Issue 312
September 4 - September 10, 2006
Volume 6
page 2
 

Nevada Gold Reports Vernon Downs Racing Approval

Press Release

NEW YORK– Nevada Gold & Casinos, Inc. (AMEX:UWN), today announced that The New York State Racing and Wagering Board approved a request for racing to return to the Vernon Downs facility.

John Arnesen, President and Chief Operating Officer of Nevada Gold & Casinos, Inc., commented, ``After a considerable amount of time and effort by Jeff Gural in finalizing the horsemen's contract with the Harness Horse Association of Central New York, as well as the efforts of the Vernon Downs staff in getting the property ready, we are very pleased to announce the return of racing at Vernon Downs. We are looking forward to completing this facility, including the addition of VGM's (video gaming machines), which will bring new levels of racing, gaming and entertainment options to the Syracuse area. This approval is another important milestone in our New York gaming expansion efforts.'

In addition to approving a temporary conditional simulcast license, the New York State Racing and Wagering Board also allowed Nevada Gold to continue its day-to-day operations under a temporary conditional track license, which was initially issued on June 5, 2006. This action enables Nevada Gold to go forward with its VGM project and conduct live pari-mutuel racing.

Nevada Gold & Casinos, Inc., through its subsidiary, 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.

 

 

 


More Casinos for Mashantuckets-MGM Mirage Team
As reported by the Rhode Island Providence Journal

Connecticut – "A memorandum of understanding signed this spring by the Mashantucket Pequots and MGM Mirage, the publicly traded gaming colossus, lays out a plan for possibly more casinos in southeastern Connecticut, elsewhere in Indian Country, in Atlantic City or on the Las Vegas strip.

"The Mashantuckets and MGM envision, in addition to the $700-million expansion already under way at Foxwoods, the potential for more new casinos on the Connecticut reservation using MGM brand names and other nongaming, destination-resort development along Route 2 in North Stonington.

"The tribe announced its intention to partner with MGM in April. The memorandum, released by the state Division of Special Revenue in response to a Freedom of Information request by The Day, includes these provisions:

"The Foxwoods expansion, scheduled to open in 2008, will get an MGM brand name, probably MGM Grand. The Mashantuckets will have access to additional MGM casino hotel brand names for future expansions.

"…MGM and the Mashantuckets will establish a new entity, jointly owned, that could develop casino resorts all over the country, including the Las Vegas strip. A specific 14-acre site in Atlantic City now owned by MGM is one location mentioned as a possibility.

"…The National Indian Gaming Commission, which is required to approve anything considered to be a management contract with an Indian tribe, is also reviewing the Mashantucket/MGM memorandum, a spokesman said…"

Iowa Casino Ready to Open
As Reported by the Iowa City Press-Citizen

IOWA – "After 13 months of construction, the Riverside Casino & Golf Resort is ready to open to the public tomorrow.

"But the casino will first sbe made available to the investors and other VIPs who get to play table games and slot machines beginning at 5:30 p.m., or 30 minutes after the grand opening celebration.

"Then, at 9 p.m., the $140 million facility 14 miles south of Iowa City is open to everyone else.

"…Officials estimate 1.6 million people a year will visit the casino and resort. It is staffed by between 900 and 950 employees, about 45 percent of whom are from Washington County.

"They expect more than 1,000 people at today's grand opening program in the Event Center…"

Santana

Borgata Hotel Casino & Spa: After his success during the 1960's and into the 70's, Carlos Santana transitioned to a more reflective and jazzy style. By 1999 however, Santana staged a monumental comeback with "Supernatural" and won 8 of its 11 Grammy nominations. He will be performing with special guest Los Lonely Boys at the Borgata Event Center on Saturday and Sunday September 23rd and 24th.

Date: September 23-24, 2006

Time: Saturday and Sunday 7 pm

Ticket Price: $75.50, $95.50, and $125.50

For more information: (609) 317-1000

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