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American Wagering to Acquire Sturgeon's Inn & Casino

21 June 2005

LAS VEGAS – (PRESS RELEASE) -- American Wagering, Inc. (OTC Bulletin Board: BETM ) today announced that AWI Gaming, Inc. ("AWIG"), a wholly owned subsidiary of the Company, has entered into a definitive agreement to purchase Sturgeon's Inn & Casino ("Sturgeon's").

Sturgeon's is a full service hotel, casino and restaurant operation located adjacent to Interstate 80 in Lovelock, Nevada (approximately 90 miles east of Reno, Nevada). The facility contains over 65,000 square feet including the following:

-- Casino area with 120 gaming devices, bar, cashier's cage, count rooms, vault area, video arcade, lounge area and public restrooms.

-- Restaurant area with total seating of 118, full kitchen, dish wash area, private dining or meeting area, storage areas and cashier's counter.

-- Motel with 74 units, covered porte-cochere, registration desk and lobby, indoor swimming pool, housekeeping and storage areas, laundry room and manager's apartment.

-- Banquet room known as the "Center Club" with stage, light and sound equipment, chairs, tables and storage areas.

The main facility is located on 3.580 acres, which includes the above facilities plus paved public parking. Adjacent to the main parcel is a gravel parking lot of 0.432 acres, bringing the total land area to 4.012 acres.

The Sturgeon's acquisition is expected to be accretive to the Company's operating results.

Victor Salerno, the Company's CEO and President, said, "One of our core growth strategies has been to broaden our revenue base and diversify cash flows. To this end, the Company recently formed AWI Gaming to search out and acquire hotel/casino operations that we believe will be accretive to overall operating results. The acquisition of Sturgeon's Inn & Casino meets these criteria and brings this established operation under the American Wagering umbrella, which we believe will benefit Sturgeon's day-to-day operations and our shareholders."

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