Global Casino reports Doc Holliday acquisition update7 March 2008
BOULDER, Colorado -- (PRESS RELEASE) -- Global Casinos Inc. (OTCBB: GBCS) announced today that effective March 3, 2008 it entered into Amendment No. 5 to the definitive Asset Purchase and Sale Agreement dated June 14, 2007, as previously amended by Amendment No. 1 thereto dated September 28, 2007 and as amended by Amendment No. 2 thereto dated November 30, 2007 and by Amendment No. 3 thereto dated December 5, 2007 and by Amendment No. 4 thereto dated January 30, 2008 (the "Agreement") with Doc Holliday Casino, LLC, a Colorado limited liability company ("Doc Holliday"), providing for the acquisition by the Company of substantially all of the tangible and intangible assets (the "Assets") of Doc Holliday Casino, located in Central City, Colorado.
The Amendment extends the Closing Date through March 31, 2008.
On February 21, 2008, the Colorado Division of Gaming approved the application to issue a new gaming license in connection with the pending transaction. Other regulatory approvals are in process, and the parties are continuing in their effort to satisfy the other conditions precedent to Closing.