Nevada Gold Announces Expansion of Stock Repurchase Program
September 10 2004 - 3:59PM
PR Newswire (US)
Nevada Gold Announces Expansion of Stock Repurchase Program
HOUSTON, Sept. 10 /PRNewswire-FirstCall/ -- Nevada Gold &
Casinos, Inc. (AMEX:UWN) today announced that its Board of
Directors has approved a plan to expand the stock repurchase
program for an additional 100,000 shares of the Company's common
stock. Nevada Gold's June 2003 announcement to repurchase up to
100,000 shares has been completed. The expanded stock buyback is
consistent with the Company's ongoing strategy to redeploy cash
flow in new projects, debt reduction, and share purchases. Based on
share price and availability, purchases will take place in open
market transactions in accordance with applicable securities and
other laws and regulations. Depending on market conditions and
other factors, such purchases may be commenced or suspended at any
time without prior notice. "As we have stated in the past, we will
increase shareholder value by prudently investing the Company's
cash flow in attractive projects, through the elimination of debt
and further share repurchases. We are committed to our ongoing
strategy to drive shareholder value," stated H. Thomas Winn,
Chairman, President & CEO. About Nevada Gold & Casinos
Nevada Gold & Casinos, Inc. of Houston, is a developer of
gaming properties, and has real estate interests in Colorado,
California, and Nevada. UWN owns a 43% interest in The Isle of
Capri-Black Hawk LLC, which owns Isle of Capri Casino, a 237-room
hotel/casino and Colorado Central Station Casino (both located in
Black Hawk, Colo., about 35 miles west of Denver) and Colorado
Grande Casino, located in Cripple Creek, Colo. The LLC is a joint
venture with Isle of Capri Casinos, Inc. (NASDAQ:ISLE). UWN has 69%
ownership of Dry Creek Casino, LLC, which is assisting the Dry
Creek Rancheria Band of Pomo Indians with their River Rock Casino,
Alexander Valley, Sonoma County, California (about 75 miles north
of San Francisco in the California wine country). UWN has 51%
ownership of Route 66 Casinos, LLC, which has the right to lease
gaming equipment to the Pueblo of Laguna in their Route 66 Casino
11 miles west of Albuquerque, N.M., which opened in September 2003.
Nevada Gold Tulsa, Inc., a wholly-owned subsidiary, has entered
into a contract to develop and manage a casino for the Muscogee
(Creek) Nation in Tulsa, Okla. Also, Gold River, LLC, a
wholly-owned subsidiary of UWN, has entered into a development
agreement for a gaming resort in Pauma Valley, California for the
La Jolla Band of Luiseno Indians. The management agreement for La
Jolla is currently being finalized and is expected to be completed
in the near future. For more information, visit
http://www.nevadagold.com/ . Contact: Nevada Gold H. Thomas Winn,
Chairman, President & CEO or Christopher Domijan, CFO (713)
621-2245 Integrated Corporate Relations Thomas Ryan or Don Duffy
(203) 222-9013 DATASOURCE: Nevada Gold & Casinos, Inc. CONTACT:
H. Thomas Winn, Chairman, President & CEO or Christopher
Domijan, CFO, both of Nevada Gold & Casinos, Inc.,
+1-713-621-2245; or Thomas Ryan or Don Duffy, both of Integrated
Corporate Relations, +1-203-222-9013 Web site:
http://www.nevadagold.com/
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