Buyout of Doc Holliday Casino Moved to January 31st
Global Casinos Incorporated recently announced that it has shelved back their purchase of the Doc Holliday Casino in Central City until January 31st, 2008. The buyout was announced on June 2007. Global Casinos Incorporated from Boulder, Colorado commented in September that they are expecting to finalize the buyout deal by the end of November.
Global Casinos Incorporated already owns the Bull Durham Casino facility in Blackhawk. The state of Colorado's rules and regulations permits gambling in three towns: Central City, Blackhawk and Cripple Creek. But it has some restrictions that gaming operators should follow. With the online casino ban, casino owners are hoping that more gamblers will be forced to flock to the land-based casinos for gambling.
The Doc Holliday Casino facility, which opened in 2004, has 212 slot machines in their offering. The Global Casinos Incorporated will pay $2.4 million for the acquisition but the sales cost will be affected by the total of any prepaid expenses Doc Holliday Casino LLC that gives a lot of benefits to its owner after the closing date.
The buyer commented that the buyout deal still needs to seek the approval of the Colorado Division of Gaming and Global Casinos Incorporated must finish an equity financing to finalized the buyout deal.
12/27/2007 07:25 PM
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