CANTON, Ohio, March 06, 2026 (GLOBE NEWSWIRE) -- Concrete Leveling Systems, Inc. (OTC ID: CLEV) (the “Company”), together with Jericho Associates, Inc. (“Jericho”), its gaming and hospitality division, is pleased to provide shareholders with an update regarding the Company’s current strategic direction and progress.

Company Overview
Jericho is a Nevada corporation formed as a special purpose entity focused on the acquisition, development, and operation of commercial and Tribal Government projects within the casino gaming, hospitality, entertainment, and leisure industries. In March 2017, Jericho entered into an agreement with the Company whereby Jericho became the Company’s gaming and hospitality division.

The Company is currently finalizing business terms for two separate Memorandums of Understanding (MOUs) related to its commercial gaming and hospitality initiatives.

Development Projects

Phase 1A Resort Development
The first MOU relates to Phase 1A of a potential 113-acre four-phase hotel and casino development including restaurants, entertainment venues, and related amenities. Each of the individual four phases will include a separate hotel and casino with many complimentary amenities to individually add charm and character to the overall four-phase hotel and casino project.

For Phase 1A, Jericho will identify financing resources, and develop and operate the casino and hotel resort facilities.   Planned Phase 1A resort amenities include slot machines and table games, sportsbook operations, restaurants and lounges, and entertainment venues.

Master-Planned Resort Development
The second MOU represents an update to a previously disclosed commercial gaming and entertainment development project located within an existing 1,100-acre master-planned resort community which currently includes 91 single-family homes, 120 condominium units, 88 sold building lots, an 18-hole championship golf course, tennis and pickleball courts, restaurants, beachfront access and related water sport amenities.

As part of this master-planned community, Jericho will develop and operate a casino and restaurants to be located in an area designed to best cater to a new internationally-branded resort hotel that will serve 140 guest rooms, 40 condominium unit residents, and the local community.

Executive Management Team

The Jericho Executive Management Team has a combined 140+ years of specialized U.S. domestic and international knowledge in:

• Identification and financing of gaming and hospitality properties utilizing key industry and capital market relationships;
• Resort destination development; and,
• Senior executive and management level casino and hospitality operating and marketing expertise for projects of comparable sizes and distinction.
  
  

Our Jericho Executive Management Team enthusiastically welcomes Anna M. Morrison, CPA, as our Chief Financial Officer and member of their Executive Management Team:

Anna M. Morrison, CPA
Directing high-level financial operations for diverse, multifaceted companies, assessing major acquisitions, managing regulatory filings and providing oversight of risk management and budgeting and reporting functions, has been the cornerstone of Ms. Morrison’s career for 30+ years. Ms. Morrison has served as an executive financial consultant to publicly traded Fortune 100 gaming and hospitality corporations in Las Vegas, and as the Board Secretary/Treasurer and Chief Financial Officer of a Las Vegas publicly held company (SEC/Nasdaq). During her tenure as the Chief Financial Officer and Corporate Controller for a privately held New Mexico production home builder, Ms. Morrison assisted the company in its expansion efforts into existing and new markets through the negotiation and closing of several operational financings. Ms. Morrison has also served as an Audit Manager and associate for PricewaterhouseCoopers LLP.

Strategic Outlook
Tribal gaming opportunities have become increasingly limited and can present significant barriers to entry. While such projects can offer substantial potential, they typically involve complex regulatory environments, political considerations and development challenges that require considerable time and coordination among all stakeholders.

As a result, certain previously pursued Tribal gaming initiatives have been placed on hold or shelved due to external factors including competing projects, shifting Tribal priorities and regulatory considerations.

Jericho’s management team continually evaluates both current and future commercial and Tribal gaming opportunities through a disciplined and iterative process to ensure that resources are allocated to the most strategically valuable and feasible gaming, hospitality, entertainment, and leisure initiatives.

The Company and its associates thank shareholders for their continued support and interest in CLEV and Jericho.

Contact
Ronald J. Tassinari, CEO
Jericho Associates, Inc.
Rjtass@hotmail.com

Notice Regarding Forward‑Looking Statements

This news release contains “forward‑looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

Statements that are not historical facts, including statements regarding beliefs, plans, expectations, or intentions regarding future events, including the completion of acquisitions, development initiatives, marketing efforts, products, or product sales, constitute forward‑looking statements.

Actual results may differ materially from those projected in forward‑looking statements due to various factors, including uncertainties associated with acquisitions, product development, market conditions, and other risks.

These forward‑looking statements are made as of the date of this news release, and the Company undertakes no obligation to update them. Although the Company believes that the expectations and assumptions reflected in these statements are reasonable, there can be no assurance that such expectations will prove accurate. Investors are encouraged to review all information made publicly available by the Company.

Nothing in this release should be interpreted as an indication of the Company’s future revenues, financial condition, or stock price.