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President Casinos Closes Admiral Due to Flooding

14 May 2002

ST. LOUIS, Missouri – (Press Release) --President Casinos, Inc. (OTC Bulletin Board: PREZ) today announced that is has temporarily suspended its St. Louis operations aboard the Admiral due to flooding of the Mississippi River.

The Company reported that its St. Louis operations aboard the Admiral were temporarily suspended on Monday, May 13th at 4:00 a.m. due to the Mississippi River exceeding its flood stage. Although the Company does not expect the Admiral to be closed for a prolonged period, the Company cannot presently predict when the Mississippi River will recede to the point that it will be able to resume operations in St. Louis.

President Casinos, Inc. owns and operates dockside gaming facilities in Biloxi, Mississippi and downtown St. Louis, Missouri, north of the Gateway Arch.

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