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Nevada Gold & Casinos, Inc. Celebrates Record Q4 Earnings22 June 2000HOUSTON--(Press Release)--June 22, 2000--Nevada Gold & Casinos, Inc. (OTC BB:UWIN - news; BSE:UWN), a resorts and entertainment company, announced this last Friday that it has posted its first ever quarterly earnings report, which was for the quarter ending March 31, 2000. UWIN recorded net income for the fourth quarter ending 3/31/00 of $1,311,760, equivalent to $0.12 per common share. ``We are now reporting solid earnings,'' says H. Thomas Winn, President and CEO of Nevada Gold & Casinos, Inc. ``While we have shown great promise in the past, this is the first quarter that we've been able to report actual profit. We have now accounted for our initial pre-opening expenses associated with Isle of Capri Black Hawk and are showing earnings per share of twelve cents for this quarter. As a profitable enterprise, we should be able to continue our growth strategy. We are close to having the feasibility study completed for our proposed project in Wellesley Island, New York and our ongoing real estate development projects in Black Hawk, Colorado.'' UWIN currently owns 43 percent of the Isle of Capri Casino - Black Hawk, the largest casino in Colorado, through a joint venture with Isle of Capri Casinos Inc. (Nasdaq:ISLE - news). The venture's new 237-room hotel, which is above the existing casino, is expected to open in early August 2000. The company owns approximately 240 acres of undeveloped real estate contiguous to Black Hawk, Colo., which it intends to develop into a master-planned resort community. In addition, UWIN has purchased over 800 acres of New York's Wellesley Island to develop a resort site with a potential Indian-based casino. UWIN also controls approximately 30 percent of Restaurant Connections International Inc. (RCI), which owns and operates 19 Pizza Hut restaurants in Sao Paulo, Brazil. UWIN's stock is traded on the Over-the-Counter Bulletin Board under the symbol UWIN. It also began trading on the Boston Stock Exchange (BSE) on December 10, 1999, under the symbol UWN. For more information about UWIN, Isle of Capri - Black Hawk and RCI, please visit UWIN's Web site at www.nevadagold.com. |