Attached files
| file | filename |
|---|---|
| 8-K - CURRENT REPORT - Rotate Black, Inc. | robk_8k.htm |
| EX-10.6 - AGREEMENT WITH CATSKILLS GAMING AND DEVELOPMENT, LLC - Rotate Black, Inc. | robk_ex106.htm |
Exhibit
99.1
Rotate
Black, Inc. Sells Catskills Gaming Subsidiary
PETOSKEY,
Mich., July 9, 2010 (GLOBE NEWSWIRE) -- Rotate Black, Inc. (OTCBB:ROBK), a
premier development and management company of global resort and casino
properties, announced today the sale of its Catskills gaming subsidiary, Rotate
Black Gaming, Inc. to Catskills Gaming and Development, LLC, a David Flaum
Company for the assumption of debt and $21 Million in net fees over a seven year
period following the opening of the casino.
John
Paulsen, CEO of Rotate Black, Inc., noted David Flaum's long standing commitment
to the Catskills and that his business resources provide an unparalleled
opportunity for Rotate Black, Inc. to focus on the opening of its Gulfport
location while securing long-term success in the Catskills. David Flaum,
President of Catskills Gaming and Development, LLC, equally noted that he is
eager to move the project forward from the solid foundation that Rotate Black,
Inc. has built.
The
closing of the sale is expected to occur on or before July 9, 2010.
About
Rotate Black, Inc.
Rotate
Black, Inc. (OTCBB:ROBK) is a premier development and management company of
global resort and casino properties. The Company makes investments
specifically targeted towards the gaming industry, seeking to maximize total
return from capital appreciation and income. The management and Board of
Directors have extensive experience in successfully developing and managing
resort properties.
About
David Flaum
David M.
Flaum, Founder and CEO of Flaum Management Company, Inc., of Rochester, New York
is a leading real estate developer, with a large property portfolio of over 70
properties.
Forward-Looking
Statement
Any
forward-looking statements are made pursuant to the Private Securities
Litigation Reform Act of 1995 and, as such, speak only as of the date made.
Rotate Black, Inc. disclaims any obligation to update the forward-looking
statements. You are cautioned not to place undue reliance on these
forward-looking statements which speak only as of the date stated, or if no date
is stated, as of the date of this press release.
CONTACT:
Rotate Black, Inc.
Mr. John Paulsen, Chairman & CEO
231-347-0777