Europa Cruises Corporation Announces Case Decision
PR NEWSWIRE - October 22, 2001 08:45
MADEIRA BEACH, Fla., Oct 22, 2001 /PRNewswire via COMTEX/ -- Europa Cruises Corporation (OTC Bulletin Board: KRUZ) announced today that the Company's subsidiary, Casino World, Inc., has prevailed in a case that had been pending in the Supreme Court of Mississippi. The Mississippi Supreme Court handed down a decision on October 18, 2001 that upheld the decision of the Commission on Marine Resources in granting a use plan adjustment and permit to Casino World, Inc. which were required for the construction of a casino resort on the Bay of St. Louis, in Diamondhead, Mississippi.
Deborah A. Vitale, President of Casino World, Inc., commenting on the decision stated: "We are extremely pleased by the decision of the Supreme Court of Mississippi. The ruling of the highest court in Mississippi is obviously of immense comfort to the Company. This ruling allows us to proceed with a new sense of legal confidence. It is important to note, that in its ruling, in addition to upholding the decision of the Commission on Marine Resources, the Mississippi Supreme Court also made it clear that it would not allow the casino's opponents to launch an attack on the Mississippi Gaming Commission's grant of site approval to Casino World years after the time period for doing so had expired. I think even our opponents will have difficulty ignoring this decision."
Europa Cruises Corporation, through its wholly-owned subsidiary, Casino World, Inc., intends to build a themed, destination casino resort and hotel at its 404 acre site on the Bay of St. Louis in Diamondhead, Mississippi.
The development of the Diamondhead, Mississippi project is 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 involve risks and uncertainties. |
