$7.5 million of the purchase price will also be held in escrow for three years to cover any potential obligations of the company after the sale is completed.

Silvermark LLC is a New York-based company which also owns the Veneto Hotel and Casino in Panama and the Veneto Casino at the Holiday Beach Resort in Curacao.

Miami Jai-Alai’s casino, which was completed earlier this year, currently offers 1,000 slot machines.

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