Here's the news:
Thursday June 25, 8:49 am Eastern Time
Company Press Release
SOURCE: Casino Airlink, Inc.
Casino Airlink Enters Into Definitive Merger Agreement
With Aviation Industries
Company Also Announces Name Change to Integrated Marketing
Professionals
FORT LAUDERDALE, Fla., June 25 /PRNewswire/ -- Casino Airlink, Inc. (OTC Bulletin Board:
POKR - news) announced that it has entered into a definitive merger agreement with Aviation
Industries Corporation (OTC Bulletin Board: AVIA - news) whereby Casino Airlink will become a
wholly owned subsidiary of Aviation Industries. Under the terms of the agreement, each of the
outstanding shares of Casino Airlink shall be exchanged for shares of Aviation Industries common
stock having a total value equal to $11,994,018. Completion of the transaction is subject to the
completion of regulatory review by the Securities and Exchange Commission, as well as approval
by shareholders of each company.
In addition, Aviation Industries has agreed to promptly seek approval of its shareholders to
reconstitute its Board of Directors to consist of William Forhan, James Muldowny, Steven York,
James Ponder and Derek Lewin, currently members of the Board of Directors of Casino Airlink,
as well as Diran Kaloustian, currently a director of Aviation Industries. Mr. Forhan will assume the
post of Chairman, and following completion of the transaction also serve as Aviation Industries'
President and Chief Executive Officer.
Casino Airlink also reported that its Board of Directors and a majority of its shareholders have
approved a change in the Company's name to Integrated Marketing Professionals, Inc., effective
immediately. The Company's common stock, however, will continue to trade under its current
trading symbol.
''Upon its completion,'' commented William G. Forhan, Chief Executive Officer of Casino Airlink,
''this merger is expected to greatly facilitate our expansion into new markets and development of
new products and services. As such, the Company's new name is intended to reflect the planned
expansion of our product mix, capitalizing on our proven marketing capabilities,''
Aviation Industries Corp. holds an equity position in Newark, N.J.-based KIWI International Air
Lines. The company is a newly formed investment concern concentrating its efforts on the regional
and charter aviation markets.
Casino Airlink is a wholesale travel company that is currently the exclusive provider of packaged
casino vacations from five cities in Florida and Atlanta, Georgia to the Mississippi Gulf Coast.
Casino Airlink provides non-stop, round-trip jet service, destination airport transfers, ground
handling, 2-3 night deluxe hotel accommodations, nightly buffet meals and access to 24-hour Las
Vegas-style gaming and entertainment. The Company, with revenues of $18.3 million in 1997,
delivered more than 85,000 passengers to the Mississippi Gulf Coast area via their chartered and
scheduled air service in 1997.
Statements about the Company's future expectations, including future revenues and earnings, and
all other statements in the press release other than historical facts are ''forward-looking statements''
within the meaning of the Private Securities Litigation Reform Act of 1995. The Company intends
that such forward-looking statements be subject to the safe harbors created thereby. Since these
statements involve risks and uncertainties and are subject to change at any time, the Company's
actual results could differ materially from expected results.
SOURCE: Casino Airlink, Inc.
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