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Black Hawk, Colorado's February Gaming Results Up

20 March 2002

HOUSTON, Texas –(Press Release) -- Nevada Gold & Casinos, Inc. (Amex: UWN) announced the Black Hawk gaming market grew approximately 16% in February 2002 to $41.5 million compared to $35.9 million in February 2001, as reported by the Colorado Division of Gaming.

Black Hawk's casinos generated over 74% of gaming revenue in the state in February 2002, compared to less than 70% in the prior year period. Statewide February gaming revenue reached $56.7 million, an increase of 10% from February 2001.

President and CEO, H. Thomas Winn, said, ``The growth in the Black Hawk market continues to exceed our expectations. We believe the depth of the regional drive-in market and the quality of the gaming properties will be key factors for Black Hawk's continued success.''

Nevada Gold & Casinos, Inc. of Houston, TX is primarily a developer of gaming properties, and has real estate interests in Colorado, California, Nevada, and New York. UWN owns a 43% interest in The Isle of Capri-Black Hawk, a 237-room hotel/casino about 35 miles west of Denver, through a joint venture with Isle of Capri Casinos, Inc. (Nasdaq: ISLE). Also, UWN has 51% ownership of Dry Creek Casino LLC, which assists the Dry Creek Band of Pomo Indians in developing their casino-planned for opening in 2002 in Sonoma County (about 70 miles north of San Francisco in the California wine country). UWN's other assets include over 850 acres on Wellesley Island, New York, and 240 acres contiguous to the City of Black Hawk, Colorado. UWN also owns approximately 30% of Restaurant Connections International, which owns Pizza Hut restaurants in Sao Paulo, Brazil.

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