Company Press Release: Nevada Gold & Casinos, Inc.
HOUSTON, Feb. 16 /PRNewswire/ -- Nevada Gold & Casinos, Inc. (OTC Bulletin Board: UWIN; BSE: UWN), a resorts
and entertainment company, today announced that the Isle of Capri Casino in Black Hawk, Colorado, generated gross
revenues of $70,774,000, EBITDA after operating lease of $17,455,000, and net income of $5,215,000 for the nine
months ended January 23, 2000. Nevada Gold & Casinos holds a 43% stake in the Isle of Capri Casino in Black
Hawk in a joint venture with Isle of Capri Casinos, Inc. (Nasdaq: ISLE) which owns 57%.
``Results for the nine months have come in above our expectations,'' said H. Thomas Winn, President and CEO. ``We
are proud of these results and that we are on track to report EBITDA after operating lease of $20 million for the
full twelve-month period. With the hotel addition scheduled to open to the public in August, we expect continued
positive results at the casino in the future.''
Black Hawk is considered Colorado's primary gaming destination. The Isle of Capri Casino - Black Hawk has 1,100
slot machines. The outstanding results were led by a rising Average Daily Win Per Slot. Daily Win Per Slot has
grown to over $200 in the last three months. Slot revenues for the nine months ended January 23rd totaled $60,389,000.
The 237-room hotel which is scheduled to open in early August will result in further increased revenues to the
Isle of Capri Casino in Black Hawk.
In addition to its 43% interest in Isle of Capri Casino - Black Hawk, Nevada Gold & Casinos, Inc. owns approximately
240 acres of undeveloped real estate contiguous to Black Hawk, Colorado, which it intends to develop into a master-plan
resort community. The Company also owns an approximate 30% interest in Restaurant Connections International, Inc.
(RCI), which owns and operates 19 Pizza Hut restaurants in Sao Paulo, Brazil, and a majority interest in Vacationwish.com,
Inc. Vacationwish.com is a Web site under development that will automatically match users with lodgings, special
interest travel choices and content, home and timeshare exchanges, and other travel choices that closely fit all
of their personal preferences to ultimately fulfill their ``vacation wishes.''
Trading on the Boston Stock Exchange (BSE) began on Friday, December 10, 1999, under the symbol UWN. The Company's
stock also continues to trade on the NASD Over-the-Counter Bulletin Board under the symbol UWIN.
For more information about Nevada Gold & Casinos, Inc., Isle of Capri - Black Hawk, and RCI, visit UWIN's Web
site at http://www.nevadagold.com.
Except for historical information contained in this release, certain matters set forth in this press release, including
but not limited to revenue projections and specifics of new business development, are forward-looking statements
that are subject to risks and uncertainties, including government regulation and taxation, customer attendance
and spending, competition, capital resources, general economic conditions, international currency fluctuations,
and other risks detailed in the Company's reports filed with the Securities and Exchange Commission.
Contact: H. Thomas Winn, CEO of Nevada Gold & Casinos, Inc., 713-621-2245; or Alan Woinski of Gaming Venture
Group, 201-599-8484; or Fran Daniels of Financial Sciences of America, 310-278-4413, for Nevada Gold & Casinos,
Inc.
SOURCE: Nevada Gold & Casinos, Inc.