HOUSTON, June 26, 2006 (PRIMEZONE) -- Nevada Gold & Casinos, Inc. (AMEX:UWN) today announced that the New York State Lottery has approved a license to operate 750 video gaming machines at Tioga Downs Raceway. The June 28, 2006 opening of the new 19,000 square foot gaming facility represents the final step of Tioga Downs. Earlier this month, Tioga Downs celebrated the opening of a new 90,000 square foot grandstand, bringing restaurants, lounges, arcades, entertainment, retail, live racing and simulcasting to the Binghamton and surrounding areas.
John Arnesen, President and Chief Operating Officer of Nevada Gold & Casinos, Inc., commented, "The gaming facility is one of the key components of Tioga Downs, and we are very happy to mark the completion of this process with such a compelling entertainment offering. Since Tioga Downs' opening weekend we have seen attendance exceed our expectations, and we believe that the opening of our gaming facility will further enhance the appeal of this premier entertainment destination."
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 Racetrack & Vernon Downs Racetrack 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 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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