SPORT OF KINGS COMMENCES PRIVATE PLACEMENT OFFERING
SPORT OF KINGS COMMENCES PRIVATE PLACEMENT OFFERING LAS VEGAS, Nev., Sept. 8 /PRNewswire/ -- Sport of Kings, Inc.
(the "company") (NASDAQ: ODDS), announced today that it has recently commenced a private placement offering of its common stock to raise a minimum of $4,950,000 and a maximum of $6,050,000. In connection with the offering, the company has retained the services of M.H. Meyerson & Co., Inc., which firm is acting as placement agent.
As previously announced, the Nevada Gaming Commission on Aug. 6, 1992 unanimously approved the company's applications for licensure for sports betting, horse race betting and slot machines. Pursuant to the Commission's order granting the applications, operations at the company's gaming facility cannot commence until the company has sold and received payment for a minimum of $4 million in equity financing within 90 days of the Commission's decision. Although the company is encouraged that it will be able to raise such funds on a timely basis, there can be no assurance that it will be able to complete such financing. Assuming the offering is completed, management believes that it will be able to commence operations within a few weeks thereafter. -0- 9/8/92 /CONTACT: Dennis L. Amerine, president of Sport of Kings, 702-893-3500, or fax, 702-893-3576/ (ODDS) CO: Sport of Kings, Inc. ST: Nevada IN: CNO SU: OFR
GK-OS -- NY056 -- 7106 09/08/92 15:15 EDT
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|Date:||Sep 8, 1992|
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