HOUSTON, June 12, 2006 (PRIMEZONE) -- Nevada Gold & Casinos, Inc. (AMEX:UWN) announced that Friday's opening of Tioga Downs Raceway hosted a crowd of over 7,000 fans and invited guests. Tioga Downs is located in the Southern Tier in Nichols, New York, near Binghamton.
Eric Persson, Regional Vice President and General Manager of Tioga Downs said, "Attendance for the weekend approached 20,000, beating even our own expectations, with attendance for Friday's opening day of racing and simulcast well over 7,000."
The first 1,500 patrons received a free t-shirt, which were handed out within the first 40 minutes of opening. Post Time was 6:50 p.m. for Friday night's live racing and included eleven races with an average purse of $7,500. The inaugural weekend hosted 36 total races with $300,000 at stake.
On June 28, in addition to harness racing and dining, Tioga Downs, which employs approximately 350 people from the surrounding area, will feature 750 video lottery terminals.
John Arnesen, President and COO, stated, "The atmosphere at the opening was electric and confirms our belief in this market. With the addition of VLT's later this month, we expect even greater success. We believe today marks a milestone for the company, as Tioga Downs is one of many compelling projects that will be instrumental in facilitating our growth and building shareholder value over the long term."
Nevada Gold & Casinos, Inc., through its subsidiary Nevada Gold NY, Inc., owns a 40% membership interest in American Racing and Entertainment, LLC. American Racing owns 100% of Tioga Downs Racetrack, LLC, which owns the Tioga Downs Racetrack in Nichols, New York.
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 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 and 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 & Vernon Downs Raceway in New York State and has a management contract for both facilities. 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 Luisenyo 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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