Gaming News

Global Casinos executes amendment for agreement

BOULDER, Colorado -- (PRESS RELEASE) -- Global Casinos Inc. (OTCBB: GBCS) announced today that effective November 30, 2007, it entered into Amendment No. 2 to the definitive Asset Purchase and Sale Agreement dated June 14, 2007, as previously amended by Amendment No. 1 thereto dated September 28, 2007 (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 provides for an extension of the Termination Date of the Agreement to January 31, 2008.

Completion of the acquisition remains subject to numerous material contingencies, including the need to complete an equity financing, the need for regulatory approvals from the Colorado Division of Gaming and the Local Liquor Licensing Authority, the completion of audited historical financial statements of Doc Holliday Casino, as well as other conditions precedent customary to transactions of this nature.

There can be no assurance that all of the foregoing material contingencies can be satisfied. Further, the timing of regulatory approvals and the nature and extent of any conditions that may be attached to such approval cannot be predicted.

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