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Argosy Gaming Hires Royal Caribbean CFO

10 July 2002

ALTON, Illinois – (Press Release) -- Argosy Gaming Company (NYSE: AGY) today announced that it has appointed Richard J. Glasier to the position of President, Argosy Gaming Company. Glasier, 57, formerly held the position of Executive Vice President and Chief Financial Officer of Royal Caribbean Cruises, Ltd. (NYSE: RCL).

Throughout a distinguished career spanning over 30 years, Glasier has held various management positions in the cruise line, hotel, entertainment and gaming industries. While at Royal Caribbean Cruises Ltd., he was a key member of the management team that orchestrated Royal Caribbean's growth over the past 17 years from a Company with a fleet of 4 ships to 24 ships today and $11 billion in assets. Glasier received a Bachelor of Arts Economics Degree from Cornell College in 1967 and a MBA Finance Degree from Southern Methodist University in 1968.

James B. Perry, Chief Executive Officer, said, "We are extremely pleased to announce the addition of Richard Glasier as our new President and as a member of our management team. I have known Dick personally for 24 years and am excited to have the opportunity to work with Dick on developing the future of our Company. We are thrilled to have attracted someone of his caliber to our management team."

Richard Glasier commented, "I am excited to be joining a talented team that is well known and respected throughout the industry for its outstanding operations. I look forward to working closely with Jim, the management team, the employees, and the Board of Directors in developing future opportunities for the Company, its employees and its shareholders."

The appointment of Glasier to the position of President is subject to the approval and licensing of the various gaming boards and commissions in the jurisdictions in which the Company operates.

Argosy is a leading owner and operator of riverboat casinos and related entertainment and hotel facilities in the Midwestern and southern United States. Argosy owns and operates the Alton Belle Casino in Alton, Illinois, serving the St. Louis metropolitan market; the Argosy Casino-Riverside in Missouri, serving the greater Kansas City metropolitan market; the Argosy Casino-Baton Rouge in Louisiana; the Belle of Sioux City in Iowa; the Argosy Casino-Lawrenceburg in Indiana, serving the Cincinnati and Dayton metropolitan markets; and the Empress Casino Joliet in Illinois serving the greater Chicagoland market.

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