ORLANDO, Fla., March 23, 2004 (PRIMEZONE) -- TS&B Holdings, Inc. ("Company" or "TS&B") (OTCBB:TSBB) today announced the formation of TS&B Gaming & Entertainment Corp., a wholly owned subsidiary created solely for the purpose of positioning the Company in the $600 billion dollar Gaming Industry. TS&B is currently in negotiations with a group based in New York to invest in an existing resort property with the intent to build a gaming related resort.
Vacation and recreation destinations are becoming extremely popular. For example, a new Racino in Saratoga Springs and $308 million expansion are underway at the Oneida Nation's Turning Stone Resort and Casino in Central New York. Mr. Jenkins, the CEO of TS&B has prior experience in the gaming industry with Gamex Industries, Inc., (a publicly traded company in the early 1980s) and recently consulted to a multi-million dollar para-mutual facility in central Florida. The formation of TS&B Gaming & Entertainment Corp. is a natural fit for TS&B, given Mr. Jenkin's gaming and real estate development experience.
The CEO of TS&B Holdings Inc., James E. Jenkins stated, "With the funds we have received from Compass Capital Group we are now creating a Gaming and Entertainment Division to position TS&B in the Multi Billion Dollar Gaming Industry. We're very excited about the formation of our gaming subsidiary and our ability to enter into the Gaming Industry. With Compass Capital's $5 Million Dollar Commitment, we will begin immediately to explore ways to expand the Company's business. We believe with this capital commitment we will be able to acquire and develop substantial revenues in the next 12 months."
This press release contains certain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those currently anticipated. Factors that could cause or contribute to such differences include, but are not limited to, market acceptance of products, services and technologies; changes in local currency valuations; the Company's ability to continue to secure sources of financing; and other factors as described in the Company's filings with Securities and Exchange Commission. The Company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this press release.