We are extremely excited about the opportunity to purchase seven additional mini-casinos in Washington and feel that we can use our experience and infrastructure from the three operations we recently acquired in Washington, to enhance and efficiently operate these properties," said Robert Sturges, CEO of Nevada Gold.
He added: "We are not able to disclose financial terms of the deal, as they are still subject to court approval, but the purchase price is well within the target multiple range we previously disclosed. When and if the transaction is approved, we will be operating 128 gaming tables in the state of Washington. We look forward to updating you on this transaction in seven to ten days, which is the anticipated filing date with the Court."
Jim Kohn, CFO, will be presenting at Telsey Advisory Group's 2nd Annual Consumer Conference today at the Westin Times Square in New York City. The presentation will begin at 2:05 PM Eastern Time. The investor presentation will be webcast live from the investor relations portion of the company's website at www.nevadagold.com.