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Global Casinos 2004 Results Up

BOULDER, Colorado -- (PRESS RELEASE) -- Global Casinos, Inc. (PINK SHEETS:GBCS) today announced its results for the fiscal year ended June 30, 2004.

Revenues for the year ended June 30, 2004, were $3,144,877 compared to $2,770,073 for fiscal 2003, an increase of $374,804 or 14%. The increase was attributed to a slot machine upgrade program that replaced older machines and a reconfiguration of the gaming area that increased the number of slot machines from 176 to 185. Revenues also increased because we initiated new marketing programs designed for our local clientele.

For fiscal 2004, the Company reported Income from Operations of $453,473 compared to $220,248 for 2003, an increase of $233,225 or 106%. Operating income was positively affected by the increase in revenues.

For the year ended June 30, 2004, the Company reported net income of $252,175 or $0.10 per share compared to net income of $490,383 or $0.20 per share for the year ended June 30, 2003. The results for 2003 included a gain on debt restructuring of $493,941. Absent the gain, results for 2003 would have been a net loss of $3,558.

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