HOUSTON - September 7, 2012 (Investorideas.com Mining stocks newswire) Nevada Gold & Casinos, Inc. (NYSE MKT:UWN) today announced that Robert B. Sturges has resigned his position as Chief Executive Officer and as a member of the Board of Directors to pursue other business interests.
The Board has named Ernest E. East, formerly Senior Vice President and General Counsel and a long-time counselor to the Board, as interim President. Mr. East will report to an oversight committee of the Board of Directors, consisting of William J. Sherlock, Chairman of the Board of Directors; Francis Ricci, Chairman of the Audit Committee; and Frank Catania, Chairman of the Compliance Committee.
Mr. Sherlock commented, "Bob has served Nevada Gold loyally and well during his tenure as CEO. The Board appreciates his many contributions and wishes him well in his future endeavors. We are very fortunate to have Ernie East, who has more than 25 years' experience in the gaming industry – including with such prominent companies as Hyatt Gaming Services and Trump Hotels and Casino Resorts – assume the duties of President on an interim basis. Nevada Gold has a portfolio of excellent operating assets, a sound balance sheet and an exceptionally capable oversight committee. It will be business as usual until a permanent CEO is named. We have retained an executive search firm to assist us in the process of identifying the best possible candidates."
Mr. Sturges added, "I am pleased that the management team, working with the Board, successfully restructured the Company's operations and financial condition over the past six years. I am confident the Company will continue to grow and be successful."
As previously announced, Nevada Gold will host a conference call on Wednesday, September 12, 2012 at 11:00 am ET to discuss its first quarter 2013 financial results. A press release with first quarter financial results will be issued prior to the conference call.
About Nevada Gold
Nevada Gold & Casinos, Inc. (NYSE MKT:UWN) of Houston, Texas is a developer, owner and operator of 10 gaming operations in the state of Washington and a 900-machine slot route operation in Deadwood, South Dakota. The Company also has a gaming license in Nevada and an interest in Buena Vista Development Company, LLC, which is working on a Native American casino project to be developed in Ione , California . For more information, visit www.nevadagold.com.
This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We use words such as "anticipate," "believe," "expect," "future," "intend," "plan," and similar expressions to identify forward-looking statements. Forward-looking statements include, without limitation, our ability to increase income streams, to grow revenue and earnings, and to obtain additional gaming and other projects. These statements are only predictions and are subject to certain risks, uncertainties and assumptions, which are identified and described in the Company's public filings with the Securities and Exchange Commission.
Nevada Gold & Casinos, Inc. Jim Kohn, CFO (713) 621-2245
Published at the Investorideas.com Newswire - Big ideas for Global Investors
Disclaimer/ Disclosure:The Investorideas.com newswire is a third party publisher of news and research as well as creates original content as a news source. Original content created by investorideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news and Linkedintoday plus hundreds of syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions, content marketing and online advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp
BC Residents and Investor Disclaimer : Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.