Diamondhead Casino Corporation Issues Status Report
(OTC Bulletin Board: DHCC) (the “Company”) which owns approximately 404 acres
of land, which is debt-free and lien- free, on the
On
Casinos Austria International Holding, GMBH (“CAI”) to form a joint venture
partnership to develop, build and operate a destination casino resort at the
Company’s
Company, at the request of CAI, extended the terms of the Letter of Intent
through
that, although it still believed in the project and hoped to continue as soon
as the economic situation improved and allowed for acceptable financing for
the project, it was ceasing its activities with respect to the project until
such time as the market recovered and successful financing for the project was
available. On
terms of the Letter of Intent through
economic situation, the Company agreed to the request.
In the interim, the Company is moving forward with actual casino site
selection and, to the extent possible, to obtain those permits and
authorizations required to move forward when acceptable financing does become
available.
The Company reported that on
extension of its existing Department of Marine Resources Permit was presented
to the
year extension of the Permit through
Hancock County Zoning
The Company reported that on
Supervisors approved the Company’s request for an extension of the Special Use
District-Waterfront Gaming District Zoning that applies to the Company’s
required to construct a casino at the
permits, approvals, authorizations and licenses from other agencies are also
required to construct and operate a casino at the Company’s
property. These are more fully discussed in the Company’s SEC filings.
About Diamondhead Casino Corporation
Diamondhead Casino Corporation, through its wholly-owned subsidiary,
Mississippi Gaming Corporation, owns and intends to develop, in cooperation
with a joint venture partner or partners, approximately 404 acres of land in
destination casino resort and hotel with condominiums and other amenities. The
of
Mississippi
a Special Use District-Waterfront Gaming District by
allowing casinos to be built up to 800 hundred feet from the mean high water
line of certain bodies of water. The new law applies to the
property.
Cautionary Statement Regarding Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a “safe
harbor” for forward- looking statements so long as those statements are
identified as forward-looking and are accompanied by meaningful cautionary
statements identifying important factors that could cause actual results to
differ materially from those projected in such statements.
All statements, trend analysis and other information contained in this
release relative to performance, trends in operations or financial results,
plans, expectations, estimates and beliefs, as well as other statements
including words such as “anticipate,” “believe,” “plan,” “estimate,” “expect,”
“intend,” “will,” “could” and other similar expressions, constitute forward-
looking statements under the Private Securities Litigation Reform Act of 1995.
In connection with certain forward-looking statements contained in this
release and those that may be made in the future, there are various factors
that could cause actual results to differ materially from those set forth in
any such forward-looking statements. The forward-looking statements contained
in this release were prepared by management and are qualified by, and subject
to, permitting, significant business, economic, financial, competitive,
environmental, regulatory and other uncertainties and contingencies, all of
which are difficult or impossible to predict and many of which are beyond the
control of the Company. Accordingly, there can be no assurance that the
forward-looking statements contained in this release will be realized. The
forward-looking statements in this release reflect the opinion of the
management as of the date of this release. Readers are hereby advised that
developments subsequent to this release are likely to cause these statements
to become outdated with the passage of time or other factors beyond the
control of the Company. The Company does not intend, however, to update the
guidance provided herein prior to its next release or unless otherwise
required to do so. Readers of this release should consider these facts in
evaluating the information contained herein. In addition, the business and
operations of the Company are subject to substantial risks, including but not
limited to risks relating to liquidity and cash flows, which increase the
uncertainty inherent in the forward-looking statements contained in this
release. The inclusion of the forward-looking statements contained in this
release should not be regarded as a representation that the forward-looking
statements contained in the release will be achieved. In light of the
foregoing, readers of this release are cautioned not to place undue reliance
on the forward-looking statements contained herein.
Additional information concerning the potential risk factors that could
affect the Company’s future performance are described from time to time in the
Company’s periodic reports filed with the SEC, including, but not limited to,
its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.
For further information, contact:
Gregory Harrison, Vice-President
Diamondhead Casino Corporation
Office: (301) 948-7354
Cell: (301) 775-3602
SOURCE Diamondhead Casino Corporation