nevada Gaming Commission on licensure of the company for sports betting, horse race betting and slot machines. The Nevada Gaming Commission hearing is scheduled for July 30, 1992, to consider the boards's favorable recommendation.
 In connection with the board's decision, the company and Caspian Resources Limited, the company's former principal investor, agreed to amend the previously announced agreements regarding the company's repurchase of 7,106,738 shares to reduce the purchase price to $.30 per share.
 The board's recommendation of approval of the application is subject to the raising of at least $4 million in equity financing within 90 days of the commission's action.
 The company cannot and will not speculate on the outcome of the commission's hearing or whether or not the commission will accept the recommendation of the board.
 -0- 7/24/92
 /CONTACT: Dennis L. Amerine, president of Sport of Kings, Inc., 702-893-3500, or fax, 702-893-3576/
 (ODDS) CO: Sport of Kings ST: Nevada IN: SU:


AH -- NY004 -- 2893 07/24/92 08:15 EDT
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Publication:PR Newswire
Date:Jul 24, 1992
Words:228
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