HOUSTON, April 28, 2006 (PRIMEZONE) -- Nevada Gold & Casinos, Inc. (AMEX:UWN) today announced that on April 26, 2006, the New York State Racing and Wagering Board granted a temporary conditional track license to Nevada Gold NY, Inc. on behalf of Tioga Downs. The license enables Tioga Downs to continue the current construction and development schedule. Issuance of a final license is subject to compliance with various conditions.
Nevada Gold & Casinos, Inc., through Nevada Gold NY, Inc., owns a 40% membership interest in American Racing and Entertainment, LLC. American Racing owns the Tioga Downs Racetrack in Nichols, New York.
John A. Arnesen, President & COO of Nevada Gold & Casinos, Inc., commented, "Receiving this temporary conditional license marks an important step in our progress at Tioga Downs. We continue to be very excited about bringing this racing and entertainment facility to the region."
Forward-Looking Statements
This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We use words such as "anticipate," "believe," "expect," "future," "intend," "plan," and similar expressions to identify forward-looking statements. Forward-looking statements include, without limitation, our ability to comply with the various conditions required by the State of New York Racing & Wagering Board, to increase income streams, to grow revenue and earnings, and to obtain additional Indian gaming and other projects. These statements are only predictions and are subject to certain risks, uncertainties and assumptions, which are identified and described in the Company's public filings with the Securities and Exchange Commission.
About Nevada Gold & Casinos
Nevada Gold & Casinos, Inc. (AMEX:UWN) of Houston, Texas is a developer, owner and operator of gaming facilities and lodging and entertainment facilities in Colorado, California, Oklahoma, and New York. The Company owns a 43% interest in the Isle of Capri-Black Hawk LLC, which owns Isle of Capri-Black Hawk and Colorado Central Station, both of which are in Black Hawk, Colorado. Colorado Grande Casino in Cripple Creek, Colorado is wholly owned and operated by Nevada Gold. The Company owns a 40% interest in the Tioga Downs Raceway in New York State and has a management contract for the facility. The Company also works with Native American tribes in a variety of capacities from the right to lease gaming equipment to development and management of their gaming properties. Native American projects consist of River Rock Casino in Sonoma County, California, a casino to be built in Tulsa, Oklahoma for the Muscogee (Creek) Nation, a casino to be built in Pauma Valley, California for the La Jolla Band of Luiseno Indians and a casino to be developed by Buena Vista Development Company, LLC in the city of Ione, California for Buena Vista Rancheria of Me-Wuk Indians. For more information, visit http://www.nevadagold.com.
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