Gaming News

Southwest acquires Colorado casinos

LAS VEGAS, Nevada – (PRESS RELASE) -- Casino management and consulting company Southwest Casino Corporation (OTCBB:SWCC) has entered into an agreement with Pinnacle Casino and Resorts, LLC to acquire the operating assets and lease the real property and improvements of the Double Eagle Hotel and Casino and Gold Creek Casino in Cripple Creek, Colorado.

On the heels of that Pinnacle Casino and Resorts has singed a deal that would give them all of the outstanding shares of Colorado Casino Resorts, Inc.(PINK SHEETS: CCRIQ), which is the owner and operator of the Double Eagle, from its current shareholders.

These transactions all fall under Southwest's asset purchase agreement with Pinnacle, so this will be happen simultaneously.

The total purchase price is US$12.6 million with an additional US$11 million in rent to be paid to Colorado Casino Resorts.

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