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Black Hawk Gaming CEO Offer Deadline Withdrawn

26 March 2001

BLACK HAWK, Colorado – (Press Release) -- March 26, 2001 -- Casino operator Black Hawk Gaming and Development Co. Inc. (NasdaqNM:BHWK) said on Monday a deadline for chief executive officer and part-owner Jeffrey Jacobs to buy remaining shares of the company had been withdrawn.

The company said Jacobs, who last month offered to buy outstanding shares in the company for $11 a share, retained the right to withdraw his offer -- previously set for withdrawal on March 26 -- at any time.

It said its special committee continued to evaluate the offer, together with financial advisor Robertson Stephens Inc. Jacobs' offer represent a premium of $2-3/4 on the company's trading price of $8-1/4 in Nasdaq mid-morning trading on Monday.

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