SOURCE: Rotate Black, Inc.
PETOSKEY, MI--(Marketwire - Dec 7, 2012) - Rotate Black, Inc. (PINKSHEETS: ROBK), a premier gaming and resort developer, is delivering on its commitment to drive shareholder value and long-term growth. Pursuant to that objective, the Company would like to provide a status report on its business plan, objectives and achievements.
The Company has filed its required 10Q SEC filings through March 31, 2012 and is in the process of preparing its 10K.
Since the last update, the Company has finalized the Gulfport construction contract, engaged additional ground leases and received its title insurance commitment and is in the final closing process. Closing is scheduled to occur prior to December 31, 2012.
The Company has also entered into a definitive agreement which provides for the full financing of its newly created subsidiary, SlotOne, LLC ("SlotOne").
Utilizing the Company's extensive experience managing casino gaming floors, SlotOne has a powerful competitive advantage of being able to identify slot floor deficiencies, retool for those deficiencies and increase overall revenue and earnings for any casino. With this advantage, SlotOne has been created to provide, own and operate slot machines on a revenue sharing basis with casinos throughout the US and the rest of the world.
About Rotate Black
Rotate Black, Inc. is a premier gaming and resort manager and developer based in Petoskey, MI. The Company's team boasts over 100 years of combined gaming experience in managing and developing casino resorts around the world.