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Black Hawk Gaming Not to Pursue Claridge Hotel & Casino

11 September 2000

BLACK HAWK, Colorado—(Press Release) -- Sept. 11, 2000 -- Black Hawk Gaming & Development Company, Inc. (Nasdaq: BHWK), today announced that it will not continue discussions regarding the Claridge Hotel & Casino in Atlantic City.

Stephen R. Roark, president of Black Hawk Gaming said, "We have notified the management of the Claridge that we will not continue our discussions nor due diligence efforts at this time. We briefly analyzed the operation and considered whether or not it would fit into our current plans and have concluded that it would not.

"The Claridge is one of many alternatives that we have considered in our continuing effort to grow the company. Ordinarily we would not announce our withdrawal, as we did not announce our preliminary interest. We consider these types of activities to be within our day-to-day operations and not really noteworthy until they get further along.

"However, since it was publicly announced by the Claridge that we were considering the property, we felt it necessary to announce that we presently have no interest in the property."

Roark added, "We are currently in the process of obtaining our license approvals in Nevada so we may finalize the acquisition of the Gold Dust West Casino in Reno. That process is proceeding on schedule. We also continue to concentrate on our 2 existing casinos in Colorado, which produced approximately 19% of the gaming revenue in the City of Black Hawk in the second quarter of this year. Since Black Hawk is one of the fastest growing gaming markets in the country, we are particularly pleased with the performance of our operations there."

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