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Gaming & Entertainment Releases Roulette Game, Slot System

LAS VEGAS -- (PRESS RELEASE) -- Gaming & Entertainment Group, Inc. (OTC BB: GMEI), a leading provider of advanced server-based gaming systems and downloadable games, today announced the release of a range of video-based roulette games and the completion of its slot operating system for the Amusement With Prizes (AWP) arcade market and Licensed Betting Offices (LBOs) in the United Kingdom and Republic of Ireland.

This major development project began in February 2003, and its completion marks a significant milestone in GMEI's history. Historically, GMEI has been recognized as a leading-edge developer of Internet gaming systems for regulated online casinos. Completion of the Company's central-server gaming platform broadens GMEI product range to encompass the needs of "bricks and mortar" gaming operators, allowing them to quickly and easily deploy new games electronically, and to monitor their performance without the traditional expense and inconvenience associated with relocating physical gaming machines and taking manual meter readings.

Management of GMEI anticipates that the introduction of its FOBT and AWP roulette games will translate into sales of 300 devices to AWP arcade operators and LBO managers in the second half of 2004. The Company estimates that the sale of 300 devices will generate revenue of $1.8 million for the period.

"We have always been at the leading edge of gaming systems development," said Gaming & Entertainment Group's Chief Executive Officer, Tibor Vertes, "but now we have totally redeveloped our platform to simultaneously support standalone AWP video-based gaming machines, local clusters of multi-player machines, wide-area networked games, and our Internet system."

"The ability to rapidly develop and deploy new games has become ever more critical to AWP arcade operators and LBO owners alike," said Kevin Burman, GMEI's Chief Operating Officer, who is responsible for the Company's UK business development. "We have seen the emergence of FOBT games in LBO's, followed almost immediately by industry lobbying that led to the introduction of similar roulette and bingo games in AWP arcades and bingo halls. Our new platform will allow game developers to build and deliver exciting new games to the industry without ever again having to worry about the hardware itself. Most importantly, operators will no longer need to move gaming machines physically around the country."

The Company intends to use a portion of the $2.445 million in gross proceeds from its recent private placement ($1,772,000 of which closed in the three months ended March 31, and $673,000 of which closed during the period April 1 to May 31, 2004) to deploy AWP and FOBT roulette machines in the United Kingdom on both outright sale and revenue-sharing placements.

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