This should help pay off some debt
Europa Cruises Corporation Announces Receipt of Second Cash Payment Due in the Amount of $950,000 From Sale of the M/V Europa Sun
MADEIRA BEACH, Fla., Feb. 4 /PRNewswire/ -- Europa Cruises Corporation (OTC Bulletin Board: KRUZ - news) announced today that it had received the second cash payment due in the amount of $950,000 pursuant to the Agreement reached recently relating to the sale of the M/V Europa Sun and related assets. The majority of the payment received will be used to continue to pay down existing debt.
Europa Cruises Corporation owns, operates and/or leases gambling ships. Until the sale of the Sun, the Company owned three vessels, including the Sun, which it chartered. The Company now owns two vessels. The Company operates one of its vessels, the M/V Europa Sky, out of Madeira Beach, Florida. The Company offers day and evening gambling cruises which include Las Vegas-style gaming, including blackjack, slot machines, craps, and roulette in addition to dining, dancing and entertainment.
The Company, through its wholly owned subsidiary, Casino World, Inc., intends to build a destination casino resort and hotel at its 404-acre site on the Bay of St. Louis in Diamondhead, Mississippi. The site, which is located immediately off Interstate 10, is adjacent to a site on which Mandalay Resort Group, previously known as Circus Circus Enterprises, Inc., also intends to develop a destination casino resort and hotel. |
