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Argosy Gaming Appoints Senior Vice President of Development

22 January 2003

ALTON, Illinois – (Press Release) -- Argosy Gaming Company (NYSE: AGY) today announced the appointment of Joy Berry as Senior Vice President of Development, a newly created position. Ms. Berry will report directly to Richard J. Glasier, Argosy's President, who was recently elected to succeed Jim Perry as Chief Executive Officer, effective May 2, 2003.

"Joy Berry will draw on her development experience to shape our strategy, and will play a pivotal role as it grows and evolves," Mr. Glasier stated. "In particular, her broad and diverse knowledge of and success in the gaming and hospitality business will be instrumental to Argosy as we capitalize on development opportunities in 2003 and beyond."

Ms. Berry joins Argosy from Marriott International, where she was Regional Vice President of Development responsible for hotel development in the western region of the United States and Canada. Over the past five years, her efforts led to the addition of approximately 175 new hotels.

As President of Bonanza Realty, Inc., from 1991-1996, Ms. Berry headed up the effort that led to the acquisition of the Evansville, Indiana casino license for Aztar Corporation. Her responsibilities included identifying the markets, land acquisition, and coordinating the local and state selection process, as well as the design and construction planning.

Prior to Bonanza, Ms. Berry served as Vice President of Real Estate and Development at Ramada International Hotels & Resorts, Inc.

Mr. Glasier concluded, "Argosy has a well-earned reputation for operational excellence and sound investment of capital. These provide a solid foundation for an increasing strategic focus on development activities and Joy is a terrific addition to the Argosy senior management team."

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 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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