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The Sands Regent Purchases Land for Rail City Expansion

RENO, Nevada – (PRESS RELEASE) -- The Sands Regent (Nasdaq: SNDS) announced today the purchase of 2.58 acres of land adjacent to its Rail City Casino property in Sparks, Nevada, which it had been leasing from the State of Nevada.

Plantation Investments, Inc., a subsidiary of The Sands Regent, signed a contract to acquire the land for $901,000. The Company expects to close escrow by the end of December. The land will be utilized in the expansion of the casino and food and beverage operations at Rail City, with plans to expand floor space by 23,500 square feet under a preliminary budget of $8.5 million. Initially, the property's current 650 slot machines will be increased to 850, with ultimate plans for a total of 1,000 games. Pending completion of the permit process with the city of Sparks, management plans to begin a six-month, phased construction process in early 2006 which is expected to take six months.

Upon close of escrow, the Company expects to record a $421,000 non-cash charge to income for the unamortized value of the intangible asset relating to the lease from the State of Nevada.

"We are excited about increasing capacity at Rail City, the most profitable and consistent performer in our portfolio of properties," commented Ferenc Szony, The Sands Regent's President and CEO. "We expect the new restaurant and bar that we plan to add, featuring a brew pub concept, will be very well received and will further enhance Rail City's performance."

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