February 16, 2000
SAN DIEGO, CA -- Venture Catalyst Inc. (Nasdaq:VCAT) has announced that its Inland Entertainment division served
as an advisor to its client, the Barona Band of Mission Indians, throughout the process of securing an $18.89 million
municipal bond financing to fund the construction of a premier 18-hole golf course on the Barona Reservation in
San Diego County. Seattle-Northwest Securities Corp. served as placement agent in the transaction.
"The competition for placing this financing was quite intense, evidencing the high level of interest shown
by the financial community in California's Native American operations," said Andy Laub, Venture Catalyst's
executive vice president, corporate development. "Barona, our long-time client, is in the enviable position
of having what is considered by many to be the most successful casino operation in California. The addition of
a tournament-quality golf course promises to make the Barona Casino an even more popular Southern California destination.
We are proud that our full-service venture development model has once again given us the opportunity to provide
continuing services to Barona."
Jesse Smith, vice president of Seattle-Northwest Securities, statedl, "This financing is a watershed event
in the gaming finance world. To our knowledge, it is the first tax-exempt financing, as well as the first golf
course financing, to be completed related to a gaming operation conducted on California Indian land. Seattle-Northwest
Securities is proud to have served as placement agent for this offering."
The new golf course, situated on over 200 acres, was designed by internationally acclaimed golf course designer
Gary Roger Baird International, and is being built by Wadsworth Golf Construction Company, whose clients range
from the Augusta National Golf Club in Augusta, Ga., to Bighorn in Palm Desert, Calif.
Commenting on the financing, Clifford LaChappa, Barona Tribal Chairman, stated "With Venture Catalyst's ongoing
assistance, we have grown Barona Casino into the best casino in California. With the addition of this world-class
golf course, we look forward to offering our guests even more of the high quality and award-winning recreational
opportunities for which we have become known."
The Barona Casino has been the recipient of many recent awards, including "Best Indian Gaming Casino"
in The San Diego Union-Tribune's "San Diego's Best" Readers Poll for 1999, "Best Adult Attraction"
and "San Diego's Best Kept Secret" in "San Diego Magazine's" "Best of San Diego"
Reader's Poll, and the 1999 Finest Customer Service Award for Individual Visitor Services, given by the San Diego
Convention and Visitor's Bureau.
About Venture Catalyst Inc.
Headquartered in San Diego, Venture Catalyst Inc. (www.vcat.com) is a full-service
consulting company. Founded in 1991, Venture Catalyst (formerly Inland Entertainment Corp.) originated as a consultant
to Native American tribes and their respective gaming enterprises, and later expanded into all forms of consulting.
Through its Inland Entertainment division, Venture Catalyst provides the Barona Tribe with consulting services
in the areas of finance, public relations, marketing, governmental affairs, casino operations, human resources
and employee training.
Through its Venture Catalyst division, the company serves the strategic and growth needs of private and public
technology companies. Venture Catalyst provides investor relations, public relations and marketing, strategic planning,
state-of-the-art incubation facilities, as well as comprehensive Web development services through Cyberworks Inc.
(www.cyberworks.net), the company's wholly-owned subsidiary. Some of Venture
Catalyst's recent investments include Companyfinance.com (www.companyfinance.com)
and CraftClick.com (OTCBB:BUYT)(www.craftclick.com).
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CONTACT: Venture Catalyst Kelly Speer, 858/385-1000 kspeer@vcat.com