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April 5, 2004; New York, NY - All bets are on that the next owner of the Phoenix Suns basketball team will be one of the top casinos on the World Wide Web. Casino Fortune (www.casinofortune.com) executives yesterday submitted letters of intent to Suns owner Jerry Colangelo and enlisted the help of Lehman Brothers Holding Inc. to assist them in the purchase of the famed sports club.

For the past year, Casino Fortune has been searching for a suitable professional sports team to own. The recent revelation that the Phoenix Suns were officially up for sale prompted Casino Fortune senior vice president, Dennis Rose to seize the opportunity.
Casino Fortune is the oldest casino on the World Wide Web and one of the top three industry leaders in online entertainment. With a majority of their clients residing within the United States, Casino Fortune leadership decided the time is right to further invest in American leisure and entertainment.

"We are in a position to purchase one of the greatest teams in basketball, and hope that it will be the Suns," said Casino Fortune senior vice president, Dennis Rose. "One of our first objectives will be to facilitate the retirement of number 34, and pay tribute to Charles Barkley. If we arent successful with the Suns, the Miami Heat are next on our wish list."

"We will buy a professional team this year, where all uniforms will be branded with our logos. We are one of the few online casinos that don't allow any wagers on sports events, and that is because our business model has always anticipated us buying a sports team in the U.S."

Recent salary dumps and the $50 million arena renovation caused the team to become more appealing. Rose and his management team intend to keep the Suns in Phoenix. They hope to acquire the Suns in time for the 2005 season.

 

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