HOPR .004/.005 should fly now on CWRC news **** CWRC Signs Financing Agreement 2/24/99
Country World Casinos, Inc.Signs Engagement Agreement With U.S. Bancorp
Libra to Fund Its Black Hawk Casino and Entertainment Complex
February 24, 1999 07:52 AM
BALA CYNWYD, Pa.--(BUSINESS WIRE)--Feb. 24, 1999--Country World Casinos,
Inc. CWRC ; today announced the signing of an engagement agreement with
U.S. BANCORP LIBRA USB to act as the Company's Financial Advisor and
Placement Agent in connection with the issuance and sale of First
Mortgage Debt Securities sufficient to build the Company's planned
parking garage, bus facility, entertainment and casino complex at this
time. Provisions have been designed into the project, to add a 200 room
hotel atop the casino complex at a later date.
Colorado Gaming Development Co., Inc. in conjunction with Semple Brown
Roberts, PC., architect, are charged with completing the design and
development of the project and PCL Construction Services, Inc. will
build the project under a fixed price agreement. The Company will
announce its choice of a Gaming Management Company within the next 30 to
60 days and a construction schedule will be forthcoming shortly
following funding of the debt securities.
William H. Patrowicz, secretary of Country World Casinos, Inc. stated,
"We are thoroughly pleased to finally be able to make this announcement
and begin the process of building this project. With the property
excavated, EPA cleaned and certified and the design mostly complete, we
can now set our sites on completing the remaining tasks at hand, develop
a construction schedule and determine an opening date. We are especially
pleased with the development, design and construction team assembled as
they have vast knowledge of the gaming industry in their respective
fields and are well experienced in Black Hawk and its requirements."
Country World Casinos, Inc., headquartered in Bala Cynwyd, Pa., is an
OTC listed company whose plan is to develop and build a casino and
entertainment complex which will include 1000 state-of-the-art slot
machines, 32 gaming tables, fine dining, entertainment, valet and self
parking for approximately 1000 cars and bus facilities at Black Hawk,
Colorado. The second phase of the project includes approximately 200
hotel rooms complete with gym and pool facilities.
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