Company Press Release
June 19, 2000
HOUSTON, TX -- Nevada Gold & Casinos Inc. (OTCBB:UWIN; BSE:UWN)
Nevada Gold & Casinos Inc. (OTCBB:UWIN; BSE:UWN), a resorts and entertainment company, announced Friday
the continued growth of its Isle of Capri Casino holdings in Black Hawk, Colo. UWIN, which holds a 43 percent equity
stake in the Isle of Capri Black Hawk, reports that its share of the casino's net income for the twelve month operating
period ending 4/30/00 totaled $3,700,126. More impressively, $1,456,462 was earned in the final quarter ending
4/30/00, reflecting strong improvements in both operating margins and total revenue. These results reflect net
income for UWIN's quarter ending 3/31/00 of $1,311,760, which is the equivalent of $0.12 per common share. The
quarter included Isle of Capri Black Hawk earnings through 4/30/00.
The Isle of Capri Black Hawk Casino, recorded total revenue of $93,185,000 for the year ended 4/30/00, of which
$27,132,000 was reported for the fourth quarter. This revenue resulted in fiscal year net income of $8,604,946
and a fourth quarter total of $3,387,123. Isle of Capri Black Hawk's EBITDA for the year equaled $25,209,000, of
which $7,754,000 came during the final quarter.
``This performance reflects the first quarter without the burden of the pre-opening expense adjustment of Isle
of Capri Black Hawk,'' says H. Thomas Winn, president and CEO of Nevada Gold & Casinos Inc. ``This has enabled
us to have, by a significant margin, our most profitable quarter ever. Our short term goal is to pursue listing
on the Nasdaq or American Stock Exchanges.''
Black Hawk, Colo., was the highest performing U.S. gaming region in 1999 and currently leads the Colorado gaming
market with a 69 percent market share, according to the Colorado Division of Gaming.
About UWIN
UWIN currently owns 43 percent of the Isle of Capri Casino - Black Hawk, the largest casino in Colorado, through
a joint venture with Isle of Capri Casinos Inc. (Nasdaq:ISLE). The venture's new 237-room hotel, which is above
the existing casino, is expected to open in early August 2000. The company owns approximately 240 acres of undeveloped
real estate contiguous to Black Hawk, Colo., which it intends to develop into a master-planned resort community.
In addition, UWIN has purchased over 800 acres of New York's Wellesley Island to develop a resort site with a potential
Indian-based casino. UWIN also controls approximately 30 percent of Restaurant Connections International Inc. (RCI),
which owns and operates 19 Pizza Hut restaurants in Sao Paulo, Brazil.
UWIN's stock is traded on the Over-the-Counter Bulletin Board under the symbol UWIN. It also began trading on the
Boston Stock Exchange (BSE) on December 10, 1999, under the symbol UWN. For more information about UWIN, Isle of
Capri - Black Hawk and RCI, please visit UWIN's Web site at www.nevadagold.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking
information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements that include the words ``believes,'' ``expects,''
``anticipates'' or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties
and other factors that may cause the actual results, performance or achievements of Nevada Gold and Casinos Inc.
(the Company) to differ materially from those expressed or implied by such forward-looking statements. (Such factors
include, among others, the risk factors contained in the company's Annual Reports and other filings with the Securities
and Exchange Commission.) In addition, description of anyone's past success, either financial or strategic, is
no guarantee of future success. The Company will remain dependent upon future financing for its growth and development,
and for it to successfully implement its business plan. No statement contained herein should be construed as indicating
that such financing is or will be available, and if available, will be on terms favorable to the Company. This
news release speaks as of the date first set forth above and the Company assumes no responsibility to update the
information included herein for events occurring after the date hereof. Merger Communications (Merger) is a media
relations firm employed by the Company. Merger and the Company believe that all information in this release has
been obtained from sources considered reliable, but cannot guarantee that the statements presented herein are accurate
or complete. According to the long-term agreement between Merger and the Company, Merger's compensation for its
financial media relations services, which includes the preparation and distribution of press releases, consists
of 5,667 shares of the Company's free trading stock and 7,999 shares of the Company's restricted stock for the
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