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Isle Black Hawk to Start Expansions

COLORADO – (Press Release) -- Nevada Gold & Casinos, Inc. (AMEX:UWN), announced today that Colorado voters rejected by better than 4 to 1, Amendment #33, which would have allowed video lottery terminals in five racetracks in Colorado. Isle Black Hawk, the joint venture between UWN (43%) and ISLE (57%), now expects expansion construction to begin before the holiday season. As announced earlier this year, the expansion was on hold pending the results of the amendment.

The expansion will add approximately 1,200 covered parking spaces, 15,000 square feet of casino space with 400 new slot machines, 160 hotel rooms, a full-service restaurant, and a skywalk connecting Colorado Central Station and Isle Black Hawk casinos. This will create a synergistic gaming complex with the skywalk extending across Main Street.

The new hotel and parking facility will be located on Colorado Central Station's current surface parking, across the street from both properties. The expansion of the gaming space at Isle of Capri Casino and the new parking garage are expected to be completed by the end of the calendar year 2004 with the hotel expansion completed by the end of the calendar year 2005.

"The defeat of Amendment #33 allows us to break ground on this very exciting expansion project," said H. Thomas Winn, chairman, president and chief executive officer of Nevada Gold and Casinos, Inc. "We expect this expansion will extend the property's leadership position in the Black Hawk market."

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