To: SSP who wrote (27832 ) 2/15/2000 11:27:00 AM From: SSP Read Replies (2) | Respond to of 150070
CWRC - In June 1999, the Company signed a Letter of Intent with Beverly Hillbillies Gaming Company Inc. and Beverly Hillbillies Gaming Entertainment LLC to enter into a joint venture to finalize development of and finance its Black Hawk, Colorado Casino and Hotel project. The new entity will be titled, "Jethro's Beverly Hillbillies Mansion and Casino", and will be redesigned around the characters, settings, events and theme of the 1960's and '70's television sitcom, The Beverly Hillbillies. Max Baer, Jr., the founder and chairman of Beverly Hillbillies Gaming Entertainment, LLC successfully secured the exclusive master licenses from CBS and Viacom, Inc. to exploit the Beverly Hillbillies theme in connection with gaming and other entertainment venues. Mr. Baer, who is best known for his portrayal of "Jethro Bodine" during the nine year run of the television series, is also planning a facility in Reno. Under the terms of the joint venture, named "Jethro's Black Hawk, LLC," the parties will enter into an operating agreement with each party's participation to be established and set forth in accordance with an equity ownership formula. Beverly Hillbillies Gaming Entertainment, LLC will provide management services for the facility. Financing, financial advisory services and placement agent services will be provided by Westwood Capital, LLC of New York City, New York who is an investment banking firm specializing in structured debt financing and merger and acquisition transactions for companies in the financial services and real estate industries. Additionally, Westwood Capital provides project and corporate financing for companies in the gaming and hospitality industries.