Found this on the Hilton page??????
CyberAmerica Corp. Receives Final Approval of Casino Development Master Plan
Elko County, NV Master Plan approval includes 1,079 acres of CyberAmerica
Property
OASIS, Nev.--(BUSINESS WIRE)--April 16, 1999-- CyberAmerica Corp., (OTC
BB:CYAA) Friday announced that it has received final approval by Elko County
Planning Commission for its Oasis Master Plan Development.
The Master Plan includes zoning change and development approval of the company's
1,079 acres which it currently owns at the Intersection of I-80 and State Road 233 in
Oasis.
Approval by the commission included the following;
-- 306 acres of the company's property zoned for Hotel and Casino development.
-- 342 acres for single and medium density residential development.
-- 367 acres for Signature Golf Course development including approx. 230 residential
estate lots surrounding the course.
MGM Grand (NYSE:MGG - news) reports that its flagship property in Las Vegas,
MGM Grand Hotel and Casino - The City of Entertainment is experiencing record first
quarter 1999 occupancy of 96.5% vs. 90.6% in the comparable 1998 period, with
average daily rates-to-year.
Occupancy rates at the company's New York - New York Hotel and Casino are
currently 97.8% compared with 88.9% in 1998. Others in this industry group include
Trump Hotels (NYSE:DJT - news), Circus Circus (NYSE:CIR - news), Mirage
(NYSE:MIR - news), Harrahs (NYSE:HET - news), Hilton (NYSE:HLT - news), Park
Place Ent. (NYSE:PPE - news), Caesars/Starwood (NYSE:HOT - news).
When asked to comment, Richard Surber, president, stated, ''We are very excited with
the endorsement Cyberamerica, Inc. has received from the Planning Commission.
Although the company has not yet acquired a financing commitment for the development
we have already sold 22 acres of the commercially zoned property to two separate
purchasers.
''We feel the Master Plan approval can only attract greater positive attention to the
Company's Oasis development, and possible joint
venture partners.''
Certain statements made herein that are not historical are forward-looking with the
meaning of the Private Securities Litigation reform Act of 1995. Investors are cautioned
that all forward-looking statements involve risks and uncertainties.
Investors who seek more information about the company's business and relevant risk
factors may wish to review the company's periodic
reports filed with the Securities and Exchange Commission including, but not limited, its
most recent annual Report of Form 10-KSB
and Quarterly Report on Form 10-QSB. |
