HOUSTON, Sept. 5, 2006 (PRIMEZONE) -- Nevada Gold & Casinos, Inc. (AMEX:UWN) announced today that the opening of Vernon Downs Racetrack included a crowd of over 12,000 fans and invited guests. The opening weekend included magicians, jugglers, clowns, and live music, ending with a spectacular fireworks display every night.
Eric Persson, Regional Vice President and General Manager of Vernon Downs, said, "We are very excited about the huge number of people that came out to witness the re-opening of Vernon Downs. I want to personally thank the city of Vernon officials, as well as New York State officials, in joining us to help bring racing back to Vernon Downs."
John Arnesen, President and Chief Operating Officer, added, "Nevada Gold is happy to be involved in New York's racing and gaming initiatives. We look forward to adding VGMs in late October and further development of Vernon Downs with our team members and New York State."
Post Time was 6:50 p.m. for each night's live racing and on Thursday, the first 1,500 patrons to sign up for the players club program received a free gift. Vernon Downs employs approximately 400 people from the surrounding areas.
Nevada Gold & Casinos, Inc., through its subsidiary Nevada Gold NY, Inc., owns a 40% interest in American Racing and Entertainment, LLC. American Racing owns 90% of Vernon Downs Acquisition, LLC, which owns the Vernon Downs Racetrack in Vernon, New York. The other members of American Racing are Southern Tier Acquisitions II, LLC, TrackPower, Inc. and Oneida Entertainment LLC, each holding 20% membership.
Forward-Looking Statements
This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We use words such as "anticipate," "believe," "expect," "future," "intend," "plan," and similar expressions to identify forward-looking statements. Forward-looking statements include, without limitation, our ability to increase income streams, to grow revenue and earnings, and to obtain additional Indian gaming and other projects. These statements are only predictions and are subject to certain risks, uncertainties and assumptions, which are identified and described in the Company's public filings with the Securities and Exchange Commission.
About Nevada Gold & Casinos
Nevada Gold & Casinos, Inc. (AMEX:UWN) of Houston, Texas, is a developer, owner and operator of gaming facilities and lodging entertainment facilities in Colorado, California, and New York. The Company owns a 43% interest in the Isle of Capri-Black Hawk LLC, which owns Isle of Capri-Black Hawk and Colorado Central Station, both of which are in Black Hawk, Colorado. Colorado Grande Casino in Cripple Creek, Colorado, is wholly owned and operated by Nevada Gold. The Company owns a 40% interest in the Tioga Downs Racetrack & Vernon Downs Racetrack in New York State and has a management contract for both facilities. The Company also works with Native American tribes in a variety of capacities. Native American projects consist of River Rock Casino in Sonoma County, California, a casino to be built in Tulsa, Oklahoma, for the Muscogee (Creek) Nation, a casino to be built in Pauma Valley, California, for the La Jolla Band of Luiseno Indians and a casino to be developed by Buena Vista Development Company, LLC in the city of Ione, California, for Buena Vista Rancheria of Me-Wuk Indians. For more information, visit www.nevadagold.com.
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