Alliance Gaming Announces Completion of Rail City Casino Sale to The Sands Regent
May 03 2004 - 8:00AM
PR Newswire (US)
Alliance Gaming Announces Completion of Rail City Casino Sale to
The Sands Regent LAS VEGAS, May 3 /PRNewswire-FirstCall/ --
Alliance Gaming Corp. announced today the completion of its
divestiture of Rail City Casino in Sparks, Nev. Under terms of the
sales agreement with Reno, Nev.-based The Sands Regent
(NASDAQ:SNDS), Alliance Gaming received $37 million in cash and a
subordinated note to Alliance for approximately $900,000, payable
over three years. The agreement also calls for The Sands Regent to
retain a certain number of Bally Gaming participation games on the
casino floor over the next three years. Alliance Gaming is a
diversified gaming company with headquarters in Las Vegas. The
Company is engaged in the design, manufacture, operation and
distribution of advanced gaming devices and systems worldwide, and
is the nation's largest gaming machine route operator and operates
Rainbow Casino in Vicksburg, Miss. Additional information about the
Company can be found at http://www.alliancegaming.com/. This news
release may contain "forward-looking" statements within the meaning
of the Securities Act of 1933, as amended, and is subject to the
safe harbor created thereby. Such information involves important
risks and uncertainties that could significantly affect the results
in the future and, accordingly, such results may differ from those
expressed in any forward-looking statements. Future operating
results may be adversely affected as a result of a number of risks
that are detailed from time to time in the company's filings with
the Securities and Exchange Commission. For further information
please contact: investors and media, Robert L. Saxton of Alliance
Gaming Corp., +1-702-270-7600 DATASOURCE: Alliance Gaming Corp.
CONTACT: investors and media, Robert L. Saxton of Alliance Gaming
Corp., +1-702-270-7600 Web site: http://www.alliancegaming.com/
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