PETOSKEY, Mich., July 23, 2010 (GLOBE NEWSWIRE) -- Rotate Black, Inc. (OTCBB:ROBK), a premier development and management company of resort and casino properties, announced today that its board of directors has approved a one-for-five reverse split of the Company's common stock. In addition, the total number of common stock authorized that may be issued by the Company shall be reduced in the same ratio as the reverse split, being reduced from 100,000,000 to 20,000,000.
The reverse split and proportionate reduction in authorized common stock shall take effect August 2, 2010.
About Rotate Black, Inc.
Rotate Black, Inc. (OTCBB:ROBK) is a premier development and management company of global resort and casino properties. The Company makes investments specifically targeted towards the gaming industry, seeking to maximize total return from capital appreciation and income. The management and Board of Directors have extensive experience in successfully developing and managing resort properties.
Forward-Looking Statement
Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such, speak only as of the date made. Rotate Black, Inc. disclaims any obligation to update the forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date stated, or if no date is stated, as of the date of this press release.