Nevada Gold & Casinos Announces Agreement to Sell Colorado Vacant Land Holdings
Pursuant to the Agreement, the Company received a
"We are pleased to dispose of this asset despite the resulting impairment charge. In 2011, we recorded an impairment charge of
The sale of this asset allows management to focus resources in more productive pursuits. This land was acquired in a series of transactions almost 20 years ago, and has been actively for sale since 2007. The Company used the proceeds received from this transaction to further reduce debt.
This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We use words such as "anticipate," "believe," "expect," "future," "intend," "plan," and similar expressions to identify forward-looking statements. Forward-looking statements include, without limitation, our ability to increase income streams, to grow revenue and earnings, and to obtain additional gaming and other projects. These statements are only predictions and are subject to certain risks, uncertainties and assumptions, which are identified and described in the Company's public filings with the
Nevada Gold & Casinos, Inc. Michael P. Shaunnessy/ James Meier(702) 685-1000 Stonegate Capital Partners Casey Stegman(214) 987-4121
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