VCAT and the Buena Vista Rancheria of Me-Wuk Indians Enter into a Business Advisory Agreement
SAN DIEGO--(BUSINESS WIRE)--Feb. 1, 2005--Venture Catalyst Incorporated ("VCAT")(OTCBB:VCAT) announced today that it has entered into a Business Advisory Agreement (the "Advisory Agreement") with the Buena Vista Rancheria of Me-Wuk Indians (the "Buena Vista Tribe"). Under the terms of the Advisory Agreement, VCAT will provide business advisory services to the Buena Vista Tribe in connection with establishing and operating the Buena Vista Tribe's gaming operation on its reservation located near Ione, in Northern California. The Advisory Agreement term ends on the six (6) month anniversary of the opening of the Buena Vista Tribe's casino; provided however, that said term may be extended upon the mutual written agreement of the parties, but in no event will the term of the Advisory Agreement exceed six (6) years and eleven (11) months. The Buena Vista Tribe may terminate the Advisory Agreement at any time by providing VCAT with sixty (60) days written notice.
"I am very happy to have the help of VCAT as we move forward with our plans to build a casino," said Rhonda L. Morningstar Pope, Tribal Chairwoman of the Buena Vista Rancheria. "VCAT is a top-notch firm and we are delighted to have them lend us their experience in our efforts to make Buena Vista Rancheria's gaming operation the very best."
"We are very excited to provide our unique insight and expertise to the Buena Vista Tribe and look forward to their resounding success in the future," said Greg Shay, VCAT's president and chief executive officer.
VCAT has filed with the Securities and Exchange Commission a Current Report on Form 8-K dated January 31, 2005, relating to the terms of the Advisory Agreement.
About Venture Catalyst Incorporated
VCAT is a provider of consulting services and technology in the gaming and hospitality market. VCAT is headquartered in San Diego, California.
Except for historical information contained herein, this release includes certain forward-looking statements. These statements are based on management's belief, as well as assumptions made by, and information currently available to, management. While VCAT believes that its expectations are based upon reasonable assumptions, there can be no assurances that VCAT's plans, objectives and financial goals will be realized. Numerous factors (including risks and uncertainties) may affect VCAT's actual results and may cause its plans and objectives to differ materially from those expressed in the forward-looking statements made by or on behalf of VCAT. Some of these factors include dependence on revenues from the Barona Tribe; the ability of VCAT to return to sustained profitability; VCAT's ability to recognize, develop and exploit additional business opportunities, including its Mariposa software; the ability to attract and retain key employees, including VCAT's Chairman L. Donald Speer II; and other factors detailed in VCAT's Form 10-KSB, Forms 10-QSB and other reports filed pursuant to the Securities Exchange Act of 1934, as amended. VCAT specifically disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.
Contacts
Venture Catalyst Incorporated, San Diego
Media Relations:
Kelly Jacobs, 619-933-5013
pr@vcat.com
or
Investor Relations:
Andrew Laub, 858-385-1000
ir@vcat.com
