Press Release: Equus Gaming Company, L.P.
December 29, 2000
SAN JUAN, Puerto Rico -- Equus Gaming Company, L.P. (Nasdaq: EQUUS; ``The Company'') is a publicly traded partnership
with thoroughbred horse racing and entertainment interests in Latin America and the Caribbean.
The Company, a Virginia limited partnership, announced that it has completed a private offering of $6 million Class
A Units for $1 per unit to Wilson Securities Corporation, a corporation controlled by the family of James J. Wilson.
Approximately $4.8 million of the net proceeds will be contributed to Equus' subsidiary, Housing Development Associates
S.E. (HDA), which will pay overdue interest on mortgage notes issued by HDA's subsidiary El Comandante Capital
Corp. The notes are guaranteed by HDA and secured by a mortgage on El Comandante Race Track, which is owned by
HDA. Interests became due on the notes on December 15, 2000, subject to a 30-day cure period. The transaction will
also permit HDA to transfer to Equus Gaming Company L.P. ownership of two HDA subsidiaries -- Agency Betting Network,
Inc. (ABN) and Satellite Services International Inc. (SSI) -- and thereby better fund the development of a comprehensive
satellite video and data transmission system for OTB agencies in Equus' operations in Puerto Rico, the Dominican
Republic, Panama and Colombia. Another $1.2 million of the net proceeds will fund additional investment in the
Los Comuneros Race track in Colombia and a new investment to restore the Maronas racetrack in Montevideo, Uruguay.
SOURCE: Equus Gaming Company, L.P.