Peter R. LaFemina, Investor Relations
Phoenix Leisure’s Gaming Vessel Begins Journey to Gulf Coast
Boat to reach its new home near Bayou Caddy by late August
LAS VEGAS, Nevada, July 20, 1999 – Phoenix Leisure Corporation (VSE: PLS) today announced that its gaming vessel departed from its current port in Windsor, Ontario on July 18 and has begun a six-week journey to its new home in Hancock County, Mississippi. "The boat’s departure represents an important milestone for the Company," said Eric Nelson, Chairman of the Board and President of Phoenix Leisure Corporation. Mr. Nelson added, "The vessel is as symbolic as it is strategic as we embark on our course to obtain a gaming license in Mississippi."
The Company is developing plans to build a gaming resort at Bayou Caddy along Mississippi’s Gulf Coast. Company representatives will present its latest development plans to Hancock County’s Board of Supervisors on Wednesday, July 21. A Notice of Intent to apply for a gaming license was filed by Phoenix Leisure Corporation and approved by the Mississippi Gaming Commission on July 13. The Company must now submit its site development plans to various federal, state and local agencies and present its officers, directors and major shareholders for investigative background checks in order to be approved for a gaming license.
The gaming vessel, the former Northern Belle, was purchased by Phoenix Leisure for US$2.2 million from Park Place Entertainment Corporation in early June. The vessel will travel through the St. Lawrence seaway, then head down the coastal route of the Atlantic and up the Gulf of Mexico before reaching its final destination. The trip is expected to take approximately six weeks under the direction of Captain John Hall of Ocean Masters Marine Logistics based in California.
Headquartered in Las Vegas, Phoenix Leisure Corporation is an emerging developer and operator of niche opportunities in the gaming, hospitality and entertainment industry. Phoenix Leisure Corporation’s Chairman of the Board and President, Eric L. Nelson previously developed dockside gaming facilities in Greenville and Tunica, Mississippi. The company’s stock is publicly traded on the Vancouver Stock Exchange under the symbol "PLS".
Statements in this release which are not historical facts are "forward
looking" statements and "safe harbor statements" under the U.S. Private
Securities Litigation Reform Act of 1995 that involve risks and/or uncertainties,
including risks and/or uncertainties as described in the Company’s public
filings with the Canadian Securities Administrator’s SEDAR® database
and the Vancouver Stock Exchange.
The Vancouver Stock Exchange has not reviewed this news release and does not accept responsibility for its accuracy.
PLS Press Release