Hollywood Casino Corporation Lists on Amex

Press Release: Hollywood Casino Corporation

July 30, 1999
DALLAS, TX -- Hollywood Casino® Corporation (Nasdaq: HWCC) has announced that it expects to begin trading on the American Stock Exchange commencing on Wednesday, July 28, 1999 under its new ticker symbol "HWD". The Amex approved the Company's listing application Tuesday, which facilitates a smooth transition from its current listing on the Nasdaq National Market System.

Jack E. Pratt, Chairman and Chief Executive Officer, stated "As our company enters a very exciting expansion phase, we are pleased to begin trading on the Amex. We have significant growth opportunities that provide us with an excellent outlook for the future. We look forward to executing our strategic business plan while developing a very strong and satisfying relationship with the Amex as we grow our company. We have selected Spear, Leeds & Kellogg, the largest specialist firm on the Amex trading floor, as our trading specialist."

The initial step under the Company's strategic business plan was accomplished in May 1999. The Company completed a refinancing of substantially all of its indebtedness at more favorable interest rates and provided significant capital necessary to execute its expansion plans. These plans include a new, $40 million dockside facility in Aurora, Illinois and the construction of a new, luxurious gaming and entertainment resort in Shreveport, Louisiana.

The Company's plan for its new dockside casino in Aurora includes a significant expansion of the gaming operation as a result of legislation recently passed by the Illinois legislature. The new facility is designed to capitalize on the opportunity to create a more "land-based'' feel for its floating casino while allowing gaming patrons the convenience to enter and exit the gaming facility without having to adhere to strict boarding and departure schedules. This more customer friendly atmosphere should allow for greater customer visitation through the facility and, as a result, greater utilization of the gaming equipment.

The Company has planned a luxurious 405 room all-suite Hollywood art deco- style hotel, gaming and entertainment resort for Shreveport, Louisiana, one of the fastest growing gaming markets in the country today. The Company has the necessary gaming license and has been approved by the Louisiana Gaming Control Board to proceed with this exciting project. When completed, this component of the strategic business plan will add a third major property to the

Company's Hollywood Casino® brand giving the Company a major presence in three of the largest emerging gaming markets.

Hollywood Casino Corporation owns and operates distinctive Hollywood- themed casino entertainment facilities under the service mark Hollywood Casino® in Aurora, Illinois and Tunica, Mississippi. The Company also has a license to develop, own, and operate a Hollywood-themed destination resort in Shreveport, Louisiana. The Company is one of the nation's largest collectors and exhibitors of motion picture memorabilia.

This press release contains forward-looking statements about the business, financial condition and prospects of the Company. The actual results could differ materially from those indicated by the forward-looking statements because of various risks and uncertainties including, among other things, changes in competition, economic conditions, tax regulations, state regulations applicable to the gaming industry in general or the Company in particular, and other risks indicated in the Company's filings with the Securities and Exchange Commission. Such risks and uncertainties are beyond management's ability to control and, the words "believes", "estimates", "anticipates" and similar expressions as they relate to the Company or its management are intended to identify forward-looking statements.