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Argosy Names New Senior Vice President of Operations

13 May 2003

ALTON, Illinois – (Press Release) -- Argosy Gaming Company (NYSE: AGY) today announced the appointment of Virginia McDowell to the position of Senior Vice President of Operations, pending regulatory approval.

McDowell, a member of the Argosy management team since she joined the company in 1997, was most recently Senior Vice President of Sales and Marketing and will retain her responsibilities for Marketing and MIS. McDowell replaces Jim Gulbrandsen in her new position. Gulbrandsen remains a Senior Vice President with the Company, but will focus more on Argosy's strategic growth by lending his operational expertise to the development team.

"Virginia has proven herself to be an invaluable asset to the company over the years," said Richard J. Glasier, President & CEO. "We're very pleased to have someone with her level of expertise to help Argosy as we move forward to the next level."

A seasoned executive with over twenty years of experience in the gaming industry, McDowell worked in Atlantic City for fifteen years prior to joining Argosy. She began her casino career as a publicist, and held senior management positions in public relations, entertainment and casino marketing before being promoted to Vice President of Business Development at Tropicana Casino and Resort, at the time the largest casino megafacility in Atlantic City. Prior to her gaming career, she served as a production assistant working in both radio and television at WCAU, the CBS network affiliate in Philadelphia, PA.

Argosy Gaming Company 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 Argosy Casino-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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