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Colorado Grande Casino Sold

BILOXI, Mississippi – (PRESS RELEASE) -- Isle of Capri Casinos, Inc. (Nasdaq: ISLE) and Nevada Gold & Casinos, Inc. (Amex: UWN) announced today that Isle of Capri Black Hawk L.L.C. ("Isle Black Hawk"), their joint venture, has sold all of its shares of Colorado Grande Casino, located in Cripple Creek, Colorado, to a wholly owned subsidiary of Nevada Gold & Casinos, Inc. for $6.5 million.

Isle Black Hawk will record a loss related to the sale of approximately $4.0 million in its fourth quarter of fiscal 2005, which ended April 24, 2005. Isle of Capri Casinos, Inc.'s and Nevada Gold & Casinos, Inc.'s pro-rata share of this loss, which was not considered in their previous earnings guidance given for fourth quarter of fiscal 2005, will be reflected in their respective consolidated financial statements for the years ended April 24, 2005, and March 31, 2005, respectively.

Isle Black Hawk, the largest hotel casino in Colorado, and Colorado Central Station Casino are jointly owned by Isle of Capri Casinos, Inc. and Nevada Gold & Casinos, Inc., which own 57 percent and 43 percent, respectively.

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