he application is related to an agreement the Company has signed to acquire a 1% interest in an entity that holds a non-restricted Nevada gaming license.
"As we have previously stated, we intend to acquire regional casino properties on an opportunistic basis in Nevada. We believe applying for a license now will allow us to expedite future transactions by removing a potentially lengthy process as an impediment to closing," said Robert Sturges, CEO of Nevada Gold.
"In 2010 we opened a business development office in Nevada. We continue to actively review potential acquisition opportunities in the state in addition to awaiting the financing efforts to develop a hotel/casino that we would operate at the Las Vegas Motor Speedway," he concluded.