Florida Gaming Corporation (OTCBB: FGMG), announced today that the 'exclusivity period' under the Letter of Agreement ('Agreement') dated October 29, 2004, between Isle of Capri Casinos, Inc. ('Isle') and FGMG regarding FGMG's Miami Jai-Alai facility expired on July 29, 2008.
Pursuant to the terms of the Agreement, Isle had the exclusive right to negotiate for the purchase of the Miami Jai-Alai facility until the end of the exclusivity period.
FGMG is now exploring other options concerning a potential sale of the Company, or the operation of up to 2,000 Class III slot machines at the facility as currently authorized under Florida law.
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