SAHARA RESORTS AND SAHARA CASINO PARTNERS ANNOUNCE THERE WILL BE NO DISTRIBUTION FOR THE THIRD QUARTER
SAHARA RESORTS AND SAHARA CASINO PARTNERS ANNOUNCE
THERE WILL BE NO DISTRIBUTION FOR THE THIRD QUARTER
LAS VEGAS, July 17 /PRNewswire/ -- Sahara Resorts (NASDAQ: SHRE), a Nevada corporation, and Sahara Casino Partners L.P. (NYSE: SAH) announced today that the partnership will not at this time make the distribution of $0.28 per publicly traded unit for the third quarter ended June 30, 1992. November is the next scheduled distribution date for the quarter ending Sept. 30.
Under the terms of the partnership's Agreement of Limited Partnership, prior to making any distributions for future quarters to subordinated units beneficially owned by Sahara Resorts, the partnership is first required to distribute to publicly traded units $0.28 per unit for each completed quarter through Sept. 30, 1992. Payment of these distributions is not required to be made quarterly, however, and may be deferred and made to public unitholders as of a later date.
Sahara Resorts beneficially owns 62 percent of the outstanding limited partner interests in Sahara Casino Partners L.P.
/CONTACT: Ronald J. Radcliffe of Sahara, 702-737-2721/
(SHRE SAH) CO: Sahara Resorts; Sahara Casino Partners L.P. ST: Nevada IN: CNO SU: DIV JL-KJ -- LA022 -- 0446 07/17/92 17:40 EDT