Bruce Hotel and Casino to Re-Open Under the Name Miramar

(PRESS RELEASE) - Walnut, CA – Chilco River Holdings, Inc. announced that it is changing the name of its prestigious Bruce Hotel and Casino to the Miramar Hotel and Casino. Located in the heart of the tourist district in Lima, Peru, the casino is currently undergoing a major expansion and will offer 300-350 slot machines and a poker room in addition to its 22 pre-existing table games upon completion. Before closing for renovations, the Miramar was renowned as one of the premier casinos in the budding South American gaming market with revenues in excess of $10,000,000 and profits greater than $4,000,000.

Chilco recently finalized a deal with Chung Lien Investment Management Limited out of Hong Kong to secure the necessary funding to complete the renovation of the Miramar. The completion of this arrangement will allow Chilco to meet its goal of holding the grand opening of the Miramar's casino in August.

To celebrate the Miramar's grand re-opening, the company will be holding a contest for a four-night stay at the hotel. In addition to the hotel accommodations, the grand prize winner will also receive a round-trip travel package for two to Peru, VIP tickets to the grand re-opening party, meal vouchers, and casino comps.

"In Spanish, Miramar means, roughly, 'water view' or 'ocean view,'" explains Tom Liu, Chief Executive Officer, Chilco River Holdings. "Given that many of the hotel's sixty rooms and suites offer ocean views and the refurbished casino will feature a water theme, we felt that the new name more aptly describes the property."

Chilco River Holdings, Inc. is a diversified, Peruvian-based, U.S. listed gaming company. Chilco owns and operates Lima's Miramar Hotel and Casino, the second largest casino in Peru, one of only seven licensed casinos in the country. It has developed its own line of low-priced, proprietary slot machines which are licensed in Venezuela, Columbia, Chile and Peru. The company is in the late stages of development on a Spanish-language and Chinese-language interactive poker website and it has made a significant investment in the research and development of a wireless poker gaming station.