Europa Cruises Corporation Announces Receipt Of Payments Toward Purchase Price Of Sky And Star
MADEIRA BEACH, Fla., Dec. 5 /PRNewswire/ -- Europa Cruises Corporation (OTC Bulletin Board: KRUZ - news) announced today that it had received the fifth payment due towards the purchase of the Europa Sky in the amount of $500,000. The Company also reported that on or about November 22, 2000, it had received the third payment due towards the purchase price of the Europa Star in the amount of $300,000. The Company announced that it will no longer issue press releases reporting the receipt of payments received towards the purchase price of the two vessels.
Deborah A. Vitale, President and Chairman of the Board of Directors of Europa Cruises Corporation, commenting on the foregoing, stated: ``To date, the purchaser of the Europa Sky and the Europa Star has made its payments in a prompt and timely manner. We have satisfied our obligations to our primary lender, First Union National Bank of Florida, and look forward to the receipt of the remaining payments and the reduction of our liabilities to the State of Florida.''
Europa Cruises Corporation, 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 business of the Company and the development of the Diamondhead, Mississippi project are subject to risks and uncertainties which include those relating to permitting, financing, the activities of environmental groups, the outcome of litigation and the actions of federal, state, or local governments and agencies. The Company may be affected by some or all of these factors and other risks and uncertainties, many of which are beyond the Company's control. Except for historical statements contained herein, the statements made in this release constitute forward-looking statements that also involve risks and uncertainties. |
