Company Press Release
May 5, 2000
HOUSTON, TX -- Nevada Gold & Casinos Inc. (OTCBB:UWIN; BSE:UWN), a resorts and entertainment company, announced
yesterday that it has commissioned an international hospitality consulting and appraisal firm -- HVS International
(a division of H & R Services Inc.), to conduct a market feasibility study and appraisal for a proposed Black
Hawk Resort Complex.
Black Hawk, Colo., was the highest performing U.S. gaming region in 1999. The Black Hawk casino industry currently
leads the Colorado gaming market, controlling a 69 percent market share.
``We see this as a lucrative opportunity for us to further capitalize on the rapidly expanding entertainment market
in Black Hawk, Colo.,'' says H. Thomas Winn, president and CEO of Nevada Gold & Casinos Inc. ``As Black Hawk
continues to thrive and grow there is going to be an increased demand on the community to provide the necessary
services for both citizens and tourism. With a resort community, we can supply the growing area with new jobs,
entertainment and recreation, and a wide range of housing and business conferencing services to help spur and support
the already robust growth.''
UWIN's proposed complex would be located on its 260-acre parcel of land in Black Hawk, Colo. The objective of the
feasibility study is to evaluate the market demand, analyze the economics and to recommend the appropriate facilities
for the property. HVS will review the potential opportunity for hotel, conference center, resort, golf course,
time share, and residential development, including various options with high end single family homes, multi-unit,
and employee housing. HVS estimates this study will be completed within sixty days.
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, and it owns a majority interest in Vacationwish.com
Inc. Vacationwish.com is a Web site (currently 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 preferences to ultimately fulfill their ``vacation wishes.''
UWIN's stock is traded on the NASD 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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