Black Hawk, Colorado's January 2001 Gaming Revenue of $35.9 Million Continues To Demonstrate Growth in the Market

Press Release: Nevada Gold & Casinos, Inc.
March 5, 2001
HOUSTON, TX -- Nevada Gold & Casinos, Inc. (OTC Bulletin Board: UWIN) reports the continued growth of the Black Hawk gaming market with January, 2001 revenue of $35.9 million or 70.5% of the state's total Adjusted Gross Proceeds (AGP) (announced by the Colorado Division of Gaming). The numbers demonstrate an increase from January 2000 revenue of $32.8 million, or 9.5%. The State of Colorado's three gaming towns reported total gaming revenues for January 2001 of $50.9 million, with Cripple Creek reporting $9.9 million and Central City reporting $5.0 million.

``The Black Hawk and surrounding areas continue to post big jumps and clearly Colorado is positioned as a gaming venue now and for the future. We believe the City of Black Hawk will continue to demonstrate its ability to grow into a destination resort community, providing visitors additional recreational and resort experiences,'' states H. Thomas Winn, President, Nevada Gold & Casinos.

Nevada Gold & Casinos, Inc. currently owns 43% of the Isle of Capri Casino-Black Hawk in a joint venture with Isle of Capri Casinos, Inc. (Nasdaq: ISLE), a premier operator of middle market casinos.

About UWIN

The venture's luxury 237-room hotel, which is above the existing casino, opened in August 2000. The company also controls approximately 260 acres of undeveloped real estate contiguous to Black Hawk, Colo., which it intends to develop into a master-planned golf resort community. In addition, UWIN owns over 850 acres of New York's Wellesley Island (located on the St. Lawrence Seaway) to develop a resort site with a potential Indian-based casino. UWIN also owns approximately 30 percent of Restaurant Connections International Inc. (RCI), which owns and operates 19 Pizza Hut restaurants in Sao Paulo, Brazil.

For more information about UWIN, Isle of Capri - Black Hawk and RCI, please visit UWIN's Web site at www.nevadagold.com.

Except for historical information contained in this release, certain matters set forth in this press release 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, and other risks detailed in the Company's SEC reports.

SOURCE: Nevada Gold & Casinos, Inc.