Advance Cash In Daytona Beach

Consolidated Tomoka CEO to Retire

Mr. McMunn stated, "I have been honored to have worked for such a fine Company that has always focused on the best interest of our shareholders and our community as we planned and developed our lands.  The advance notice of my retirement date coupled with the commitment to provide consulting services in 2012 will allow for a seamless transition to the Company's new Chief Executive Officer."

The Board has retained Eton Partners, an executive search firm in annually before tax cash flow from its real estate portfolio.  The Company also engages in selective self-development of targeted income properties. The Company's adopted strategy is designed to provide the financial strength and cash flow to weather difficult real estate cycles.  Visit our website at www.ctlc.com .

"Safe Harbor"

Certain statements contained in this press release (other than statements of historical fact) are forward-looking statements.  The words "believe," "estimate," "expect," "intend," "anticipate," "will," "could," "may," "should," "plan," "potential," "predict," "forecast," "project," and similar expressions and variations thereof identify certain of such forward-looking statements, which speak only as of the dates on which they were made.  Forward-looking statements are made based upon management's expectations and beliefs concerning future developments and their potential effect upon the Company.  There can be no assurance that future developments will be in accordance with management's expectations or that the effect of future developments on the Company will be those anticipated by management.

SOURCE Consolidated-Tomoka Land Co.

Abruzzo Bill to be debated in Florida assembly | Online casinos ...

Florida politician Joseph Abruzzo's attempt to introduce a bill legalising intrastate online poker is likely to be debated in the next session of the state Assembly, which kicks off on March 8. If it is successful, Florida could have legalised online poker in the law books as early as July 1st, local media is currently suggesting.

Florida is facing a $4 billion budget deficit, and lawmakers are likely to have an appetite for strictly controlled internet poker with the potential to raise significant tax revenues.

California and New Jersey are also well-advanced with online gambling legislative moves, and Iowa is about to consider a similar strategy.

In Florida, Abruzzo's bill proposes that licensed dog and horse tracks and jai-alai frontons be permitted to create portals to legal online poker rooms. The state would get 10% of each card room's revenues, the same amount it gets now from live poker rooms.

"We want to legalize it, regulate it and bring the revenue to Florida," said Representative Abruzzo, a Democrat representing the Wellington district, this week. "To me it's common sense to protect our players."

Abruzzo's bill suggests that up to three sites would contract with the state as a hub, and websites of Florida's 23 pari-mutuels' with card rooms would act as portals. Players would have to navigate to one of the websites to play with a pool of other Florida players. The company that runs the hubs would take a rake from each pot and give it to the card rooms.

Daniel Francati, manager of the Daytona Beach Kennel Club & Poker Room, told the Daytona Beach News-Journal that he is for the proposal and is eager to benefit from a huge market.

"I think it'll help take Internet players and try to convert them into brick-and-mortar players," Francati said, comparing it to how a newspaper can use its website to lure readers to the print version. "You always have a question when people are playing online for money," he said. "How do you know they're paying if it isn't regulated?"

Francati has no problem with competing with offshore companies...provided they make commitments to invest in the state.

"The other guys want to have their cake and eat it," he said. "They don't pay taxes, have no employees -- if they want to play they should have an investment in the state of Florida."

The newspaper reports that a Senate committee report last month estimated net revenue of almost $37 million by the third year of regulated internet poker.