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SODAK GAMING, INC. ANNOUNCES SALE OF ITS INTEREST IN SHARE OF MANAGEMENT FEE IN LOUISIANA PROPERTY AND LETTER OF INTENT WITH KICKAPOO NATION

 RAPID CITY, S.D., Nov. 10 /PRNewswire/ -- Sodak Gaming, Inc. (NASDAQ-NMS: SODK) today announced it entered into an agreement with Dion First American Inc. for the sale of Sodak's 50 percent share of Royal Associates Management's management fee for a Class III gaming facility on the Chitimacha Reservation in Charenton, La. Sodak also sold its interest in promissory notes executed by Chitimacha Tribe to Dion First American Inc. in the aggregate of $1.2 million. In addition, Sodak announced that it has sold its rights to the Letter of Intent to Execute Management Contract and Financing Agreement with the Kickapoo Nation in Kansas together with Sodak's interest in a promissory note executed by the Kickapoo Tribe for $457,450.
 Dion First American Inc. has agreed to pay $5.5 million to Sodak for the above mentioned interests in the Louisiana and Kansas projects. Four million dollars of such purchase price is payable in cash on closing, with the balance to be payable over a one year period commencing on the earlier of Feb. 15, 1994 or the date that Royal Associates Management's management agreement is approved by gaming regulatory agencies.
 -0- 11/10/93
 /CONTACT: Roland W. Gentner of Sodak Gaming, Inc., 605-341-5400/
 (SODK)


CO: Sodak Gaming, Inc.; Dion First American Inc. ST: South Dakota IN: CNO SU: REA

TM -- NY011 -- 2540 11/10/93 07:00 EST
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Publication:PR Newswire
Date:Nov 10, 1993
Words:228
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