SOLID NEWS OUT>>>Southwest Casino Corporation Announces Enactment of Law Permitting All-Breed Simulcasting at Running Aces Harness Park
Apr 28, 2008 7:26:00 AM
Copyright Business Wire 2008
View Additional ProfilesMINNEAPOLIS--(BUSINESS WIRE)--
Southwest Casino Corporation (OTCBB:SWCC) announced today that on Friday, April 25, 2008, Minnesota Governor Tim Pawlenty signed a bill into law under which the Minnesota Racing Commission is permitted to authorize Running Aces Harness Park to offer pari-mutuel wagering on simulcast races of all breeds of horses. Under the new law, Running Aces will be permitted to offer betting on televised races of thoroughbred and other horse breeds in addition to the harness race simulcasting already available at the racetrack. Running Aces must receive several approvals of its intended simulcasting schedule for thoroughbreds and other breeds, including the approval of the Minnesota Racing Commission before it can begin offering wagering on these additional races. Southwest Casino owns a 50 percent membership interest in Running Aces Harness Park.
Running Aces Harness Park offers live harness racing with pari-mutuel betting on a 5/8-mile racetrack in Columbus, Minnesota on the north side of the Twin Cities metropolitan area. During 2008, Running Aces will hold live racing from April 11 to July 6 on Friday, Saturday and Monday nights starting at 6:00 p.m. and Sunday afternoons starting at 3:00 p.m., as well as two Tuesday nights in June. In addition to live racing, Running Aces offers simulcast wagering on races from other tracks and a full service restaurant and bar open from 11 a.m. to 11 p.m. daily. Running Aces will also operate a card room with 50 gaming tables offering non-banked casino card games and live poker once it completes 50 days of live harness racing.
"We are pleased that this law will permit Running Aces to offer its customers access to races run at the best known horse tracks throughout the country in addition to the thrills of our live racing schedule," said Jim Druck, Southwest's CEO. "We look forward to adding these additional races to the Running Aces entertainment package as soon as we can complete the approval process."
About Southwest Casino Corporation
Southwest Casino Corporation develops, owns, operates, manages and provides consulting services to casinos, gaming facilities and related amenities. Southwest owns and operates the Gold Rush Hotel and Casino and Gold Digger's Casino in Cripple Creek, Colorado. In addition, Southwest owns a 50 percent membership interest in North Metro Harness Initiative, LLC, which owns and operates Running Aces Harness Park. Southwest's corporate offices are located at 2001 Killebrew Drive, Suite 350, Minneapolis, Minnesota 55425.
This Press Release does not constitute an offer of to sell or solicitation of an offer to buy any securities.
This Press Release contains forward-looking statements about Southwest and its ongoing business. These forward-looking statements involve risks and uncertainties that could cause the statements to be incorrect or cause actual results to differ materially. Those risks include all risks associated with Southwest's ownership interest in North Metro Harness Initiative, LLC described in the Risk Factors section of Southwest's Annual Report on Form 10-KSB filed March 31, 2008. Other risks applicable to these forward-looking statements are described elsewhere in the Annual Report as well as the company's other periodic reports filed with the Securities and Exchange Commission. Southwest does not undertake to update any forward-looking statements it makes; but may choose from time to time to update them and, if it does, will disseminate the updates to the investing public.
Source: Southwest Casino Corporation
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Southwest Casino Corporation
Thomas E. Fox
952-853-9990
President
or
Investor Relations:
Strategic Growth International
Stan Altschuler
212-838-1444
saltschuler@sgi-ir.com
or
Richard Cooper
212-838-1444
rcooper@sgi-ir.com
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