Meadows Racetrack & Casino provide update

11 October 2007

MEADOW LANDS, Pennsylvania -- (PRESS RELEASE) -- Meadows Racetrack & Casino officials today provided a construction update on its $155 million casino, which includes a 200-room hotel and luxury spa. The permanent 350,000 square- foot casino, which will create 1,200 jobs, is slated to open in early 2009.

"We recently finished all work surrounding the demolition of the old grandstand and surrounding buildings," said Meadows Vice President and General Manager Mike Graninger. "I'm happy to report there weren't any unforeseen problems that would delay our timeline. Over the next several months our construction team will be working on laying the foundation, and we're targeting the first placement of steel in January 2008. The Meadows is very much on track toward opening our new casino and hotel/spa in early 2009."

The permanent casino will integrate the long-standing tradition of harness racing at The Meadows with state-of-the-art gaming facilities. Featuring 3,000 slot machines, the casino will provide a covered grandstand area overlooking the racetrack. VIP boxes will also be available for special events and horse racing. A separate entrance at track level will lead to a simulcast area and wagering lobby. Approximately 12,500 square feet of multifunctional space will accommodate a variety of live entertainment venues as well as banquets and conferences.

There will be three featured dining facilities, which include a premiere steak house, a specialty restaurant which overlooks the racetrack and a food court. A centrally located lounge and bar will feature panoramic views of both the gaming floor and the racetrack. The food court will be circular in design and accessible from both the gaming floor and the grandstands. It will accommodate a number of different food outlets and provide seating for 200 guests.

The hotel, which will be operated by CCR, will include an outdoor swimming pool. The spa will be state-of-the-art and leased to an experienced operator.

The Meadows' temporary casino opened June 11, becoming the first casino in the Greater Pittsburgh region. Amazingly, the temporary casino was built in about seven months. The 82,000-square-foot temporary casino includes 1,738 slot machines, a 360-seat all-you-can-eat restaurant, a snack bar, gift shop and sports bar.

The vast majority of the construction and subsequent goods and services have come from area businesses. Close to 1,000 local jobs will be created for construction of the temporary and permanent casinos. The Meadows also hired area residents to fill nearly all of the 500 jobs in the temporary casino.

CCR owns two highly regarded resorts in Las Vegas - the Rampart Casino and the Cannery Casino & Hotel. Construction began in March on a second Cannery branded casino in Las Vegas.

The permanent casino is being designed by Climans Green Liang Architects, Inc. (CGL), a leading full service architectural firm specializing in gaming and entertainment projects throughout North America. In addition to The Meadows, CGL has designed Tioga Downs, Nichols, N.Y., and Georgian Downs, Ontario, Canada as well as other racino projects in Ontario, Quebec, New Mexico and the Caribbean.

LPCiminelli, which served as the construction manager of the temporary casino, will also oversee the completion of the permanent facility. LPCiminelli has managed the construction and renovation of major gaming and racing projects at Finger Lakes Gaming and Racetrack, Farmington, N.Y.; Harrington Raceway, Harrington, Del.; Saratoga Raceway, Saratoga, N.Y.; Southland Greyhound Park, West Memphis, Ark.; and Tioga Downs, Nichols, N.Y.