PETOSKEY, Mich., July 28, 2010 (GLOBE NEWSWIRE) -- Rotate Black, Inc. (OTCBB:ROBK), a premier development and management company of resort and casino properties, announced today that the Gulfport Planning Commission has approved a request by the City of Gulfport to rezone and change six acres of privately owned property from general business to entertainment and gaming.
Pending City Counsel approval on August 3rd, Rotate Black will continue to move the process forward with the Mississippi Gaming Commission for site approval.
Voting in favor of both issues were commissioners William Prince Jones, Jacques Pucheu, B.J. Sellers, Keith Williams, John Johnson and Gerald Favre. Martin Warren recused himself and 4 other members were absent. Dual Cooper, President of Rotate Black, Inc., commented, "I am pleased with the Commissioner's commitment to growth and I am eager to be back in the Gulfport community."
Rotate Black Inc.'s intended use of this waterfront property will be completed in two phases. Phase I will be the permanent docking of "The Big Easy" luxury cruise ship hosting a casino, restaurants and entertainment. Phase II calls for the construction of a land-based casino resort.
Tax revenue to Gulfport is projected to be $2.4 million a year under Phase I and $4.2 million when completed. The projects are expected to bring 1,500 full time jobs to the area.
About Rotate Black, Inc.
Rotate Black, Inc. (OTCBB:ROBK) is a premier development and management company of resort and casino properties. The Company makes investments specifically targeted towards the gaming industry, seeking to maximize total return from capital appreciation and income. The management and Board of Directors have extensive experience in successfully developing and managing resort properties.
Forward-Looking Statement
Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such, speak only as of the date made. Rotate Black, Inc. disclaims any obligation to update the forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date stated, or if no date is stated, as of the date of this press release.