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The Sands Regent to Sell Common Stock

9 November 2004

RENO, Nevada – (PRESS RELEASE) -- The Sands Regent (Nasdaq: SNDS) today announced that it has agreed to sell 1,120,000 shares of its common stock to institutional investors for $8.25 per share in cash in a private placement transaction. The gross proceeds will be $9.24 million and are expected to be used to repay outstanding debt and for general working capital purposes.

In connection with the sale of the common stock, the Company also issued to the investors warrants to purchase up to 336,000 additional shares of the Company's common stock at a price of $10.66, exercisable beginning six months from the date of the closing and for a period of five years thereafter.

The private placement is expected to close within the next several days and is subject to customary closing conditions.

The Sands Regent owns and operates the Sands Regency Casino and Hotel in downtown Reno, Nevada, Gold Ranch Casino and RV Resort in Verdi, Nevada and Rail City Casino is Sparks, Nevada. The Sands Regency is an 830-room hotel and casino with 29,000 square feet of gaming space offering table games, keno, bingo and slot machines. In addition to complete amenities and on-site brand-name restaurants, the Company's property also includes a 12,000-square-foot convention and meeting center which seats close to 1,000 people. For further information, visit www.sandsregency.com.

The Gold Ranch Casino and RV Resort is located in Verdi, Nevada, twelve miles west of Reno. Gold Ranch offers approximately 245 slot machines in an 8,000 square foot casino, two restaurants, two bars, a 105-space RV park, a California lottery station, an ARCO gas station and a convenience store. For further information, visit www.goldranchrvcasino.com.

Rail City Casino, located in Sparks, Nevada, has approximately 16,600 square feet of gaming space housing more than 600 slots, 7 table games, keno, a sports book, the City Cafe family-style restaurant and a sports bar. Located near Victorian Square at 2121 Victorian Avenue in Sparks, it is the first casino a motorist encounters when exiting Interstate 80 at the Rock Boulevard exit (Exit 16). For further information, visit www.railcity.com.

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