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EUROPA CRUISES
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NEWS ANNOUNCEMENT
FOR IMMEDIATE RELEASE
EUROPA CRUISES CORPORATION ANNOUNCES UNAUDITED EARNINGS FOR THE PERIOD ENDED
MAY 31, 1998
Madeira Beach, Florida (July 3, 1998) -- Europa Cruises Corporation (NASDAQ:
KRUZ) today reported preliminary, unaudited net earnings of approximately
$1,088,000, before preferred dividends, for the five month period ending May
31, 1998 were approximately $7,426,000.
The Company also reported that its current cash position (as of June 29, 1998)
was approximately $940,000 and that the Company's payables (as of July 2, 1998)
were approximately $500,000.
Europa Cruises Corporation is one of the largest off-shore gaming operators in
the United States. It currently employs approximately 400 employees and owns
and operates gambling ships out of ports located in Miami Beach, Ft. Myers, and
Madeira Beach, Florida. In addition to blackjack, poker, slot machines, craps,
and sportsbetting, the cruises offer fine dining, dancing and entertainment.
For further information, contact:
John R. Duber, Director and
Director of Investor Relations
Europa Cruises Corporation
(440) 331-0194
(440) 331-0195
or
Alan R. Woinski, President
Gaming Venture Corp., U.S.A.
(201) 947-4642
