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Black Hawk, Colorado's May Gaming Results Up

20 June 2002

HOUSTON, Texas – (Press Release) -- Nevada Gold & Casinos, Inc. (Amex: UWN) announced the Black Hawk gaming market grew approximately 12% in May 2002 to $44.1 million compared to $39.4 million in May 2001, as reported by the Colorado Division of Gaming.

Black Hawk's casinos generated approximately 72% of gaming revenue in the state in May 2002, compared to 71% in the prior year period. Statewide May gaming revenue reached $61.1 million, an increase of 9.4% from May 2001.

President and CEO, H. Thomas Winn, said, "We continue to be excited about the growth rate of the Black Hawk market."

Nevada Gold & Casinos, Inc. of Houston, Texas is 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 is assisting the Dry Creek Band of Pomo Indians in developing the River Rock Casino, Alexander Valley-planned for opening in 2002 in Sonoma County (about 70 miles north of San Francisco in the California wine country).

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