| 04/11/2003 - Cayuga Nation and Alpha Hospitality File "Land to Trust" Application with BIA NORTHBROOK, Ill.--(BUSINESS WIRE)--April 11, 2003--On April 10, 2003, the Cayuga Nation of New York and Alpha Hospitality Corporation ("Alpha Hospitality") (Nasdaq:ALHY - News; BSE:ALH - News) and its affiliate, Catskill Development LLC, officially filed with the Eastern Regional Office of the Bureau of Indian Affairs ("BIA"), an application requesting that the Secretary of the Interior acquire in trust on behalf of the Nation a 30-acre parcel of land in Monticello, New York to be used for gaming purposes.
This completed application fills six volumes and provides detailed information on every aspect of the proposed gaming project.
Importantly, the BIA has previously determined that this project qualifies for the vital "two-part" determination. The two-part determination established that:
1- "The project is in the best interest of the Native American
applicant" and;
2- "That the proposed casino site is not detrimental to the
surrounding community."
Tribal leader Clint Halftown said, "Our people are enthusiastic about proceeding with this project. It will greatly benefit the Nation by enabling us to improve important services including education, housing and health benefits -- and it will strengthen our culture."
To the extent the content of this press release includes forward-looking statements, they involve various risks and uncertainties including (i) the risk that various approvals necessary for consummation of the agreements described herein and required to be obtained from the Bureau of Indian Affairs, the National Indian Gaming Commission, the Governor of the State of New York and various other federal, State and local governmental entities are not received, (ii) the risk that financing necessary for the proposed projects may not be able to be obtained because of credit factors, market conditions or other contingencies, (iii) the risk that the Cayuga Nation may exercise certain broad rights with regard to termination of the within described agreements (iv) the risk that definitive agreements with Catskill Development LLC and its affiliates are not consummated as contemplated and that the proposed consolidation does not occur, (v) the risk of non-compliance by various counterparties of the related agreements, and (vi) general risks affecting Alpha Hospitality as described from time to time in it's reports filed with the Securities and Exchange Commission. Alpha Hospitality wishes to caution readers not to place undue reliance on such forward-looking statements, which statements are made pursuant to the Private Securities Litigation Reform Act of 1994, and as such, speak only as of the date made.
Source: Alpha Hospitality Corp.
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