HOUSTON, Jan. 24, 2012 (GLOBE NEWSWIRE) -- Nevada Gold & Casinos, Inc. (NYSE Amex:UWN) today announced that it has received approval for its state gaming license from the South Dakota Commission on Gaming.
"We continue to believe that the acquisition of AG Trucano is a very attractive opportunity for Nevada Gold. The approval for a gaming license in the state of South Dakota is one of the final steps before closing our pending acquisition," said Robert Sturges, Chief Executive Officer of Nevada Gold. "We are delighted to have received approval from the South Dakota Commission on Gaming and appreciate the efforts of the Commission in the timely evaluation of our application."
On October 18, 2011, the Company announced that it had signed an agreement to purchase AG Trucano, Son & Grandsons, Inc. ("AG Trucano"), a slot route operator comprised of more than 900 slots based in Deadwood, South Dakota, for $5.2 million. Closing of the acquisition is subject to customary closing conditions.
About Nevada Gold
Nevada Gold & Casinos, Inc. (NYSE Amex:UWN) of Houston, Texas is a developer, owner and operator of 11 gaming facilities in Colorado and Washington. The following properties are wholly owned and operated by Nevada Gold: Colorado Grande Casino in Cripple Creek, Colorado, the Crazy Moose Casinos in Pasco and Mountlake Terrace, Washington, Coyote Bob's Roadhouse Casino in Kennewick, Washington, the Silver Dollar Casinos in Seatac, Bothell and Renton, Washington, the Club Hollywood Casino located in Shoreline, Washington, the Royal Casino located in Everett, Washington, the Red Dragon Casino in Mountlake Terrace, Washington and the Golden Nugget Casino located in Tukwila, Washington. The Company has an interest in Buena Vista Development Company, LLC which is working with the Buena Vista Rancheria of Me-Wuk Indians on a Native American casino project to be developed in the city of Ione, California. On October 18, 2011, the Company signed an agreement to acquire a slot route operation in Deadwood, South Dakota which is anticipated to close during the first calendar quarter of 2012. On November 23, 2011, the Company signed an agreement to sell the Colorado Grande Casino. Closing of the transaction is expected to take place before the end of the Company's 2012 fiscal year. For more information, visit www.nevadagold.com
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