Gaming News

Nevada Gold to acquire Horizon Casino Hotel

NEVADA -- (PRESS RELEASE) -- Nevada Gold & Casinos, Inc. (AMEX:UWN) today announced that the Company has reached an agreement to acquire Horizon Casino Hotel in Vicksburg, Mississippi, for approximately $35 million. The Horizon Casino Hotel is owned by Columbia Properties Vicksburg, LLC, an affiliate of Tropicana Entertainment, LLC.

The Horizon Casino Hotel is a 297 foot-long, 36,000 square foot riverboat designed in the spirit of the traditional 1800s riverboats, historically found on the Mississippi River and includes a 117 room hotel. The casino provides approximately 700 slot and video poker machines. The casino also offers a variety of table games such as black jack, roulette, craps, and three card poker.

Robert Sturges, Chief Executive Officer of Nevada Gold, stated, ``We are very excited about the acquisition of this property as it represents a further step in our business strategy to own and operate casinos. This is a uniquely positioned casino in downtown Vicksburg that we believe is well positioned in the market and can benefit from our senior management team's leadership.'

Closing of the acquisition is subject to customary closing conditions, including licensing and necessary lease transfers, among other conditions.

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